We propose a refinement of the criterion by Bai and Ng [2002] for determining the number of static factors in factor models with large datasets. It consists in multiplying the penalty function by a constant which tunes the penalizing power of the function itself as in the Hallin and Lika [2007]...

Policy analysis with potentially misspecified dynamic stochastic general equilibrium (DSGE) models faces two challenges: estimation of parameters that are relevant for policy trade-offs and treatment of estimated deviations from the cross-equation restrictions. This paper develops and explores...

Advanced modelling methodologies -- Modern business process languages -- Process models in dynamic environments -- Enriching process models and enactment architectures -- Business process management in organizations -- Improving business processes