A great proportion of stock dynamics can be explained using publicly available information. The relationship between dynamics and public information may be of nonlinear character. In this paper we offer an approach to stock picking by employing so-called decision trees and applying them to XETRA...

In this study we combine clustering techniques with a moving window algorithm in order to filter financial market data outliers. We apply the algorithm to a set of financial market data which consists of 25 series selected from a larger dataset using a cluster analysis technique taking into...

The standard approach to studying industrial agglomeration is to construct summary measures of the degree of agglomerationʺ within each industry and to test for significant agglomeration with respect to some appropriate reference measures. But such summary measures often fail to distinguish...

The aim of the paper is an examination wheatear the social spillover of consumption behaviours differs for the homophily and heterophily based structure of interactions. As an approximation of agents' behaviours households' expenditures with the reference person attributes were used. The...

In this paper the authors focus on credit connections as a potential source of systemic risk. In particular, they seek to answer the following question: how do we find densely connected subsets of nodes within a credit network? The question is relevant for policy, since these subsets are likely...

The classical theory about foreign exchange rate explains its fluctuations as the resulting of a random walk motion. In this paper, such a theory is put into question by performing Brock, Dechert and Scheinkman's (1987) test on the Austrian Schilling - US Dollars exchange rate for the period...

In all empirical-network studies, the observed properties of economic networks are informative only if compared with a well-defined null model that can quantitatively predict the behavior of such properties in constrained graphs. However, predictions of the available null-model methods can be...

This paper investigates the differences between directly and indirectly seasonally adjusted aggregates. This difference is derived analytically for linear seasonal adjustment methods. GDP data for five European countries and three classes of seasonal adjustment methods are used to show...