Agglomeration economies play an important role in the explanation of the development and regional growth. For this reason, there exists a growing interest in the analysis of standards of co-localisation of the economic activities. This topic has been dealt with from different approaches using a...

This paper proposes a novel and simple approach to compute daily Value at Risk (VaR) and Expected Shortfall (ES) directly from high-frequency data. It assumes that financial logarithm prices are subordinated unifractal processes in the intrinsic time, which stochastically transforms the clock...