References of "E-prints/Working papers"
     in
Bookmark and Share    
Full Text
See detailKrichever-Novikov type algebras. An Introduction
Schlichenmaier, Martin UL

E-print/Working paper (2014)

Krichever--Novikov type algebras are generalizations of the Witt, Virasoro, affine Lie algebras, and their relatives to Riemann surfaces of arbitrary genus. We give the most important results about their ... [more ▼]

Krichever--Novikov type algebras are generalizations of the Witt, Virasoro, affine Lie algebras, and their relatives to Riemann surfaces of arbitrary genus. We give the most important results about their structure, almost-grading and central extensions. This contribution is based on a sequence of introductory lectures delivered by the author at the Southeast Lie Theory Workshop 2012 in Charleston, U.S.A. [less ▲]

Detailed reference viewed: 70 (3 UL)
Full Text
See detailThe effects of a multi-pillar pension reform: The case of Peru
Olivera Angulo, Javier UL

E-print/Working paper (2014)

In this paper we study the consequences of a hypothetical multi-pillar pension system in Peru. We use unique administrative records of workers to estimate distributions of future pensions for the actual ... [more ▼]

In this paper we study the consequences of a hypothetical multi-pillar pension system in Peru. We use unique administrative records of workers to estimate distributions of future pensions for the actual and multi-pillar system and assess the effects on pension inequality, pension liability and overall welfare for the insured population. Our results show that the large pension inequality and liability of the actual pension system can be substantially reduced with welfare preserving policies. As we consider different types of social welfare functions, our simulations illustrate, that when one considers welfare, it is important to define the implied value judgments, which are not universally agreed upon. Thus, the goal of this study is not to advice for a particular scenario of reform, but highlight the trade-offs that have to be made explicit in order to take the best possible option, which can be useful for policy-makers who intend to carry out a next generation of pension reforms in Latin America in the near future. [less ▲]

Detailed reference viewed: 87 (3 UL)
Full Text
Peer Reviewed
See detailHow Do Migrants Save? Evidence from the British Household Panel Survey on Temporary and Permanent Migrants versus Natives
Joxhe, Majlinda UL; De Arcangelis, Giuseppe

E-print/Working paper (2014)

Detailed reference viewed: 117 (2 UL)
Full Text
See detailThe C*-algebras of connected real two-step nilpotent Lie groups
Günther, Janne-Kathrin UL; Ludwig, Jean

E-print/Working paper (2014)

Using the operator valued Fourier transform, the C*-algebras of connected real two-step nilpotent Lie groups are characterized as algebras of operator fields defined over their spectra. In particular, it ... [more ▼]

Using the operator valued Fourier transform, the C*-algebras of connected real two-step nilpotent Lie groups are characterized as algebras of operator fields defined over their spectra. In particular, it is shown by explicit computations, that the Fourier transform of such C*-algebras fulfills the norm controlled dual limit property. [less ▲]

Detailed reference viewed: 71 (8 UL)
Full Text
See detailRegards sur les cambriolages
Bodson, Lucile; Reichmann, Liliane; Heinz, Andreas UL et al

E-print/Working paper (2014)

Au cours des 5 dernières années, 10% des ménages ont fait l’objet d’un cambriolage. À ceux-là s’ajoute un autre 5% qui n’a pas fait l’objet d’un cambriolage mais d’une tentative infructueuse de ... [more ▼]

Au cours des 5 dernières années, 10% des ménages ont fait l’objet d’un cambriolage. À ceux-là s’ajoute un autre 5% qui n’a pas fait l’objet d’un cambriolage mais d’une tentative infructueuse de cambriolage. La peur d’être cambriolé est présente : 34% de la population résidente pense pouvoir faire l’objet d’un cambriolage au cours des 12 prochains mois. Qui sont ces personnes ? Où vivent-elles ? Voici deux questions auxquelles nous donnerons des éléments de réponse grâce à l’enquête sur la sécurité de 2013. Le travail d’intérêt général est, aux yeux de la population, la peine la mieux adaptée pour un cambrioleur récidiviste. La peine de prison ferme est deux fois moins plébiscitée. Mais les avis divergent un peu, entre autres, selon la génération et la nationalité. [less ▲]

Detailed reference viewed: 132 (7 UL)
Full Text
See detailStudy of formality for the Heisenberg algebra
Elchinger, Olivier UL

