ways depending on social affinity and on the prospect of upward or downwardmobility of the different income classes, (ii …) income distribution dynamics, intergenerational community formation and growth. In a world in which redistributive policies … pattern of income distribution and local versus social spillovers ratio under which inequality and segregation persist in the …

In this experimental study of tax evasion and its determinants participants earn their income in a complex stochastic … intertemporal environment including the possibility to invest into a risky asset. The earned income has to be declared in four tax … donated to charity organizations. Our main results show that higher income induces tax fraud and that gender differences exist. …

series with a zero spectral density at some frequency. Estimation and inference can be performed using an Instrumental … an analysis of the comovement between Germany, Austria and the United Kingdom is presented. -- common feature analysis …

We establish a relation between stochastic volatility models and the class of generalized hyperbolic distributions …

Stochastic Volatility (SV) models are widely used in financial applications. To decide whether standard parametric …

find that the volatility depends on either the interest rate level or information shocks but not on both. Finally, we … propose to describe the short term interest rate's dynamics by means of an AR(1) model with stochastic volatility. -- Term … Structure Models ; Stochastic Volatility ; ARCH …

, and the Deutschmark-US dollar. The estimation results for both models show: (i) that the unrestricted model outperforms …

- 1998, namely FX-rates measured against the US dollar (USD) and the Japanese yen (JPY). Ta account for volatility e1ustering … prices. Having identified subperiods of homogeneous volatility dynamics we concentrate on stylized facts to distinguish these … volatility regimes. The bottom level of estimated volatility turns out be considerably higher during the second part of the …

Multivariate Volatility Models belong to the class of nonlinear models for financial data. Here we want to focus on …

prices caused by stochastic volatility. -- option pricing ; autoregression ; heteroskedasticity ; GARCH ; leverage effect …