Copulas offer financial risk managers a powerful tool to model the dependence between the different elements of a … an accurate copula for risk management. We extend standard goodness-of-fit tests to copulas. Contrary to existing … is too optimistic on diversification benefits, while the Gumbel copula is too pessimistic. Moreover, these differences …

We analyze the impact of mandatory access on the infrastructure investments of two competing communications networks …

productivity and human capital investments. Using light intensity as an alternative measure for economic activity confirms the …

investments of banks at the security level for 2005-2012 in conjunction with the credit register from Germany. Analyzing data at … increase their overall investments in securities, especially in those that had a larger price drop. The quantitative effects …

frictions, both parties in a match are partially locked-in when they bargain over the joint surplus from their sunk investments … case of investments in homogenous capital only the agents on the short side acquire ownership of capital. There is always …

investments. …