The Danish fire loss dataset records commercial fire losses under three insurance coverages: building, contents, and profits. Existing research has primarily focused on the heavy-tail behaviour of the losses but ignored the relationship among different insurance coverages. In this paper, we aim...

In this paper, we develop an autoregressive process of order one, assuming that the innovation random variable has a Lindley distribution. The key properties of the process are investigated. Five distinct estimation techniques are used to estimate the parameters and simulation studies are...

We offer a contribution to the analysis of optimal monetary policy. The standard approach to determine what policy rule a central bank should follow is to take a single structural model and minimize the unconditional volatilities of inflation and real activity. In this paper, we propose monetary...