# Karl Schmedders

## Personal Details

First Name: | Karl |

Middle Name: | |

Last Name: | Schmedders |

Suffix: | |

RePEc Short-ID: | psc9 |

[This author has chosen not to make the email address public] | |

https://www.imd.org/faculty/professors/karl-schmedders/ | |

Chemin de Bellerive 23 CH-1001 Lausanne Switzerland | |

+41 (0)79 596 8956 | |

Terminal Degree: | 1996 Department of Management Science and Engineering; Stanford University (from RePEc Genealogy) |

## Affiliation

### International Institute for Management (IMD)

Lausanne, Switzerlandhttp://www.imd.ch/

RePEc:edi:imedech (more details at EDIRC)

## Research output

Jump to: Working papers Articles Software Chapters Books### Working papers

- Philipp Renner & Karl Schmedders, 2017.
"
**Dynamic Principalâ€“Agent Models**," Working Papers 203620456, Lancaster University Management School, Economics Department. - Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2017.
"
**Re-Use of Collateral: Leverage, Volatility, and Welfare**," Swiss Finance Institute Research Paper Series 17-04, Swiss Finance Institute.- Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2023.
"
**Re-use of collateral: Leverage, volatility, and welfare**," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 19-46, January.

- Brumm, Johannes & Grill, Michael & Kubler, Felix & Schmedders, Karl, 2018.
"
**Re-use of collateral: leverage, volatility, and welfare**," Working Paper Series 2218, European Central Bank. - Michael Grill & Karl Schmedders & Felix Kubler & Johannes Brumm, 2017.
"
**Re-use of Collateral: Leverage, Volatility, and Welfare**," 2017 Meeting Papers 697, Society for Economic Dynamics.

- Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2023.
"
- Vanessa Kummer & Maik Meusel & Philipp Renner & Karl Schmedders, 2016.
"
**New and Revised Results for 'Building Reputation for Contract Renewal: Implications for Performance Dynamics and Contract Duration'**," Swiss Finance Institute Research Paper Series 16-32, Swiss Finance Institute. - Alena Miftakhova & Kenneth L. Judd & Thomas S. Lontzek & Karl Schmedders, 2016.
"
**Statistical Approximation of High-Dimensional Climate Models**," Swiss Finance Institute Research Paper Series 16-76, Swiss Finance Institute.- Miftakhova, Alena & Judd, Kenneth L. & Lontzek, Thomas S. & Schmedders, Karl, 2020.
"
**Statistical approximation of high-dimensional climate models**," Journal of Econometrics, Elsevier, vol. 214(1), pages 67-80.

- Miftakhova, Alena & Judd, Kenneth L. & Lontzek, Thomas S. & Schmedders, Karl, 2020.
"
- Ole Wilms & Karl Schmedders & Walt Pohl, 2016.
"
**Higher-Order Effects in Asset-Pricing Models with Long-Run Risks**," 2016 Meeting Papers 306, Society for Economic Dynamics.- Walter Pohl & Karl Schmedders & Ole Wilms, 2018.
"
**Higher Order Effects in Asset Pricing Models with Long‐Run Risks**," Journal of Finance, American Finance Association, vol. 73(3), pages 1061-1111, June.

- Walter Pohl & Karl Schmedders & Ole Wilms, 2018.
"
- Philipp Renner & Karl Schmedders, 2016.
"
**Dynamic Principal-Agent Models**," Swiss Finance Institute Research Paper Series 16-26, Swiss Finance Institute. - Maximilian ADELMANN & Lucio FERNANDEZ ARJONA & Janos MAYER & Karl SCHMEDDERS, 2016.
"
**A Large-Scale Optimization Model for Replicating Portfolios in the Life Insurance Industry**," Swiss Finance Institute Research Paper Series 16-04, Swiss Finance Institute.- Maximilian Adelmann & Lucio Fernandez-Arjona & Janos Mayer & Karl Schmedders, 2021.
"
**A Large-Scale Optimization Model for Replicating Portfolios in the Life Insurance Industry**," Operations Research, INFORMS, vol. 69(4), pages 1134-1157, July.

- Maximilian Adelmann & Lucio Fernandez-Arjona & Janos Mayer & Karl Schmedders, 2021.
"
- Walter POHL & Karl SCHMEDDERS & Ole WILMS, 2014.
"
**Higher-Order Dynamics in Asset-Pricing Models with Recursive Preferences**," Swiss Finance Institute Research Paper Series 14-68, Swiss Finance Institute, revised Nov 2015. - Walter POHL & Karl SCHMEDDERS & Ole WILMS, 2014.
"
**Asset Prices with Temporary Shocks to Consumption**," Swiss Finance Institute Research Paper Series 14-41, Swiss Finance Institute. - Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2013.
"
**Margin Regulation and Volatility**," Swiss Finance Institute Research Paper Series 13-59, Swiss Finance Institute.- Brumm, Johannes & Grill, Michael & Kubler, Felix & Schmedders, Karl, 2015.
"
**Margin regulation and volatility**," Journal of Monetary Economics, Elsevier, vol. 75(C), pages 54-68.

