This contribution proposes a simulation approach for the indirect estimation of age-specific fertility rates (ASFRs) and the total fertility rate (TFR) for Germany via time series modeling of the principal components of the ASFRs. The model accounts for cross-correlation and autocorrelation...

We develop an estimator for latent factors in a large-dimensional panel of financial data that can explain expected excess returns. Statistical factor analysis based on Principal Component Analysis (PCA) has problems identifying factors with a small variance that are important for asset pricing....

In the present paper we put forward a clear assessment of the Romanian rural tourism, from a regional perspective. Based on data for 2016, using principal component analysis for mixed data and cluster analysis, we outline an accurate image of the Romanian rural tourism at NUTS level 3, focusing...

Governments are challenged to balance multiple policy goals and make difficult choices when selecting infrastructure projects for public investment, particularly since available funds are often insufficient to implement the full suite of proposals. This paper presents the application of the...