The Wishart Autoregressive (WAR) process is a multivariate process of stochastic positive definite matrices. The WAR is proposed in this paper as a dynamic model for stochastic volatility matrices. It yields simple nonlinear forecasts at any horizon and has factor representation, which separates...

This paper tries to go beyond regulation regimes to depict national uses of flexibility. On the basis of a company survey we are able to assess that a significant number of Danish firms applies a mix of internal and external modes of flexibility simultaneously. The second part of our analysis...