We analyze the price dynamics of European allowances and international carbon credits in the second phase of the European carbon market. We develop and use a model combining fundamental drivers associated with the demand for quotas by installations and risk-return considerations related to the...

This paper proposes a regularisation method for the estimation of large covariance matrices that uses insights from the multiple testing (MT) literature. The approach tests the statistical significance of individual pair-wise correlations and sets to zero those elements that are not...

This study develops a framework for forecasting selected balance sheet items of the four largest Maltese core banks, with a particular emphasis on bank profitability. Methodologically, it employs two multivariate time series models, namely a Factor-Augmented VAR (FAVAR) and a Bayesian VAR...

Institutional Fragmentation and Urbanisation in the EU Cities This article examines the relationship between institutional fragmentation and the spatial extent of cities in Europe's Functional Urban Areas. European Union planning regulations vary across member states, but in most cases, local...