In this article, estimation of moments up to the fourth order of random effects and errors is first investigated for dynamic panel data models. Using the QR decomposition of a matrix, the moments of random individual effects and errors are estimated without affecting each other so that the...

Abstract Linear fractional Galton–Watson branching processes in i.i.d. random environment are, on the quenched level, intimately connected to random difference equations by the evolution of the random parameters of their linear fractional marginals. On the other hand, any random difference...

Reverse mortgage is a financial instrument that allows elderly homeowners to enjoy an additional income until the end of their lives, when the property is taken by the financial institution that provided the benefit. Based on data from the continuous PNAD of 2019 and considering the property...

Reverse mortgage is a financial instrument that allows elderly homeowners to enjoy an additional income until the end of their lives, when the property is taken by the financial institution that provided the benefit. Based on data from the continuous PNAD of 2019 and considering the property...

Many US states now allow people to create private trusts that continue indefinitely. Is it unjust to permit settlors to benefit their descendants without temporal limitation? Although perpetual trusts might seem self-indulgent impositions on posterity, no leading theory of distributive justice...

The cultural heritage of a country includes the all traces of human activity discovered in the environment. These are irreplaceable sources of information on the life and occupations of people of different ages and artistic, technical skills development over time. Because monuments, sites and...

The dynamic properties of micro based stochastic macro models are often analyzed through a linearization around the associated deterministic steady state. Recent literature has investigated the error made by such a deterministic approximation. Complementary to this literature we investigate how...

In this paper we consider the stochastic sequence {Pt}E N defined recursively by the linear relation Pt+1 = At Pt + Bt in a random environment which is described by the non-stationary process V = {(At, Bt) t E N.. We formulate sufficient conditions on v which ensure that the finite-dimensional...