Wavelet analysis, although used extensively in disciplines such as signal processing, engineering, medical sciences, physics and astronomy, has not yet fully entered the economics discipline. In this discussion paper, wavelet analysis is introduced in an intuitive manner, and the existing...

The current COVID-19 pandemic has attracted significant attention from epidemiologists and economists alike. This differs from the 1918-19 Spanish Influenza pandemic, when academic economists hardly paid attention to its economic features, despite its very high mortality toll. We examine the...

The dynamics of hourly electricity prices in day-ahead markets is an important element of competitive power markets that were only established in the last decade. In electricity markets, the market micro-structure does not allow for continuous trading, since operators require advance notice in...

We discuss the use of calibration techniques in economic models. Calibration contrasts with estimation in relying on deterministic calculation of model parameter values consistent with data, rather than econometric estimation. The reasons why calibrators use these methods, as well as the main...

Coefficient Alpha, which is widely used in empirical research, estimates the reliability of a test consisting of parallel items. In practice it is difficult to compare values of alpha across studies as it depends on the number of items used. In this paper we provide a simple solution, which...

In recent years, there has been greater concern among the investors, portfolio managers and researchers regarding the behaviour of the stock market prices. The investors are interested to earn a higher return on their investments. Therefore, the portfolio managers have to examine the stock...

The aim of this paper is to examine the existence of short–run lead–lag effects between the spot and the futures market in the German stock exchange and particularly the DAX index, over the period 1/2000 - 12/2003, using intradaily data. As long as such relationships are established we...

Based on the sufficient statistics approach developed by Huang and Ottaviano (2024), we show how the state of technology of European industries relative to the rest of the world can be empirically assessed in a way that is simple in terms of computation, parsimonious in terms of data...

Based on the sufficient statistics approach developed by Huang and Ottaviano (2024), we show how the state of technology of European industries relative to the rest of the world can be empirically assessed in a way that is simple in terms of computation, parsimonious in terms of data...