In this paper, we show that traditional comparisons of Mean Squared Prediction Error (MSPE) between two competing forecasts may be highly controversial. This is so because when some specific conditions of efficiency are not met, the forecast displaying the lowest MSPE will also display the...

The purposes of this study were to present the current situation of poverty, economic growth, and economic development for five selected countries in Latin America and to examine the relationship between poverty, economic growth, and economic development through traditional log-linear regression...

The purposes of this study were to present the current situation of poverty, economic growth, and economic development for five selected countries in Latin America and to examine the relationship between poverty, economic growth, and economic development through traditional log-linear regression...

In order to fight collusive behaviors, the best scenario for competition authorities would be the possibility to analyze detailed information on firms' costs and prices, being the price-cost margin a robust indicator of market power. However, information on firms' costs is rarely available. In...

We used scanner data to test whether two competitive commodities respond symmetrically by volume to price changes. Our results indicate that consumers of the most expensive good (Coca-Cola) respond quite symmetrically when prices go either up or down. In contrast, consumers of the less expensive...

Recent financial crises and especially large corporate bankruptcies, have led bank managements and financial authorities to follow and monitor both financial and real sector risks, and to focus on firm failures. Bank of International Settlements, has therefore, taken the decision to include the...

Credit risk is crucial to understanding banks' production technology and should be explicitly accounted for when modeling the latter. The banking literature has largely accounted for risk by using ex-post realizations of banks' uncertain outputs and the variables intended to capture risk. This...

The purpose of the present paper is to describe a model of quarterly GDP forecast, categories of uses, in accordance with the development priorities of the Republic of Moldova in the medium term. The achievement of the main purpose requires to draw up the tasks, among which: - Conceptual...

Over the past few decades, the world has seen a stunning transformation of the tourism industry. The tourism industry is one of the world's largest and fastest growing economic sectors. Thus, it is one of the key economic drivers in most developed and developing countries. Despite the rapid...

In this paper we develop models for multivariate financial bubbles and antibubbles based on statistical physics. In particular, we extend a rich set of univariate models to higher dimensions. Changes in market regime can be explicitly shown to represent a phase transition from random to...