E-print/Working paper (2014)

In this paper, we compute the Chevalley-Eilenberg cohomology of the three-dimensional Heisenberg Lie algebra with values in its universal enveloping algebra. We also compute the Schouten brackets on ... [more ▼]

In this paper, we compute the Chevalley-Eilenberg cohomology of the three-dimensional Heisenberg Lie algebra with values in its universal enveloping algebra. We also compute the Schouten brackets on cochains and cohomology level in order to write the formality equations. It turns out that there is no formality, and that the perturbed L∞ structure on the cohomology has non-trivial terms in infinitely many degrees. [less ▲]

Detailed reference viewed: 70 (11 UL)
Full Text
See detailO cérebro multilingue
Engel de Abreu, Pascale UL

E-print/Working paper (2014)

Detailed reference viewed: 163 (6 UL)
Full Text
See detailSustainability Research and Interactive Knowledge Generation
JUNG ép. PRELLER, Bérénice UL; Affolderbach, Julia UL; Schulz, Christian UL et al

E-print/Working paper (2014)

Based on experiences from the GreenRegio research project that investigates framework conditions for innovations in sustainable/green building, this working paper explores the potential of interactive and ... [more ▼]

Based on experiences from the GreenRegio research project that investigates framework conditions for innovations in sustainable/green building, this working paper explores the potential of interactive and collaborative methods for knowledge generation and co-production. Engagement with local practi-tioners, private industry, academics, political decision-makers and representatives of the non-profit sector early on in the research process allows researchers to gain better understanding of the re-search object and context. It also creates a platform for (mutual) knowledge exchange. Methodologi-cally, the project incorporates interactive workshops and Delphi-based feedback and validation rounds, that – over the lifespan of the project – offer a mutual learning process further inspired by in-sights and experiences across four case studies in Europe, Australia, and Canada. The exchange and learning processes provide important insights on different forms and pathways of sustainability transi-tions in the building sector to all participants involved in the project, researchers and researched alike. [less ▲]

Detailed reference viewed: 242 (7 UL)
Full Text
Peer Reviewed
See detailImproved Modular Multiplication for Optimal Prime Fields
Seo, Hwajeong; Liu, Zhe UL; Nogami, Yasuyuki et al

E-print/Working paper (2014)

Detailed reference viewed: 133 (2 UL)
Full Text
See detailRegards sur la protection des logements privés et la vidéo-surveillance publique
Heinz, Andreas UL; Steffgen, Georges UL; Reichmann, Liliane et al

E-print/Working paper (2014)

70% des résidents pensent que la vidéo-surveillance des lieux publics au Luxembourg augmente leur sécurité personnelle, 23% pensent qu’elle n’a pas d’impact et 3% sont même d’avis que la vidéosurveillance ... [more ▼]

70% des résidents pensent que la vidéo-surveillance des lieux publics au Luxembourg augmente leur sécurité personnelle, 23% pensent qu’elle n’a pas d’impact et 3% sont même d’avis que la vidéosurveillance diminue leur propre sécurité. Les personnes qui craignent d’être agressées physiquement ou qui sont inquiètes d‘être victimes d'une attaque terroriste, celles qui trouvent probable d’être victime d’un cambriolage ou d’un vol avec violence, celles qui ne se sentent pas en sécurité dans leur quartier de résidence et celles qui sont d’avis que la criminalité au Luxembourg a progressé au cours des dernières années, s’attendent plutôt à une augmentation de leur sécurité par les systèmes de surveillance sur certains lieux publics. Par contre les résidents qui effectivement ont été victimes d’un délit ou ceux qui sont confrontés à des problèmes de drogues dans leur quartier résidentiel, ont des doutes quant à l’efficacité de la vidéo-surveillance. Les jeunes sont les plus sceptiques. Par ailleurs, 27% des logements sont équipés d’un système d'alarme et 57% ont des portes de sécurité. On retrouve plus souvent ces deux mesures de sécurité dans les maisons unifamiliales que dans les maisons en rangée ou dans les appartements. En outre, la présence de systèmes d'alarme et de portes de sécurité est fortement liée au revenu du ménage. Quant à la possession d'armes à feu en tant que mesure de sécurité elle joue un rôle mineur : seulement 6% des répondants ont déclaré posséder des armes à feu et parmi eux un-tiers évoquent la prévention et la protection contre les crimes pour justifier la présence d’armes à feu chez eux. [less ▲]

