References of "First made available on ORBilu"      in Complete repository Arts & humanities   Archaeology   Art & art history   Classical & oriental studies   History   Languages & linguistics   Literature   Performing arts   Philosophy & ethics   Religion & theology   Multidisciplinary, general & others Business & economic sciences   Accounting & auditing   Production, distribution & supply chain management   Finance   General management & organizational theory   Human resources management   Management information systems   Marketing   Strategy & innovation   Quantitative methods in economics & management   General economics & history of economic thought   International economics   Macroeconomics & monetary economics   Microeconomics   Economic systems & public economics   Social economics   Special economic topics (health, labor, transportation…)   Multidisciplinary, general & others Engineering, computing & technology   Aerospace & aeronautics engineering   Architecture   Chemical engineering   Civil engineering   Computer science   Electrical & electronics engineering   Energy   Geological, petroleum & mining engineering   Materials science & engineering   Mechanical engineering   Multidisciplinary, general & others Human health sciences   Alternative medicine   Anesthesia & intensive care   Cardiovascular & respiratory systems   Dentistry & oral medicine   Dermatology   Endocrinology, metabolism & nutrition   Forensic medicine   Gastroenterology & hepatology   General & internal medicine   Geriatrics   Hematology   Immunology & infectious disease   Laboratory medicine & medical technology   Neurology   Oncology   Ophthalmology   Orthopedics, rehabilitation & sports medicine   Otolaryngology   Pediatrics   Pharmacy, pharmacology & toxicology   Psychiatry   Public health, health care sciences & services   Radiology, nuclear medicine & imaging   Reproductive medicine (gynecology, andrology, obstetrics)   Rheumatology   Surgery   Urology & nephrology   Multidisciplinary, general & others Law, criminology & political science   Civil law   Criminal law & procedure   Criminology   Economic & commercial law   European & international law   Judicial law   Metalaw, Roman law, history of law & comparative law   Political science, public administration & international relations   Public law   Social law   Tax law   Multidisciplinary, general & others Life sciences   Agriculture & agronomy   Anatomy (cytology, histology, embryology...) & physiology   Animal production & animal husbandry   Aquatic sciences & oceanology   Biochemistry, biophysics & molecular biology   Biotechnology   Entomology & pest control   Environmental sciences & ecology   Food science   Genetics & genetic processes   Microbiology   Phytobiology (plant sciences, forestry, mycology...)   Veterinary medicine & animal health   Zoology   Multidisciplinary, general & others Physical, chemical, mathematical & earth Sciences   Chemistry   Earth sciences & physical geography   Mathematics   Physics   Space science, astronomy & astrophysics   Multidisciplinary, general & others Social & behavioral sciences, psychology   Animal psychology, ethology & psychobiology   Anthropology   Communication & mass media   Education & instruction   Human geography & demography   Library & information sciences   Neurosciences & behavior   Regional & inter-regional studies   Social work & social policy   Sociology & social sciences   Social, industrial & organizational psychology   Theoretical & cognitive psychology   Treatment & clinical psychology   Multidisciplinary, general & others     Showing results 1 to 100 of 350 1 2 3 4     Yolanda von Vianden und das Yolanda-EposSieburg, Heinz E-print/Working paper (in press)Detailed reference viewed: 145 (10 UL) The edge-based strain smoothing method for compressible and nearly incompressible non-linear elasticity for solid mechanicsLee, Chang-Kye; Mihai, L. Angela; Kerfriden, Pierre et alE-print/Working paper (in press)Detailed reference viewed: 542 (39 UL) Der Arbeitsmarkt der Sozialen Arbeit 2020 = Le marché de l'emploi du secteur social en 2020Böwen, Petra ; Flammang, Manou Laure E-print/Working paper (2022)Dieser Newsletter beschreibt den Arbeitsmarkt der Sozialen Arbeit in Luxemburg 2020 und die Entwicklung der Zahlen in einigen Bereichen für 2018 bis 2020. Die Daten stammen von einem fortlaufenden ... [more ▼]Dieser Newsletter beschreibt den Arbeitsmarkt der Sozialen Arbeit in Luxemburg 2020 und die Entwicklung der Zahlen in einigen Bereichen für 2018 bis 2020. Die Daten stammen von einem fortlaufenden Forschungsprojekt des PraxisBüros der Universität Luxemburg. Der Newsletter stellt eine Auswahl an Statistiken dar, z.B. bezüglich der meist gefragten Qualifikationsniveaus, der Verteilung der Praxisfelder, der Verteilung der Stellenangebote zwischen öffentlichen, kommunalen, gemeinnützigen und privaten Trägern und der erfassten enormen Diskrepanz zwischen Nachfrage und Angebot an qualifizierten Professionellen in der Sozialen Arbeit. Desweiteren werden Entwicklungstrends- vor allem zu Thema Aus- und Weiterbildung aufgezeigt. [less ▲]Detailed reference viewed: 587 (38 UL) The Impact of the Asset Purchase Programme on Systemic Risk in the Euro Area: Is There a Threat?Chavarro Sanchez, Leidy; Nadal De Simone, Francisco; Lehnert, Thorsten E-print/Working paper (2021)Detailed reference viewed: 54 (0 UL) Auswirkungen der Covid-19-Krise auf die Soziale Arbeit in Luxemburg aus Sicht der Praxis : Ergebnisse einer Online-Befragung im Sommer 2020Flammang, Manou Laure ; Böwen, Petra E-print/Working paper (2021)This publication presents the findings of an online survey on the impact of the Covid-19 crisis on social work in Luxembourg from the perspective of practitioners. It shows what effects the crisis as well ... [more ▼]This publication presents the findings of an online survey on the impact of the Covid-19 crisis on social work in Luxembourg from the perspective of practitioners. It shows what effects the crisis as well as the hygiene and protection measures had on daily social work practice, on the addressees and on the practitioners themselves. The findings are then reflected upon and discussed in relation to international research findings and professional publications on the topic of social work in times of Covid-19. [less ▲]Detailed reference viewed: 952 (60 UL) Diversity on the screenZanaj, Skerdilajda E-print/Working paper (2021)Detailed reference viewed: 40 (2 UL) Earthquakes and Mental HealthBertinelli, Luisito ; Mahé, Clotilde; Strobl, EricE-print/Working paper (2021)Earthquakes may seriously deteriorate mental health by generating fear and stress as a result of economic and human losses. However, mental health has also been found to improve as a result of greater ... [more ▼]Earthquakes may seriously deteriorate mental health by generating fear and stress as a result of economic and human losses. However, mental health has also been found to improve as a result of greater social cohesion in affected communities after the event. We examine the short-run effects of earthquakes on a wide set of mental health outcomes in Ecuador. To this end, we combine hospital admissions, death records, and survey data with precise measures of local seismic activity to exploit the plausibly random spatial and temporal nature of earthquake intensity. We find that damaging earthquakes decrease the propensity to be admitted, the number of days of hospitalisation for mental and behavioural disorders, and deaths due to suicide. Estimates from nationally-representative surveys provide suggestive evidence of increased life satisfaction, trust, and religious observance, and thus provide a possible explanation for the fall in admissions and suicides after an earthquake. [less ▲]Detailed reference viewed: 133 (11 UL) A global carbon tax? Why firm mobility and heterogeneity mattersZanaj, Skerdilajda E-print/Working paper (2021)Detailed reference viewed: 153 (10 UL) Requirements And Threat Models of Adversarial Attacks and Robustness of Chest X-ray classificationGhamizi, Salah ; Cordy, Maxime ; Papadakis, Mike et alE-print/Working paper (2021)Vulnerability to adversarial attacks is a well-known weakness of Deep Neural Networks. While most of the studies focus on natural images with standardized benchmarks like ImageNet and CIFAR, little ... [more ▼]Vulnerability to adversarial attacks is a well-known weakness of Deep Neural Networks. While most of the studies focus on natural images with standardized benchmarks like ImageNet and CIFAR, little research has considered real world applications, in particular in the medical domain. Our research shows that, contrary to previous claims, robustness of chest x-ray classification is much harder to evaluate and leads to very different assessments based on the dataset, the architecture and robustness metric. We argue that previous studies did not take into account the peculiarity of medical diagnosis, like the co-occurrence of diseases, the disagreement of labellers (domain experts), the threat model of the attacks and the risk implications for each successful attack. In this paper, we discuss the methodological foundations, review the pitfalls and best practices, and suggest new methodological considerations for evaluating the robustness of chest xray classification models. Our evaluation on 3 datasets, 7 models, and 18 diseases is the largest evaluation of robustness of chest x-ray classification models. We believe our findings will provide reliable guidelines for realistic evaluation and improvement of the robustness of machine learning models for medical diagnosis. [less ▲]Detailed reference viewed: 86 (10 UL) The role of economic complexity on the formation of gender rolesZanaj, Skerdilajda E-print/Working paper (2021)Detailed reference viewed: 71 (13 UL) Labor Market Effects of Technology Shocks biased Toward the Traded SectorBertinelli, Luisito ; Cardi; RestoutE-print/Working paper (2021)Motivated by recent evidence pointing at an increasing contribution of asymmetric shocks across sectors to economic fluctuations, we explore the labor market effects of technology shocks biased toward the ... [more ▼]Motivated by recent evidence pointing at an increasing contribution of asymmetric shocks across sectors to economic fluctuations, we explore the labor market effects of technology shocks biased toward the traded sector. Our VAR evidence for seventeen OECD countries reveals that the non-traded sector alone drives the increase in total hours worked following a technology shock that increases permanently traded relative to non-traded TFP. The shock generates a reallocation of labor toward the non-traded sector which contributes to 35% on average of the rise in non-traded hours worked. Both labor reallocation and variations in labor income shares are found empirically connected with factor-biased technological change. Our quantitative analysis shows that a two-sector open economy model with flexible prices can reproduce the labor market effects we document empirically once we allow for imperfect mobility of labor, gross substitutability between home- and foreign-produced traded goods, and factor-biased technological change. When calibrating the model to country-specific data, its ability to account for the cross-country reallocation and redistributive effects we estimate increases once we let factor-biased technological change vary between sectors and across countries. [less ▲]Detailed reference viewed: 110 (7 UL) QKD parameter estimation by two-universal hashing leads to faster convergence to the asymptotic rateOstrev, Dimiter E-print/Working paper (2021)This paper proposes and proves security of a QKD protocol which uses two-universal hashing instead of random sampling to estimate the number of bit flip and phase flip errors. For this protocol, the ... [more ▼]This paper proposes and proves security of a