Existing methods for data interpolation or backdating are either univariate or based on a very limited number of series, due to data and computing constraints that were binding until the recent past. Nowadays large datasets are readily available, and models with hundreds of parameters are fastly...

Existing methods for data interpolation or backdating are either univariate or based on a very limited number of series, due to data and computing constraints that were binding until the recent past. Nowadays large datasets are readily available, and models with hundreds of parameters are fastly...

Price indices for heterogenous goods such as real estate or fine art constitute crucial information for institutional or private investors considering alternative investments in times of financial markets turmoil. Classical mean-variance analysis of alternative investments has been hampered by...

We propose the relaxation algorithm as a simple and powerful method for simulating the transition process in growth models. This method has a number of important advantages: (1) It can easily deal with a wide range of dynamic systems including multi-dimensional systems with stable eigenvalues...

Growth models often give rise to saddle-point stable dynamic systems with multi-dimensional stable manifolds. It is argued that standard solution procedures used to numerically approximate the transition process are generally inadequate when the (stable) eigenvalues differ substantially in...

Analysis of the Constitutional Treaty of the European Union shows that there is a serious discrepancy between the voting power gradient of Member States computed by the Shapley-Shubik and Banzhaf indices. Given the lack of compelling arguments to choose between these indices on purely axiomatic...

Analysis of the Constitutional Treaty of the European Union shows that there is a serious discrepancy between the voting power gradient of Member States computed by the Shapley-Shubik and Banzhaf indices. Given the lack of compelling arguments to choose between these indices on purely axiomatic...

This paper proposes a method to construct composite index, which is a linear combination of several variables, by deriving weights on the criterion of Shapley value (from cooperative game theory) that a constituent variable has in making the composite index. In practice it is found oftentimes...

Price indices for heterogenous goods such as real estate or fine art constitute crucial information for institutional or private investors considering alternative investments in times of financial markets turmoil. Classical mean-variance analysis of alternative investments has been hampered by...

Neoclassical growth accounting is a methodology used to measure the contribution of different production factors to economic growth and to indirectly compute the rate of technological progress. This model assumes constant returns to scale and perfectly competitive factor markets, which implies...