The reason for choosing this theme is that the employers show a lack of interest in the workforce that has benefited from the educational process, a lack of interest which begun to intensify lately, educational process meaning formal education, namely that obtained in universities. The...

Having as subject the labor market in the context of the contemporary world’s problems, this paper aims to make a theoretical and practical presentation of these concepts, which are relevant for the national and international literature. The first part, dealing with the state-of-the-art of the...

This paper investigates the dynamic evolution of tail risk interdependence among U.S. banks, financial services and insurance sectors. Life and non-life insurers have been considered separately to account for their different characteristics. The tail risk interdependence measurement framework...

It is well known that in a vector autoregressive (VAR) model Granger non-causality is characterized by a set of restrictions on the VAR coefficients. This characterization has been derived under the assumption of non-singularity of the covariance matrix of the innovations. This note shows that...

The method of instrumental variables (IV) and the generalized method of moments (GMM), and their applications to the estimation of errors-in-variables and simultaneous equations models in econometrics, require data on a sufficient number of instrumental variables that are both exogenous and...

This paper focuses on finding starting-values for the estimation of Vector STAR models. Based on a Monte Carlo study, different procedures are evaluated. Their performance is assessed with respect to model fit and computational effort. I employ (i) grid search algorithms and (ii) heuristic...

This paper examines a simple basis risk model based on correlated geometric Brownian motions. We apply quadratic criteria to minimize basis risk and hedge in an optimal manner. Initially, we derive the Föllmer–Schweizer decomposition for a European claim. This allows pricing and hedging under...

The Biggert-Waters Act of 2012 was designed to move the National Flood Insurance Program (NFIP) toward risk-based premiums that better reflect expected losses from floods at insured properties. The result of this legislation would have been premium increases for some households which had been...

This paper proposes plug-in bandwidth selection for kernel density estimation with discrete data via minimization of mean summed square error. Simulation results show that the plug-in bandwidths perform well, relative to cross-validated bandwidths, in non-uniform designs. We further find that...