Bootstrapping time series is one of the most acknowledged tools to make forecasts and study the statistical properties of an evolutive phenomenon. The idea underlying this procedure is to replicate the phenomenon on the basis of an observed sample. One of the most important classes of bootstrap...

Markov chain theory is proving to be a powerful approach to bootstrap highly nonlinear time series. In this work we provide a method to estimate the memory of a Markov chain (i.e. its order) and to identify its relevant states. In particular the choice of memory lags and the aggregation of...

Markov chain theory is proving to be a powerful approach to bootstrap finite states processes, especially where time dependence is non linear. In this work we extend such approach to bootstrap discrete time continuous-valued processes. To this purpose we solve a minimization problem to partition...

<font size="2" face="CMR10"><font size="2" face="CMR10">This paper analyzes the existing relationship between ethnolinguistic fractionalization, corruption and the growth rate of a country. We provide a simple theoretical model. We show that a non-linear relationship between fractionalization and corruption exists: corruptionis high in homogeneous or...</font></font>

<font size="2" face="CMR10"><font size="2" face="CMR10">In this paper, we explore tax revenues in a regime of widespread corruption in a growthmodel. We develop a Ramsey model of economic growth with rival but non-excludable public good which is financed by taxes which can be evaded via corrupt tax inspector.We prove that the relationship between the...</font></font>

<font size="2" face="CMR10"><font size="2" face="CMR10">In this paper we propose an exchange rate model as solution of a disutility based drift control problem. Assuming the exchange rate is a function of the fundamental, we suppose that Government Authorities control the fundamental's dynamics aimed at minimizing thediscounted expected disutility...</font></font>