Disparities across regions and provinces are on the agenda of both developed and developing countries. Differences in terms of development and income between regions are becoming more important policy challenge particularly in developing countries. As a developing country, inter-regional...

Given that India's urban areas contribute to nearly two-thirds of its gross domestic product, even though they account for only 31% of the country's population, they have been rightly called the engines of India's growth. In this paper, I answer the following questions: What are the economic...

The paper proposes a general asymmetric multifactor Wishart stochastic volatility (AMWSV) diffusion process which accommodates leverage, feedback effects and multifactor for the covariance process. The paper gives the closed-form solution for the conditional and unconditional Laplace transform...

Youth is one of the phases in the life-cycle when some of the most decisive life transitions take place. Entering the labour market or leaving parental home are events with important consequences for the economic well-being of young adults. In this paper, the interrelationship between...

In this paper, we develop a framework for measuring, allocating and managing systemic risk. SystRisk, our measure of total systemic risk, captures the a priori cost to society for providing tail-risk insurance to the financial system. Our allocation principle distributes the total systemic risk...