This paper develops a framework for studying individuals ideas about what constitutes justcompensation for chief executive officers (CEOs) and reports estimates of just CEO pay andthe principles guiding ideas of justice. The sample consists of students pursuing a Master ofBusiness Administration...

Agent-based Computational Economics (ACE) is the computational study of economic processesmodeled as dynamic systems of interacting agents. This essay discusses the potentialuse of ACE modeling tools for the study of macroeconomic systems. Points are illustratedusing an ACE model of a two-sector...

As the link between tax compliance and tax morale is found to be robust,finding the determinants of tax morale can help to understand and fight taxevasion. In this paper we analyze the effect of progressive taxation on taxmorale in a cross-country approach - which has not been investigated...

As the link between tax compliance and tax morale is found to be robust, finding thedeterminants of tax morale can help to understand and fight tax evasion. In this paper weanalyze the effect of progressive taxation on tax morale in a cross-country approach – whichhas not been investigated...

We derive the statistical properties of the SNP densities of Gallant and Nychka (1987). Weshow that these densities, which are always positive, are more flexible than truncated Gram-Charlier expansions with positivity restrictions. We use the SNP densities for financialderivatives valuation. We...

Let W denote a family of probability distributions with parameter space t, and WG be a subfamily of W depending on a mapping G : O -- t. Extremum estimations of the parameter vector v e O are considered. Some sufficient conditions are presented to ensure the uniqueness with probability one. As...

Over recent years, study on risk management has been prompted by the Basel committee for regular banking supervisory. There are however limitations of some widely-used risk management methods that either calculate risk measures under the Gaussian distributional assumption or involve numerical...

The paper develops a non-parametric, non-stationary framework for business-cycle dating based on an innovative statistical methodology known as Adaptive Weights Smoothing (AWS). The methodology is used both for the study of the individual macroeconomic time series relevant to the dating of the...

The vast majority of regions in West Germany, and the EU, have become more similar in terms of per-capita income and productivity between 1980 and 2000. But a number of rich areas - generally large agglomerations - have succeeded in departing from this trend ofconvergence. They are continuing to...