Using variance risk premiums (VRPs) nonparametrically calculated from equity markets in selected major developed economies and emerging market economies (EMEs) over 2007 - 2015, we document the correlation of VRPs across the markets and examine whether equity fund flows work as a path through...

This study intends to understand how disaster is related to countries' production efficiency using a sample of 137 countries over 1980 - 2011. We analyze the effect of the number of man-made and natural disaster occurrences on countries' technological change (swift of the frontier) and...

In this paper we advocate using the latent class model (LCM) approach to control for technological differences in traditional efficiency analysis of regulated electricity networks. Our proposal relies on the fact that latent class models are designed to cluster firms by uncovering differences in...