- Brumm, Johannes & Kubler, Felix & Grill, Michael & Schmedders, Karl, 2014.
"
**Margin regulation and volatility**," Working Paper Series 1698, European Central Bank.

- Brumm, Johannes & Grill, Michael & Kubler, Felix & Schmedders, Karl, 2015.
"
- Fabian Ackermann & Walt Pohl & Karl Schmedders, 2013.
"
**Long-Run UIP Holds Even in the Short Run**," Swiss Finance Institute Research Paper Series 13-31, Swiss Finance Institute. - Philip Böhme & Walt Pohl & Karl Schmedders, 2013.
"
**The Perils of Performance Measurement in the German Mutual-Fund Industry**," Swiss Finance Institute Research Paper Series 13-30, Swiss Finance Institute. - Michael Grill & Karl Schmedders & Felix Kubler & Johannes Brumm, 2012.
"
**Margin Requirements and Asset Prices**," 2012 Meeting Papers 533, Society for Economic Dynamics. - Philipp Renner & Karl Schmedders, 2012.
"
**A Polynomial Optimization Approach to Principal-Agent Problems**," Swiss Finance Institute Research Paper Series 12-35, Swiss Finance Institute.- Philipp Renner & Karl Schmedders, 2015.
"
**A Polynomial Optimization Approach to Principal–Agent Problems**," Econometrica, Econometric Society, vol. 83, pages 729-769, March.

- Philipp Renner & Karl Schmedders, 2015.
"
- Fabian Ackermann & Walt Pohl & Karl Schmedders, 2012.
"
**Optimal and Naive Diversification in Currency Markets**," Swiss Finance Institute Research Paper Series 12-36, Swiss Finance Institute.- Fabian Ackermann & Walt Pohl & Karl Schmedders, 2017.
"
**Optimal and Naive Diversification in Currency Markets**," Management Science, INFORMS, vol. 63(10), pages 3347-3360, October.

- Fabian Ackermann & Walt Pohl & Karl Schmedders, 2017.
"
- Johannes Brumm & Michael GRILL & Felix KUBLER & Karl SCHMEDDERS, 2011.
"
**Collateral Requirements and Asset Prices**," Swiss Finance Institute Research Paper Series 11-10, Swiss Finance Institute.- Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2015.
"
**Collateral Requirements And Asset Prices**," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 56(1), pages 1-25, February.

- Michael Grill & Karl Schmedders & Felix Kubler & Johannes Brumm, 2011.
"
**Collateral Requirements and Asset Prices**," 2011 Meeting Papers 737, Society for Economic Dynamics. - Brumm, Johannes & Grill, Michael & Kubler, Felix & Schmedders, Karl, 2013.
"
**Collateral requirements and asset prices**," Discussion Papers 44/2013, Deutsche Bundesbank.

- Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2015.
"
- Felix KUBLER & Karl SCHMEDDERS, 2010.
"
**Life-Cycle Portfolio Choice, the Wealth Distribution and Asset Prices**," Swiss Finance Institute Research Paper Series 10-21, Swiss Finance Institute.- Karl Schmedders & Felix Kubler, 2012.
"
**Life-Cycle Portfolio Choice, the Wealth Distribution and Asset Prices**," 2012 Meeting Papers 536, Society for Economic Dynamics.

- Karl Schmedders & Felix Kubler, 2012.
"
- Kenneth L. JUDD & Philipp RENNER & Karl SCHMEDDERS, 2010.
"
**Finding All Pure-Strategy Equilibria in Static and Dynamic Games with Continuous Strategies**," Swiss Finance Institute Research Paper Series 10-45, Swiss Finance Institute. - Felix KUBLER & Karl SCHMEDDERS, 2009.
"
**Non-parametric counterfactual analysis in dynamic general equilibrium**," Swiss Finance Institute Research Paper Series 09-05, Swiss Finance Institute.- Felix Kubler & Karl Schmedders, 2010.
"
**Non-parametric counterfactual analysis in dynamic general equilibrium**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 45(1), pages 181-200, October.

- Felix Kubler & Karl Schmedders, 2007.
"
**Non-parametric counterfactual analysis in dynamic general equilibrium**," PIER Working Paper Archive 07-027, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.

- Felix Kubler & Karl Schmedders, 2010.
"
- Kenneth L. JUDD & Felix KUBLER & Karl SCHMEDDERS, 2008.
"
**Bond Ladders and Optimal Portfolios**," Swiss Finance Institute Research Paper Series 08-32, Swiss Finance Institute.- Kenneth L. Judd & Felix Kubler & Karl Schmedders, 2011.
"
**Bond Ladders and Optimal Portfolios**," The Review of Financial Studies, Society for Financial Studies, vol. 24(12), pages 4123-4166.

