This paper undertakes the issue of portfolio insurance from the perspective of a risk-averse agent requiring his financial wealth to grow at a floored rate in excess of an equity benchmark. The suggested solution is a generalization of the CPPI approach within a two-equity asset framework. The...

Schwartz and Hayward offer an alternative analysis of air pollution levels, trends, and prospects in metropolitan areas across the United States.

Claims that air pollution will increase are not only false, but the exact opposite of what will actually happen.

Do good institutions foster trade? Many trade agreements, and notably those of the European Union, introduce institutional provisions in addition to strictly free-trade measures. In this article, we are interested in the influence of democracy and the fight against corruption on trade. We use a...