BEA’s national economic statistics provide a comprehensive view of U.S. production, consumption, investment, exports and imports, and income and saving. These statistics are best known by summary measures such as gross domestic product (GDP), corporate profits, personal income and spending,...

The Ad Age DataCenter provides exclusive advertising and marketing industry data compiled by the Ad Age Research Department. This constantly updated collection includes more than 600 separate charts arranged in four major categories: Marketers/ Advertisers, Media, Agencies, and Salary Surveys.

Reform of the welfare state is at the centre of political debate. In a new book, CASEmembers analyse changes in social policies over the last twenty-five years, trends inspending, outcomes of policies, and impacts on institutions and families.The stereotypes of both left and right are wrong....

The trends and consequences of terrorist activities are often captured bycounting the number of incidents and casualties. More recently, the effects of terroristacts on various aspects of the economy have been analyzed. These costs aresurveyed and put in perspective. As economic consequences are...

In this paper we question the consensus of using a binary crisisdefinition for empirical crisis models. We believe that the most severeshortcomings of the crisis models today are in the crisis definition rather than the explanatory variables ...

The Matching Distribution converges to a Poisson Distribution with ë = 1 as the parameter n converges to infinity. A generalization of the Matching Distribution is proposed. The properties of this Generalized Matching Distribution (GMD) turn out to be analogical to the case with ë = 1.

We examine the impact of performance groups on the estimation of therelative importance of ¯rm, industry and other e®ects on corporate performance.Performance groups comprise ¯rms from the same industry with asimilar performance over a longer period of time. We present a statisticalmethod...

In this paper we present a new approach to incorporate default dependency in intensity-based default risk models. The model uses an arbitrary default dependency structure which is specified by the Copula of the times of default, this is combined with individual intensity-based models for the...

In this paper a new credit risk model for credit derivatives is presented. The model is based upon the ‘Libor market’ modelling framework for default-free interest rates. We model effective default-free forward rates and effective forward credit spreads as lognormal diffusion processes, and...

This paper gives a simple introduction to portfolio credit risk models of the factor model type. In factor models, the dependence between the individual defaults is driven by a small number of systematic factors. When conditioning on the realisation of these factors the defaults become...