The Experts below are selected from a list of 15 Experts worldwide ranked by ideXlab platform
Stefan A Schirm - One of the best experts on this subject based on the ideXlab platform.
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globalization and the new regionalism global markets domestic politics and regional cooperation
2002Co-Authors: Stefan A SchirmAbstract:Preface. Abbreviations. I. Empirical Puzzle and Theoretical Approach. Introduction. The Weaknesses of Regional Integration Theories. The Global Markets Approach in Explaining Cooperation. Methodology and the Empirical Plausibility of the Hypotheses. II. Global Markets: Development and Impact on States. Global Financial Markets. Global Production and Foreign Direct Investment. World Trade. Conclusion: Crises, Interests, and Instruments. III. Global Markets and the European Single Market. Liberalization Strategies in the Single Market Project "1992". France. Germany. Great Britain. The European Level. Conclusion. IV. Global Markets and MERCOSUR. Liberalization Strategies in the Common Market of the South. Argentina. Excursus: Transnational Banks and the International Monetary Fund. Brazil. Conclusion. V. Global Markets and NAFTA. Liberalization Strategies in the North American Free Trade Agreement. Mexico. United States. Conclusion. VI. Comparative Conclusions, Empirical and Theoretical Results. Empirical Results: Preference and the Global Markets Approach. Theoretical Development of the Global Markets Approach. Implications for Theories of Regional Integration and International Relations. Notes. References. Index
Dong Chaosheng - One of the best experts on this subject based on the ideXlab platform.
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Learning Risk Preferences from Investment Portfolios Using Inverse Optimization
2021Co-Authors: Yu Shi, Wang Haoran, Dong ChaoshengAbstract:The fundamental principle in Modern Portfolio Theory (MPT) is based on the quantification of the portfolio's risk related to performance. Although MPT has made huge impacts on the Investment World and prompted the success and prevalence of passive investing, it still has shortcomings in real-World applications. One of the main challenges is that the level of risk an investor can endure, known as \emph{risk-preference}, is a subjective choice that is tightly related to psychology and behavioral science in decision making. This paper presents a novel approach of measuring risk preference from existing portfolios using inverse optimization on the mean-variance portfolio allocation framework. Our approach allows the learner to continuously estimate real-time risk preferences using concurrent observed portfolios and market price data. We demonstrate our methods on real market data that consists of 20 years of asset pricing and 10 years of mutual fund portfolio holdings. Moreover, the quantified risk preference parameters are validated with two well-known risk measurements currently applied in the field. The proposed methods could lead to practical and fruitful innovations in automated/personalized portfolio management, such as Robo-advising, to augment financial advisors' decision intelligence in a long-term Investment horizon
Yu Shi - One of the best experts on this subject based on the ideXlab platform.
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Learning Risk Preferences from Investment Portfolios Using Inverse Optimization
2021Co-Authors: Yu Shi, Wang Haoran, Dong ChaoshengAbstract:The fundamental principle in Modern Portfolio Theory (MPT) is based on the quantification of the portfolio's risk related to performance. Although MPT has made huge impacts on the Investment World and prompted the success and prevalence of passive investing, it still has shortcomings in real-World applications. One of the main challenges is that the level of risk an investor can endure, known as \emph{risk-preference}, is a subjective choice that is tightly related to psychology and behavioral science in decision making. This paper presents a novel approach of measuring risk preference from existing portfolios using inverse optimization on the mean-variance portfolio allocation framework. Our approach allows the learner to continuously estimate real-time risk preferences using concurrent observed portfolios and market price data. We demonstrate our methods on real market data that consists of 20 years of asset pricing and 10 years of mutual fund portfolio holdings. Moreover, the quantified risk preference parameters are validated with two well-known risk measurements currently applied in the field. The proposed methods could lead to practical and fruitful innovations in automated/personalized portfolio management, such as Robo-advising, to augment financial advisors' decision intelligence in a long-term Investment horizon
Wang Haoran - One of the best experts on this subject based on the ideXlab platform.
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Learning Risk Preferences from Investment Portfolios Using Inverse Optimization
2021Co-Authors: Yu Shi, Wang Haoran, Dong ChaoshengAbstract:The fundamental principle in Modern Portfolio Theory (MPT) is based on the quantification of the portfolio's risk related to performance. Although MPT has made huge impacts on the Investment World and prompted the success and prevalence of passive investing, it still has shortcomings in real-World applications. One of the main challenges is that the level of risk an investor can endure, known as \emph{risk-preference}, is a subjective choice that is tightly related to psychology and behavioral science in decision making. This paper presents a novel approach of measuring risk preference from existing portfolios using inverse optimization on the mean-variance portfolio allocation framework. Our approach allows the learner to continuously estimate real-time risk preferences using concurrent observed portfolios and market price data. We demonstrate our methods on real market data that consists of 20 years of asset pricing and 10 years of mutual fund portfolio holdings. Moreover, the quantified risk preference parameters are validated with two well-known risk measurements currently applied in the field. The proposed methods could lead to practical and fruitful innovations in automated/personalized portfolio management, such as Robo-advising, to augment financial advisors' decision intelligence in a long-term Investment horizon
International Monetary Fund - One of the best experts on this subject based on the ideXlab platform.
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Australia
1Co-Authors: International Monetary FundAbstract:Australia’s 2004 Article IV Consultation reports that economic growth has rebounded, underpinned by continued buoyancy of domestic demand, an improvement in the external environment, and a gradual recovery from the drought. The main risk to the outlook relates to overheating in the housing market, but recent indicators suggest a soft landing is likely. Other risks include a re-emergence of drought, sustained high oil prices, or a weakening of external demand.Article IV consultations;Economic conditions;Staff Reports;current account, external debt, current account deficit, domestic demand, bilateral agreements, balance of payments, external shocks, reserve bank, net exports, trade liberalization, terms of trade, external liabilities, unemployment rate, current account balance, net external liabilities, competition policy, oil prices, nominal interest rate, external financing, net external debt, prudential regulation, international standards, trade agreements, free trade, public finances, central bank, multilateral trade, free trade agreements, current account deficits, current account adjustment, debt stock, skilled workers, trading partners, public debt, debt statistics, exporting countries, commodity prices, import price, domestic economy, import prices, domestic shocks, export prices, net debt, multilateral trade liberalization, currency debt, external borrowing, balance of payment, debt sustainability, national competition policy, national competition, external debt sustainability, income support programs, export price, public sector debt, trade blocs, fiscal gap, unilateral trade liberalization, short-term debt, regional trade, gross capital formation, external debt statistics, domestic currency, unilateral trade, foreign currency debt, total external debt, debt ratio, bilateral free trade, quota-free access, net private debt, private debt, debt-equity, fixed Investment, World demand, general resources account, fixed capital formation, external position, multilateral efforts, income support system, foreign trade, bilateral free trade agreements, intermediate goods, tradable goods, market liberalization, monetary union, rural population, asset market, multilateral negotiations, producer price index, nontradable goods, long-term debt, currency crises, domestic Investment, debt dynamics, private sector debts, currency risk, World market
