Of much interest in financial econometrics is the recovery of joint distributional behaviour of collections of contemporaneous financial time series, e.g., two related commodity price series, or two asset returns series. An approach to model their joint behaviour is to use copulas. Essentially,...

Motivated by the problem of setting prediction intervals in time series analysis, we suggest two new methods for conditional distribution estimation. The first method is based on locally fitting a logistic model and is in the spirit of recent work on locally parametric techniques in density...

Old elites can block changes, but not all do. Why is it that stronger elites may allow more changes than weaker elites? Why do economies with larger stocks of natural resources not grow faster than economies poorer in natural resources? We argue that old elites hold some power to extract rents...

The concept of sustainable finance is a relatively new concept that is increasingly accepted by the financial industry since the Berne Declaration came together to promote sustainable finance in the commercial sector. Although sustainable finance is very apt and timely, many issues need to be...

We study a generalised version of the logistic map of the unit interval $(0,1)$, in which the point $x$ is taken to $1-|2x-1|^nu$. Here, $nu 0$ is a parameter of the map, which has received attention only when $nu =1$ and 2. We obtain the invariant density when $nu = frac12$, and derive...

In order to develop statistical tests for the Lyapunov exponents of deterministic dynamical systems, we develop bootstrap tests based on empirical likelihood for percentiles and expectiles of strictly stationary processes. The percentiles and expectiles are estimated in terms of asymmetric least...

We propose an endogenous growth model that incorporates the importance of business contacts and informal contacts. In our model, sold output increases with the stock of business contacts. The modelling of contact creation is based on matching theory. The cost of creating contacts decreases with...

In a non-stationary job search model we allow unemployed workers to have a permanent option to leave the labor force. Transitions into non-participation occur when reservation wages drop below the utility of being nonparticipant. Taking account of these transitions allows the identification of...

Contacts and the way they are organized in different economic systemsmatter for the economy. In this paper we introduce the notion of Relational Capital to model contacts. Contacts are an input into sold output in our macro model based on matching theory (Pissarides, 1990). We argue that the...