QKD protocol which uses two-universal hashing instead of random sampling to estimate the number of bit flip and phase flip errors. For this protocol, the difference between asymptotic and finite key rate decreases with the number $n$ of qubits as $cn^{-1}$, where $c$ depends on the security parameter. For comparison, the same difference decreases no faster than $c'n^{-1/3}$ for an optimized protocol that uses random sampling and has the same asymptotic rate, where $c'$ depends on the security parameter and the error rate. [less ▲]Detailed reference viewed: 38 (3 UL) Impact of mining boom on the quality of public goods in Sub-Saharan AfricaBertinelli, Luisito ; Bourgain, Arnaud E-print/Working paper (2021)In this paper, we investigate the impact of public mining revenues on perception indicators of public goods quality in five mining countries that have recently experienced a boom in their government ... [more ▼]In this paper, we investigate the impact of public mining revenues on perception indicators of public goods quality in five mining countries that have recently experienced a boom in their government revenues: Burkina Faso, Ghana, D.R. Congo, Tanzania, and Zambia. The effect of the tax revenue boom is identified using a difference-in-differences estimation strategy. Our estimations indicate that people living in mining regions as having a sense of structural disadvantage in terms of the provision of public goods; however, this perception is pro-cyclical in the presence of resource booms/busts. Our results hold even after taking account of the possible endogeneity of our measure of resource revenue. [less ▲]Detailed reference viewed: 87 (6 UL) The good, the bad, and the asymmetric: Evidence from a new conditional density modelKostyrka, Andreï ; Malakhov, DmitryE-print/Working paper (2021)We propose a novel univariate conditional density model and decompose asset returns into a sum of copula-connected unobserved ‘good’ and ‘bad’ shocks. The novelty of this approach comes from two factors ... [more ▼]We propose a novel univariate conditional density model and decompose asset returns into a sum of copula-connected unobserved ‘good’ and ‘bad’ shocks. The novelty of this approach comes from two factors: we explicitly model correlation between unobserved shocks and allow for the presence of copula-connected discrete jumps. The proposed framework is very flexible and subsumes other models, such as ‘bad environments, good environments’. Our model shows certain hidden characteristics of returns, explains investors’ behaviour in greater detail, and yields better forecasts of risk measures. The in-sample and out-of-sample performance of our model is better than that of 40 popular GARCH variants. A Monte-Carlo simulation shows that the proposed model recovers the structural parameters of the unobserved dynamics. We estimate the model on S&P 500 data and find that time-dependent non-negative covariance between ‘good’ and ‘bad’ shocks with a leverage-like effect is an important component of total variance. Asymmetric reaction to shocks is present almost in all characteristics of returns. Conditional distribution of seems to be very time-dependent with skewness both in the centre and tails. We conclude that continuous shocks are more important than discrete jumps at least at daily frequency. [less ▲]Detailed reference viewed: 160 (20 UL) Insider’s problem in the trinomial model: a discrete jump process point of viewHalconruy, Hélène E-print/Working paper (2021)In an incomplete market underpinned by the trinomial model, we consider two investors: an ordinary agent whose decisions are driven by public information and an insider who possesses from the beginning a ... [more ▼]In an incomplete market underpinned by the trinomial model, we consider two investors: an ordinary agent whose decisions are driven by public information and an insider who possesses from the beginning a surplus of information encoded through a random variable for which he or she knows the outcome. Through the definition of an auxiliary model based on a marked binomial process, we handle the trinomial model as a volatility one, and use the stochastic analysis and Malliavin calculus toolboxes available in that context. In particular, we connect the information drift, i.e. the drift to eliminate in order to preserve the martingale property within an initial enlargement of filtration in terms of Malliavin’s derivative. We solve explicitly the agent and the insider expected logarithmic utility maximization problems and provide a Ocone-Karatzas type formula for replicable claims. We identify insider’s expected additional utility with the Shannon entropy of the extra information, and examine then the existence of arbitrage opportunities for the insider. [less ▲]Detailed reference viewed: 46 (3 UL) Evaluation of TPMS Signal Propagation in a Heavy Commercial Vehicle EnvironementRida, Ahmad ; Ridha, Soua; Engel, Thomas E-print/Working paper (2021)Detailed reference viewed: 59 (7 UL) Les langues dans les offres d'emploi au Luxembourg (1984-2019)Pigeron-Piroth, Isabelle ; Fehlen, Fernand E-print/Working paper (2021)À partir d’un échantillon d’offres d’emploi publiées dans le Luxemburger Wort, portant sur la période 1984-2019, cette étude décrit l’évolution des compétences linguistiques exigées ou souhaitées sur le ... [more ▼]À partir d’un échantillon d’offres d’emploi publiées dans le Luxemburger Wort, portant sur la période 1984-2019, cette étude décrit l’évolution des compétences linguistiques exigées ou souhaitées sur le marché du travail du Luxembourg. Après une présentation contextuelle de la situation linguistique et de l’emploi au Luxembourg, l’analyse empirique des quelques 8 340 offres d’emploi de notre échantillon constitue le cœur de cette publication. Aux divers tableaux et graphiques illustrant notre propos s’ajoutent des décryptages de la sémantique utilisée dans les offres d’emploi publiées, utiles à la compréhension des besoins linguistiques dans un marché du travail plurilingue et international. [less ▲]Detailed reference viewed: 445 (40 UL) Adaptively Secure Laconic Function Evaluation for NC1Agrawal, Shweta; Rosie, Razvan E-print/Working paper (2021)Detailed reference viewed: 150 (31 UL) Looking for the `Best and Brightest': Hiring difficulties and high-skilled foreign workersRaux, Morgan E-print/Working paper (2021)This paper studies the complementarity between domestic and foreign skilled workers. It develops a simple model where employers seek to recruit a foreign worker when finding domestic workers takes more ... [more ▼]This paper studies the complementarity between domestic and foreign skilled workers. It develops a simple model where employers seek to recruit a foreign worker when finding domestic workers takes more time. This paper confirms the predictions of the model. I rely on a within-firm within-occupation identification strategy to compare recruitment decisions made by a given employer for similar positions that differ in job posting duration. To identify this relationship, I have collected and assembled a new and original dataset at the job level. I match online job postings to administrative data on labor condition applications (LCAs) submitted as the first step in applying for H-1B temporary skilled worker visas. I find that employers are 28 percent more likely to submit an LCA when the job posting duration is one standard deviation longer. I provide evidence suggesting that this phenomenon is due to insufficient domestic labor supply in these occupations. [less ▲]Detailed reference viewed: 157 (24 UL) Cloturing DeliberationAnesi, Vincent ; Safronov, MikhailE-print/Working paper (2021)We study how the institutional arrangements for ending deliberation --- the "cloture rules" --- interact with collective learning to affect the outcomes of decision making in committees. In contrast to ... [more ▼]We study how the institutional arrangements for ending deliberation --- the "cloture rules" --- interact with collective learning to affect the outcomes of decision making in committees. In contrast to much of the previous literature on deliberative commit tees, this paper makes a distinction between the final votes over policy proposals and the cloture votes that bring them about. Using this approach, we explore how cloture rules influence the course of deliberation, the likelihood of inefficient deliberative outcomes, the circumstances surrounding failures to bring proposals to a final vote, and the distribution of power among committee members in the deliberative process. We also use our simple model to examine the issue of the stability of cloture rules, characterizing the rules that no coalition of committee members is able or willing to overturn. We show in particular that all cloture rules are dynamically stable. [less ▲]Detailed reference viewed: 213 (25 UL) Cultural differences and immigrants' wagesRaux, Morgan E-print/Working paper (2021)In this paper, I investigate how cultural differences affect the labor-market performance of immigrant workers in Germany. I document a negative relationship between hourly wages and the cultural distance ... [more ▼]In this paper, I investigate how cultural differences affect the labor-market performance of immigrant workers in Germany. I document a negative relationship between hourly wages and the cultural distance between immigrants' countries of origin and Germany. This result is robust across the three main indicators used in the gravity literature: linguistic, religious, and genetic distances. This cultural wage penalty disappears after five to ten years spent in Germany. Controlling for language proficiency as well as for selective in- and out-migration, these results highlight the cultural integration of immigrant workers. I finally provide evidence suggesting that lower wage progression may be explained by fewer job-to-job transitions. [less ▲]Detailed reference viewed: 193 (26 UL) Post-Quantum Secure LFE for L/poly with Smaller ParametersNaccache, David; Rosie, Razvan ; Spignoli, Lorenzo E-print/Working paper (2021)Detailed reference viewed: 159 (7 UL) Environmental Culture and Economic ComplexityZanaj, Skerdilajda E-print/Working paper (2021)Detailed reference viewed: 176 (41 UL) A powerful global test for spliceQTL effectsde Menezes, Renee X.; Rauschenberger, Armin ; ’t Hoen, Peter A. C. et alE-print/Working paper (2021)Statistical methods to test for effects of SNPs on exon inclusion exist, but often rely on testing of associations between multiple exon-SNP pairs, with sometimes subsequent summarization of results at ... [more ▼]Statistical methods to test for effects of SNPs on exon inclusion exist, but often rely on testing of associations between multiple exon-SNP pairs, with sometimes subsequent summarization of results at the gene level. Such approaches require heavy multiple testing correction, and detect mostly events with large effect sizes. We propose here a test to find spliceQTL effects which takes all exons and all SNPs into account simultaneously. For any chosen gene, this score-based test looks for association between the set of exon expressions and the set of SNPs, via a random-effects model framework. It is efficient to compute, and can be used if the number of SNPs is larger than the number of samples. In addition, the test is powerful to detect effects that are relatively small for individual exon-SNP pairs, but are observed for many pairs. Furthermore, test results are more often replicated across datasets than pairwise testing results. This partly our test is more robust to exon-SNP pair-specific effects, but do not extend to multiple pairs within the same gene. We conclude that the test we propose here offers more power and better replicability in the search for spliceQTL effects. [less ▲]Detailed reference viewed: 44 (2 UL) Genetic Diversity and Performance: