It is well-known that Gaussian hedging strategies are robust in the sense that they always lead to a cost process of bounded variation and that a superhedge is possible if upper bounds on the volatility of the relevant processes are available, cf. El Karoui, Jeanblanc-Picque and Shreve (1998)...

This paper illustrates the usefulness of resampling based methods in the context of multiple (simultaneous) tests, with emphasis on econometric applications. Economic theory often suggests joint (or simultaneous) hypotheses on econometric models; consequently, the problem of evaluating joint...

This paper analyses the pricing behaviour of Luxembourg firms based on survey evidence. Luxembourg firms typically have low market share, many competitors and longstanding customer relationships. Price discrimination is frequently applied. A majority of firms use price review rules that include...

Estimation of spatial housing price indices requires a housing market segmentation into local sub-markets. In this paper, we use geographically weighted regression model (GWR) to take account for spatial heterogeneity of housing attribute marginal prices. Estimated marginal prices are then used...

Estimation of spatial housing price indices requires a housing market segmentation into local sub-markets. In this paper, we use geographically weighted regression model (GWR) to take account for spatial heterogeneity of housing attribute marginal prices. Estimated marginal prices are then used...

The socio-economic crisis of the mid-1980s experienced by Cameroon has had multiple consequences including unemployment and deterioration of study and supervision conditions in universities. The current situation of universities in Cameroon is characterized by low success rates. The purpose of...

This paper measures Senegalese Government spending efficiency using a stochastic frontier model. Evidence is provided from a panel data analysis framework to compute technical inefficiency estimates for public spending in agriculture, roads, energy, education and health. Results show that the...

Cet article estime l’effet des restructurations industrielles sur le niveau de diplôme acquis par les jeunes générations sur la période 1956-1993 en France. Nous mobilisons les données issues de l’enquête Formation et Qualification Professionnelle 2003 et de plusieurs vagues...

From the policy mix theory to the related empirical works, quantifying the degree of coordination of monetary and fiscal policies seems to be missing. In this paper, we propose an index (ICPM) which measures the coherent nature of the policy mix rather than it restrictive or expansive character....