Maximum-minimum bidirectional options are a kind of exotic path dependent options. In the constant elasticity of variance (CEV) model, a combining trinomial tree was structured to approximate the non-constant volatility that is a function of the underlying asset. On this basis, a simple and...

This paper analyzes the cyclical behaviour of male real wages in Italy using the European Community Household Panel 1994-2001. We distinguish between job stayers (remaining in the same job), and within- and between-company job movers. Stayers are the large majority. We find stayers in Northern...

This paper compares the cyclical behaviour of male real wages in Germany and the UK using the German Socio-Economic Panel 1984-2002 and the British Household Panel Survey 1991-2004. We distinguish between job stayers (remaining in the same job), and within- and between-company job movers....

Using the recent China Family Panel Studies, we identify the subjects studied by college (2–3 years) graduates and university (4–5 years) graduates. For the university graduates, we can further distinguish universities by the tier of selectivity (i.e., Key and Ordinary Universities). We take...

The literature on international migration has repeatedly emphasized that the extent and structure of migration has an important impact on the competitiveness of regions and countries. This report provides an overview of the extent and the potential effects of high-skill migration to the EU27. It...

This paper analyses HRM practices of family-run workplaces using the 2004 WERS. Family-ownership and management within workplaces in the corporate sector is our focus. This family-run group represents nationally about 26% of workplaces and 14% of employment. We find that employees in this group...

Using the recent China Family Panel Studies, we are able to identify the subjects studied of both college (2-3 years) graduates and university (4-5 years) graduates. For the latter group, we can further distinguish universities by the tier of selectivity (i.e. Key and Ordinary Universities). We...

This paper studies a model with both a parametric global trend and a nonparametric local trend. This model may be of interest in a number of applications in economics, finance, ecology, and geology. The model nests the parametric global trend model considered in Phillips (2007) and Robinson...

The properties of the two stage least squares (TSLS) and limited information maximum likelihood (LIML) estimators in panel data models where the observables are affected by common shocks, modelled through unobservable factors, are studied for the case where the time series dimension is fixed. We...

This paper studies the effects of common shocks on the OLS estimators of the slopes' parameters in linear panel data models. The shocks are assumed to affect both the errors and some of the explanatory variables. In contrast to existing approaches, which rely on using results on martingale...