Evidence From Football DataZanaj, Skerdilajda ; Beine, Michel ; Peracchi, Silvia E-print/Working paper (2021)Detailed reference viewed: 139 (23 UL) The role of score and information bias in panel data likelihoodsSchumann, Martin; Severini, Thomas A.; Tripathi, Gautam E-print/Working paper (2021)Detailed reference viewed: 149 (44 UL) COVID Stress Test for the Rule of Law: States of Emergency under International Human Rights LawBaglayan, Basak E-print/Working paper (2021)Detailed reference viewed: 51 (3 UL) Adversarial Robustness in Multi-Task Learning: Promises and IllusionsGhamizi, Salah ; Cordy, Maxime ; Papadakis, Mike et alE-print/Working paper (2021)Vulnerability to adversarial attacks is a well-known weakness of Deep Neural networks. While most of the studies focus on single-task neural networks with computer vision datasets, very little research ... [more ▼]Vulnerability to adversarial attacks is a well-known weakness of Deep Neural networks. While most of the studies focus on single-task neural networks with computer vision datasets, very little research has considered complex multi-task models that are common in real applications. In this paper, we evaluate the design choices that impact the robustness of multi-task deep learning networks. We provide evidence that blindly adding auxiliary tasks, or weighing the tasks provides a false sense of robustness. Thereby, we tone down the claim made by previous research and study the different factors which may affect robustness. In particular, we show that the choice of the task to incorporate in the loss function are important factors that can be leveraged to yield more robust models. [less ▲]Detailed reference viewed: 83 (1 UL) The Long-Term Effect of Research Grants on the Scientific Output of University ProfessorsHussinger, Katrin ; Carvalho, J.N.E-print/Working paper (2021)Detailed reference viewed: 67 (9 UL) Robust Estimation in Finite Mixture ModelsLecestre, Alexandre E-print/Working paper (2021)Detailed reference viewed: 137 (30 UL) Tax competition and phantom FDIZanaj, Skerdilajda E-print/Working paper (2021)Detailed reference viewed: 206 (37 UL) A new approach to model categorical homotopy fiber sequencesGovzmann, Alisa ; Pistalo, Damjan ; Poncin, Norbert E-print/Working paper (2021)Detailed reference viewed: 79 (1 UL) Comparison theorems for Kan, faintly universal and strongly universal derived functorsGovzmann, Alisa ; Pistalo, Damjan ; Poncin, Norbert E-print/Working paper (2021)Detailed reference viewed: 38 (3 UL) The Hidden Lattice ProblemNotarnicola, Luca ; Wiese, Gabor E-print/Working paper (2021)We consider the problem of revealing a small hidden lattice from the knowledge of a low-rank sublattice modulo a given sufficiently large integer -- the {\em Hidden Lattice Problem}. A central motivation ... [more ▼]We consider the problem of revealing a small hidden lattice from the knowledge of a low-rank sublattice modulo a given sufficiently large integer -- the {\em Hidden Lattice Problem}. A central motivation of study for this problem is the Hidden Subset Sum Problem, whose hardness is essentially determined by that of the hidden lattice problem. We describe and compare two algorithms for the hidden lattice problem: we first adapt the algorithm by Nguyen and Stern for the hidden subset sum problem, based on orthogonal lattices, and propose a new variant, which we explain to be related by duality in lattice theory. Following heuristic, rigorous and practical analyses, we find that our new algorithm brings some advantages as well as a competitive alternative for algorithms for problems with cryptographic interest, such as Approximate Common Divisor Problems, and the Hidden Subset Sum Problem. Finally, we study variations of the problem and highlight its relevance to cryptanalysis. [less ▲]Detailed reference viewed: 33 (0 UL) Redefining resilience: Integrative review and development of an assessment toolMantin, Binyamin E-print/Working paper (2021)Detailed reference viewed: 94 (14 UL) De la guerre civile du 16e siècle à la "guerre idéologique" du 19e siècle. La réception de la Révolte des Pays-Bas en BelgiqueWeis, Monique ; Houssiau, JeanE-print/Working paper (2021)Detailed reference viewed: 19 (2 UL) PROJECT WARLUX Ambiguities in biographies of Luxembourgish conscripts during and after WWIIJanz, Nina E-print/Working paper (2021)More than 10,000 Luxembourgish soldiers and recruits and an unknown number of Luxembourgish men and women wore German uniforms during WWII in armed forces and civil organisations, such as the Wehrmacht ... [more ▼]More than 10,000 Luxembourgish soldiers and recruits and an unknown number of Luxembourgish men and women wore German uniforms during WWII in armed forces and civil organisations, such as the Wehrmacht, Waffen-SS, armed police forces and the Reichsarbeitsdienst (RAD). The "WARLUX" project, based at the University of Luxembourg in the Luxembourg Centre for Contemporary and Digital History (C2DH), intends to collect the biographical data of Luxembourgers who were drafted into the German Army and the Labour Service. Around 3,000 young men and women are used in a case study to research their biographies and individual stories during the war, highlight different approaches to researching World War II, and show different résumés and personal experiences during this period. WARLUX aims to review the categories that have tended to be used in the national history discourse. For these women and men were called different like "forced recruit", "volunteer", "réfractaire" and "déserteur" were used, next to mentions of "Mort la patrie" for whom who died in German uniform. Are these terms appropriate to describe the experiences of these individuals, or do they need to be elucidated and challenged? Who were the people behind these abstract terms? What were their individual experiences, stories, reactions, choices, contradictions and survival strategies during and after World War II (Tames 2016)? The term "forced recruit" has come to suggest the general victim status of all conscripted Luxembourgish soldiers. In this content between the dualism of the official narrative and the historiography of the last decades, the project WARLUX wants to apply another concept: "situative opportunism", to question the cumulative heroism and the power of collective forms of decision-making in "forced environments", like the enrolment of young women and men (Fickers/Brüll, 2019). Following the biographical approach by analysing documents and personal views (letters, diaries), Andreas Fickers and Christoph Brüll (2019) use the term "situative opportunism" to emphasise the link between biographical research and sociological decision theory. Based on Schimank (2005), the authors state that every historical actor has multiple options in a complex decision-making process; these decisions are not necessarily egoist, neither the result of external constraints, but grounded in a situational logic of doing what seems most suitable in this very moment. The project is still in the initial phase but will soon deepen the analysis of the biographies of the individuals using the term "situational opportunism". With the application for the conference, the project team would like to discuss other approaches and start an exchange about other/opposite concepts. [less ▲]Detailed reference viewed: 34 (0 UL) Les reliques des "martyrs de Gorcum" à BruxellesWeis, Monique ; Houssiau, JeanE-print/Working paper (2021)Detailed reference viewed: 16 (2 UL) Indeterminacies and models of homotopy limitsGovzmann, Alisa ; Pistalo, Damjan ; Poncin, Norbert E-print/Working paper (2021)Detailed reference viewed: 53 (2 UL) Célébrer et statufier Érasme en ville : Bruxelles, Rotterdam et Bâle. Petit exercice d’archéologie de la mémoire, in M. Bracops & F. Preyat (eds.), Fortunes d’Érasme. Réception et traduction de la Renaissance à nos joursWeis, Monique ; Houssiau, JeanE-print/Working paper (2021)Detailed reference viewed: 15 (3 UL) Explaining Defect Detection with Saliency MapsLorentz, Joe ; Hartmann, Thomas; Moawad, Assaad et alE-print/Working paper (2021)The rising quality and throughput demands of the manufacturing domain require flexible, accurate and explainable computer-vision solutions for defect detection. Deep Neural Networks (DNNs) reach state-of ... [more ▼]The rising quality and throughput demands of the manufacturing domain require flexible, accurate and explainable computer-vision solutions for defect detection. Deep Neural Networks (DNNs) reach state-of-the-art performance on various computer-vision tasks but wide-spread application in the industrial domain is blocked by the lacking explainability of DNN decisions. A promising, human-readable solution is given by saliency maps, heatmaps highlighting the image areas that influence the classifier’s decision. This work evaluates a selection of saliency methods in the area of industrial quality assurance. To this end we propose the distance pointing game, a new metric to quantify the meaningfulness of saliency maps for defect detection. We provide steps to prepare a publicly available dataset on defective steel plates for the proposed metric. Additionally, the computational complexity is investigated to determine which methods could be integrated on industrial edge devices. Our results show that DeepLift, GradCAM and GradCAM++ outperform the alternatives while the computational cost is feasible for real time applications even on edge devices. This indicates that the respective methods could be used as an additional, autonomous post-classification step to explain decisions taken by intelligent quality assurance systems. [less ▲]Detailed reference viewed: 51 (1 UL) Anatomie de l'Europe médiévale. L’âge féodal : la parcellisation du pouvoir (fin IXe – fin XIIe s.)Margue, Michel E-print/Working paper (2020)Detailed reference viewed: 47 (1 UL) Common pool resource management and risk perceptionsMavi, Can Askan ; Quérou, NicolasE-print/Working paper (2020)Motivated by recent discussions about the issue of risk perceptions for climate change related events, we introduce a non-cooperative game setting where agents manage a common pool resource under a ... [more ▼]Motivated by recent discussions about the issue of risk perceptions for climate change related events, we introduce a non-cooperative game setting where agents manage a common pool resource under a potential risk, and agents exhibit different risk perception biases. Focusing on the effect of the polarization level and other population features, we show that the type of bias (overestimation versus underestimation biases) and the resource quality level before and after the occurrence of the shift have first-order importance on the qualitative nature of behavioral adjustments and on the pattern of resource conservation. When there are non-uniform biases within the population, the intra-group structure of the population qualitatively affects the degree of resource conservation. Moreover, unbiased agents may react in nonmonotone ways to changes in the polarization level when faced with agents exhibiting different types of bias. The size of the unbiased agents’ sub-population does not qualitatively affect how an increase in the polarization level impacts individual behavioral adjustments, even though it affects the magnitude of this change. Finally, it is shown how perception biases affect the comparison between centralized and decentralized management. [less ▲]Detailed reference viewed: 62 (0 UL) THIS TIME IS REALLY DIFFERENT: FLIGHT-TO-SAFETY AND THE COVID-19 CRISISLöwen, Celina; Kchouri, Bilal ; Lehnert, Thorsten E-print/Working paper (2020)Detailed reference viewed: 108 (11 UL) Development and Validation of the Revised Multicultural Ideology Scale in Germany and LuxembourgStogianni, Maria ; Berry, John; Grigoryev, Dmitry et alE-print/Working paper (2020)A revised version