We propose a new, computationally-efficient way to approximate the "grouped fixed-effects" (GFE) estimator of Bonhomme and Manresa (2015), which estimates grouped patterns of unobserved heterogeneity. To do so, we generalize the fuzzy C-means objective to regression settings. As the...

This chapter introduces the digital finance cluster in Bulgaria and analyses how it performs against the Four Fundamentals introduced in Breznitz (2021). The Fintech sector in Bulgaria traces its origins in the Communist Era, with the first applications of digital financial technologies aiming...

Advanced tree-based estimation methods, such as random forest, are ensembles of regression trees that are built using random subsets of explanatory variables. However, because of the random selection process, relevant variables may not be considered in some regression trees, thereby reducing...

We model the decision to exhaust depth, which either flips the best quote to the opposite side or widens the spread. Such events often revert to the previous best quote. The model implies that quote flipping results in trade clusters at the competitive equilibrium. Using the S&P E-mini futures...

The COP27 (United Nations Climate Change Conference) in November 2022 once again highlighted the fact that countries are starting from different positions when it comes to emissions and climate policy. This Weekly Report classifies countries into representative profiles based on their past,...

Ports and container terminals today are interchanges for maritime and land transport as well as important facilities that serve as communication channels for nations, regional economies, and forelands. They also act as suppliers providing cargo handling and international logistics services at...

In many sampling surveys, the use of auxiliary information at either the design or estimation stage, or at both these stages is usual practice. Auxiliary information is commonly used to obtain improved designs and to achieve a high level of precision in the estimation of population density....