- Kenneth L. Judd & Felix Kubler & Karl Schmedders, 2011.
"
- Felix Kuber & Karl Schmedders, 2007.
"
**Competitive Equilibria in Semi-Algebraic Economies**," PIER Working Paper Archive 07-013, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.- Kubler, Felix & Schmedders, Karl, 2010.
"
**Competitive equilibria in semi-algebraic economies**," Journal of Economic Theory, Elsevier, vol. 145(1), pages 301-330, January.

- Kubler, Felix & Schmedders, Karl, 2010.
"
- Kenneth L. Judd & Felix Kubler & Karl Schmedders, 2006.
"
**Bond Portfolios and Two-Fund Separation in the Lucas Asset-Pricing Model**," Discussion Papers 1427, Northwestern University, Center for Mathematical Studies in Economics and Management Science. - Karl Schmedders & Ken Judd, 2005.
"
**A Computational Approach to Proving Uniqueness in Dynamic Games**," Computing in Economics and Finance 2005 412, Society for Computational Economics. - Karl Schmedders, 2005.
"
**Two-Fund Separation in Dynamic General Equilibrium**," Discussion Papers 1398, Northwestern University, Center for Mathematical Studies in Economics and Management Science.- ,, 2007.
"
**Two-fund separation in dynamic general equilibrium**," Theoretical Economics, Econometric Society, vol. 2(2), June.

- Karl Schmedders, 2005.
"
**Two-Fund Separation in Dynamic General Equilibrium**," 2005 Meeting Papers 148, Society for Economic Dynamics.

- ,, 2007.
"
- Alessandro Citanna & Karl Schmedders, 2005.
"
**Excess price volatility and financial innovation**," Post-Print hal-00480119, HAL.- Alessandro Citanna & Karl Schmedders, 2005.
"
**Excess price volatility and financial innovation**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(3), pages 559-587, October.

- Alessandro Citanna & Karl Schmedders, 2005.
"
- Felix Kubler & Karl Schmedders, 2003.
"
**Approximate Versus Exact Equilibria**," Discussion Papers 1382, Northwestern University, Center for Mathematical Studies in Economics and Management Science.- K.Schmedders & F.Kubler, 2004.
"
**Approximate Versus Exact Equilibria**," Computing in Economics and Finance 2004 46, Society for Computational Economics.

- K.Schmedders & F.Kubler, 2004.
"
- Robert L. Earle & Karl Schmedders & Tymon Tatur, 2002.
"
**Price Caps and Uncertain Demands**," Discussion Papers 1340, Northwestern University, Center for Mathematical Studies in Economics and Management Science. - Alessandro, CITANNA & SCHMEDDERS, Karl, 2002.
"
**Controlling price volatility through financial innovation**," HEC Research Papers Series 749, HEC Paris.- Alessandro Citanna & Karl Schmedders, 2002.
"
**Controlling Price Volatility Through Financial Innovation**," Working Papers hal-00594367, HAL. - Alessandro Citanna & Karl Schmedders, 2002.
"
**Controlling Price Volatility Through Financial Innovation**," Discussion Papers 1338, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

- Alessandro Citanna & Karl Schmedders, 2002.
"
- Ken Judd & Karl Schmedders & Sevin Yeltekin, 2002.
"
**Optimal Policies for Patent Races**," Computing in Economics and Finance 2002 253, Society for Computational Economics. - Karl Schmedders, Felix Kubler, 2001.
"
**Asset Pricing in Models with incomplete markets and default**," Computing in Economics and Finance 2001 58, Society for Computational Economics. - Robert L. Earle & Karl Schmedders, 2001.
"
**Demand Uncertainty and Risk-aversion: Why Price Caps May Lead to Higher Prices**," Discussion Papers 1330, Northwestern University, Center for Mathematical Studies in Economics and Management Science. - P. Jean-Jacques Herings & Karl Schmedders, 2001.
"
**Computing Equilibria in Finance Economies with Incomplete Markets and Transaction Costs**," Discussion Papers 1318, Northwestern University, Center for Mathematical Studies in Economics and Management Science.- P. Herings & Karl Schmedders, 2006.
"
**Computing equilibria in finance economies with incomplete markets and transaction costs**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 27(3), pages 493-512, April.

- Herings, P.J.J. & Schmedders, K., 2000.
"
**Computing equilibria in finance economies with incomplete markets and transaction costs**," Research Memorandum 034, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).

- P. Herings & Karl Schmedders, 2006.
"
- Felix Kubler & Karl Schmedders, 2001.
"
**Stationary Equilibria in Asset-Pricing Models with Incomplete Markets and Collateral**," Discussion Papers 1319, Northwestern University, Center for Mathematical Studies in Economics and Management Science.- Felix Kubler & Karl Schmedders, 2003.
"
**Stationary Equilibria in Asset-Pricing Models with Incomplete Markets and Collateral**," Econometrica, Econometric Society, vol. 71(6), pages 1767-1793, November.

