Purpose – Italy has become a migrant receiving country and it has to face with the problem of social inclusion of immigrants. The purpose of this paper is to measure the gap on poverty and deprivation between immigrants and natives since manifest conditions of both of them are an important...

In the context of time series regression, we extend the standard Tobit model to allow for the possibility of conditional heteroskedastic error processes of the GARCH type. We discuss the likelihood function of the Tobit model in the presence of conditionally heteroskedastic errors. Expressing...

We develop generalized indirect estimation procedures that handle equality and inequality constraints on the auxiliary model parameters by extracting information from the relevant multipliers, and compare their asymptotic efficiency to maximum likelihood. We also show that, regardless of the...

Financial returns exhibit conditional heteroscedasticity, asymmetric responses of their volatility to negative and positive returns (leverage effects) and fat tails. The α-stable distribution is a natural candidate for capturing the tail-thickness of the conditional distribution of financial...