This note investigates the structure of dominance relations in daily returns of 32 German assets during the 1990s. We focus on stochastic dominance of first, second and third order but mean-variance and mean-Gini dominance is also considered. Efficient (i. e., nondominated) sets of assets are...

This paper provides a further generalization of co-integration tests in a nonparametric setting. We adopt Bierens' approach in order to give an extension for processes I(d), with a fixed integer d. A generalized eigenvalue problem is solved, and the test statistics involved are obtained starting...

We adapt Brandt's (1999) nonparametric approach to determine the optimal portfolio choice of a risk averse foreign exchange investor who uses moving average trading signals as the information instrument for investment opportunities. Additionally, we assess the economic value of the estimated...

In Belgium unemployment insurance benefits can only exhaust for one category of workers: partners of workers with (replacement) labour income (mostly women) may loose their entitlement after an unemployment duration ranging from two to eight years, depending on individual characteristics. We...

We propose a methodology to measure countries’ welfare based on the lifetime utility of individuals and apply it to a large sample of countries. In the period 1960-2000 welfare inequality across countries appears stable as the result of increasing inequality in per capita GDP and decreasing...

This paper proposes a nonparametric test in order to establish the level of accuracy of the foreign trade statistics of 17 Latin American countries when contrasted with the trade statistics of the main partners in 1925. The Wilcoxon Matched-Pairs Ranks test is used to determine whether the...

Nominal data currently lack a correlation coefficient, such as has already defined for real data. A measure is possible using the determinant, with the useful interpretation that the determinant gives the ratio between volumes. With M a m × n contingency table and n ≤ m the suggested measure...

Nominal data currently lack a correlation coefficient, such as has already defined for real data. A measure is possible using the determinant, with the useful interpretation that the determinant gives the ratio between volumes. With M a m × n contingency table and n ≤ m the suggested measure...

We develop a novel approach to build checks of parametric regression models when many regressors are present, based on a class of rich enough semiparametric alternatives, namely single-index models. We propose an omnibus test based on the kernel method that performs against a sequence of...

We estimate the average treatment effect (ATE) parameter and treatment on the treated (TT) for those students effectively choosing a private voucher school. With detailed individual data for both the school and the family of the student we are able to con