- Felix Kubler & Karl Schmedders, 2003.
"
- Felix Kubler & Karl Schmedders, 2000.
"
**Incomplete Markets, Transitory Shocks and Welfare**," Levine's Working Paper Archive 2133, David K. Levine.- Felix Kubler & Karl Schmedders, 2001.
"
**Incomplete Markets, Transitory Shocks, and Welfare**," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(4), pages 747-766, October.

- Felix Kubler & Karl Schmedders, 2000.
"
**Incomplete Markets, Transitory Shocks, and Welfare**," Discussion Papers 1285, Northwestern University, Center for Mathematical Studies in Economics and Management Science. - Felix Kubler & Karl Schmedders, 2000.
"
**Incomplete Markets, Transitory Shocks And Welfare**," Computing in Economics and Finance 2000 130, Society for Computational Economics.

- Felix Kubler & Karl Schmedders, 2001.
"
- Kenneth L. Judd & Felix Kubler & Karl Schmedders, 2000.
"
**Asset Trading Volume with Dynamically Complete Markets and Heterogeneous Agents**," Discussion Papers 1294, Northwestern University, Center for Mathematical Studies in Economics and Management Science.- Kenneth L. Judd & Felix Kubler & Karl Schmedders, 2003.
"
**Asset Trading Volume with Dynamically Complete Markets and Heterogeneous Agents**," Journal of Finance, American Finance Association, vol. 58(5), pages 2203-2217, October.

- Kenneth L. Judd & Felix Kubler & Karl Schmedders, 2003.
"
- Buijink, W.F.J. & Janssen, J.B.P.E.C. & Schols, Y.J., 2000.
"
**Evidence of the effect of domicile on corporate average effective tax rates in the European Union**," Research Memorandum 049, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR). - Karl Schmedders, 2000.
"
**Monopolistic Security Design in Finance Economies**," Discussion Papers 1288, Northwestern University, Center for Mathematical Studies in Economics and Management Science.- Karl Schmedders, 2001.
"
**Monopolistic security design in finance economies**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 18(1), pages 37-72.

- Karl Schmedders, 2000.
"
**Monopolistic Security Design In Finance Economies**," Computing in Economics and Finance 2000 129, Society for Computational Economics.

- Karl Schmedders, 2001.
"
- Karl Schmedders, "undated".
"
**Computational General Equilibrium with Incomplete Assets**," Computing in Economics and Finance 1997 70, Society for Computational Economics. - Kenneth Judd & Karl Schmedders & Sevin Yeltekin, "undated".
"
**Optimal Rules for Patent Races**," GSIA Working Papers 2006-E37, Carnegie Mellon University, Tepper School of Business.- By Kenneth L. Judd & Karl Schmedders & Şevin Yeltekin, 2012.
"
**Optimal Rules For Patent Races**," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(1), pages 23-52, February.

- Kenneth Judd & Karl Schmedders, 2002.
"
**Optimal Rules for Patent Races**," Discussion Papers 1343, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

- By Kenneth L. Judd & Karl Schmedders & Şevin Yeltekin, 2012.
"

### Articles

- Walter Pohl & Karl Schmedders & Ole Wilms, 2024.
"
**Existence of the Wealth-Consumption Ratio in Asset Pricing Models with Recursive Preferences**," The Review of Financial Studies, Society for Financial Studies, vol. 37(3), pages 989-1028. - Cabolis, Christos & Lavanchy, Maude & Schmedders, Karl, 2023.
"
**The fundamental problem with ESG? Conflicting letters**," Journal of Financial Transformation, Capco Institute, vol. 57, pages 110-117. - Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2023.
"
**Re-use of collateral: Leverage, volatility, and welfare**," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 19-46, January.- Brumm, Johannes & Grill, Michael & Kubler, Felix & Schmedders, Karl, 2018.
"
**Re-use of collateral: leverage, volatility, and welfare**," Working Paper Series 2218, European Central Bank. - Michael Grill & Karl Schmedders & Felix Kubler & Johannes Brumm, 2017.
"
**Re-use of Collateral: Leverage, Volatility, and Welfare**," 2017 Meeting Papers 697, Society for Economic Dynamics. - Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2017.
"
**Re-Use of Collateral: Leverage, Volatility, and Welfare**," Swiss Finance Institute Research Paper Series 17-04, Swiss Finance Institute. - Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2022.
"
**Code and data files for "Re-use of collateral: Leverage, volatility, and welfare"**," Computer Codes 20-480, Review of Economic Dynamics.

