In this paper we introduce a stochastic integral with respect to the process where 0[alpha]1/2, and Wt is a Brownian motion. Sufficient integrability conditions are deduced using the techniques of the Malliavin calculus and the notion of fractional derivative. We study continuity properties of...

In this paper we establish the existence and uniqueness of a solution for stochastic Volterra equations assuming that the coefficients F(t,s,x) and Gi(t,s,x) are Ft-measurable, for s[less-than-or-equals, slant]t, where {Ft} denotes the filtration generated by the driving Brownian motion. We...

We study the extent of macroeconomic convergence/divergence among euro area countries. Our analysis focuses on four variables (unemployment, inflation, relative prices and the current account), and seeks to uncover the role played by monetary union as a convergence factor by using non-euro...