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This thesis contains several lines of research conducted during my four years at the European University Institute. It deals with two distinct topics in the area of recursive economies, developed in three chapters. The first chapter considers a general class of recursive models in which...

International trade and trade liberalization is the logical nexus through this thesis. Not only trade volumes have largely expanded after World War II, but - perhaps less known - also the number of developing and underdeveloped countries opening their markets to international trade has increased...

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This thesis is motivated by the observation that the time series properties of financial security prices can vary fundamentally with their sampling frequency. Econometric models developed for low frequency data may thus be unsuitable for high frequency data and vice versa. For instance, while...