Detailed reference viewed: 172 (9 UL)
Full Text
See detailThe free Courant algebroid
Jubin, Benoît Michel UL; Poncin, Norbert UL; Uchino, Kyousuke

E-print/Working paper (2014)

Detailed reference viewed: 116 (28 UL)
See detailMigration from West Africa, with special reference to Cape Verde and Guinea Bissau
Tavares, Bernardino UL; Juffermans, Kasper UL

E-print/Working paper (2014)

This is the first in a series of research briefs in the STAR project. STAR stands for “Sociolinguistic trajectories and repertoires: Luso-Luxo-African identifications, interactions and imaginations”, and ... [more ▼]

This is the first in a series of research briefs in the STAR project. STAR stands for “Sociolinguistic trajectories and repertoires: Luso-Luxo-African identifications, interactions and imaginations”, and is a 3-year CORE research project funded by FNR, Luxembourg. The multi-sited project, meant as contribution to the field of sociolinguistics of globalization, investigates language and migration between the global South (Cape Verde and Guinea Bissau) and North (Luxembourg) from the perspective of both accomplished and desired migrants. In this first research brief we review literature on flows of migration from West Africa. [less ▲]

Detailed reference viewed: 126 (14 UL)
Full Text
See detailThe Codimension-Three conjecture for holonomic DQ-modules
Petit, François UL

E-print/Working paper (2014)

We prove an analogue for holonomic DQ-modules of the codimension-three conjecture for microdifferential modules recently proved by Kashiwara and Vilonen. Our result states that any holonomic DQ-module ... [more ▼]

We prove an analogue for holonomic DQ-modules of the codimension-three conjecture for microdifferential modules recently proved by Kashiwara and Vilonen. Our result states that any holonomic DQ-module having a lattice extends uniquely beyond an analytic subset of codimension equal to or larger than three in a Lagrangian subvariety containing the support of the DQ-module. [less ▲]

Detailed reference viewed: 151 (1 UL)
Full Text
See detailCorruption, Tax Evasion and Social Values
Litina, Anastasia UL; Palivos, Theodore

E-print/Working paper (2014)

We provide empirical support and a theoretical explanation for the vicious circle of political corruption and tax evasion in which countries often fall into. We address this issue in the context of a ... [more ▼]

We provide empirical support and a theoretical explanation for the vicious circle of political corruption and tax evasion in which countries often fall into. We address this issue in the context of a model with two distinct groups of agents: citizens and politicians. Citizens decide the fraction of their income for which they evade taxes. Politicians decide the fraction of the public budget that they peculate. We show that multiple self-fulfilling equilibria with different levels of corruption can emerge based on the existence of strategic complementarities, indicating that corruption may corrupt. Furthermore, we find that standard deterrence policies cannot eliminate multiplicity. Instead, policies that impose a strong moral cost on tax evaders and corrupt politicians can lead to a unique equilibrium. [less ▲]

Detailed reference viewed: 143 (5 UL)
Full Text
See detailUrban Spatial Structure, Employment and Social Ties
Picard, Pierre M UL; Zenou, Yves

E-print/Working paper (2014)

We develop a model where workers both choose their residential location (geographical space) and social interactions (social space). In equilibrium, we show under which condition the majority group ... [more ▼]

We develop a model where workers both choose their residential location (geographical space) and social interactions (social space). In equilibrium, we show under which condition the majority group resides close to the job center while the minority group lives far away from it. Even though the two populations are ex ante totally identical, we find that the majority group experiences a lower unemployment rate than the minority group and tends to socially interact more with other workers of its own group. Within each group, we demonstrate that workers residing farther away from the job center tend to search less for a job and are less likely to be employed. This model is thus able to explain why ethnic minorities are segregated in the urban and social space and why this leads to adverse labor-market outcomes in the absence of any discrimination against the minority group. [less ▲]

Detailed reference viewed: 124 (10 UL)
Full Text
See detailReflections upon the Interaction between Domestic and European Personal Data Protection Legislation
Pelin Raducu, Ioana UL

E-print/Working paper (2014)

This paper assesses whether the European legislative reform on the protection of personal data, in conjunction with national law, responds in a satisfactory manner to the challenges posed by technological ... [more ▼]

