A stochastic volatility model where volatility was driven solely by a latent variable called news was estimated for three stock indices. A Markov chain Monte Carlo algorithm was used for estimating Bayesian parameters and filtering volatilities. Volatility persistence being close to one was...

Bei der Messung der Intelligenz eines bestimmten Probanden liegen typischerweise unterschiedliche Testergebnisse vor und der untersuchende Psychologe möchte die vorliegenden Messwerte im Kontext der Ergebnisse anderer Probanden bewerten. Dabei will er das Potenzial seines Probanden...

Advanced industrial democracies experience increasing inequalities or at least a new trade-off between equality and growth: liberal welfare states opted for growth and accepted rising inequality, while conservative welfare states tried to hold back inequality, thereby accepting lower growth, and...

The objective of this paper is to provide a tool of practical significance for HR managers and firm executives. This tool, which is called Extrinsic Motivation Index (EMI), is meant to measure the extrinsic motivation of employees. By measuring employees' extrinsic motivation, managers are able...

Open source software systems are critical infrastructure for many applications; however, little has been precisely measured about their quality. Forecasting the field defect-occurrence rate over the entire lifespan of a release before deployment for open source software systems may enable...

We begin with the outlining the motivation of this research as there are still so many unanswered research questions on our complex financial and economic systems. The philosophical background and the advances of econometrics and econophysics are discussed to provide an overview of the...

A demographic development of advanced countries is characterized by worsening of the age structure and population aging. Similar trends show themselves also in the Czech and Slovak Republics. Owing to political and economic changes in both the states, there were also changes in a population...

Analyses of use and development of regional human resources are crucial for regional development strategy´s preparation. Just on basis of knowledge of human resources´ potential is possible to consequently elaborate comprehensive and realistic regional development concept with regard to needs,...

Risk management has been a topic of great interest to Michael McAleer. Even as recent as 2020, his paper on risk management for COVID-19 was published. In his memory, this article is focused on bankruptcy risk in financial firms. For financial institutions in particular, banks are considered...

We analyze micro-level data from the Danish credit register and find that female business owners pay higher interest rates on corporate loans than male owners. The gender gap is partly explained by differences in firm and loan characteristics. However, an economically and statistically...