of the Multicultural Ideology Scale (rMCI; Berry 2020; Berry et al., 1977) is currently being developed to measure endorsement of multiculturalism in different cultural contexts. The ... [more ▼]A revised version of the Multicultural Ideology Scale (rMCI; Berry 2020; Berry et al., 1977) is currently being developed to measure endorsement of multiculturalism in different cultural contexts. The current study, which is part of this cross-cultural research project, presents the first assessment of the rMCI scale in the German language. The measure aims to cover several attitudinal dimensions of multiculturalism, relevant to the integration of different ethnocultural groups: Cultural Maintenance, Equity/Inclusion, Social interaction, Essentialistic Boundaries, Extent of Differences, and Consequences of Diversity. Two independent datasets were acquired from Germany (N = 382) and Luxembourg (N = 148) to estimate the factor structure of the rMCI using different confirmatory factor analysis techniques. The findings suggest that a 4-factor solution, including Cultural Maintenance, Equity/Inclusion, Social interaction, and Consequences of Diversity, was the best fit for the data. Most of these subscales demonstrated adequate psychometric properties (internal consistency, convergent, and discriminant validity). The 4-factor model of the rMCI was partially invariant across the two ethnic groups and full measurement invariance was established across gender. [less ▲]Detailed reference viewed: 93 (8 UL) Linear Z2n-Manifolds and Linear ActionsBruce, Andrew ; Ibarguengoytia, Eduardo ; Poncin, Norbert E-print/Working paper (2020)Detailed reference viewed: 67 (4 UL) Robust Estimation of a Regression Function in Exponential FamiliesBaraud, Yannick ; Chen, Juntong E-print/Working paper (2020)Detailed reference viewed: 176 (43 UL) The Luxembourg COVID-Kids questionnaireKirsch, Claudine ; Engel de Abreu, Pascale ; Neumann, Sascha E-print/Working paper (2020)Detailed reference viewed: 87 (4 UL) Der Arbeitsmarkt der Sozialen Arbeit 2019 = Le marché de l'emploi du secteur social en 2019Böwen, Petra ; Flammang, Manou Laure E-print/Working paper (2020)This newsletter describes the job market in the social work sector in Luxembourg in 2019. The data are derived from an ongoing research project by the PraxisBüro of the University of Luxembourg. The ... [more ▼]This newsletter describes the job market in the social work sector in Luxembourg in 2019. The data are derived from an ongoing research project by the PraxisBüro of the University of Luxembourg. The newsletter presents a selection of statistics concerning for example the most sought after qualification levels, the distribution of practice fields, the distribution of job offers on public, municipal, privat an non-governmental organisations an the documented gab between the demand of social workers with a Bachelor diploma and the number of Bachelor diplomas issued in Luxembourg [less ▲]Detailed reference viewed: 714 (51 UL) The Lehman Sisters ClaimLehnert, Thorsten E-print/Working paper (2020)I evaluate Christine Lagarde´s claim that more female leaders can be associated with more prudence, and less of the risky decision-making that had provoked the crisis. Indeed, the proportion of women who ... [more ▼]I evaluate Christine Lagarde´s claim that more female leaders can be associated with more prudence, and less of the risky decision-making that had provoked the crisis. Indeed, the proportion of women who are employed in decision-making and management roles in governments, large enterprises and institutions varies substantially across European countries and is oftentimes below 30%. Research suggests that in addition to biological differences, men and women show morphological dissimilarities in specific brain regions, which explain the observed differences in behavior. As a result, female decision makers tend to be more risk averse, better suited to carefully analyze a problem, superior in multitasking and better in creating solutions that work for a group. Not surprisingly, firms with more female decision makers tend to outperform their peers in terms of productivity, profitability and stock performance while taking fewer risks. In this paper, I aim to explore the effect of female decision making on aggregate equity returns. Relying on an equilibrium asset-pricing model in an economy under jump diffusion, I decompose the moments of the returns of European stock market indices into a diffusive (systematic) risk and an (idiosyncratic) extreme event risk part. For a balanced panel of European countries, I find empirical evidence for a Lehman sisters’ effect: female decision making is an important determinant of (idiosyncratic) extreme event risk. As a result, stock markets in countries with more female decision makers are characterized by higher risk aversion, lower volatility and more positive return asymmetry, primarily driven by extreme event risk, e.g. the lower frequency of negative jumps. Results are robust to the inclusion of various controls for other country- or market-specific characteristics. [less ▲]Detailed reference viewed: 53 (4 UL) Is Risk-Neutral Skewness an Indicator of Downside Risk? Evidence from Tail Risk-Taking of Hedge FundsLehnert, Thorsten E-print/Working paper (2020)Detailed reference viewed: 84 (3 UL) Retail Investors' Flight-From-Safety and the Skewness Risk PremiumLehnert, Thorsten E-print/Working paper (2020)Detailed reference viewed: 106 (6 UL) Deniable encryption, authentication, and key exchangeOstrev, Dimiter E-print/Working paper (2020)We present some foundational ideas related to deniable encryption, message authentication, and key exchange in classical cryptography. We give detailed proofs of results that were previously only sketched ... [more ▼]We present some foundational ideas related to deniable encryption, message authentication, and key exchange in classical cryptography. We give detailed proofs of results that were previously only sketched in the literature. In some cases, we reach the same conclusions as in previous papers; in other cases, the focus on rigorous proofs leads us to different formulations of the results. [less ▲]Detailed reference viewed: 139 (5 UL) Fiscal effects of migrants in Europe: a quantile regression approachJoxhe, Majlinda ; Zanaj, Skerdilajda ; Scaramozzino, PasqualeE-print/Working paper (2020)In this paper, we explore the fiscal impact of immigrants in Europe applying a quantile regression approach to data from the European Survey on Living Conditions (EU-SILC) for the period 2007-2015. Our ... [more ▼]In this paper, we explore the fiscal impact of immigrants in Europe applying a quantile regression approach to data from the European Survey on Living Conditions (EU-SILC) for the period 2007-2015. Our estimations show that not only on average but also in almost all income quantiles, the fiscal position of both European and non-European migrants is not significantly different from that of native citizens. Furthermore, non-EU migrants are net contributors as compared to the corresponding native citizens in the Netherlands and Belgium for various quantiles. Lastly, we examine the link between migrants’ fiscal position and the fiscal perception of native European citizens measured using ESS data. We find a conflicting relationship: countries where migrants are perceived negatively are instead countries where they are net fiscal contributors and vice versa. [less ▲]Detailed reference viewed: 90 (1 UL) Optimized Collision Search for STARK-Friendly Hash Challenge CandidatesUdovenko, Aleksei E-print/Working paper (2020)In this note, we report several solutions to the STARK-Friendly Hash Challenge: a competition with the goal of finding collisions for several hash functions designed specifically for zero-knowledge proofs ... [more ▼]In this note, we report several solutions to the STARK-Friendly Hash Challenge: a competition with the goal of finding collisions for several hash functions designed specifically for zero-knowledge proofs (ZKP) and multiparty computations (MPC). We managed to find collisions for 3 instances of 91-bit hash functions. The method used is the classic parallel collision search with distinguished points from van Oorshot and Wiener (1994). As this is a general attack on hash functions, it does not exhibit any particular weakness of the chosen hash functions. The crucial part is to optimize the implementations to make the attack cost realistic, and we describe several arithmetic tricks. [less ▲]Detailed reference viewed: 149 (5 UL) The signature method : a new tool enhancing time series clusteringClausel, Marianne; Lejay, Antoine; Terraza, Virginie E-print/Working paper (2020)Detailed reference viewed: 49 (1 UL) On the structure of symmetric $n$-ary bandsDevillet, Jimmy ; Mathonet, PierreE-print/Working paper (2020)We study the class of symmetric $n$-ary bands. These are $n$-ary semigroups $(X,F)$ such that $F$ is invariant under the action of permutations and idempotent, i.e., satisfies $F(x,\ldots,x)=x$ for all $x ... [more ▼]We study the class of symmetric$n$-ary bands. These are$n$-ary semigroups$(X,F)$such that$F$is invariant under the action of permutations and idempotent, i.e., satisfies$F(x,\ldots,x)=x$for all$x\in X$. We first provide a structure theorem for these symmetric$n$-ary bands that extends the classical (strong) semilattice decomposition of certain classes of bands. We introduce the concept of strong$n$-ary semilattice of$n$-ary semigroups and we show that the symmetric$n$-ary bands are exactly the strong$n$-ary semilattices of$n$-ary extensions of Abelian groups whose exponents divide$n-1$. Finally, we use the structure theorem to obtain necessary and sufficient conditions for a symmetric$n-ary band to be reducible to a semigroup. [less ▲]Detailed reference viewed: 48 (5 UL) Identiﬁability of Finite Mixture Models with underlying Normal DistributionNoel, Cédric; Schiltz, Jang E-print/Working paper (2020)In this paper, we show under which conditions generalized ﬁnite mixture with underlying normal distribution are identiﬁable in the sense that a given dataset leads to a uniquely determined set of model ... [more ▼]In this paper, we show under which conditions generalized ﬁnite mixture with underlying normal distribution are identiﬁable in the sense that a given dataset leads to a uniquely determined set of model parameter estimations up to a permuta-tion of the clusters. [less ▲]Detailed reference viewed: 34 (0 UL) Estimating the number of infected personsBaraud, Yannick ; Nourdin, Ivan ; Peccati, Giovanni E-print/Working paper (2020)The aim of this paper is to provide a confidence interval on the number of infected persons by COVID-19 within the population from the number of deaths reported in the hospitals and the mortality rate ... [more ▼]The aim of this paper is to provide a confidence interval on the number of infected persons by COVID-19 within the population from the number of deaths reported in the hospitals and the mortality rate (that is assumed to be known). [less ▲]Detailed reference viewed: 208 (26 UL) South Africa’s incomplete transition towards socio-economic justice: A case study on inequality and populismOwiso, Owiso ; Boshoff, ElsabéE-print/Working paper (2020)South Africa is currently one of the world’s most unequal countries, with massive income inequality, millions of people living in poverty without access to basic services and amenities, unemployment rates ... [more ▼]South Africa is currently one of the world’s most unequal countries, with massive income inequality, millions of people living in poverty without access to basic services and amenities, unemployment rates consistently above 20% and the top 10% of the population receiving two thirds of the total income. Government economic policies on poverty reduction in the decades since the advent of democracy in