The increasing availability of financial market data at intraday frequencies has led to the development of improved ex-post volatility measurements. In the process of structuring the portfolio, a key variable is the global volatility. The objective of this paper is to analyze the Romanian...

Uncertain behavior of extreme weather events is critical for insurance because of the financial effects that it generates. In this context, the effects of climate change on the frequency and hardness of natural disasters are vital information in order to restructure the portfolio of insurance...

In this paper, we intended to establish a grouping of the voluntary pension funds in Romania by risk levels using cluster analysis. The investment policy of the voluntary pension funds is influenced by a variety of factors: the taxpayers’ risk profile, the capital market conditions, and the...

This paper is studying the impact of public budget deficit on the economic growth. We have tested the connection between budget deficit and economic growth, using econometrical analysis (the Pool Data Model). Within this framework, we have quantified the intensity of connections between public...

he aim of this paper is to emphasize how the correlations between fiscal policy and economic growth are manifesting in the UE case. After theoretical framework, the paper is organized as follows: Section 2 tries to provide a model at micro-economic level for the interconnections between fiscal...

The classical models of portfolio selection could not be applied on a market were the efficient market hypothesis is not valid (at least in a "weak" sense). The aim of this paper is to enlighten the difficulties of portfolio construction in a financial market with institutional and structural...

The way in which the social subjects take decisions, the interactions established between these, the web of social institutions and rules, the architecture of the power relationships between the various “points of social coagulation” have as a foundation a complex set of determinants, in...

Economic policies and, particularly, fiscal policies are not designed and implemented in an “empty space”: the structural characteristics of the economic systems, the institutional architecture of societies, the cultural paradigm and the power relations between different social groups define...

The human movements across borders, societies and cultures are not running in an “empty space”: the structural characteristics of the economic systems, the institutional architecture of societies, the cultural paradigm and the power relations between different social groups, all define the...

The public authorities (the agency) messages could play a key role in the social subjects’ decisions. How and when the agency communicates the path of its future policies influences the present social and economic architecture. The aim of this paper is to advance an explanatory framework for...