Although London appeared as the first international financial center on the world, the number of these kind of centers show a notable increase in the recent years. Those centers are regarded as magnetic places for the economic issues and they also serve as important economic centers. In the...

It is a well-known fact that most of the asset returns tend to be skewed and heavytailed. Heavy tailed distributions such as the Student’s t distribution and Stable distribution are commonly used in finance to model asset returns that areheavy tailed. Additionally, Stable distribution allows...

This paper determines whether the VaR estimation is influenced by conditional distribution of return rates (normal, t-student, GED) and attempts to choose the model which best estimates VaR on a selected example. We considered logarithmic return rates for the WIG-20 index from 1999-2011. Then,...

This paper aims at testing the influence of Subprime Crisis on Chinese stock market returns. By means of newly proposed time series spatial analysis methodology, we investigate the dominance behavior of daily returns on both Shanghai Stock Exchange Composite Index and Shenzhen Stock Exchange...

This study examines the impact of volatility shifts on volatility persistence for three major sector indices of Istanbul Stock Exchange (ISE) and ISE National 100 index over the period beginning from 1997 and ending in 2009. The exponential generalized autoregressive conditional...

The determinants of corruption have been debated by economists and non-economists for the past few decades. However, no consensus has been reached about the exact determinants of corruption and as well the direction of the effect of some the known key variables used in corruption studies. Most...

Das Platzen von spekulativen Preisblasen an den Immobilienmärkten führt oft zu realwirtschaftlichen Verwerfungen, die mit hohen Produktions- und Beschäftigungsverlusten verbunden sind. In diesem Beitrag wird diskutiert, inwieweit institutionelle Rahmenbedingungen das Entstehen und die...

The present paper estimates the effect over participation outcomes of the new reform to the pension system made in Chile in 2008, using a difference in difference matching estimation. The main results found that the treated group shows a higher withdrawal from the labor market and that they...

Untersuchungen über die Preise auf dem Markt für Wohnimmobilien geben in aller Regel Aufschluss über die Preise für Wohnungen in einer bestimmten Lage oder mit einer bestimmten Beschaffenheit. Das DIW Berlin hat ein Verfahren entwickelt, mit dem die Preise für verschiedenartige Wohnungen zu...

Wird ein Flughafen neu gebaut oder ausgeweitet, steigt die Lärmbelästigung im Umkreis erheblich. Die Preise für Wohnungen und Häuser, die unterhalb der Flugkorridore liegen, sinken in der Folge spürbar. Bereits die Erwartungen bezüglich der künftigen Lärmbelastung können zu deutlichen...