This paper develops a multi-sectorial search and matching model with endogenous occupational choice in a context of structural change. Our objective is to shed light on the way labor market institutions affect aggregate ...

Action 5 of the EU 2020 Biodiversity Strategy explicitly mentions that member states will map and assess the state of ecosystems and their services in their national territory by 2014 with the assistance of the Commission. ...

Motivated by the conjectured existence of trends in the intensity of tropical storms, this paper proposes new inferential methodology to detect a trend in the annual pattern of environmental data. The new methodology can ...

Geoengineering aims at a large-scale manipulation of the planetary environment in order to counteract climate change. Different ethical worries concerning geoengineering have been formulated. Amongst these a core wrong ...

Statistical inference for discrete time observations of an affine stochastic delay differential equation is considered. The main focus is on maximum pseudo-likelihood estimators, which are easy to calculate in practice. ...

A growing literature uses changes in residual volatility for identifying structural shocks in vector autoregressive (VAR) analysis. A number of different models for heteroskedasticity or conditional heteroskedasticity ...

We analyze the impact of CDS trading on bank syndication activity. Theoretically, the effect of CDS trading is ambiguous: on the one hand, CDS can improve risksharing and hence be a more flexible risk management tool ...

We introduce a methodology for measuring default risk connectedness that is based on an out-of-sample variance decomposition of model forecast errors. The out-of-sample nature of the procedure leads to "realized" measures ...

This paper proposes a test for missing at random (MAR). TheMARassumption is shown to be testable given instrumental variables which are independent of response given potential outcomes. A nonparametric testing procedure ...

Estimating natural rate of unemployment (NAIRU) is important for understanding the joint dynamics of unemployment, inflation, and inflation expectation. However, existing literature falls short in endogenizing inflation ...