This Master thesis investigates the semi-parametric estimation method Maximum Score of Manski (1988) that can be used to estimate binary choice models. This method only asumes that the median of the disturbances of the econometric model takes the value zero. We compare Maximum Score with the...

In this paper the relationship between stock prices and house prices is analysed for six countries over the years 1976-2001. We find that both asset prices show a positive long-term relationship, which can partly be explained by common macro-economic factors such as credit, consumption and...

The 1994 Northridge earthquake sent ripples to insurance conpanies everywhere. This was one in a series of natural disasters such as Hurricane Andrew which together with the problems in Lloyd's of London have insurance companies running for cover. This paper presents a calibration of the U.S....