Objective
The first project, on the term structure, allows nominal distortions to affect capital accumulation. A method that delivers consistent and asymptotically normal estimators of the structural parameters of a multi-factor term structure model is used to estimate an overidentified system with cross-equation restrictions imposed on panel data of nominal bond yields, real consumption, inflation and stock market excess returns. By identifying the common risk factors explaining the stock and bond markets, the underlying factors driving the economy are uncovered. The second project studies different structures of financial intermediation, equilibrium credit rationing, and the effects of financial deregulation. Using a costly output verification framework, the research analyses how alternative market structures, monopolistic and competitive intermediation, affect both the level of economic activity and the efficiency of the economy. The research will also derive the optimal capital structure under different assumptions about the information available to financial markets.
Fields of science (EuroSciVoc)
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Data not available
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Coordinator
NW1 4SA London
United Kingdom
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.