Discrete random probability measures and the exchangeable random partitions they induce are key tools for addressing a variety of estimation and prediction problems in Bayesian inference. Indeed, many popular nonparametric priors, such as the Dirichlet and the Pitman–Yor process priors, select...

Species sampling problems have a long history in ecological and biological studies and a number of issues, including the evaluation of species richness, the design of sampling experiments, the estimation of rare species variety, are to be addressed. Such inferential problems have recently...

Most of the Bayesian nonparametric models for non–exchangeable data that are used in applications are based on some extension to the multivariate setting of the Dirichlet process, the best known being MacEachern’s dependent Dirichlet process. A comparison of two recently introduced classes...

Mixture models for hazard rate functions are widely used tools for addressing the statistical analysis of survival data subject to a censoring mechanism. The present paper introduces a new class of vectors of random hazard rate functions that are expressed as kernel mixtures of dependent...

We analyze rehabilitation investments in a regulated water industry with perfectly inelastic demand. We compare alternative organizational solutions for local provision (municipalization, corporatization and privatization), though subject to a common regulatory mechanism. We can then assess the...

We give an overview on the main properties of D-stable matrices, i.e. of those square matrices $A$ for which the product DA is stable for any choice of the diagonal matrix D, with all positive diagonal elements. These matrices, introduced in economic analysis by Arrow and Mc Manus (1958), have...

The latest financial crisis has stressed the need of understanding the world financial system as a network of interconnected institutions, where financial linkages play a fundamental role in the spread of systemic risks. In this paper we propose to enrich the topological perspective of network...

We use an integrated approach to analyze the reasons behind the discount on the balance-sheet fair value of illiquid financial instruments held by European banks and classified into the Level 3 Fair Value hierarchy under IFRS 7. We believe that the potential sources of misalignment are 1) the...

This paper considers estimation in a stationary heterogeneous panel model where common unknown factors are present. A two-stage estimator is proposed. This estimator is based on the CCE estimator (Pesaran, 2006) in the first stage and on a similar approach to the Interactive Effect estimator...

What are the effects of a higher inflation target on the determinacy properties under alternative monetary/fiscal policy mixes in New Keynesian models? Would it be more difficult for the central bank to stabilize inflation expectations if the inflation target is raised? What role for central...