South Africa in 1994 have been unable to eradicate the extreme racialised inequality which was the basis of the 342 years of colonialism and apartheid which were characterised by systematic dispossession and socio-economic marginalisation of South Africa’s majority Black population and the systematic privileging of the minority White population. While this history is not the primary focus of this paper, it nonetheless provides useful context. The paper’s primary focus is on the more recent normative and legal challenges of post-1994 South Africa that have resulted in further entrenching socio-economic inequality and contributing to the rise of populism. In this paper we argue that the dire living conditions of a large proportion of the population and disillusionment with the State’s ability to deliver on its promises in this regard, along with the poor implementation of social and economic rights have led to the development of a populist culture in South African politics. [less ▲]Detailed reference viewed: 123 (20 UL) Legal Readiness for Climate Finance: The case of Bangladesh towards a transition to climate resilienceAlexandraki, Chrysa E-print/Working paper (2020)Even though the Paris Agreement posits the need to align overall financial flows with low-carbon and climate-resilient development in the heart of its objectives, developing countries face ample ... [more ▼]Even though the Paris Agreement posits the need to align overall financial flows with low-carbon and climate-resilient development in the heart of its objectives, developing countries face ample constraints in mitigating and adapting to climate change, while concomitantly embarking on reconciling the curbing of climate change with development concerns. Climate finance constitutes an enabling means not only for assisting developing countries in building capacities and enabling environments to address climate change in compliance with their commitments under the Paris Agreement, but most importantly for ushering a long-term development shift towards sustainability. This article furthers the discourse on what it means to be ‘legally ready’ for climate finance. It argues that legal reforms present a means to overcome legal barriers undermining climate finance effectiveness in developing countries, aimed at mainstreaming climate change considerations across all sectors and national policies, stimulating climate-related flows from all sources of finance, and instituting a paradigm shift towards climate-resilient development. First, it elaborates on the role of law in building climate finance readiness, the key legal barriers encountered in developing countries, and the main legal approaches and regulatory tools likely to enhance the four main capacities required to be ready for climate finance. Second, it illustrates the laws and policies currently implemented in Bangladesh concerning the country’s readiness for climate finance. The article concludes premised on the case study of Bangladesh that legal reforms are essential in developing countries, in order to ensure long-term climate finance effectiveness steering transformative changes. [less ▲]Detailed reference viewed: 125 (41 UL) Approximation of Riemannian measures by Stein’s methodThompson, James E-print/Working paper (2020)Detailed reference viewed: 79 (2 UL) Profit taxation and royalties: evidence from gold mines in Sub-Saharan AfricaBertinelli, Luisito ; Bourgain, Arnaud ; Zanaj, Skerdilajda E-print/Working paper (2019)In this paper, we analyze theoretically and empirically the effects of tax changes on firms’ profits in extractive industries. In the theoretical part, we assume a country that levies a profit tax and a ... [more ▼]In this paper, we analyze theoretically and empirically the effects of tax changes on firms’ profits in extractive industries. In the theoretical part, we assume a country that levies a profit tax and a royalty on the profits of extractive firms to maximize its tax revenues. The mining companies may reduce their taxable income by cost manipulation. By analyzing the optimal choice of the government and of the firms, we first establish the optimal tax policy and then we investigate the impact of the optimal fiscal policy on firms’ profits. In the empirical part of the paper, we estimate the effect of the profit tax and royalty on the extracting firms’ profit in African countries during the period spanning from 2007 to 2018. We use the Mining Intelligence database to constitute a panel of annual individual data from a database of 363 gold mines located in 21 Sub-Saharan countries. We obtain an inverse relationship between the tax rate change of the two tax instruments and the profit of the firms. [less ▲]Detailed reference viewed: 59 (3 UL) Der Arbeitsmarkt der Sozialen Arbeit 2018 = Le marché de l'emploi du secteur social en 2018Flammang, Manou Laure ; Böwen, Petra E-print/Working paper (2019)This newsletter describes the job market in the social work sector in Luxembourg in 2018. The data are derived from an ongoing research project by the "PraxisBüro" of the University of Luxembourg. The ... [more ▼]This newsletter describes the job market in the social work sector in Luxembourg in 2018. The data are derived from an ongoing research project by the "PraxisBüro" of the University of Luxembourg. The newsletter presents a selection of statistics concerning for example the most sought after qualification levels, the distribution of practice fields, the distribution of job offers in public, municipal, private and non-governmental organisations and the documented gap between the demand of social workers with a Bachelor diploma and the number of Bachelor diplomas issued in Luxembourg. [less ▲]Detailed reference viewed: 1496 (117 UL) The dual volume of quasi-Fuchsian manifolds and the Weil-Petersson distanceMazzoli, Filippo E-print/Working paper (2019)Making use of the dual Bonahon-Schläfli formula, we prove that the dual volume of the convex core of a quasi-Fuchsian manifold M is bounded by an explicit constant, depending only on the topology of M ... [more ▼]Making use of the dual Bonahon-Schläfli formula, we prove that the dual volume of the convex core of a quasi-Fuchsian manifold M is bounded by an explicit constant, depending only on the topology of M, times the Weil-Petersson distance between the hyperbolic structures on the upper and lower boundary components of the convex core of M. [less ▲]Detailed reference viewed: 99 (6 UL) Futuristic Project Becoming a Reality: Self-Driving Cars in LuxembourgVukovich, Lilla ; Vysotskaya, Volha E-print/Working paper (2019)Detailed reference viewed: 133 (20 UL) WHY IS THE MARKET SKEWNESS-RETURN RELATIONSHIP NEGATIVE?Lehnert, Thorsten E-print/Working paper (2019)Detailed reference viewed: 94 (3 UL) Inexact Block Coordinate Descent Algorithms for Nonsmooth Nonconvex OptimizationYang, Yang ; Pesavento, Marius; Luo, Zhi-Quan et alE-print/Working paper (2019)In this paper, we propose an inexact block coordinate descent algorithm for large-scale nonsmooth nonconvex optimization problems. At each iteration, a particular block variable is selected and updated by ... [more ▼]In this paper, we propose an inexact block coordinate descent algorithm for large-scale nonsmooth nonconvex optimization problems. At each iteration, a particular block variable is selected and updated by solving the original optimization problem with respect to that block variable inexactly. More precisely, a local approximation of the original optimization problem is solved. The proposed algorithm has several attractive features, namely, i) high flexibility, as the approximation function only needs to be strictly convex and it does not have to be a global upper bound of the original function; ii) fast convergence, as the approximation function can be designed to exploit the problem structure at hand and the stepsize is calculated by the line search; iii) low complexity, as the approximation subproblems are much easier to solve and the line search scheme is carried out over a properly constructed differentiable function; iv) guaranteed convergence to a stationary point, even when the objective function does not have a Lipschitz continuous gradient. Interestingly, when the approximation subproblem is solved by a descent algorithm, convergence to a stationary point is still guaranteed even if the approximation subproblem is solved inexactly by terminating the descent algorithm after a finite number of iterations. These features make the proposed algorithm suitable for large-scale problems where the dimension exceeds the memory and/or the processing capability of the existing hardware. These features are also illustrated by several applications in signal processing and machine learning, for instance, network anomaly detection and phase retrieval. [less ▲]Detailed reference viewed: 195 (35 UL) To be or not to be: How the Luxembourgish government is preparing for BrexitVysotskaya, Volha ; Vukovich, Lilla ; Bissinger, Jutta et alE-print/Working paper (2019)This article summarizes the potential impact of BREXIT on Luxembourg (as seen by April 2019).Detailed reference viewed: 138 (28 UL) Fear and EuphoriaLehnert, Thorsten E-print/Working paper (2019)Detailed reference viewed: 67 (1 UL) Corporate Governance and Skewness in Stock ReturnsBerglund, Tom; Lehnert, Thorsten ; Rolle, GudrunE-print/Working paper (2019)This paper analyzes the relationship between corporate governance and idiosyncratic skewness of stock returns. We test this hypothesis by analyzing the impact of external as well as internal governance ... [more ▼]This paper analyzes the relationship between corporate governance and idiosyncratic skewness of stock returns. We test this hypothesis by analyzing the impact of external as well as internal governance provisions, and are thus able to provide an overall understanding of the relationship between governance and firm-specific return asymmetries. Our results show that better governance leads to a reduction in idiosyncratic skewness in relatively non-competitive industries. In relatively competitive industries, governance has less to no impact on firm-specific return skewness. Furthermore, an overall increase in transparency, quality and disclosure of information, proxied through the Sarbanes Oxley Act, reduces relative idiosyncratic skewness. Our findings can be regarded as detrimental for shareholders, who have a preference for positive idiosyncratic skewness. The evidence contributes to a debate, which suggests that – at the end of the day – an act like Sarbanes-Oxley, which was intended to protect shareholders from accounting errors and frauds and to improve the accuracy of corporate disclosures, comes at the expenses of shareholders. The reduction of idiosyncratic skewness through better governance collides with shareholder’s preference for idiosyncratic and positively skewed stock returns, which present a lottery like upside option of monetary gains and value creation through the right tail. This side effect of governance is also in line with the literature that highlights potential costs of corporate governance. [less ▲]Detailed reference viewed: 109 (1 UL) A System and Method for Monitoring Controlling and Troubleshooting of Abrasive Waterjet Cutting ApparatusCopertaro, Edoardo E-print/Working paper (2019)The invention consists of a system and method for monitoring, controlling and troubleshooting of Abrasive Waterjet Cutting machinery. More in detail, the method exploits a network of sensors for ... [more ▼]The invention consists of a system and method for monitoring, controlling and troubleshooting of Abrasive Waterjet Cutting machinery. More in detail, the method exploits a network of sensors for continuously monitor its vibroacoustic emission pattern. Relevant features are extracted from the data using an iterative processing method. Deviations from a