Prudential supervision is dealt with here as a matter of both regulation and control on a global or a regional level of the international activities of the various financial « industries ». While an analysis of the underlying rationale of prudential supervision is not within the ambit of the...

The reasons why organizations sponsor artistic and cultural events have attracted much scholarly attention. However, the subject of why organizations create and develop their own collections has been under-investigated. This is especially striking in the financial sector, where several companies...

We provide a nonparametric 'revealed preference' characterization of rational household behavior in terms of the collective consumption model, while accounting for general individual preferences that can be non-convex. Our main result is the Collective Afriat Theorem, which parallels the...

We model the conditional distribution of high-frequency financial returns by means of a two-component quantile regression model. Using three years of 30 minute returns, we show that the conditional distribution depends on past returns and on the time of the day. Two practical applications...

The aim of this paper is to assess the possible contribution of an input-output model towards two of the basic principles of the sustainability strategy of integrated coastal zone management (ICZM) and Post-Normal Science. According to these principles, decision-support tools should offer a...

In this article, I analyze the determinants of research production by higher education institutions in the US. I use four measures to build an index of top-level academic research production. I show that it is important to account for the presence of outliers in both dimensions (X and Y axes)...

Discrimination against girls is well-documented, especially in Asia. We show that women try to level the playing field for their daughters by taking on debt. But wealth asymmetry between mothers and fathers perpetuates gender inequality across generations.

Democracies rarely engage in conflicts with one another, though they are not averse to fighting autocracies. We exploit the existence in many countries of executive term limits to show that electoral accountability is the key reason behind this "democratic peace" phenomenon. We construct a new...

It is often alleged that PTAs involving the EC and the US include a significant number of obligations in areas not currently covered by the WTO Agreement, such as investment protection, competition policy, labour standards and environmental protection. The primary purpose of this study is to...

To inform policy-making, we measured the risk, causes and consequences of catastrophic expenditures for tuberculosis and investigated potential inequities.