- Brumm, Johannes & Grill, Michael & Kubler, Felix & Schmedders, Karl, 2018.
"
- Yifan Zhao & Arnab Basu & Thomas S. Lontzek & Karl Schmedders, 2023.
"
**The Social Cost of Carbon When We Wish for Full-Path Robustness**," Management Science, INFORMS, vol. 69(12), pages 7585-7606, December. - Maximilian Adelmann & Lucio Fernandez-Arjona & Janos Mayer & Karl Schmedders, 2021.
"
**A Large-Scale Optimization Model for Replicating Portfolios in the Life Insurance Industry**," Operations Research, INFORMS, vol. 69(4), pages 1134-1157, July.- Maximilian ADELMANN & Lucio FERNANDEZ ARJONA & Janos MAYER & Karl SCHMEDDERS, 2016.
"
**A Large-Scale Optimization Model for Replicating Portfolios in the Life Insurance Industry**," Swiss Finance Institute Research Paper Series 16-04, Swiss Finance Institute.

- Maximilian ADELMANN & Lucio FERNANDEZ ARJONA & Janos MAYER & Karl SCHMEDDERS, 2016.
"
- Pohl, Walter & Schmedders, Karl & Wilms, Ole, 2021.
"
**Asset pricing with heterogeneous agents and long-run risk**," Journal of Financial Economics, Elsevier, vol. 140(3), pages 941-964. - Philipp Renner & Karl Schmedders, 2020.
"
**Discrete‐time dynamic principal–agent models: Contraction mapping theorem and computational treatment**," Quantitative Economics, Econometric Society, vol. 11(4), pages 1215-1251, November. - Miftakhova, Alena & Judd, Kenneth L. & Lontzek, Thomas S. & Schmedders, Karl, 2020.
"
**Statistical approximation of high-dimensional climate models**," Journal of Econometrics, Elsevier, vol. 214(1), pages 67-80.- Alena Miftakhova & Kenneth L. Judd & Thomas S. Lontzek & Karl Schmedders, 2016.
"
**Statistical Approximation of High-Dimensional Climate Models**," Swiss Finance Institute Research Paper Series 16-76, Swiss Finance Institute.

- Alena Miftakhova & Kenneth L. Judd & Thomas S. Lontzek & Karl Schmedders, 2016.
"
- Alena Miftakhova & Karl Schmedders & Malte Schumacher, 2020.
"
**Computing Economic Equilibria Using Projection Methods**," Annual Review of Economics, Annual Reviews, vol. 12(1), pages 317-353, August. - Walter Pohl & Karl Schmedders & Ole Wilms, 2018.
"
**Higher Order Effects in Asset Pricing Models with Long‐Run Risks**," Journal of Finance, American Finance Association, vol. 73(3), pages 1061-1111, June.- Ole Wilms & Karl Schmedders & Walt Pohl, 2016.
"
**Higher-Order Effects in Asset-Pricing Models with Long-Run Risks**," 2016 Meeting Papers 306, Society for Economic Dynamics.

- Ole Wilms & Karl Schmedders & Walt Pohl, 2016.
"
- Paarsch Harry J. & Schmedders Karl, 2018.
"
**Introduction: Einführung**," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 238(3-4), pages 183-187, July. - Fabian Ackermann & Walt Pohl & Karl Schmedders, 2017.
"
**Optimal and Naive Diversification in Currency Markets**," Management Science, INFORMS, vol. 63(10), pages 3347-3360, October.- Fabian Ackermann & Walt Pohl & Karl Schmedders, 2012.
"
**Optimal and Naive Diversification in Currency Markets**," Swiss Finance Institute Research Paper Series 12-36, Swiss Finance Institute.

- Fabian Ackermann & Walt Pohl & Karl Schmedders, 2012.
"
- Pohl, Walter & Schmedders, Karl & Wilms, Ole, 2016.
"
**Asset prices with non-permanent shocks to consumption**," Journal of Economic Dynamics and Control, Elsevier, vol. 69(C), pages 152-178. - Philipp Renner & Karl Schmedders, 2015.
"
**A Polynomial Optimization Approach to Principal–Agent Problems**," Econometrica, Econometric Society, vol. 83, pages 729-769, March.- Philipp Renner & Karl Schmedders, 2012.
"
**A Polynomial Optimization Approach to Principal-Agent Problems**," Swiss Finance Institute Research Paper Series 12-35, Swiss Finance Institute.

- Philipp Renner & Karl Schmedders, 2012.
"
- Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2015.
"
**Collateral Requirements And Asset Prices**," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 56(1), pages 1-25, February.- Johannes Brumm & Michael GRILL & Felix KUBLER & Karl SCHMEDDERS, 2011.
"
**Collateral Requirements and Asset Prices**," Swiss Finance Institute Research Paper Series 11-10, Swiss Finance Institute. - Michael Grill & Karl Schmedders & Felix Kubler & Johannes Brumm, 2011.
"
**Collateral Requirements and Asset Prices**," 2011 Meeting Papers 737, Society for Economic Dynamics. - Brumm, Johannes & Grill, Michael & Kubler, Felix & Schmedders, Karl, 2013.
"
**Collateral requirements and asset prices**," Discussion Papers 44/2013, Deutsche Bundesbank.