benchmark are interpreted based on model training then used for automatic control and troubleshooting. The expected outcome is an improvement of waterjet automation and robustness to the excellence of Industry 4.0 with a consequent impact on both its cost effectiveness and the provided quality assurance. [less ▲]Detailed reference viewed: 121 (10 UL) Erster Forschungsbericht zur Weiterentwicklung der „Enquête concernant la qualité de vie et la motivation au travail“.Sischka, Philipp ; Fernandez de Henestrosa, Martha ; Steffgen, Georges E-print/Working paper (2019)Das Ministère de la Fonction publique et de la Réforme administrative hat 2017 eine Befragung mit dem Titel “Enquête concernant la qualité de vie et la motivation au travail” unter den Mitarbeitern des ... [more ▼]Das Ministère de la Fonction publique et de la Réforme administrative hat 2017 eine Befragung mit dem Titel “Enquête concernant la qualité de vie et la motivation au travail” unter den Mitarbeitern des öffentlichen Dienstes durchgeführt. Die Universität Luxembourg wurde damit betraut, die psychometrische Qualität des Fragebogens zu prüfen, die Zusammenhänge zwischen den Gruppenvariablen zu untersuchen, die gruppenbezogene Vergleiche vorzulegen, die Befunde mit mit denen anderer Studien zu vergleichen sowie Handlungshinweise zur Optimierung der Arbeitsqualitàt vorzulegen (siehe Convention de recherche entre l‘Université du Luxembourg et le Minsitère de la Fonction Publique et de la Réforme administrative du 24. mai 2018). Entsprechend der Vorgaben der Konvention werden in dem vorliegenden ersten Bericht, die Befunde a) zu der psychometrischen Testung der Güte des aktuellen Erhebungsinstruments (Punkt 2.1.1 der Konvention), b) zu den gruppenbezogenen Vergleiche (Punkt 2.1.3, Satz 1 der Konvention) sowie c) zu den Zusammenängen zwischen den Gruppenvariablen (Punkt 2.1.2 der Konvention) vorgelegt. In einem ersten Schritt erfolgt zunächst eine Beschreibung der Items mittels verteilungsbe-schreibender Maßzahlen und Balkendiagramme, wobei die Items auch auf fehlende Werte un-tersucht werden. Ergebnisse der inhaltlichen und psychometrischen Itemprüfung zeigen, dass der Fragebogen z.T. noch wichtige Entwicklungsfelder aufweist. In einem zweiten Schritt werden exploratorische Faktorenanalysen durchgeführt, um einen Überblick über die Faktorstruktur des Fragebogens zu erhalten. Die Faktoranalysen erfolgen bezogen auf die einzelnen Themenblöcke (Zufriedenheit, Motivation, Wohlbefinden, Arbeits-bedingungen). Auf Basis der identifizierten Faktorstruktur wurden geeignete Items aus den vier Bereichen zu 17 Skalen zusammengefasst. In einem dritten Schritt erfolgt eine Analyse der internen Konsistenz der neu gebildeten Skalen. Zudem werden die Inter-Korrelationen dieser Skalen vorgelegt. Befunde zeigen, dass die meisten Skalen akzeptable bis exzellente Reliabilitätskoeffizienten aufweisen. Allerdings lassen sich erhöhte Inter-Korrelationen zwischen einigen Skalen identifizieren, die auf eine vorliegende Redundanz der Skalen deuten. In einem vierten Schritt werden gruppenbezogene Vergleiche hinsichtlich Geschlecht, Alters-gruppen, Beschäftigungssituation, Jahre im öffentlichen Dienst, Gehaltsgruppen, Anzahl Zusammenfassung II zugeordneter Mitarbeiter sowie Länge des Arbeitswegs zu den neu gebildeten Skalen durchgeführt und die Befunde präsentiert. Beispielsweise zeigen Mitarbeiter mit den wenigsten Jahren im öffentlichen Dienst tendenziell günstigere Werte hinsichtlich der vier Themenblöcke auf. In einem fünften Schritt werden Regressionsanalysen durchgeführt, um Zusammenhänge zwischen den Gruppenvariablen, Arbeitsbedingungen und den einzelnen Themenblöcken zu veranschaulichen. Die Befunde verdeutlichen, dass Zufriedenheit, Motivation und Wohl-befinden mit verschiedenen Arbeitsbedingungen assoziiert sind. In einem abschließenden Schritt wird das gesamte Erhebungsinstrument zusammenfassend diskutiert und Empfehlungen bezüglich der weiteren Entwicklung des Fragebogens und der Skalen gegeben. [less ▲]Detailed reference viewed: 50 (12 UL) Consumption home bias and ethnocentrism: an international duopolyZanaj, Skerdilajda E-print/Working paper (2019)We define a model with two countries and two vertically differentiated goods, a high and a low-quality variant, and heterogenous consumers with respect to their willingness to pay for quality. Consumers ... [more ▼]We define a model with two countries and two vertically differentiated goods, a high and a low-quality variant, and heterogenous consumers with respect to their willingness to pay for quality. Consumers in one country are ethnocentric in consumption. They thrive additional satisfaction when consuming a domestic good rather than a foreign one since only the former can satisfy their sense of place. We investigate the role of trade costs and ethnocentric attitude in shaping the equilibrium configuration of the international duopoly. [less ▲]Detailed reference viewed: 49 (2 UL) UC Updatable Non-Hiding Committed Database with Efficient Zero-Knowledge ProofsRial, Alfredo E-print/Working paper (2019)We define an ideal functionality\Functionality_{\DB}$and a protocol$\mathrm{\Pi_{\DB}}$for an updatable non-hiding committed database ($\DB$).$\DB$is described as the task of storing a database ... [more ▼]We define an ideal functionality$\Functionality_{\DB}$and a protocol$\mathrm{\Pi_{\DB}}$for an updatable non-hiding committed database ($\DB$).$\DB$is described as the task of storing a database into a suitable data structure that allows you to efficiently prove in zero-knowledge (ZK) that a value is stored in the database at a certain position. The database is \emph{non-hiding} because both prover and verifier know its content. It is \emph{committed} in the sense that only ZK proofs about position-value pairs that are actually stored are possible. It is \emph{updatable} because its contents can be modified dynamically throughout the protocol execution. The$\DB$task is used implicitly as building block of privacy-preserving protocols for e-commerce, smart billing and access control. In those protocols, this task is intertwined with others. Our functionality$\Functionality_{\DB}$allows us to study constructions for this task in isolation. Furthermore, it allows us to improve modularity in protocol design, by using$\Functionality_{\DB}$as building block of those protocols along with functionalities for other tasks. Our construction$\mathrm{\Pi_{\DB}}$uses a non-hiding vector commitment (VC) scheme as building block. Thanks to the efficiency properties of non-hiding VC schemes,$\mathrm{\Pi_{\DB}}$provides ZK proofs whose computation cost (after initialization) and whose size are both independent of the database size. Therefore,$\mathrm{\Pi_{\DB}}$is suitable for large databases. Moreover, the database can be updated dynamically and very efficiently. [less ▲]Detailed reference viewed: 131 (36 UL) Social division in the market: conspicous consumption with nationalist feelingsZanaj, Skerdilajda E-print/Working paper (2019)In this paper, we explore the effects of conspicuous goods as a means of social division between native citizens and migrants. We push forward the hypothesis that choosing a particular good can confer a ... [more ▼]In this paper, we explore the effects of conspicuous goods as a means of social division between native citizens and migrants. We push forward the hypothesis that choosing a particular good can confer a sense of place. We introduce this idea in an international vertical differentiation market with two variants and two social groups: migrants and natives. Natives are narrow-minded since they attribute a positive social value to the variant that complies with their own consumption culture. Migrants are open-minded. When consumers belonging to different groups meet, they exchange information about their consumption habits and consumption well-being that reveals their consumption culture: narrow-minded versus open-minded. Consequently, after meeting, some consumers may change beliefs (narrow-minded to open-minded or vice versa) and consumption choices. Using a dynamic model, we fully elucidate the steady-state equilibrium and highlight the impact of nationalism on migrant integration. [less ▲]Detailed reference viewed: 78 (1 UL) Krichever-Novivkov type algebras. A general review and the genus zero caseSchlichenmaier, Martin E-print/Working paper (2019)In the first part of this survey we recall the definition and some of the constructions related to Krichever--Novikov type algebras. Krichever and Novikov introduced them for higher genus Riemann surfaces ... [more ▼]In the first part of this survey we recall the definition and some of the constructions related to Krichever--Novikov type algebras. Krichever and Novikov introduced them for higher genus Riemann surfaces with two marked points in generalization of the classical algebras of Conformal Field Theory. Schlichenmaier extended the theory to the multi-point situation and even to a larger class of algebras. The almost-gradedness of the algebras and the classification of almost-graded central extensions play an important role in the theory and in applications. In the second part we specialize the construction to the genus zero multi-point case. This yields beside instructive examples also additional results. In particular, we construct universal central extensions for the involved algebras, which are vector field algebras, differential operator algebras, current algebras and Lie superalgebras. We point out that the recently (re-)discussed$N\$-Virasoro algebras are nothing else as multi-point genus zero Krichever-Novikov type algebras. The survey closes with structure equations and central extensions for the three-point case. [less ▲]Detailed reference viewed: 133 (0 UL) The War of Rare Earth Elements: A Dynamic Game ApproachBertinelli, Luisito ; Poncin, Stéphane Louis Maxim ; Zou, Benteng E-print/Working paper (2019)Rare earth elements govern today’s high-tech world and are deemed to be essential for the attainment of sustainable development goals. Since the 1990s, these elements have been predominantly supplied by ... [more ▼]Rare earth elements govern today’s high-tech world and are deemed to be essential for the attainment of sustainable development goals. Since the 1990s, these elements have been predominantly supplied by one single actor, China. However, due to the increasing global relevance of their availability, other countries are now encouraged to enter the market. The objective of this paper is to analyze the strategic interactions among (potential) suppliers. In particular, we are interested in (1) the optimal timing for a newcomer (e.g. the U.S.) to enter the market, (2) the incumbent’s (i.e. China’s) optimal behavior, and (3) the cost-efficiency of cooperative vs. competitive market relations. By setting up a continuous-time dynamic game model, we show that (1) the newcomer should postpone the production launch until its rare earth reserves coincide with those of the incumbent, (2) the incumbent should strive for a late market entry and therefore keep its monopolistic resource extraction at the lowest possible level, (3) compared to the payoffs under competition, cooperation leads to a Pareto improvement when started at an early stage. The findings of our model are particularly relevant for the rational strategic positioning of the two great powers, America and China. [less ▲]Detailed reference viewed: 154 (22 UL) Bianchi's additional symmetriesRahm, Alexander E-print/Working paper (2019)Detailed reference viewed: 85 (1 UL) An introduction to the theory of unconditionally secure message authentication using the constructive cryptography frameworkOstrev, Dimiter E-print/Working paper (2019)We provide an introduction to certain ideas from the theory of unconditionally secure message authentication. We explain the notions of impersonation