JER, 第 4 卷Hanyang Economic Research Institute in collaboration with Hanyang University College of Business and Economics, 1999 |
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第 1 到 3 筆結果,共 18 筆
第 17 頁
... rate . Second , constrain the risk premium not to change ( dRP = 0 ) but allow the default probability and the recovery rate to change ( ds 0 and dP 0 ) . Solving equation ( 9 ) for dP / ds : RP dP ( 1 − s ) ( 1 − tf ) + 1 - P P ( 1 ...
... rate . Second , constrain the risk premium not to change ( dRP = 0 ) but allow the default probability and the recovery rate to change ( ds 0 and dP 0 ) . Solving equation ( 9 ) for dP / ds : RP dP ( 1 − s ) ( 1 − tf ) + 1 - P P ( 1 ...
第 24 頁
Equation ( 11 ) states the recovery rate in terms of the parameter val- ues from equation ( 6 ) and the default rate or the default probability in terms of the parameters and the recovery rate . Table 2 presents al- ternate combinations ...
Equation ( 11 ) states the recovery rate in terms of the parameter val- ues from equation ( 6 ) and the default rate or the default probability in terms of the parameters and the recovery rate . Table 2 presents al- ternate combinations ...
第 29 頁
... recovery rates imply higher default probabilities . Figure 1 illustrates the nonlinear nature of this relationship . Across iso - risk premium curves , a higher recovery rate ( moving from left to right ) yields a higher risk premium ...
... recovery rates imply higher default probabilities . Figure 1 illustrates the nonlinear nature of this relationship . Across iso - risk premium curves , a higher recovery rate ( moving from left to right ) yields a higher risk premium ...
內容
Takamitsu Sawa | 5 |
Richard G Sheehan and Mark Wohar Tax Rates | 11 |
Sudipto Dasgupta Andrew J Yates Optimality and Lindahl Equilibrium | 37 |
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abatement cost assume assumption buyer coefficient constraint consumption cost function decreases default probabilities demogrant effects equation equilibrium ERSITY estimates ex post efficient ex post incentive ex post individually exists expenditure firms follows Gresik Hanyang University high-skilled workers incentive compatible incentive efficient mechanism income tax income taxation increases independent of valuations industrial zone inflation Journal of Economic Korea labor supply land rents land value tax Lemma Lindahl Lindahl equilibrium mechanism coordinator municipal bond negative money-supply shock noncontingent contract optimal income optimal tax output parameters percent positive post incentive efficient post individually rational premia price discrimination price vector production profit R&D intensity recovery rate renegotiation residential risk averse risk premium SAN DIEGO seller Seoul steel industry supply shocks Table tax rate Theorem trade unskilled workers valuation wage rate wage tax x(SL yields zero