The parameters of a stochastic production frontier and the determinants of X inefficiency are estimated simultaneously using a maximum likelihood estimator proposed by Battese and Coelli (1995). Our results indicate that additional instructional and noninstruction expenditures improve student...

The likelihood of extreme daily changes in London Interbank Offer rates are estimated using the peaks-over-threshold method developed from extreme value theory. Value at risk and expected shortfall for high quantiles are produced for the left and right tails of the distributions for each...