The present thesis examines the trade structure of South Africa as well as the impact of this structure on (un)employment. The starting point of this work is a descriptive analysis of the South African trade structure. Besides a general discussion, the thesis elaborates on structural differences...

The well-known absence-of-arbitrage condition NFLVR from the fundamentaltheorem of asset pricing splits into two conditions, called NA and NUPBR.We give a literature overview of several equivalent reformulations of NUPBR;these include existence of a growth-optimal portfolio, existence of the...

The policy agenda of extending working lives requires a holistic understandingof factors underlying the decision of older workers to withdraw from work andto retire. This brief paper presents employment patterns and trends of olderpeople across EU Member States and identifies policy initiatives...

This paper proposes several new tests for structural change in themultivariate linear regression model. One of the most popular alternatives are Sup-Wald type tests along the lines of Bai, Lumsdaine and Stock (1998), which Bernard,Idoudi, Khalaf and Yélou (2007) show to have very large size...

This paper extends the cross sectionally augmented panel unit root test proposed byPesaran (2007) to the case of a multifactor error structure. The basic idea is to exploitinformation regarding the unobserved factors that are shared by other time series in additionto the variable under...

This paper may be understood as a continuation of Topsøe’s seminal paper ([16]) to characterize, within an abstract setting, compact subsets of finite inner regular measures w.r.t. the weak topology. The new aspect is that neither assumptions on compactness of the inner approximating lattices...

This paper considers the implications of the permanent/transitory decomposition of shocksfor identification of structural models in the general case where the model might contain morethan one permanent structural shock. It provides a simple and intuitive generalization of theinfluential work of...

In this paper we address the manifold nature of knowledge through the analysis of four distinct butcomplementary phenomena (Internet hyperlinks, European research networks, EPO co-patent applications,Erasmus students mobility) that characterize knowledge as an intrinsic relational structure...

The models used in economic theory, though necessarily abstract,should be consistent with the nature of decision making behavior. Aformal metaphor of individual behavior as a continuous flow indicatescertain requirements that theories of consumer, producer, and economywidebehavior should...

We study probabilities which determine the payo of barrier options:the probability that an asset hits a barrier before maturity, theprobability that the asset is below the barrier at maturity, and theratio of both probabilities. The correct estimation of these probabilitieshas crucial eects on...