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We solve a portfolio choice problem when expected returns, covariances, and trading costs follow a regime-switching model. The optimal policy trades towards an aim portfolio given by a weighted-average of the conditional mean-variance-efficient portfolios ...
The environmental footprint of housing is greatly influenced by the size of a dwelling. Housing size is the result of households' dwelling selections; accordingly, it is critical to consider residential preferences and choices to inform efforts towards hou ...
Classical monetary systems regularly subject the most vulnerable majority of the world's population to debilitating financial shocks, and have manifestly allowed uncontrolled global inequality over the long term. Given these basic failures, how can we avoi ...
Pendant drops suspended on the underside of a wet substrate are known to accumulate fluid from the surrounding thin liquid film, a process that often results in dripping. The growth of such drops is hastened by their ability to translate over an otherwise ...
We managed to construct two novel and functional methodologies to depict the evolution of energy efficiency improvements (EEI) in two Swiss sectors, housing and cement. This allowed us to obtain a better representation of EEI triggered by energy and climat ...
In order to describe magnetogenesis during inflation in the kinetic coupling model, we utilize a gradient expansion which is based on the fact that only long-wavelength (superhorizon) modes undergo amplification. For this purpose, we introduce a set of fun ...
Low-for-long nominal interest rates have resulted in strong growth in mort- gage lending and real house prices in Switzerland. Domestically-oriented, small banks have mostly contributed to this expansion in mortgage lending while the two big, global system ...
With nominal wage rigidities, it is crucial to distinguish whether wages are set by workers or firms — whether we have monopoly or monopsony power. This paper provides a model of monopsony power in the labour market and a monopsonistic Phillips Curve. If w ...
This article develops a fully decentralized multiagent algorithm for policy evaluation. The proposed scheme can be applied to two distinct scenarios. In the first scenario, a collection of agents have distinct datasets gathered by following different behav ...
This paper traces the plunge and rebound of the taxi market in Shenzhen, China through the COVID-19 lockdown. A four-week taxi GPS trajectory data set is collected in the first quarter of 2020, which covers the period of lockdown and phased reopening in th ...