- Johannes Brumm & Michael GRILL & Felix KUBLER & Karl SCHMEDDERS, 2011.
"
- Brumm, Johannes & Grill, Michael & Kubler, Felix & Schmedders, Karl, 2015.
"
**Margin regulation and volatility**," Journal of Monetary Economics, Elsevier, vol. 75(C), pages 54-68.- Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2013.
"
**Margin Regulation and Volatility**," Swiss Finance Institute Research Paper Series 13-59, Swiss Finance Institute. - Brumm, Johannes & Kubler, Felix & Grill, Michael & Schmedders, Karl, 2014.
"
**Margin regulation and volatility**," Working Paper Series 1698, European Central Bank.

- Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2013.
"
- Kenneth L. Judd & Philipp Renner & Karl Schmedders, 2012.
"
**Finding all pure‐strategy equilibria in games with continuous strategies**," Quantitative Economics, Econometric Society, vol. 3(2), pages 289-331, July. - By Kenneth L. Judd & Karl Schmedders & Şevin Yeltekin, 2012.
"
**Optimal Rules For Patent Races**," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(1), pages 23-52, February.- Kenneth Judd & Karl Schmedders, 2002.
"
**Optimal Rules for Patent Races**," Discussion Papers 1343, Northwestern University, Center for Mathematical Studies in Economics and Management Science. - Kenneth Judd & Karl Schmedders & Sevin Yeltekin, "undated".
"
**Optimal Rules for Patent Races**," GSIA Working Papers 2006-E37, Carnegie Mellon University, Tepper School of Business.

- Kenneth Judd & Karl Schmedders, 2002.
"
- Felix Kubler & Karl Schmedders, 2012.
"
**Financial Innovation and Asset Price Volatility**," American Economic Review, American Economic Association, vol. 102(3), pages 147-151, May. - Kenneth L. Judd & Felix Kubler & Karl Schmedders, 2011.
"
**Bond Ladders and Optimal Portfolios**," The Review of Financial Studies, Society for Financial Studies, vol. 24(12), pages 4123-4166.- Kenneth L. JUDD & Felix KUBLER & Karl SCHMEDDERS, 2008.
"
**Bond Ladders and Optimal Portfolios**," Swiss Finance Institute Research Paper Series 08-32, Swiss Finance Institute.

- Kenneth L. JUDD & Felix KUBLER & Karl SCHMEDDERS, 2008.
"
- Felix Kubler & Karl Schmedders, 2010.
"
**Uniqueness of Steady States in Models with Overlapping Generations**," Journal of the European Economic Association, MIT Press, vol. 8(2-3), pages 635-644, 04-05. - Kubler, Felix & Schmedders, Karl, 2010.
"
**Competitive equilibria in semi-algebraic economies**," Journal of Economic Theory, Elsevier, vol. 145(1), pages 301-330, January.- Felix Kuber & Karl Schmedders, 2007.
"
**Competitive Equilibria in Semi-Algebraic Economies**," PIER Working Paper Archive 07-013, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.

- Felix Kuber & Karl Schmedders, 2007.
"
- Felix Kubler & Karl Schmedders, 2010.
"
**Tackling Multiplicity of Equilibria with Gröbner Bases**," Operations Research, INFORMS, vol. 58(4-part-2), pages 1037-1050, August. - Felix Kubler & Karl Schmedders, 2010.
"
**Non-parametric counterfactual analysis in dynamic general equilibrium**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 45(1), pages 181-200, October.- Felix KUBLER & Karl SCHMEDDERS, 2009.
"
**Non-parametric counterfactual analysis in dynamic general equilibrium**," Swiss Finance Institute Research Paper Series 09-05, Swiss Finance Institute. - Felix Kubler & Karl Schmedders, 2007.
"
**Non-parametric counterfactual analysis in dynamic general equilibrium**," PIER Working Paper Archive 07-027, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.

- Felix KUBLER & Karl SCHMEDDERS, 2009.
"
- ,, 2007.
"
**Two-fund separation in dynamic general equilibrium**," Theoretical Economics, Econometric Society, vol. 2(2), June.- Karl Schmedders, 2005.
"
**Two-Fund Separation in Dynamic General Equilibrium**," 2005 Meeting Papers 148, Society for Economic Dynamics. - Karl Schmedders, 2005.
"
**Two-Fund Separation in Dynamic General Equilibrium**," Discussion Papers 1398, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

- Karl Schmedders, 2005.
"
- Robert Earle & Karl Schmedders & Tymon Tatur, 2007.
"
**On Price Caps Under Uncertainty**," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 74(1), pages 93-111. - P. Herings & Karl Schmedders, 2006.
"
**Computing equilibria in finance economies with incomplete markets and transaction costs**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 27(3), pages 493-512, April.- P. Jean-Jacques Herings & Karl Schmedders, 2001.
"
**Computing Equilibria in Finance Economies with Incomplete Markets and Transaction Costs**," Discussion Papers 1318, Northwestern University, Center for Mathematical Studies in Economics and Management Science. - Herings, P.J.J. & Schmedders, K., 2000.
"
**Computing equilibria in finance economies with incomplete markets and transaction costs**," Research Memorandum 034, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).

