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This thesis develops three models that study the motivation of various agents to take on debt,
and the impact that excessive financial leverage can have on social welfare.
In the chapter "Short-term Bank Leverage and the Value of Liquid Reserves", the ince ...
Financial factors are central to the recent economic crisis. Most macroeconomic models treat banks and financial intermediation as a veil. These models are unable to account for the recent financial crisis and they cannot be used for policy evaluation. Fin ...
This paper inspects the 'deep' habits mechanism originally used by Ravn, Schmitt-Grohé and Uribe (2006) to generate the positive comovement of public and private consumption observed in many VAR studies. In their set-up, the price-elasticity of demand is p ...
Ghent University Faculty of Economics and Business Administration Working Paper 2010/6412011
In this study, human exposure to close-range wireless power transfer (WPT) systems operating in the frequency range 0.1-10 MHz with coil diameters up to 150 mm are investigated. Approximation formulae, which include scaling factors derived from numerical s ...
Institute of Electrical and Electronics Engineers2014
We study the optimal volatility of the exchange rate in a two-country model with sectoral non-atomistic wage setters, non-traded goods, nominal rigidities and alternative pricing assumptions – producer or local currency pricing. Labor unions internalize th ...
The series production of Nb3Sn and NbTi cable-inconduit conductors (CICC) for the winding of various coils in the International Thermonuclear Experimental Reactor (ITER) magnet system is being completed in 2015. The tests of the ITER conductor samples are ...
This paper presents a model for the estimation of the repayment process of delinquent credit-card accounts conditional on account-specific and macroeconomic information. Based on this model we construct a dynamic collectability score (DCS). The DCS estimat ...
In conductor-insulator nanocomposites in which conducting fillers are dispersed in an insulating matrix, the electrical connectedness is established by inter-particle tunneling or hopping processes. These systems are intrinsically non-percolative and a coh ...
This paper models the housing sector, mortgages and endogenous default in a DSGE setting with nominal and real rigidities. We use data for the period 1981-2006 to estimate our model using Bayesian techniques. We analyze how an increase in risk in the mortg ...
This study deals with the pricing and hedging of inflation-indexed bonds. Under foreign exchange analogy we model the nominal short rate, real short rate and logarithm of the price index with an afflne Gaussian process. Using the underlying affine property ...