This paper assesses whether the European legislative reform on the protection of personal data, in conjunction with national law, responds in a satisfactory manner to the challenges posed by technological evolution and widespread use of Internet. In recent years, the question of State regulation of the processing of personal data by private companies has become urgent as allegations of unauthorized access to personal data have been hotly debated in the European press. Thus, the paper shall first analyse, the appropriateness of European and States' legislation to properly regulate the effective protection of personal data, in particular of obligations applicable to companies storing and processing personal data on European soil. Does the proposed European legislation in the context of the EU's international agreements with the US provide sufficient legal safeguards to ensure the effective protection of personal data in the post-Snowden era? Specific subparts are devoted to the European reform of companies' criminal liability in cases of cyber-attack (a) and of specific obligations imposed on providers of cloud computing services (b). In the second part, I comment on the interpretation of the European data-protection legislation, provided by the Court of Justice, regarding the obligations imposed upon 'intermediaries' that process personal data, such as the Internet service providers (a) and Internet search engines (b). The Court of Justice has interpreted the European legislation in a manner that allows courts and national authorities to impose on companies a set of safeguards to protect individuals against the infringement of copyright and privacy rights. [less ▲]

Detailed reference viewed: 116 (4 UL)
Full Text
See detailRegards sur l'évaluation du travail de la police
Heinz, Andreas UL; Steffgen, Georges UL; de Puydt, Cécile et al

E-print/Working paper (2014)

86% de la population estiment que la Police Grand-Ducale réalise du « bon », voire du « très bon » travail. L’évaluation du travail de la police est ainsi légèrement meilleure que pour les tribunaux. En ... [more ▼]

86% de la population estiment que la Police Grand-Ducale réalise du « bon », voire du « très bon » travail. L’évaluation du travail de la police est ainsi légèrement meilleure que pour les tribunaux. En effet, concernant les tribunaux, 75% de la population trouvent qu’ils effectuent du « (très) bon » travail. Une différence existe dans l’appréciation du travail de la police chez les personnes victimes et non-victimes. Parmi les personnes qui n’ont été victimes d’aucun des 14 délits pris en compte par l’enquête au cours des 5 dernières années, 91% sont d’avis que la police fait du « (très) bon » travail. Les victimes, elles, sont 82% à partager cet avis. L’évaluation varie selon la nature et le lieu du délit dont les résidents ont été victimes. 88% des victimes d’un délit ayant eu lieu à l’étranger jugent comme « (très) bon » le travail policier. Ce chiffre descend à 79% pour les victimes de délits qui se sont produits sur le territoire national. Concernant la nature du délit, les victimes de délits sans violence ont une meilleure opinion du travail de la police que les victimes de délits avec violence (82% contre 71%). 89% des victimes qui ont rapporté le délit à la police et qui ont été « très satisfaits » par la manière dont leur affaire personnelle a été traitée pensent que le travail de la Police Grand-Ducale est « (très) bon ». Si par contre les victimes étaient « très insatisfaits » par le traitement de leur dossier, ils sont moins enclins (45%) à évaluer comme « (très) bon » le travail de la police. [less ▲]

Detailed reference viewed: 111 (8 UL)
Full Text
See detailA hybrid T-Trefftz polygonal finite element for linear elasticity
Bhattacharjee, Kalyan; Natarajan, Sundararajan; Bordas, Stéphane UL

E-print/Working paper (2014)

In this paper, we construct hybrid T-Trefftz polygonal finite elements. The displacement field within the polygon is repre- sented by the homogeneous solution to the governing differential equation, also ... [more ▼]

In this paper, we construct hybrid T-Trefftz polygonal finite elements. The displacement field within the polygon is repre- sented by the homogeneous solution to the governing differential equation, also called as the T-complete set. On the boundary of the polygon, a conforming displacement field is independently defined to enforce continuity of the displacements across the element boundary. An optimal number of T-complete functions are chosen based on the number of nodes of the polygon and degrees of freedom per node. The stiffness matrix is computed by the hybrid formulation with auxiliary displacement frame. Results from the numerical studies presented for a few benchmark problems in the context of linear elasticity shows that the proposed method yield highly accurate results. [less ▲]

Detailed reference viewed: 139 (3 UL)
Full Text
See detailSuccessful Ageing and Poverty: The case of Peru
Olivera Angulo, Javier UL; Tournier, Isabelle UL

E-print/Working paper (2014)

