We focus on two particular aspects of model risk: the inability of a chosen model to fit observed market prices at a given point in time (calibration error) and the model risk due to the recalibration of model parameters (in contradiction to the model assumptions). In this context, we use...

Given the global dominance of American movies, they play a significant role in presenting U.S. ideology and culture to the world, thus raising concern of undermining domestic culture. This paper investigates whether trade shapes culture by studying the impact of imported American movies on...

For the last several decades, the US Census Bureau has been applying AK composite estimation method for estimating monthly levels and month-to-month changes in unemployment using data from the Current Population Survey (CPS), which uses a rotating panel design. For each rotation group,...

Small area estimation methods have become a widely used tool to provide accurate estimates for regional indicators such as poverty measures. Recent research has provided evidence that spatial modelling still can improve the precision of regional and local estimates. In this paper, we provide an...

The National Major Science and Technology Projects in China are characterized by government leadership, interdisciplinary collaboration, and international cooperation. However, challenges such as insufficient innovation capacity and inadequate commercialization of scientific achievements are...