The recent observed decline of business cycle variability suggests that broad macroeconomic risk may have fallen as well. This may in turn have some impact on equity risk premia. We investigate the latent structures in the volatilities of the business cycle and stock market valuations by...

This paper studies the nonlinear adjustment between industrial production and carbon prices – coined as ‘the carbon-macroeconomy relationship’ – in the EU 27. We model carbon price returns and industrial production as nonlinear and state-dependent, with dynamics depending on the sign and...

The Ohlson model (OM) builds on the accounting-based residual income valuation (RIV) model for equity valuation then specifies a linear information model (LIM) for the time-series behavior of residual income. As a result, stock price is related through a simple linear formula to current book...

Econometrics has strongly evolved in recent years on both the methodological level as well as in terms of applications. This article presents the different econometric methods (time series econometrics, information panels, models of duration,...) and their applications for the enterprise: demand...

The aim of this study is to highlight the characteristics of corruption and non-academic behaviour in higher education. Using data series recorded at a representative student sample we emphasise causal relationships between certain components of corruption and aspects of academic behaviour in...

Toward the late 1990s, several research groups independently began developing new, related theories in mathematical finance. These theories did away with the standard stochastic geometric diffusion "Samuelson" market model (also known as the Black-Scholes model because it is used in that most...

Using data from the Philippines, this article seeks to understand how households in the study area apparently manage to avoid falling into a debt trap in spite of frequent borrowing. Findings suggest that this is achieved via three institutional features. First, most informal debt carries no...

This paper studies the determinants of poverty dynamics in several rural areas from Madagascar. A particular attention is devoted to testing if rural poverty persistence in Madagascar could be explained by a vicious circle leading to a poverty trap. Annual poverty transitions retrieved from an...