This study investigated the determinants of Successful Ageing (SA) in a sample of 4,151 Peruvians aged between 65 and 80 and living in poverty. The data correspond to the ESBAM survey, which is the ... [more ▼]

This study investigated the determinants of Successful Ageing (SA) in a sample of 4,151 Peruvians aged between 65 and 80 and living in poverty. The data correspond to the ESBAM survey, which is the baseline to evaluate the non-contributory public pension program Pension 65. A key contribution of this study is to combine the conceptual appealing of Successful Ageing to measure well-being in old-age with the multidimensional poverty counting approach developed in the economic literature. This setting allows for moving beyond the dichotomy of the SA literature (success or usual ageing) and take advantage of the full distribution of success along the set of dimensions of well-being. Nine indicators of SA have been used to assess the dimensions of physical health, functioning, cognition, emotional health, and life satisfaction. The variables associated with a higher number of satisfied indicators were being a male, younger, literate, working, low food insecurity, good nutritional status, normal blood pressure, absence of disabilities, not smoking, empowerment, good self-esteem, absence of mental disability, and less frequent contact with a social network. From a policy perspective, the results of this study report a remarkably stable effect of three variables affecting SA that can be relatively easy to measure, monitor and affect by public intervention. These variables are food security, nutrition quality, and self-esteem. [less ▲]

Detailed reference viewed: 300 (58 UL)
See detailGender Differences in Cognitive Abilities among the Elderly Poor of Peru
Olivera Angulo, Javier UL; Novella, Rafael

E-print/Working paper (2014)

This paper analyses gender differences on cognitive abilities for the elderly poor in Peru. We use a unique and recent survey for the elderly individuals living in poverty in Peru (ESBAM) that includes ... [more ▼]

This paper analyses gender differences on cognitive abilities for the elderly poor in Peru. We use a unique and recent survey for the elderly individuals living in poverty in Peru (ESBAM) that includes cognitive tests and a comprehensive set of socio-demographics and subjective and objective health measures. We find significant differences in mental intactness in favour of males, and in episodic memory in favour of females. In contrast, there are not gender differences in an overall measure of cognition, but regional differences appear to matter in favour of urban localities. The sizeable associations of education and childhood nutrition quality with cognition confirm the long-term impacts of early life developments on current outcomes. Therefore, policies aimed at improving early childhood development are expected to have a positive impact in later-life. [less ▲]

Detailed reference viewed: 139 (7 UL)
Full Text
See detailTowards Dialogue Games for the Down-Admissible and Up-Complete Procedures
Caminada, Martin; Booth, Richard UL

E-print/Working paper (2014)

Recently, two operators - the down-admissible and up-complete operators - have been proposed, in the context of aggregating argument labellings, for repairing a given initial labelling so that it becomes ... [more ▼]

Recently, two operators - the down-admissible and up-complete operators - have been proposed, in the context of aggregating argument labellings, for repairing a given initial labelling so that it becomes rational, in the sense that it respects the attack relation between the arguments. The purpose of this research note is to give some initial thoughts on defining dialogue games for each of them, as well as for their combination. [less ▲]

Detailed reference viewed: 68 (1 UL)
Full Text
See detailIrreducible decomposition for local representations of quantum Teichmüller space
Toulisse, Jérémy UL

E-print/Working paper (2014)

We give an irreducible decomposition of the so-called local representations \cite{math/0407086} of the quantum Teichmüller space $\mathcal{T}_q(\Sigma)$ where $\Sigma$ is a punctured surface of genus $g>0 ... [more ▼]

We give an irreducible decomposition of the so-called local representations \cite{math/0407086} of the quantum Teichmüller space $\mathcal{T}_q(\Sigma)$ where $\Sigma$ is a punctured surface of genus $g>0$ and $q$ is a $N$-th root of unity with $N$ odd. [less ▲]

Detailed reference viewed: 109 (3 UL)
Full Text
See detailControlling the controllers: the institutional design of Europe’s new Single Supervisory Mechanism
Gren, Jakub UL

E-print/Working paper (2014)

This paper examines the institutional design of the Single Supervisory Mechanism and views the relation between the European Central Bank (ECB) and the National Competent Authorities (NCAs) as a principal ... [more ▼]

