The goal of this paper was to exploit the Bayesian approach and MCMC procedures to structure an internal model to quantify the reserve risk of a non-life insurer under Solvency II regulation. To this aim, we provide an extension of the Correlated Chain Ladder (CCL) model to the one-year time...

This study empirically addresses claims about the effects of strikes on output growth, inflation, and non-agricultural employment in South Africa using a structural analysis of Bayesian VAR models with a Normal inverted Wishart prior for the period 1982-2018. We find empirical support for a...