Modeling futures market risk simultaneously influenced by macro low-frequency information and daily risk factors is a valuable challenge. We propose a new general framework for it based on the flexible GARCH-MIDAS model. It uses a skewed t distribution to describe the asymmetry of long and short...

While informal debt is often used as a funding source for retail investors, very little is known about the characteristics of its sources and use. This is particularly true in emerging markets where the use of informal debt is widespread. We examine the determinants of the use of informal debt...