Let us consider a financially constrained leveraged financial firm having some divisions which have invested into some risky assets. Using coherent measures of risk the sum of the capital requirements of the divisions is larger than the capital requirement of the firm itself, there is some...

Adolescent romantic relationships are sources of social influence concerning educational achievement and delinquent behavior. Integrated schooling is known to induce inter-ethnic friendship relations, however, it also creates the opportunity of inter-ethnic dating. Based on contact theory,...

Optimal power flow (OPF) problems are focussing on the question how a power transmission network can be operated in the most economic way. The general aim in such scenarios is to optimize generator scheduling in order to meet consumption re-quirements, transmission constraints and to minimize...

This paper studies the relationship between firm markups and importing intermediate inputs and exporting using detailed firm-level data from Hungary in 1995-2003. We estimate production functions structurally to obtain firm-year-level productivity and markup estimates. We find that importing...

There is considerable variation in mortality rates of the working age populations across the "old" and the "new" EU member states, and former Soviet Union countries. The explanation for these differences is investigated by scrutinizing three different groups of factors: 1. Socioeconomic factors;...

I decompose the factors contributing to the riskiness of foreign currency borrowers. I compare counterfactual default probabilities of local and foreign currency borrowers estimated on disaggregated data. My results suggest that the currency mismatch with the depreciation of the local currency...

This paper shows that electoral incentives affect the occurrence of trade disputes. Focusing on WTO disputes filed by the United States during the 1995-2012 period, we show that U.S. presidents are more likely to initiate a dispute in the year preceding their re-election date. Moreover, disputes...

There is an increasing political interest in Hungary to relocalize food. A Policy Intervention for Food Relocalization Index is introduced to quantitatively reveal how rural development programme measures should be allocated efficiently to promote local food production. Results show that present...

We study the monotonicity properties of solutions in the classic problem of fair cake-cutting - dividing a single heterogeneous resource among agents with subjective utilities. Resource and population-monotonicity relate to scenarios where the cake, or the number of participants who divide the...

There is an asymmetry regarding what previous decisions depositors may observe when choosing whether to withdraw or keep the money deposited: it is more likely that withdrawals are observed. We study how decision-making changes if depositors are able to make their decision to keep their funds in...