This paper studies the frequency of observing a certain number of firms or employees in a region for a given industry. Various predictions for these frequencies are deduced from theoretical considerations. Then, the empirical distributions of 198 industries in Germany are analysed. It is found...

A stochastic model of the evolution of the firm population in a region and industry is developed. This model is used to make predictions about the expected probability distribution of the firm number in regions and their dynamics. Data on the spatial distribution of firms in Germany is used to...

In the paper we test for the different reactions of stock markets to the current financial crisis. We focus on Central European stock markets, namely the Czech, Polish and Hungarian ones, and compare them to the German and U.S. benchmark stock markets. Using wavelet analysis, we decompose a time...

In this paper, we contribute to the literature on international stock market comovement. The novelty of our approach lies in usage of wavelet tools to high-frequency financial market data, which allows us to understand the relationship between stock market returns in a different way. Major part...

The question whether alcohol in general, and different types of alcoholic beverages in particular (e.g., beer) are normal or inferior goods is a heavily disputed issue within economics and health research. Based on recently developed theories of preference adjustment this paper argues that the...

Assessing the extreme events is crucial in financial risk management. All risk managers and financial institutions want to know the risk of their portfolio under rare events scenarios. We illustrate a multivariate market risk estimating method which employs Monte Carlo simulations to estimate...