We use the notion of local Holder regularity to investigate the roughness of the pattern of EUR/USD exchange rate process as well as the corresponding investor sentiment dynamic process. Specifically, we use the pointwise Holder exponent to measure the local Holder regularity of a...

Press releases announcing and explaining monetary policy decisions play a critical role in the communication strategy of central banks. Due to their market-moving potential, it is particularly important how they are drafted. Often, central banks start from the previous statement, and update the...

While firms typically innovate through R&D, it is not the only way to make progress, since firms can also gain competitive advantage by learning from others -- through knowledge spillovers. This research hypothesizes that firms headquartered near a knowledge center, as defined by Carnegie...