This paper focuses on ignored issues regarding the impact of trade reforms in transition economies. These economies are primarily characterized by a low quality of their products, large depreciations of their currencies, and a high degree of government intervention in economic activity. These...

In this paper it is argued that occupational and organizational codes maximizethe correspondence between activities and easily observable characteristics atthe time of their development. Over time the codes become less relevant, leadingto the false impression that the segregation of individuals...

In a series of experiments, we compare a situation where the same group of four subjects plays 25 repetitions of a public good game (partners condition) to a situation where subjects play this game in changing group formations over 25 periods (strangers condition). We observe that, on aggregate...

This provides a short overview of the main themes of ecological economics (EE). It isargued that EE provides a platform that fosters multidisciplinary environmental research bybringing together the core contributing disciplines economics and ecology. In addition, EE isregarded as a pluralistic...

An intensive and still growing body of research focuses on estimating a portfolio’s Value-at-Risk.Depending on both the degree of non-linearity of the instruments comprised in the portfolio and thewillingness to make restrictive assumptions on the underlying statistical distributions, a...

The popular 'airline' model for a seasonal time series assumes that a variable needsdouble differencing, i.e. first and seasonal (or annual) differencing.The resultant time series can usually be described by a low order movingaverage model with estimated roots close to the unit circle. This...