The paper proposes an approach to evaluate hypotheses about transition dynamics when only the distributions at two points in time are observed. Using the principle of statistical mechanics, we show how to adjust in the "most probable" way a hypothesis so that it becomes compatible with the...

We consider a new model of a local public goods economy with differentiated crowding in which we make a distinction between the tastes and crowding characteristics of agents. It is possible in this model to have taste-homogeneous jurisdictions that take advantage of the full array of positive...

We present some new asymptotic results for functionals of higher order differences of Brownian semi-stationary processes. In an earlier work [4] we have derived a similar asymptotic theory for first order differences. However, the central limit theorems were valid only for certain values of the...

This study discusses how customers perceive services given by the banks. Characteristics added to regular services by the banks have been examined whether the customers see them as value or not. Following, these characteristics have been examined to construct a dimensional approach. Among...

The tourism is considered by analysts as one of the most versatile economic sectors and “the most profitable industry of the end of the 20th century”. Romania is considered the most valuable and natural resources gifted country by the countries from central and east Europe, which gives it a...

El presente trabajo se ocupa de describir los principales rasgos que definen el Programa Nacional de Reformas (PNR), de octubre de 2005, que el Gobierno español elabora como respuesta a la relanzada Estrategia de Lisboa, surgida en el Consejo Europeo de Primavera de ese mismo año. El PNR se...

This study creates the threshold vector autoregression model and employs quarterly data of Taiwan from 1981 to 2006 to examine the relationship between foreign direct investment (FDI) and domestic gross direct investment (GDI). Our framework provides a consideration of business cycle asymmetry...

Despite the increasing coverage and prevalence of equality legislation and the general alignment of key determining characteristics such as educational attainment, gender differentials continue to persist in labour market outcomes, including earnings. Recently, evidence has been found supporting...

Successful transition and adjustment to school life is critical for a child's future success. To ease this transition a child needs to arrive equipped with the necessary skills for school. The extent of a child’s behavioural problems is one indicator of his or her level of adjustment and...

This paper addresses the question of the selection of multivariate GARCH models in terms of variance matrix forecasting accuracy with a particular focus on relatively large scale problems. We consider 10 assets from NYSE and NASDAQ and compare 125 model based one-step-ahead conditional variance...