compression and identify feasibility and efficiency criteria, highlighting intermediation as the key element for excess levels. We … to excess. While around 50% can in general be removed via bilateral compression, more sophisticated multilateral … compression approaches are substantially more efficient. In particular, we find that even the most conservative multilateral …

The paper studies the degree of homogeneity of innovative behavior in order to determine empirically an industry …

function and hence a risk measure that preserves homogeneity, subadditivity and convexity. …

development of earnings management in both countries, based on homogeneity analyses. These facts identify significant parallels …

We consider testing for long-run homogeneity within a dynamic consumer demand system allowing for non …-run homogeneity within this system utilizing a triangular representation. Both long-run homogeneity in single equations and in the … variables capturing trend and seasonality). Before testing for long-run homogeneity we test whether prices and real total …

bonds) and analyze their multi-scaling properties by estimating the parameters of a Markov-switching multifractal model (MSM … general, the Lognormal MSM models generate "apparent" long memory in good agreement with empirical scaling provided one uses …