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Despite the availability of more sophisticated methods, a popular way to estimate a Pareto exponent is still to run an OLS regression: log(Rank)=a-b log(Size), and take b as an estimate of the Pareto exponent. The reason for this popularity is arguably the simplicity and robustness of this...
Persistent link: https://www.econbiz.de/10012465292
Despite the availability of more sophisticated methods, a popular way to estimate a Pareto exponent is still to run an OLS regression: log (Rank)= c - blog (Size), and take b as an estimate of the Pareto exponent. The reason for this popularity is arguably the simplicity and robustness of this...
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We study a competitive insurance industry in which insurers have limited liability, face frictional costs in holding capital, and offer coverage over a range of risk classes. We distinguish monoline and multiline industry structures, and provide what we believe are the first propositions...
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Weak convergence of partial sums and multilinear forms in independent random variables and linear processes to stochastic integrals now plays a major role in nonstationary time series and has been central to the development of unit root econometrics. The present paper develops a new and...
Persistent link: https://www.econbiz.de/10014070490