From a banking supervisory perspective, this paper analyses aspects of market risk of an aggregated trading portfolio comprised of the trading books of 11 German banks with a regulatory approved internal market risk model. Based on real, clean profit and loss data and Value-at-Risk estimates of...

The dates of U.S. business cycle are reported by NBER with a considerable delay, so an early notion of turning points is of particular interest. This paper proposes a novel sequential approach designed for timely signaling these turning points. A directional cumulated sum decision rule is...

The ESS Handbook for Quality Reports and the ESS Standard for Quality Reports will assist National Statistical Institutes and Eurostat in meeting the Code of Practice standards by providing recommendations for preparing comprehensive quality reports for the full range of statistical processes...

This publication presents an updated version of the guidelines on the Harmonised European Time Use Surveys (HETUS). The first version, finished in 2000, was based on the recommendations of the final report on Time Use pilot surveys and on the discussions carried out with experts of the National...

While most economists agree that the recent worldwide financial crises evolved as a consequence of the US house price bubble, the related literature yet failed to deliver a consensus on the question when exactly the bubble started developing. The estimates in the literature range in between 1997...