In this paper, a model and overview are developed on stimulating regional growth through innovative entrepreneurship. Based on statistical data and a qualitative analysis of five specific regions, it is shown how academic science, in interaction with a local professional service texture, can...

In the present paper we consider several measures Ior the risk that is present in all insurance environment. We look for desirable properties for two types of risk measures, the ones reflecting both negative and positive results, and the measures for insolvency risks dealing with aspects of...

This paper focuses on ihe rationale behind fiscal solidarity. It is argued that, while at the national level the main aim of regional policies is to downsize the cost of labor market policies, the motivation behind EU transfers is less straightforward. Here, regional assistance should rather be...

This paper illustrates an analytic method that can be used to determine the total capital requirements necessary to properly provide for the future obligations of a portfolio of annuity liabilities and to protect the enterprise from the related risks it faces. This example is based on the work...

Sluggish price adjustments with respect to exchange rate shocks take essentially two forms. Firstly, prices do not adjust completely to neutralize the effects of nominal exchange rate shocks. Secondiy, price adjustments after exchange rate shocks only take place in discrete time intervals, in...