This paper analyzes ΔCoVaR proposed by Adrian and Brunnermeier (2011) as a tool for identifying/ranking systemically important institutions. We develop a test of significance of ΔCoVaR that allows determining whether or not a financial institution can be classified as being systemically...

This paper provides new evidence on the effect of pupil´s self-motivation andacademic assets allocation on the academic achievement in sciences acrosscountries. By using the Programme for International Student Assessment 2006 (PISA2006) test we find that both explanatory variables have a...