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Articles 1 - 5 of 5
Full-Text Articles in Physical Sciences and Mathematics
Unemployment Scarring In High Unemployment Regions, Claudio Lupi, Patrizia Ordine
Unemployment Scarring In High Unemployment Regions, Claudio Lupi, Patrizia Ordine
Claudio Lupi
This paper investigates the effect of individual unemployment experiences on re-employment wages. The empirical analysis is carried out on a panel of Italian individuals. The main result is that while in the northern regions the effect is similar to the one estimated for the UK, in the southern area of the country the impact is not significant. We link this result to the particular socio-economic environment in which the unemployment spells are experienced. We argue that this might be due to the fact that in a high unemployment environment individual unemployment experiences are perceived as "normal" and do not necessarily …
Rockets And Feathers Revisited: An International Comparison On European Gasoline Markets, Marzio Galeotti, Alessandro Lanza, Matteo Manera
Rockets And Feathers Revisited: An International Comparison On European Gasoline Markets, Marzio Galeotti, Alessandro Lanza, Matteo Manera
Matteo Manera
This paper re-examines the issue of asymmetries in the transmission of shocks to crude oil prices onto the retail price of gasoline. Relative to the previous literature, the distinguishing features of the present paper are: i) use of updated and comparable data to carry out an international comparison of gasoline markets; ii) two-stage modeling of the transmission of oil price shocks to gasoline prices (first refinery stage and second distribution stage), in order to assess possible asymmetries at either one or both stages; iii) use of asymmetric error correction models to distinguish between asymmetries that arise from short-run deviations in …
Characterization Of Different Reactive Lysines In Bovine Heart Mitochondrial Porin. Al Jamal Ja, Philadelphia University
Characterization Of Different Reactive Lysines In Bovine Heart Mitochondrial Porin. Al Jamal Ja, Philadelphia University
Philadelphia University, Jordan
No abstract provided.
Optimal Policies For Investment With Time-Varying Return Distributions, Douglas Steigerwald, Doncho Donchev, Svetlozar Rachev
Optimal Policies For Investment With Time-Varying Return Distributions, Douglas Steigerwald, Doncho Donchev, Svetlozar Rachev
Douglas G. Steigerwald
We develop a model in which investors must learn the distribution of asset returns over time. The process of learning is made more difficult by the fact that the distributions are not constant through time. We consider risk-neutral investors who have quadratic utility and are selecting between two risky assets. We determine the time at which it is optimal to update the distribution estimate and, hence, alter portfolio weights. Our results deliver an optimal policy for asset allocation, that is, the sequence of time intervals at which it is optimal to switch between assets, based on stochastic optimal control theory. …
Forecasting Volatility In European Stock Markets With Non-Linear Garch Models, Giancarlo Forte, Matteo Manera
Forecasting Volatility In European Stock Markets With Non-Linear Garch Models, Giancarlo Forte, Matteo Manera
Matteo Manera
This paper investigates the forecasting performance of three popular variants of the nonlinear GARCH models, namely VS-GARCH, GJR-GARCH and Q-GARCH, with the symmetric GARCH(1,1) model as a benchmark. The application involves ten European stock price indexes. Forecasts produced by each non-linear GARCH model and each index are evaluated using a common set of classical criteria, as well as forecast combination techniques with constant and non-constant weights. With respect to the standard GARCH specification, the non-linear models generally lead to better forecasts in terms of both smaller forecast errors and lower biases. In-sample forecast combination regressions are better than those from …