and substitution attacks, and explain how protection ... [more ▼]We provide an introduction to certain ideas from the theory of unconditionally secure message authentication. We explain the notions of impersonation and substitution attacks, and explain how protection against these two types of attack implies composable, information theoretic security. We explain the relation of authentication protocols to universal hashing. We give both probabilistic and explicit constructions proving the existence of one way authentication protocols using a short secret key and we prove matching lower bounds on the required secret key size. Then, we turn attention to interactive authentication protocols. We explain the message size reduction technique used by Gemmell and Naor and later Naor, Segev and Smith, and how it leads to protocols with secret key size independent of the message length. We also prove a matching lower bound on the secret key entropy. We generalize the lower bound proof of Naor, Segev and Smith and remove the assumption that the message is revealed in the first flow of the protocol. [less ▲]Detailed reference viewed: 115 (12 UL) Individual Attitudes towards Immigration in Aging PopulationsIrmen, Andreas ; Cömertpay, Rana ; Litina, Anastasia E-print/Working paper (2019)This research empirically establishes the hypothesis that the process of population aging in a society as a whole affects the attitudes of its members towards immigration. Hence, an aging social ... [more ▼]This research empirically establishes the hypothesis that the process of population aging in a society as a whole affects the attitudes of its members towards immigration. Hence, an aging social environment exerts an effect on the attitudes of individuals towards immigration after accounting for their age and other individual characteristics. We test this hypothesis in a multilevel analysis of individuals living in 25 European OECD countries over the period 2002-2017. Our measure of “societal population aging” is the old-age dependency ratio. “Attitudes” are taken from immigration related questions in eight consecutive rounds of the European Social Survey. For these attitudes we find non-linear, U-shaped relationships. Hence, the effect of societal population aging on individual attitudes towards immigration is negative in young societies and positive in old ones. [less ▲]Detailed reference viewed: 91 (8 UL) Migration patterns in LuxembourgStogianni, Maria E-print/Working paper (2018)Detailed reference viewed: 45 (0 UL) Procedural rights within the European Economic Constitution: which remedies for the rights and interests of those affected by the legal measures enacted to counter the economic crisis?Zaccaroni, Giovanni E-print/Working paper (2018)Detailed reference viewed: 57 (4 UL) Qualität der Kommunikation in der Familie / Qualité de la communication au sein de la familleHeinz, Andreas ; Kern, Matthias Robert ; Residori, Caroline et alE-print/Working paper (2018)In der HBSC-Studie 2014 sollten die Schüler vier Aussagen zur Qualität der Kommunikation in ihrer Familie auf einer Skala von 1 (= niedrige Qualität) bis 5 (= hohe Qualität) bewerten. Über 80 % vergeben ... [more ▼]In der HBSC-Studie 2014 sollten die Schüler vier Aussagen zur Qualität der Kommunikation in ihrer Familie auf einer Skala von 1 (= niedrige Qualität) bis 5 (= hohe Qualität) bewerten. Über 80 % vergeben gute Bewertungen im Bereich von 4 oder 5. Rund 12 % der Schüler bewerten die Qualität der Familienkommunikation im mittleren Bereich (3) und 5 % vergeben niedrige Bewertungen (1 oder 2). Ältere Schüler bewerten die Familienkommunikation schlechter als jüngere. Dementsprechend bewerten Schüler des Fondamental die Familienkommunikation besser als Schüler von Sekundarschulen. Schüler, die eine hohe Qualität angeben, berichten eine geringere Zahl von Gesundheitsbeschwerden. [less ▲]Detailed reference viewed: 191 (22 UL) Mobbing in der Schule / Harcèlement à l’écoleHeinz, Andreas ; van Duin, Claire ; Kern, Matthias Robert et alE-print/Working paper (2018)In der Kindheit und Jugend gemobbt zu werden ist ein Risikofaktor für schlechtere Schulleistungen, aber langfristig auch für Angststörungen im Erwachsenenalter. Daher wurde in der HBSC-Studie 2014 gefragt ... [more ▼]In der Kindheit und Jugend gemobbt zu werden ist ein Risikofaktor für schlechtere Schulleistungen, aber langfristig auch für Angststörungen im Erwachsenenalter. Daher wurde in der HBSC-Studie 2014 gefragt, wie häufig die Schüler in den vergangenen Monaten in der Schule gemobbt wurden. 73 % waren nicht von Mobbing betroffen, 16 % wurden 1- bis 2-mal gemobbt und 11 % wurden mindestens 2-mal pro Monat gemobbt. Ältere Schüler waren seltener Opfer von Mobbing als jüngere Schüler, wobei Jungen und Mädchen in allen Altersgruppen ähnlich häufig betroffen waren. Dementsprechend waren die Schüler des Fondamental und des Modulaire häufiger betroffen als die Schüler des Secondaire technique und des Secondaire. Schüler, die aus Familien mit einem geringen Wohlstandsniveau stammen, waren häufiger Mobbingopfer als Schüler aus wohlhabenden Familien. Mit der Häufigkeit des Mobbings sinkt die Lebenszufriedenheit und die Zahl der Gesundheitsbeschwerden steigt. [less ▲]Detailed reference viewed: 670 (28 UL) Bewertung des Klassenklimas / Climat de classevan Duin, Claire ; Heinz, Andreas ; Kern, Matthias Robert et alE-print/Working paper (2018)In der HBSC-Studie 2014 sollten die Schüler die folgende Aussage zum Klassenklima bewerten: „Die meisten Schüler in meiner Klasse sind nett und hilfsbereit.“ 72 % stimmen dieser Aussage zu, 10 % lehnen ... [more ▼]In der HBSC-Studie 2014 sollten die Schüler die folgende Aussage zum Klassenklima bewerten: „Die meisten Schüler in meiner Klasse sind nett und hilfsbereit.“ 72 % stimmen dieser Aussage zu, 10 % lehnen sie ab und 18 % wählen die neutrale Mittelkategorie. Getrennt nach Alter und Geschlecht zeigen sich kaum Unterschiede im wahrgenommenen Klassenklima. Allerdings bewerten Schüler des Fondamental und des Secondaire das Klassenklima besser als Schüler des Secondaire technique und des Modulaire. Je besser das Klassenklima bewertet wird, desto zufriedener sind die Schüler mit ihrem Leben und desto mehr mögen sie die Schule. [less ▲]Detailed reference viewed: 426 (12 UL) Tägliches Essen von Obst und Gemüse / Consommation quotidienne de fruits et de légumesvan Duin, Claire ; Residori, Caroline ; Kern, Matthias Robert et alE-print/Working paper (2018)Ein hoher Gemüse- und Obstverzehr ist Teil eines gesunden Lebensstils. In der HBSC-Studie 2014 wurden die Schüler daher gefragt, wie häufig sie Obst und Gemüse essen: 37 % gaben an, täglich Obst zu essen ... [more ▼]Ein hoher Gemüse- und Obstverzehr ist Teil eines gesunden Lebensstils. In der HBSC-Studie 2014 wurden die Schüler daher gefragt, wie häufig sie Obst und Gemüse essen: 37 % gaben an, täglich Obst zu essen und 32 % gaben den täglichen Verzehr von Gemüse an. Schüler der Altersgruppe 11-12 essen häufiger Obst und Gemüse als Schüler im Alter von 13-18. Der tägliche Konsum von Obst und Gemüse ist bei Mädchen häufiger als bei Jungen. Des Weiteren ist der tägliche Konsum bei Schülern aus wohlhabenden Familien weiter verbreitet als bei Schülern aus nicht wohlhabenden Familien. Schüler des Fondamental und des Enseignement secondaire geben einen täglichen Verzehr häufiger an als Schüler des Enseignement secondaire technique und des Modulaire. [less ▲]Detailed reference viewed: 177 (23 UL) Fernsehkonsum von Schülern / Consommation de télévisionvan Duin, Claire ; Heinz, Andreas ; Kern, Matthias Robert et alE-print/Working paper (2018)In der HBSC-Studie 2014 wurden die Schüler gefragt, wie lange sie an einem Wochentag fernsehen. Knapp 8 % geben an, nicht fernzusehen, weitere 19 % schauen eine halbe Stunde fern. 57 % schauen 2 Stunden ... [more ▼]In der HBSC-Studie 2014 wurden die Schüler gefragt, wie lange sie an einem Wochentag fernsehen. Knapp 8 % geben an, nicht fernzusehen, weitere 19 % schauen eine halbe Stunde fern. 57 % schauen 2 Stunden oder mehr fern, was als häufiger TV-Konsum definiert wird. Bei Schülern im Alter von 13-18 ist häufiger TV-Konsum weiter verbreitet als bei Schülern im Alter von 11-12. Des Weiteren ist häufiger TV-Konsum verbreiteter bei Schülern des Secondaire technique als bei Schülern des Fondamental sowie des Secondaire. Schüler, die davon ausgehen, dass ihre Lehrer sie für leistungsschwach halten, schauen häufiger Fernsehen als Schüler, die denken, dass ihre Lehrer sie für überdurchschnittlich leistungsfähig halten. [less ▲]Detailed reference viewed: 117 (12 UL) Körperliche Aktivität von Schülern in ihrer Freizeit / Activité physique des élèves pendant leur temps libreHeinz, Andreas ; Kern, Matthias Robert ; Residori, Caroline et alE-print/Working paper (2018)In der HBSC-Studie 2014 wurden die Schüler gefragt, wie häufig sie in ihrer Freizeit so aktiv sind, dass sie außer Atem oder ins Schwitzen kommen. Rund jeder zehnte Schüler ist nach eigenen Angaben nie ... [more ▼]In der HBSC-Studie 2014 wurden die Schüler gefragt, wie häufig sie in ihrer Freizeit so aktiv sind, dass sie außer Atem oder ins Schwitzen kommen. Rund jeder zehnte Schüler ist nach eigenen Angaben nie körperlich aktiv, rund jeder sechste ist hingegen an 7 Stunden oder häufiger pro Woche aktiv. Im internationalen Vergleich sind die luxemburgischen Schüler überdurchschnittlich häufig körperlich aktiv. Allerdings nimmt die Aktivität im Laufe der Jugend ab und bestimmte Gruppen sind aktiver als andere: Jungen sind in allen Altersgruppen aktiver als Mädchen und Kinder aus wohlhabenden Familien sind aktiver als Kinder aus nicht wohlhabenden Familien. Schüler des Enseignement secondaire sind aktiver als Schüler des Modulaire. [less ▲]Detailed reference viewed: 161 (19 UL) Electryo, In-person Voting with Transparent Voter Verifiability and Eligibility VerifiabilityRoenne, Peter ; Ryan, Peter ; Zollinger, Marie-Laure E-print/Working paper (2018)Selene is an e-voting protocol that allows voters to directly check their individual vote, in cleartext, in the final tally via a tracker system, while providing good coercion mitigation. This is in ... [more ▼]Selene is an e-voting protocol that allows voters to directly check their individual vote, in cleartext, in the final tally via a tracker system, while providing good coercion mitigation. This is in contrast to conventional, end-to-end verifiable schemes in which the voter verifies the presence of an encryption of her vote on the bulletin board. The Selene mechanism can be applied to many e-voting schemes, but here we present an application to the polling station context, resulting in a voter-verifiable electronic tally with a paper audit trail. The system uses a smartcard-based public key system to provide the individual verifica- tion and universal eligibility verifiability. The paper record contains an encrypted link to the voter’s identity, requiring stronger assumptions on ballot privacy than normal paper voting, but with the benefit of pro- viding good auditability and dispute resolution as well as supporting (comparison) risk limiting audits. [less ▲]Detailed reference viewed: 184 (15 UL) The re-constitutionalisation of the EMU after the economic crisisZaccaroni, Giovanni E-print/Working paper (2018)Detailed reference viewed: 56 (1 UL) EU’s Schrodinger’s cat: is there a democracy divide within the Economic and Monetary Union?Zaccaroni, Giovanni E-print/Working paper (2018)Detailed reference viewed: 42 (1 UL) The Subsidy to Infrastructure as an Asset Class*Kräussl, Roman ; Andonov, Aleksandar; Rauh, JoshuaE-print/Working paper (2018)Detailed reference viewed: 80 (3 UL) Asset Pricing Implications of Good GovernanceLehnert, Thorsten E-print/Working paper (2018)Some of the world’s poorest countries have demonstrated that political leadership and practical policies make a difference. Good governance could