Why is it still relevant to probe the notion of fragility when the concept has been so heavily criticised? Because it continues to be used in policy on conflict, security and development. For example, the United Nations names fragility as a major challenge to achieving the Millennium Development...

We investigate the benefits of risk pooling for the policyholders of stock insurance companies under different solvency standards. Using second‐degree stochastic dominance, we document that the utility of risk‐averse policyholders is increasing in the pool size if the equity capital is...

We provide a comprehensive assessment of volatility connectedness between the currencies of Central European (CE) countries using high-frequency data from 2009 to 2022. We assess asymmetries in connectedness (not investigated for CE currencies before) and document domination of the negative...

Random Walk oder Mean Reversion? Eine statistische Analyse des Kurs/Gewinn-Verhältnisses für den deutschen Aktienmarkt Im Zentrum der vorliegenden Ausarbeitung steht die Frage, ob das Modell eines Random Walk oder eines AR(1)-Prozesses ("Mean Reversion") besser geeignet ist, die Entwicklung...

Die Messung und Bewertung von Kreditrisiken stellt sich aktuell als ein sehr bedeutsames (Stichworte : Basel II, Solvency II, Kreditderivate) Gebiet dar. Allerdings hat sich hierbei keine einheitliche Vorgehensweise herausgebildet, sondern es existieren eine Vielzahl unterschiedlicher...

Im Rahmen der aktuellen Diskussion über die effektive Messung operationeller Risiken auf der Basis interner Modelle hat vor allem der Loss Distribution Approach in der Literatur besondere Beachtung gefunden. Dieser Ansatz hat seine Wurzeln in einem traditionellen Ansatz der...

The West's diminished belief in its own transformative capabilities has led to a preference for stabilisation over statebuilding interventions. This working paper explores how this has led to an increased Western focus on applying distance between the intervening state and the subject of...

This report explores how to engage local actors in international development programming that aims to strengthen service delivery in fragile situations. Apart from a discussion of how policy-makers and practitioners should approach local actors and centrally governed institutions systemically,...

What can we learn from how community policing has evolved in Sierra Leone? This report answers the question by presenting an in-depth analysis of Local Policing Partnership Boards (LPPBs), the main institutional response to community needs by the Sierra Leone Police (SLP). A general...