- P. Jean-Jacques Herings & Karl Schmedders, 2001.
"
- Judd, Kenneth L. & Kubler, Felix & Schmedders, Karl, 2006.
"
**Reply to "Asset trading volume in infinite-horizon economies with dynamically complete markets and heterogeneous agents: Comment"**," Finance Research Letters, Elsevier, vol. 3(2), pages 102-105, June. - Felix Kubler & Karl Schmedders, 2005.
"
**Approximate versus Exact Equilibria in Dynamic Economies**," Econometrica, Econometric Society, vol. 73(4), pages 1205-1235, July.- Felix Kubler & Karl Schmedders, 2008.
"
**Approximate Versus Exact Equilibria in Dynamic Economies**," Lecture Notes in Economics and Mathematical Systems, in: Computational Aspects of General Equilibrium Theory, pages 135-163, Springer.

- Felix Kubler & Karl Schmedders, 2008.
"
- Alessandro Citanna & Karl Schmedders, 2005.
"
**Excess price volatility and financial innovation**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(3), pages 559-587, October.- Alessandro Citanna & Karl Schmedders, 2005.
"
**Excess price volatility and financial innovation**," Post-Print hal-00480119, HAL.

- Alessandro Citanna & Karl Schmedders, 2005.
"
- Kenneth L. Judd & Felix Kubler & Karl Schmedders, 2003.
"
**Asset Trading Volume with Dynamically Complete Markets and Heterogeneous Agents**," Journal of Finance, American Finance Association, vol. 58(5), pages 2203-2217, October.- Kenneth L. Judd & Felix Kubler & Karl Schmedders, 2000.
"
**Asset Trading Volume with Dynamically Complete Markets and Heterogeneous Agents**," Discussion Papers 1294, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

- Kenneth L. Judd & Felix Kubler & Karl Schmedders, 2000.
"
- Felix Kubler & Karl Schmedders, 2003.
"
**Stationary Equilibria in Asset-Pricing Models with Incomplete Markets and Collateral**," Econometrica, Econometric Society, vol. 71(6), pages 1767-1793, November.- Felix Kubler & Karl Schmedders, 2001.
"
**Stationary Equilibria in Asset-Pricing Models with Incomplete Markets and Collateral**," Discussion Papers 1319, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

- Felix Kubler & Karl Schmedders, 2001.
"
- Felix Kubler & Karl Schmedders, 2003.
"
**Generic inefficiency of equilibria in the general equilibrium model with incomplete asset markets and infinite time**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 22(1), pages 1-15, August. - Kubler, Felix & Schmedders, Karl, 2002.
"
**Recursive Equilibria In Economies With Incomplete Markets**," Macroeconomic Dynamics, Cambridge University Press, vol. 6(2), pages 284-306, April. - Karl Schmedders, 2001.
"
**Monopolistic security design in finance economies**," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 18(1), pages 37-72.- Karl Schmedders, 2000.
"
**Monopolistic Security Design in Finance Economies**," Discussion Papers 1288, Northwestern University, Center for Mathematical Studies in Economics and Management Science. - Karl Schmedders, 2000.
"
**Monopolistic Security Design In Finance Economies**," Computing in Economics and Finance 2000 129, Society for Computational Economics.

- Karl Schmedders, 2000.
"
- Felix Kubler & Karl Schmedders, 2001.
"
**Incomplete Markets, Transitory Shocks, and Welfare**," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(4), pages 747-766, October.- Felix Kubler & Karl Schmedders, 2000.
"
**Incomplete Markets, Transitory Shocks, and Welfare**," Discussion Papers 1285, Northwestern University, Center for Mathematical Studies in Economics and Management Science. - Felix Kubler & Karl Schmedders, 2000.
"
**Incomplete Markets, Transitory Shocks and Welfare**," Levine's Working Paper Archive 2133, David K. Levine. - Felix Kubler & Karl Schmedders, 2000.
"
**Incomplete Markets, Transitory Shocks And Welfare**," Computing in Economics and Finance 2000 130, Society for Computational Economics.

