Generalized robustness and dynamic pessimism
WebMay 8, 2024 · Abstract. This paper develops a theory of dynamic pessimism and its impact on asset prices. Notions of time-varying pessimism arise endogenously in our setting as … WebWe would like to show you a description here but the site won’t allow us.
Generalized robustness and dynamic pessimism
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WebNotions of time-varying pessimism arise endogenously in our setting as a consequence of agents’ concern for model misspecification. We generalize the robust control approach of … WebGENERALIZED ROBUSTNESS AND DYNAMIC PESSIMISM Abstract This paper develops a theory of dynamic pessimism and its impact on asset prices. Notions of time …
WebApr 27, 2012 · Ironically, robustness has been invoked by both proponents and opponents of this idea. I have argued that neurodevelopmental systems should be robust to the … WebFeb 1, 2012 · We show that robustly optimal policy can be implemented through commitment to a target criterion involving only the paths of inflation and a suitably defined output gap, but that a concern for robustness requires greater resistance to surprise increases in inflation than would be considered optimal if one could count on the private …
WebThis paper develops a theory of dynamic pessimism and its impact on asset prices. Notions of time-varying pessimism arise endogenously in our setting as a consequence … WebApr 9, 2024 · DP14592 Generalized Robustness and Dynamic Pessimism. Pascal Maenhout Andrea Vedolin Hao Xing; 9 Apr 2024. This paper develops a theory of dynamic …
WebMar 1, 2024 · We find that robustness concerns from shareholders and creditors have distinct implications. Creditor ambiguity aversion allows a firm to take advantage of the debt tax shield in no-commitment equilibrium because ambiguity aversion serves as a commitment device that disciplines the leverage ratchet effect and even results in debt …
WebGeneralized Robustness and Dynamic Pessimism Pascal J. Maenhout, Andrea Vedolin, and Hao Xing NBER Working Paper No. 26970 April 2024 JEL No. G11,G4 ABSTRACT This … truglo handgun sightsWebWe develop a theory of arbitrage-free dispersion (AFD) that characterizes the testable restrictions of asset pricing models. AFD measures Jensen’s gap in the cumulant generating function of pricing kernels and returns. It implies a wide family of model-free dispersion constraints, which extend dispersion and co-dispersion bounds in the literature and are … truglo® gobble stopper xtreme turkey chokeWebApr 9, 2024 · This paper develops a theory of dynamic pessimism and its impact on asset prices. Notions of time-varying pessimism arise endogenously in our setting as a consequence of agents’ concern for model misspecification. We generalize the robust control approach of Hansen and Sargent (2001) by replacing relative entropy as a … philip mcateer barristerWebGeneralized Robustness and Dynamic Pessimism. Pascal J. Maenhout, Andrea Vedolinand Hao Xing. No 26970, NBER Working Papersfrom National Bureau of … truglo headbanger chokeWebGeneralized Robustness and Dynamic Pessimism. This paper develops a theory of dynamic pessimism and its impact on asset prices. Notions of time-varying pessimism arise endogenously in our setting as a consequence of agents’ concern for model … truglo gun sight paintWebThis paper develops a theory of dynamic pessimism and its impact on asset prices. Notions of time-varying pessimism arise endogenously in our setting as a consequence of agents' concern for model misspecification. We generalize the robust control approach of Hansen and Sargent (2001) by replacing re... philip mcbride car dismantlersWebGeneralized Robustness and Dynamic Pessimism -- by Pascal J. Maenhout, Andrea Vedolin, Hao Xing 1 /r/nber_papers , 2024-04-20, 04:12:44 Permalink truglo gun sights