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United Nations conference had been an unqualified success, it would still not have made any difference to the world’s climate …. Only a radically different approach to international decision-making can save the world from over-heating. This alternative …
Persistent link: https://www.econbiz.de/10010323953
The global integration of financial markets has been accompanied by a transformation of their governance structures. Private intermediary organisations now play a more important role than in the past. A prominent example is provided by the commercial credit rating agencies that have established...
Persistent link: https://www.econbiz.de/10010323963
The political power of non-state actors (NSAs) remains a contested issue, as the continuing debates between neo-realists and transnationalists within the Study of International Relations (SIR) show. This paper builds on as well as tries to transcend this debate. Its objective is to bring more...
Persistent link: https://www.econbiz.de/10010323977
World Trade Organization (WTO), which operates under conditions of unanimity and has a membership of over 140 sovereign …
Persistent link: https://www.econbiz.de/10010323982
Do financial market analysts use structural economic models when forecasting exchange rates? This is the leading question analysed in this apper. In contrast to other studies we use expectations instead of realised data. Therefore we analyse the implicit structural models forecasters have in...
Persistent link: https://www.econbiz.de/10010324025
By applying SEMIFAR models (Beran, 1999), we examine 'long memory' in the volatility of worldwide stock market indices. Our analysis yields strong evidence of 'long memory' in stock market volatility, either in terms of stochastic long-range dependence or in form of deterministic trends. In some...
Persistent link: https://www.econbiz.de/10010324030
The distinction between stationarity, difference stationarity, deterministic trends as well as between short- and long-range dependence has a major impact on statistical conclusions, such as confidence intervals for population quantities or point and interval forecasts. In this paper, recent...
Persistent link: https://www.econbiz.de/10010324055
SEMIFAR models introduced in Beran (1999) provide a semiparametric modelling framework that enables the data analyst to separate deterministic and stochastic trends as well as short- and long-memory components in an observed time series. A correct distinction between these components, and in...
Persistent link: https://www.econbiz.de/10010324082
We use several well-being measures that combine average income with a measure of inequality to undertake international, intertemporal, and global comparisons of well-being. The conclusions emerging from the analysis are that our well-being measures drastically change our impression of levels of...
Persistent link: https://www.econbiz.de/10010324182
. Our global analysis covering ca. 81 per cent of the world's population demonstrates that global well-being is at least 50 … per cent smaller than world per capita income if the unequal income distribution is also factored in. Conversely, growth … in world well-being has been larger than world income growth between 1970-1998. Since the inclusion of inequality has an …
Persistent link: https://www.econbiz.de/10010324183