Collecting data for the analysis of past human rights violations is fraught with challenges. For example, individuals from or about whom data should be collected may be displaced, missing, or dead. Some reports of acts may be easier to find than others, and as a result, datasets will be biased...

Abstract This paper starts from the observation that parameter instability and model uncertainty are relevant problems for the analysis of monetary policy in small macroeconomic models. We propose to deal with these two problems by implementing a novel "thick recursive modelling" approach. At...

Abstract When studying the causal effect of x on y , researchers may conduct regression and report a confidence interval for the slope coefficient ${\beta }_{x}$ . This common confidence interval provides an assessment of uncertainty from sampling error, but it does not assess uncertainty from...

Summary A popular argument about economic policy under uncertainty states that decentralisation offers the possibility to learn from local or regional policy experiments. Often, an analogy between market competition as a discovery procedure and political competition is used to corroborate this...

Abstract It is standard in quantitative risk management to model a random vector ${\mathbf {X}:=\lbrace X_{t_k}\rbrace _{k=1,\ldots ,d}}$ of consecutive log-returns to ultimately analyze the probability law of the accumulated return ${X_{t_1}+\cdots +X_{t_d}}$ . By the Markov regression...

Abstract Numerical challenges inherent in algorithms for computing worst Value-at-Risk in homogeneous portfolios are identified and solutions as well as words of warning concerning their implementation are provided. Furthermore, both conceptual and computational improvements to the Rearrangement...

Purpose The purpose of this paper is to improve control performance and safety of a real two-wheeled inverted pendulum (TWIP) robot by dealing with model uncertainty and motion restriction simultaneously, which can be extended to other TWIP robotic systems. Design/methodology/approach The...

Abstract International financial centers (IFCs) provide means of strengthening law and regulation not only in the financial sector, but also in global governance more broadly and the contribution their legal regimes make to economic development. By demonstrating how ideas move across...

Abstract Over the years, it has frequently been argued by economists that lighthouses need to be provided by the state. Ronald Coase demonstrated, in fact, that they could be provided privately. The same is true of financial regulation. Though many economists, using blackboard economics, argue...

Purpose – The purpose of this paper is to see if a difference exists between the impact of the subprime crisis on countries with more transparency and more regulated finance than on others. A further objective is to explain the success of the Brazilian case in avoiding the financial crisis and...