The main purpose of this paper is to compare empirically four Value-at-Risk simulation methods, namely, the Variance-Covariance, the Historical Simulation, the Bootstrapping and the Monte Carlo. We tried to estimate the VaR associated to three currencies and four currency portfolios in the...

The main purpose of this paper is to compare empirically four Value-at-Risk simulation methods, namely, the Variance- Covariance, the Historical Simulation, the Bootstrapping and the Monte Carlo. We tried to estimate the VaR associated to three currencies and four currency portfolios in the...

This paper has two central aims. The first one is to deal empirically with the effects of financial crises on emerging stock markets volatility. The second objective consists in testing if the level of stock market development affects this relationship. For this purpose, we estimate a static...

This paper has two main goals. The first is to estimate the size of the informal economy between 1980 and 2009 in Tunisia. The second objective is to check for the causal relationship from the formal economy to the informal economy. When calculating the size of the informal economy, we were...