A community disaster model has been developed at the University of Pennsylvania as part of an NSF-RANN grant ENV-12370, "Mitigation and Recovery Policies for Natural Hazards." The objective of the project is to describe the impact of a natural disaster on a community so as to provide guidance to...

This paper analyzes the risks and returns of different types of real estate-related firms trade on the New York and American stock exchanges (NYSE and AMEX). We investigate the relation of real estate stock portfolio returns with returns on a standard appraisal-based index, and find that lagged...

This paper calculates the stochastic properties of consumption when income follows a fractional stochastic process, and shows how this may explain both the excess sensitivity and the excess smoothness paradoxes. It then uses a recently developed improvement of the Rescaled Range Statistic to...