- Felix Kubler & Karl Schmedders, 2000.
"
- Kubler, Felix & Schmedders, Karl, 2000.
"
**Computing Equilibria in Stochastic Finance Economies**," Computational Economics, Springer;Society for Computational Economics, vol. 15(1-2), pages 145-172, April. - Judd, Kenneth L. & Kubler, Felix & Schmedders, Karl, 2000.
"
**Computing equilibria in infinite-horizon finance economies: The case of one asset**," Journal of Economic Dynamics and Control, Elsevier, vol. 24(5-7), pages 1047-1078, June. - Eaves, B. Curtis & Schmedders, Karl, 1999.
"
**General equilibrium models and homotopy methods**," Journal of Economic Dynamics and Control, Elsevier, vol. 23(9-10), pages 1249-1279, September. - Schmedders, Karl, 1998.
"
**Computing equilibria in the general equilibrium model with incomplete asset markets**," Journal of Economic Dynamics and Control, Elsevier, vol. 22(8-9), pages 1375-1401, August.

RePEc:oup:revfin:v:37:y:2024:i:3:p:989-1028. is not listed on IDEAS

### Software components

- Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2022.
"
**Code and data files for "Re-use of collateral: Leverage, volatility, and welfare"**," Computer Codes 20-480, Review of Economic Dynamics.- Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2023.
"
**Re-use of collateral: Leverage, volatility, and welfare**," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 19-46, January.

- Johannes Brumm & Michael Grill & Felix Kubler & Karl Schmedders, 2023.
"

### Chapters

- Felix Kubler & Karl Schmedders, 2008.
"
**Approximate Versus Exact Equilibria in Dynamic Economies**," Lecture Notes in Economics and Mathematical Systems, in: Computational Aspects of General Equilibrium Theory, pages 135-163, Springer.- Felix Kubler & Karl Schmedders, 2005.
"
**Approximate versus Exact Equilibria in Dynamic Economies**," Econometrica, Econometric Society, vol. 73(4), pages 1205-1235, July.

- Felix Kubler & Karl Schmedders, 2005.
"

### Books

- Diethard Klatte & Hans-Jakob Lüthi & Karl Schmedders (ed.), 2012.
"
**Operations Research Proceedings 2011**," Operations Research Proceedings, Springer, edition 127, number 978-3-642-29210-1, March.

## More information

Research fields, statistics, top rankings, if available.### Statistics

#### Access and download statistics for all items

### Rankings

This author is among the top 5% authors according to these criteria:- Number of Distinct Works, Weighted by Simple Impact Factor
- Number of Distinct Works, Weighted by Recursive Impact Factor
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- Number of Distinct Works, Weighted by Number of Authors and Recursive Impact Factors
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- Number of Journal Pages, Weighted by Simple Impact Factor
- Number of Journal Pages, Weighted by Recursive Impact Factor
- Number of Journal Pages, Weighted by Number of Authors and Simple Impact Factors
- Number of Journal Pages, Weighted by Number of Authors and Recursive Impact Factors

### Co-authorship network on CollEc

### NEP Fields

NEP is an announcement service for new working papers, with a weekly report in each of many fields. This author has had 29 papers announced in NEP. These are the fields, ordered by number of announcements, along with their dates. If the author is listed in the directory of specialists for this field, a link is also provided.- NEP-DGE:
**Dynamic General Equilibrium**(16) 2000-07-03 2000-10-05 2000-10-05 2005-12-01 2007-04-09 2007-04-09 2007-09-30 2009-06-03 2013-04-20 2013-04-20 2013-11-29 2014-12-03 2016-08-07 2017-09-17 2017-11-19 2018-12-24. Author is listed - NEP-MIC:
**Microeconomics**(7) 2000-05-08 2002-04-15 2009-06-03 2016-08-07 2016-08-07 2017-02-12 2017-11-19. Author is listed - NEP-UPT:
**Utility Models and Prospect Theory**(6) 2007-04-09 2007-09-30 2016-07-23 2016-08-07 2017-02-12 2017-11-19. Author is listed - NEP-CMP:
**Computational Economics**(5) 2001-09-26 2004-02-23 2016-07-23 2016-08-07 2017-02-05. Author is listed - NEP-FMK: Financial Markets (4) 2000-05-08 2000-10-05 2000-10-05 2001-09-26
- NEP-RMG: Risk Management (4) 2016-07-30 2017-03-19 2017-09-17 2018-12-24
- NEP-BAN: Banking (3) 2017-03-19 2017-09-17 2018-12-24
- NEP-CSE: Economics of Strategic Management (3) 2016-08-07 2016-08-07 2016-08-07
- NEP-ORE: Operations Research (3) 2016-08-07 2017-02-12 2017-11-19
- NEP-IND: Industrial Organization (2) 2000-05-08 2000-10-05
- NEP-CTA: Contract Theory and Applications (1) 2016-08-07
- NEP-ENE: Energy Economics (1) 2017-02-05
- NEP-ENV: Environmental Economics (1) 2017-02-05
- NEP-HRM: Human Capital and Human Resource Management (1) 2016-08-07
- NEP-IAS: Insurance Economics (1) 2016-07-30
- NEP-MAC: Macroeconomics (1) 2007-04-09
- NEP-REG: Regulation (1) 2002-06-13

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