The Data Envelopment Analysis (DEA) efficiency score obtained for an individual firm is a point estimate without any confidence interval around it. In recent years, researchers have resorted to bootstrapping in order to generate empirical distributions of efficiency scores. This procedure...

We consider whether openness is related to the aggregate technical efficiency in the OECD countries. We obtain efficiency measures using Data Envelopment Analysis and we find that our measure of openness is positively related to the technical efficiency scores.

We consider whether openness is related to the aggregate technical efficiency in the OECD countries. We obtain efficiency measures using Data Envelopment Analysis and we find that our measure of openness is positively related to the technical efficiency scores

In this paper we examine for both economic convergence and openness convergence across the global economy and within specific regions. We find that convergence in openness is much more profound than income convergence. Moreover, convergence within regions takes place faster than convergence...

In this paper, we deal with theoretical propositions and empirical evidence that are needed to explain the paradox of rapid GDP growth in the face of the dismal competitiveness of the Greek economy during 1995-2008. We show how Greece's economy structural weaknesses have hit the domestic economy...

The hesitation of many conventional-wisdom economists to rely more aggressively on fiscal policy measures in order to keep their public finances more or less balanced may have contributed to the persisting current slowdown. We discuss the potential of active fiscal policies in stimulating growth...

The theory and practice of risk measurement provides a point of intersection between risk management, economic theories of choice under risk, financial economics and actuarial pricing theory. This paper provides a review of these interrelationships, from the perspective of an insurance company...

We discuss classes of risk measures in terms both of their axiomatic definitions and of the economic theories of choice that they can be derived from. More specifically, expected utility theory gives rise to the exponential premium principle, proposed by Gerber (1974), Dhaene et al. (2003),...