General Equilibrium Models for Climate Policy Analysis
CEAR Seminar Room - RCB 1112 - from 1:15 – 2:45pm
CEAR Seminar Room - RCB 1112 - from 1:15 – 2:45pm
RCB 1100 - from 2:00 – 3:30pm
This paper examines the determinants of equity price risk for a large sample of non-financial corporations in the United States from 1964 to 2008. We estimate both structural and reduced form models to examine the endogenous nature of corporate financial characteristics such as total debt,… more »
RCB 1200 - from 2:00 – 3:30
The American Jobs Creation Act (AJCA) significantly lowered US firms' tax cost when accessing their unrepatriated foreign earnings. Using this temporary shock to the cost of internal financing, we examine the role of capital constraints in firms' investment decisions. Controlling for the capacity to repatriate… more »
ALC 432 - from 10.30am - 12.00pm
While academic and practitioner literature has advocated the use of real options in firms’ longterm investment appraisal processes, few studies have examined the extent to which real options are incorporated into decisions when they are available for decision-making. Using two experiments, we examine supervising managers’… more »
RCB 1200, from 1:30 – 3:00
We investigate three facets of cross-sectional variation in the risk of stock price crashes: actual crash incidence, and two predictors of that risk, accounting opacity and the option smirk curve. We show that all three of these variables are related. Option smirks and accounting opacity each independently predict… more »
RCB 1200 - from 2:00 – 3:30
Recent genetic evidence shows that fundamental economic attitudes, such as risk aversion and altruism, are largely determined by unspecified environmental factors. Using random assignment of MBA students to peer groups and predetermined survey responses of economic attitudes, we provide causal evidence that peer influence is… more »
RCB 1100 - from 10:30 – 12:00pm
RCB 1100 - from 10:30am - 12:00pm
This paper introduces the concepts of amount and speed of a discounting procedure. Exponential discounting sequesters both concepts into a single parameter that needs to be disaggregated in order to characterize nonconstant rate procedures. The inverse of the present value of a unit stream of… more »
AYSPS 749 - from 3:00 - 4:30pm
This lecture describes the current state of the art in modeling risk attitudes as the result of interactions between empirically oriented psychologists, theoretically oriented economists, and technically oriented mathematicians. At several stages in history, the next step forward could only be made by empirical inputs… more »
Details
The Center for Financial Innovation and Stability (Federal Reserve Bank of Atlanta) and the Center for the Economic Analysis of Risk (Georgia State University) are organizing the conference “The Impact of Extraordinary Monetary Policy on the Financial Sector”, to be held at the Federal Reserve Bank of Atlanta on the 1st… more »