The UK Health and Safety Executive (HSE) produces aggregate estimates of the costs to Britain of workplace accidents and work-related ill health which are used for a range of public policy purposes. HSE also produces estimates of the unit cost to society of individual workplace injury accidents...

From the outset, the Design Leadership Board has worked to a broad understanding of design. In this report, design is perceived as an activity of people-centred innovation by which desirable and usable products and services are defined and delivered. Design has a role to play in business...

This paper reconsiders the economic explanation of EU regional policy from an evolution- ary perspective. It contrasts the neoclassical equilibrium notions of market and government failure with the prevalent evolutionary neo-Schumpeterian and Austrian-Hayekian perceptions. Based on this...

This paper analyses the effects of EU regional policy transfer payments on net migration flows among the EU-28 countries. The hypothesis is tested that EU transfer payments do hamper internal migration across the EU. On the one hand, this is done by reestimating the results found by Egger,...

Die Alterung der westlichen Industrienationen führt zu einer erheblichen Belastung der Sozialversicherungssysteme. Der Autor zeigt dies am Beispiel der bundesdeutschen Rentenversicherung auf. Die ökonomische Analyse ergibt, daß die deutsche Gesetzliche Rentenversicherung (GRV) deutliche...

As stated in the preamble of the founding Treaty of the European Economic Community (EEC) of 1957, the essential goal of European integration, is to improve the living and employment situation (usually measured in terms of per-capita GDP and unemployment rate) of EU citizens. From an economic...

Consider a stochastic frontier model with one-sided inefficiency u, and suppose that the scale of u depends on some variables (firm characteristics) z. A one-step model specifies both the stochastic frontier and the way in which u depends on z, and can be estimated in a single step, for example...

A major application of rescaled adjusted range analysis (RS analysis) is the study of price fluctuations in financial markets. There, the value of the Hurst constant, H, in a time series may be interpreted as an indicator of the irregularity of the price of a commodity, currency or similar...

Based on daily VDAX data this paper analyzes the factors governing the movements of implied volatilities of options on the German stock index DAX. Using Principal Components Analysis over the sample period from 1996 to 1997, we derive common factors representing shift and curvature of the term...

The analysis of volatility in financial markets has become a first rank issue in modern financial theory and practice: Whether in risk management, portfolio hedging, or option pricing, we need to have a precise notion of the market's expectation of volatility. Much research has been done on the...