help to strengthen accountability, enhance participation ... [more ▼]Some of the world’s poorest countries have demonstrated that political leadership and practical policies make a difference. Good governance could help to strengthen accountability, enhance participation and break down inequalities. Furthermore, a country’s quality of government has a positive effect on the development of its financial market and equity returns. In particular, it lowers equity volatility and, therefore, the costs of equity financing, which further helps to reduce inequalities. While price jumps are prevalent in stock markets all over the world, previous literature provides little guidance about the international nature of jumps and its relationship with country characteristics. Jumps are found to be far less systematic than the smooth (non-jump) component of country price indexes. Hence, if jumps are more idiosyncratic, governance should primarily affect the jump risk component of stock market volatility. This is good news for international investors, because diversification provides insurance against jumps. Relying on an equilibrium asset-pricing model in an economy under jump diffusion, I decompose the moments of the returns of international stock markets into a diffusive (systematic) risk and a (idiosyncratic) jump risk part. Using stock market data for a balanced panel of 52 countries, my results suggest that risk governance is an important determinant of (idiosyncratic) jump risk. Stock markets in poorly governed countries are characterized by higher volatility and more negative return asymmetry, primarily driven by the higher jump risk. Among the different governance indicators analyzed, the regulatory quality, the government effectiveness and the control of corruption appear to be most important. Results are robust to the inclusion of various controls for other country- or market-specific characteristics. My results have important policy implications. [less ▲]Detailed reference viewed: 112 (3 UL) Market Skewness Risk, Risk Aversion and the Cross-Section of Stock ReturnsBams, Dennis; Honarvar, Iman; Lehnert, Thorsten E-print/Working paper (2018)Previous research suggests that the cross section of stock returns has substantial exposure to risks captured by higher moments of market returns, implied by S&P500 index option prices. However, assuming ... [more ▼]Previous research suggests that the cross section of stock returns has substantial exposure to risks captured by higher moments of market returns, implied by S&P500 index option prices. However, assuming that risk aversion is time-varying, a risk-based explanation would suggest that the exposure is priced in periods of high risk aversion, while it is not necessarily priced/weaker in periods of low risk aversion. We find that for market skewness and kurtosis, this hypothesis is not supported by the data. We find that each of the higher moment prices of risk is time-varying and has significantly different patterns under different market conditions, proxied by a measure of investors’ relative risk aversion. In particular, in line with our reasoning, our results suggest that only in down-markets (high risk aversion periods), the exposure to the market volatility innovations is priced significantly negative in the cross-section of stocks, while it is not priced in up-markets (low risk aversion periods). In contrast, we find that in down-markets, market skewness and kurtosis are not priced risk factors, while the price of market skewness risk is significantly negative and the price of kurtosis risk is positive in up-markets. However, the previously reported results for skewness and kurtosis are counterintuitive, strictly violate the risk compensation principles and, therefore, do not support a risk-based explanation. The results persist even after controlling for the Fama-French and Carhart factors. [less ▲]Detailed reference viewed: 140 (1 UL) Model Uncertainty and Pricing Performance in Option ValuationBams, Dennis; Blanchard, Gildas; Lehnert, Thorsten E-print/Working paper (2018)The objective of this paper is to evaluate option pricing model performance at the cross sectional level. For this purpose, we propose a statistical framework, in which we in particular account for the ... [more ▼]The objective of this paper is to evaluate option pricing model performance at the cross sectional level. For this purpose, we propose a statistical framework, in which we in particular account for the uncertainty associated with the reported pricing performance. Instead of a single figure, we determine an entire probability distribution function for the loss function that is used to measure option pricing model performance. This methodology enables us to visualize the effect of parameter uncertainty on the reported pricing performance. Using a data driven approach, we confirm previous evidence that standard volatility models with clustering and leverage effects are sufficient for the option pricing purpose. In addition, we demonstrate that there is short-term persistence but long-term heterogeneity in cross-sectional option pricing information. This finding has two important implications. First, it justifies the practitioner’s routine to refrain from time series approaches, and instead estimate option pricing models on a cross-section by cross-section basis. Second, the long term heterogeneity in option prices pinpoints the importance of measuring, comparing and testing option pricing model for each cross-section separately. To our knowledge no statistical testing framework has been applied to a single cross-section of option prices before. We propose a methodology that addresses this need. The proposed framework can be applied to a broad set of models and data. In the empirical part of the paper, we show by means of example, an application that uses a discrete time volatility model on S&P 500 European options. [less ▲]Detailed reference viewed: 98 (0 UL) Data Filtering Rules in Option ValuationBams, Dennis; Blanchard, Gildas; Lehnert, Thorsten E-print/Working paper (2018)The choice of data filtering rules are, next to model selection and parameter calibration, an important step in an option pricing exercise. We illustrate the implications of data filtering rules, by ... [more ▼]The choice of data filtering rules are, next to model selection and parameter calibration, an important step in an option pricing exercise. We illustrate the implications of data filtering rules, by investigating three alternative renowned filtering rules in the context of pricing European S&P 500 index options. Different filtering rules result in strongly diverging samples, which carry different information and therefore lead to different parameter estimates. This is illustrated for the Ad Hoc Black-Scholes model. No filtering rule is, in terms of pricing performance, superior on the whole range of options. Instead, each filtering rule is specialized toward better pricing of options types that were included in the calibration sample at the costs of excluded options. Included options are unable to perfectly represent the properties and characteristics of excluded options. In particular, option prices are heterogeneous in the maturity dimension, which is a major driving force underlying the impact of exclusion filters on pricing performance. Additionally, small deviations from the put-call parity strongly affect parameter estimates as well as the accompanying pricing performance. These results emphasize the prominent role of filtering rules as an important implicit choice for an option pricing model calibration. [less ▲]Detailed reference viewed: 50 (0 UL) Islamic Banking and Economic Growth: New EvidenceKchouri, Bilal ; Lehnert, Thorsten E-print/Working paper (2018)While extensive work has shown that conventional banking development is generally conducive to economic growth, there are only a limited number of studies that investigate the impact of Islamic banking ... [more ▼]While extensive work has shown that conventional banking development is generally conducive to economic growth, there are only a limited number of studies that investigate the impact of Islamic banking. Importantly, the literature on conventional banking claims that a reverse causality from economy performance to banking may exists, but existing studies on Islamic banking fail to address this potential endogeneity problem. This paper tackles this problem and explores the relationship between Islamic banking development and economic performance in a sample of 32 developed and developing countries based on data spanning the 2000 to 2016 period. The findings show that, although Islamic banks are considered small relative to the total size of the financial sector, Islamic banking is positively correlated with economic growth even after controlling for financial structure, macroeconomic factors and other variables. The outcome is robust across different econometric specifications like pooling OLS, fixed effects, panel data with over-identified GMM, and dynamic difference GMM. The results are confirmed on two different indicators of Islamic banking and hold for different time periods. [less ▲]Detailed reference viewed: 210 (11 UL) Frühstückgewohnheiten / Habitudes du petit déjeunerResidori, Caroline ; van Duin, Claire ; Kern, Matthias Robert et alE-print/Working paper (2018)In der HBSC-Studie 2014 wurden die Schüler gefragt, ob sie an allen Schultagen frühstücken. Tägliches Frühstücken nimmt mit dem Alter ab: Während im Alter von 11-12 rund zwei Drittel der Schüler täglich ... [more ▼]In der HBSC-Studie 2014 wurden die Schüler gefragt, ob sie an allen Schultagen frühstücken. Tägliches Frühstücken nimmt mit dem Alter ab: Während im Alter von 11-12 rund zwei Drittel der Schüler täglich frühstücken, sind es weniger als die Hälfte der Schüler im Alter von 17-18. Im Alter von 11-16 ist tägliches Frühstücken bei Jungen häufiger verbreitet als bei Mädchen, in der Altersgruppe 17-18 gibt es keine Unterschiede. Die befragten Schüler frühstücken umso eher täglich, je höher der Wohlstand der Familie ist, in der sie aufwachsen. Tägliches Frühstücken ist bei Schülern im Fondamental häufiger verbreitet als bei Schülern an Sekundarschulen. Innerhalb der Sekundarschulen ist tägliches Frühstücken am weitesten verbreitet im Enseignement secondaire und am seltensten im Modulaire. [less ▲]Detailed reference viewed: 100 (14 UL) "Was hältst du zurzeit von der Schule?" / « Actuellement que penses-tu de l’école? »van Duin, Claire ; Heinz, Andreas ; Kern, Matthias Robert et alE-print/Working paper (2018)Die Schule ist ein wichtiger Ort der Sozialisation, an dem die Schüler viel Zeit verbringen. Positive Erfahrungen mit der Schule können die soziale und gesundheitliche Entwicklung der Schüler fördern ... [more ▼]Die Schule ist ein wichtiger Ort der Sozialisation, an dem die Schüler viel Zeit verbringen. Positive Erfahrungen mit der Schule können die soziale und gesundheitliche Entwicklung der Schüler fördern, negative Erfahrungen können die Entwicklung beeinträchtigen. Daher wurde in der HBSC-Studie 2014 gefragt, wie sehr die Schüler ihre Schule mögen. Von den 11-12-Jährigen mögen 30 % die Schule sehr, weitere 52 % mögen sie einigermaßen. In der Gruppe der 15-16-Jährigen mögen 11 % die Schule sehr und 15 % mögen sie überhaupt nicht. Dementsprechend mögen Schüler des Fondamental ihre Schule eher als Schüler an Sekundarschulen. Zwischen den Schultypen Secondaire, Secondaire technique und Modulaire gibt es hingegen kaum Unterschiede. Je mehr sich Schüler durch die Schularbeit gestresst fühlen, desto eher mögen sie die Schule nicht. Sie mögen sie auch dann eher nicht, wenn sie vermuten, dass ihre Lehrer sie für leistungsschwach halten. Je weniger die Schüler ihre Schule mögen, desto mehr Gesundheitsbeschwerden berichten sie. [less ▲]Detailed reference viewed: 99 (8 UL) 1 2 3 4