This paper investigates how the ethnic gap in employment rates varies across skill levels. Instead of stratifying our sample in many dimensions (age groups, education levels...), we introduce a method that allows us to study the heterogeneity of binary outcomes with respect to all covariates at...

The increase of the expected lifetime, that is the longevity phenomenon, is accompanied by an increase of the number of seniors with a severe disability. Because of the significant costs of long term care facilities, it is important to analyze the time spent in long term care, as well as the...

In this paper, we explain why a nonparametric approach based on a betakernel [Renault, Scaillet (2004)] will lead to significant bias when appliedto recovery rate distributions. This is due to a specific feature of thesedistributions, which admit strictly positive weights at 100 %...

Council Regulation (EC) 1/2003 came into force on the 1st of May 2004 replacing themandatory notification of agreements between firms by a regime of ex post monitoring.This paper provides a theoretical justification for this shift based on the competitionauthority’s accuracy of judgement. We...

We consider the problems of derivative pricing and inference when the stochastic discount factor has an exponentialaffineform and the geometric return of the underlying asset has a dynamics characterized by a mixture of conditionallyNormal processes. We consider both the static case in which the...