This study examines emerging market (EM) local bonds from a portfolio risk perspective and suggests methodologies for risk evaluation, on which the literature is limited. Despite the growth of EM bond funds in recent years, comprehensive studies regarding this industry have been scarce. In light...

This paper examines the impact of inflation on financial integration (FI) in the euro area using wavelet coherence analysis. We measure FI using the ECB’s integration indicators. Our results demonstrate that the relationship between inflation and FI varies over time, highlighting its dynamic...

This study examines emerging market (EM) local bonds from a portfolio risk perspective and suggests methodologies for risk evaluation, on which the literature is limited. Despite the growth of EM bond funds in recent years, comprehensive studies regarding this industry have been scarce. In light...

Various studies provide evidence that buying of votes is a widespread instrument of parties in developing countries to influence the outcome of elections. In this paper we examine whether democratic societies which hold votes on educational enhancing redistribution proposals can escape poverty...

This paper explores the economies of scale and scope in the electricity, gas and water utilities. These issues have a crucial importance in the actual policy debates about unbundling the integrated utilities into separate entities, a policy which has often been supported by the ongoing reforms...

This paper evaluates the impacts of electrosmog, noise and air pollution on the dwellings’ rents in the cities of Zurich and Lugano. The hedonic price regressions are estimated using a large micro-level data set and taking into account the spatial correlation in unobserved factors. The results...

The present paper shows how cointegration analysis within a multivariate framework may be applied for the estimation of energy demand elasticities in order to account for the non-stationarity of the time series used. The dynamic modelling approach followed is one based on general-to-specific...

In this paper a set of ten different single-equation models of household energy demand is being analyzed. These simple models are being derived by the imposition of linear parameter restrictions on a fairly general autoregressive distributed lag (ADL) model in log-linear form. Household energy...

In this paper, we identify key drivers and barriers for the adoption of building energy retrofits in Germany, which is promoted by public policy as an important measure to address the future challenges of climate change and energy security. We analyze data from a 2009 survey of more than 400...