Thursday, February 26, 2015

MoneyScience News

MoneyScience News


Blog Post: iMFdirect: Fiscal Arrangements in Federations: Four Lessons for Europe

Posted: 25 Feb 2015 01:06 PM PST

By Martine Guerguil read more...

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Blog Post: TheFinancialServicesClub: The Finanser Interviews: Anne Boden, CEO of Starling Bank

Posted: 25 Feb 2015 12:39 AM PST

Starling Bank is the name of a new challenger bank being set up in London. The bank’s early days show how challenging the process of creating a new bank can be, as the Financial Times explains (see end of interview).  Nevertheless, there is grand ambition to shake up the banking establishment, as outlined in this interview with founder and CEO Anne Boden.read more...

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Published / Preprint: Rotational invariant estimator for general noisy matrices. (arXiv:1502.06736v1 [cond-mat.stat-mech])

Posted: 24 Feb 2015 05:36 PM PST

We investigate the problem of estimating a given real symmetric signal matrix $\textbf{C}$ from a noisy observation matrix $\textbf{M}$ in the limit of large dimension. We consider the case where the noisy measurement $\textbf{M}$ comes either from an arbitrary additive or multiplicative rotational invariant perturbation. We establish, using the Replica method, the asymptotic global...

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Published / Preprint: International R&D Spillovers and other Unobserved Common Spillovers and Shocks. (arXiv:1502.06805v1 [q-fin.EC])

Posted: 24 Feb 2015 05:36 PM PST

Studies which are based on Coe and Helpman (1995) and use weighted foreign R&D variables to estimate channel-specific R&D spillovers disregard the interaction between international R&D spillovers and other unobserved common spillovers and shocks. Using a panel of 50 economies from 1970-2011, we find that disregarding this interaction leads to inconsistent estimates whenever knowledge...

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Published / Preprint: A Framework for Modeling Bounded Rationality: Mis-specified Bayesian-Markov Decision Processes. (arXiv:1502.06901v1 [q-fin.EC])

Posted: 24 Feb 2015 05:36 PM PST

We provide a framework to study dynamic optimization problems where the agent is uncertain about her environment but has (possibly) an incorrectly specified model, in the sense that the support of her prior does not include the true model. The agent's actions affect both her payoff and also what she observes about the environment; she then uses these observations to update her prior according to...

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Blog Post: WealthandCapitalMarketsBlog: Crunch Time for Conflicted Retirement Investments Counsel

Posted: 24 Feb 2015 02:46 PM PST

The White House has issued the latest salvo in the debate over applying fiduciary standards followed by RIAs and trust companies to the financial services industry broadly. The brokerage world, whose commission-based margins have shrunk in recent years, is to no one’s surprise crying foul. This is rather rich since the proverbial little guy has been taking it on the chin from Wall Street for...

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Blog Post: Luigi.Ballabio: A quick look at the 1.5 release

Posted: 15 Feb 2015 11:26 PM PST