This paper examines the institutional design of the Single Supervisory Mechanism and views the relation between the European Central Bank (ECB) and the National Competent Authorities (NCAs) as a principal-agent relation in which the NCAs are carrying out supervision of the less significant banks on behalf of the ECB. From a principal-agent perspective, the institutional design is understood as the art of choosing proper ex ante and ex post mechanisms of control by the ECB over the activities of the NCAs. Therefore, the focus of the paper directed on (1) identifying the proper control mechanisms consisting of the ‘ex-ante’ and the ‘ex-post’ controls, as suggested by the principal-agent model, which the ECB’s may use to ensure that its policy preferences are enforced by the NCAs within the SSM and (2) assess whether they may possibly cover all of the NCAs ‘zone of discretion’ relating to supervision of less significant banks on the ECB’s behalf. The working hypothesis is that the NCAs zone of discretion may not be fully controlled by the ECB. It is argued that existence of such ‘black holes’ constitute challenges for the ECB to ensure its policy preferences are enforced in a full extent by the NCAs. [less ▲]

Detailed reference viewed: 157 (12 UL)
Full Text
See detailThe Welfare State and Anti-Poverty Policy in Rich Countries
Olivera Angulo, Javier UL; Marx, Ive; Nolan, Brian

E-print/Working paper (2014)

This paper is prepared as a chapter for the Handbook of Income Distribution, Volume 2 (edited by A. B. Atkinson and F. Bourguignon, Elsevier-North Holland, forthcoming). Like the other chapters in the ... [more ▼]

This paper is prepared as a chapter for the Handbook of Income Distribution, Volume 2 (edited by A. B. Atkinson and F. Bourguignon, Elsevier-North Holland, forthcoming). Like the other chapters in the volume (and its predecessor), the aim is to provide a comprehensive review of a particular area of research. The aim of this chapter is to highlight some key aspects of recent economic research on the welfare state and anti-poverty policy in rich countries, and explore their implications. We begin with the conceptualisation and measurement of poverty, before sketching out some core features and approaches to the welfare state and anti-poverty policies. We then focus on the central plank of the modern welfare state’s efforts to address poverty, namely social protection, discussing in turn the inactive working-age population, child income support, in-work poverty, and retirement and old-age pensions. After that we discuss social spending on other than cash transfers: the labour market, education, training and activation, and finally intergenerational transmission, childhood and neighbourhoods. We also discuss the welfare state and anti-poverty policy in the context of the economic crisis which began in 2007-8, and the implications for strategies aimed at combining economic growth and employment with making serious inroads into poverty. We conclude with highlighting directions for future research. [less ▲]

Detailed reference viewed: 143 (9 UL)
Full Text
See detailIs a Policy of Free Movement of Workers Sustainable?
Picard, Pierre M UL; Worrall, Tim

E-print/Working paper (2014)

This paper studies the costs and benefits of the adoption of the policy of free movement for workers. For the countries to agree on uncontrolled movement of workers, the short run costs must be outweighed ... [more ▼]

This paper studies the costs and benefits of the adoption of the policy of free movement for workers. For the countries to agree on uncontrolled movement of workers, the short run costs must be outweighed by the long term benefits that result from better labor market flexibility and income smoothing. We show that such policies are less likely to be adopted when workers are impatient and less risk averse workers, when production technologies display decreasing returns and when countries trade a share of their products. [less ▲]

Detailed reference viewed: 127 (17 UL)
See detailMigration: a burden or a blessing for the natives
Gabszewicz, Jean; Zanaj, Skerdilajda UL

E-print/Working paper (2014)

Detailed reference viewed: 63 (6 UL)
Peer Reviewed
See detailDynamic Hedging and Extreme Asset Co-movements
Stefanova, Denitsa UL; Elkamhi, Redouane

E-print/Working paper (2014)

Detailed reference viewed: 145 (6 UL)
See detailMental Retirement and Non-Contributory Pensions for the Elderly Poor in Peru
Olivera Angulo, Javier UL; Novella, Rafael

E-print/Working paper (2014)

This paper analyses the effects of retirement on cognitive abilities for the elderly poor on the basis of the “mental retirement” effect that accompanies retirement. Given the recent emergence and ... [more ▼]

This paper analyses the effects of retirement on cognitive abilities for the elderly poor on the basis of the “mental retirement” effect that accompanies retirement. Given the recent emergence and expansion of non-contributory pension programs to alleviate poverty in old-age across low and middle income countries, attention should be pay to the potential acceleration of cognitive decline when individuals retire, i.e. when there is a decrease in their engagement on cognitive demanding activities. We use a unique and recent survey of the poor elderly in Peru (ESBAM) which includes a cognitive test and serves as the baseline for a non-contributory pension program. We find a significant negative effect of retirement on cognitive ability after controlling for a number of demographics and objective health measures, and even after applying instrumental variables to deal with the potential endogeneity of retirement. [less ▲]

