The aim of this paper is to identify whether the GARCH or the SV based models provide the best goodness of fit to financial time-series data. To investigate the issue, three different formulations for each type (i.e., the standard model, the fat-tailed model, and the asymmetric model) are...

A wavelet-based spectral method for estimating the (directional) Hurst parameter in isotropic and anisotropic non-stationary fractional Gaussian fields is proposed. The method can be applied to self-similar images and, in general, to d-dimensional data which scale. In the application part, the...

The study of avalanche events is particularly important to assess and predict the degree of risk involved in a given area and time. In this work we consider an alternative methodology based on a space-time point process where the intensity function indicates the limiting expected rate of...

In the mid 1980s there was a remarkable revival of interest in growth theory and once again this became a very active area of macroeconomic research. A relevant strand of this approach is characterized by the departure from the usual assumption of diminishing returns of capital or, more...

Purpose – The aim of this article is to analyze and compare the share economy and the constitutional economy approaches. The fact that numerous world-class multinationals have chosen to offer stock options to managers and bonus share incentives to employees denotes a realization that any...

Temporary and circular migration programs have been devised by many destination countries and supported by the European Commission as a policy to reduce welfare and social costs of immigration in destination countries. In this paper we present an additional reason for proposing temporary...

Migration is an important and yet neglected determinant of institutions. The paper documents the channels through which emigration affects home country institutions and considers dynamic-panel regressions for a large sample of developing countries. We find that emigration and human capital both...

This paper examines how immigration affects native wages by exploiting an unexpected episode of immigrant influx. The episode happened in Hong Kong, when its government unexpectedly relaxed the restriction on immigration from mainland China in 1993, resulting in a seven-fold increase in the net...