THE IMPACT OF A LARGE DEPRECIATION ON THE COST OF LIVING OF RICH AND POOR CONSUMERS
status: Published online
status: Published online
INTRODUCTION: As drug prices are viewed to be opaque, there have been increasing societal demands on policy and decision makers to implement initiatives that promote drug price transparency. AREAS COVERED: This Perspective discusses what drug price transparency is and how it works in theory and in practice. EXPERT OPINION: Transparency on drug pric...
The geospatial domain increasingly relies on data-driven methodologies to extract actionable insights from the growing volume of available data. Despite the effectiveness of tree-based models in capturing complex relationships between features and targets, they fall short when it comes to considering spatial factors. This limitation arises from the...
This study examines the long-run relationships between Bitcoin and various financial and commodity markets. Utilizing a novel methodology termed the Implicit Asymmetric Combined Cointegration Test (IACC), an augmented variant of the Bayer Hanck combined cointegration method (BH), this research applies ten-minute frequency time series data to test a...
status: published
status: published
The conventional risk-based theory does not reconcile with the liquidity-beta anomaly in China: Low liquidity-beta stocks outperform high liquidity-beta stocks on a risk-adjusted basis. This striking pattern is robust to different weighting schemes, competing factor models, and other well-known return determinants in the cross section. We propose a...
We present a valuation formula for convertible bonds with regime-switching market conditions by de-composing the convertible bond into a coupon-bearing bond and the American-type exchange option. A coupon-bearing bond component is modeled with a four-factor model: a two-factor affine model for the risk-free rate and a two-factor affine model with s...
Published in Nature Climate Change
Extreme weather events such as heatwaves and droughts are likely to occur more often under climate change. Such events can have an indirect effect on countries through global agricultural markets and food prices; this impact is stronger for higher-income than lower-income countries.
status: published