Detailed reference viewed: 126 (8 UL)
Full Text
See detailIrregular holonomic kernels and Laplace transform
Kashiwara, Masaki; Schapira, Pierre UL

E-print/Working paper (2014)

Detailed reference viewed: 107 (6 UL)
Full Text
See detailHedge Fund Return Dynamics: long memory and regime switching
LIMAM, mohamed-Ali; Terraza, Virginie UL

E-print/Working paper (2014)

This paper investigates the dynamics of hedge fund returns and their behavior of persistence in a unified framework through the Markov Switching ARFIMA model of Härdle and Tsay (2009). Major results based ... [more ▼]

This paper investigates the dynamics of hedge fund returns and their behavior of persistence in a unified framework through the Markov Switching ARFIMA model of Härdle and Tsay (2009). Major results based on the CSFB/Tremont hedge fund indexes monthly data during the period 1994-2012, highlight the importance of the long memory parameter magnitude i.e shocks in shaping hedge fund return dynamics and show that the hedge fund dynamics are characterized by two levels of persistence: in the first one, associated to low-volatility regime, hedge fund returns are a stationary long memory process whereas in the second one, associated to high-volatility regime, returns exhibit higher parameter of fractional integration. More precisely, in high volatility regime i.e periods of turmoil, the process tends to be non-stationary but still exhibits a mean-reverting behavior. The findings are interesting and enable us to establish a relationship between hedge fund return states and memory phenomenon. [less ▲]

Detailed reference viewed: 204 (6 UL)
See detailUniversal plane curve and moduli spaces of 1-dimensional coherent sheaves
Iena, Oleksandr UL

E-print/Working paper (2014)

We show that the universal plane curve M of fixed degree d > 2 can be seen as a closed subvariety in a certain Simpson moduli space of 1-dimensional sheaves on a projective plane contained in the stable ... [more ▼]

We show that the universal plane curve M of fixed degree d > 2 can be seen as a closed subvariety in a certain Simpson moduli space of 1-dimensional sheaves on a projective plane contained in the stable locus. The universal singular locus coincides with the subvariety of M consisting of sheaves that are not locally free on their support. It turns out that the blow up of M along M' may be naturally seen as a compactification of M_B = M\M' by vector bundles (on support). [less ▲]

Detailed reference viewed: 97 (4 UL)
Full Text
See detailOn the equivalence between the cell-based smoothed finite element method and the virtual element method
Natarajan, Sundararajan; Bordas, Stéphane UL; Ean Tat, Ooi

E-print/Working paper (2014)

We revisit the cell-based smoothed finite element method (SFEM) for quadrilateral elements and extend it to arbitrary polygons and polyhedrons in 2D and 3D, respectively. We highlight the similarity ... [more ▼]

We revisit the cell-based smoothed finite element method (SFEM) for quadrilateral elements and extend it to arbitrary polygons and polyhedrons in 2D and 3D, respectively. We highlight the similarity between the SFEM and the virtual element method (VEM). Based on the VEM, we propose a new stabilization approach to the SFEM when applied to arbitrary polygons and polyhedrons. The accuracy and the convergence properties of the SFEM are studied with a few benchmark problems in 2D and 3D linear elasticity. Later, the SFEMis combined with the scaled boundary finite element method to problems involving singularity within the framework of the linear elastic fracture mechanics in 2D. [less ▲]

Detailed reference viewed: 448 (10 UL)
Full Text
See detailGreen Consumers, Greenwashing and the Misperception of Environmental Quality
Tampieri, Alessandro UL; Pignataro, Giuseppe; Lambertini, Luca

E-print/Working paper (2014)

Detailed reference viewed: 101 (5 UL)
Full Text
See detailALIA rejects plans for new radio station
Cole, Mark UL; Metzdorf, Jenny

E-print/Working paper (2014)

Detailed reference viewed: 55 (0 UL)
Full Text
See detailRatification of the Council of Europe Convention on Cybercrime
Cole, Mark UL; Metzdorf, Jenny

E-print/Working paper (2014)

Detailed reference viewed: 107 (1 UL)
Full Text
Peer Reviewed
See detailRisk and Expected Returns of Private Equity Investments: Evidence Based on Market Prices
Kräussl, Roman UL; Jegadeesh, Jegadeesh; Pollet, Joshua M.

E-print/Working paper (2014)

Detailed reference viewed: 132 (0 UL)
Full Text
Peer Reviewed
See detailAutomorphisms and reduction of Heegner points on Shimura curves at Cerednik-Drinfeld primes
Molina Blanco, Santiago UL; Rotger, Victor

E-print/Working paper (2014)

Detailed reference viewed: 113 (6 UL)
Full Text
See detailSpectral Sequence Motif Discovery
Colombo, Nicolo UL; Vlassis, Nikos UL

E-print/Working paper (2014)

Sequence discovery tools play a central role in several fields of computational biology. In the framework of Transcription Factor binding studies, motif finding algorithms of increasingly high performance ... [more ▼]

Sequence discovery tools play a central role in several fields of computational biology. In the framework of Transcription Factor binding studies, motif finding algorithms of increasingly high performance are required to process the big datasets produced by new high-throughput sequencing technologies. Most existing algorithms are computationally demanding and often cannot support the large size of new experimental data. We present a new motif discovery algorithm that is built on a recent machine learning technique, referred to as Method of Moments. Based on spectral decompositions, this method is robust under model misspecification and is not prone to locally optimal solutions. We obtain an algorithm that is extremely fast and designed for the analysis of big sequencing data. In a few minutes, we can process datasets of hundreds of thousand sequences and extract motif profiles that match those computed by various state-of-the-art algorithms. [less ▲]

Detailed reference viewed: 70 (3 UL)
Full Text
Peer Reviewed
See detailNews Media Sentiment and Investor Behavior
Kräussl, Roman UL; Mirgorodskaya, Elizaveta

E-print/Working paper (2014)

Detailed reference viewed: 24 (0 UL)
Peer Reviewed
See detailThe ‘Franco-German duo’ and Europe as seen in cartoons (1945–2013)
Gabellini, Marco UL; Mouton, Victoria UL

E-print/Working paper (2014)

The ePublication ‘The “Franco-German duo” and Europe as seen in cartoons (1945–2013)’ uses French and German press illustrations to explore the joint action of successive French Presidents and German ... [more ▼]

The ePublication ‘The “Franco-German duo” and Europe as seen in cartoons (1945–2013)’ uses French and German press illustrations to explore the joint action of successive French Presidents and German Chancellors as the driving force of European integration. The rapprochement that began in the early years after the Second World War between France and Germany, two countries that had been long-standing enemies, followed a unique path. The image of a ‘Franco-German duo’ and the pair’s actions have proved an unending source of inspiration for French and German Press cartoonists. It shows how they have experienced, perceived and illustrated this Franco-German partnership, which has continued to evolve during the turbulent history of European integration. This comparative analysis reflects the convergences and divergences within this unique pairing and demonstrates the ever-changing balance of power within the partnership. The cartoons also reveal the fact that there is often a discrepancy between official photos and the reality of the Franco-German relationship. Although the Franco-German duo and its ability to act for the organisation of Europe have at times proved fragile, with periods of tension but also of continuity, the relationship between the various West German Chancellors and French Presidents has made an often decisive contribution to the pursuit and revival of European integration. Over 400 cartoons published in the French and German press reflect the key moments in Franco-German relations and emphasise how this ‘marriage of convenience’ between two leaders has influenced the European integration process, illustrating both the successes and failures of the duo. The selected cartoons provide an often cheeky, sarcastic interpretation of the Franco-German duo, that special relationship, which, despite its periods of tension and crisis, has always bounced back and has often served as a driving force for European unification. The cartoons reflect the two leaders’ attitudes to the challenges of the European integration process, painting an often humorous but at times openly critical picture of this bilateral relationship. [less ▲]

Detailed reference viewed: 95 (16 UL)
Full Text
Peer Reviewed
See detailThe 2011 European Short Sale Ban: An Option Market Perspective
Kräussl, Roman UL

E-print/Working paper (2014)

Detailed reference viewed: 48 (3 UL)
Full Text
See detailSymmetric n-ary superalgebras with skew-symmetric invariant forms
Vishnyakova, Elizaveta UL

E-print/Working paper (2014)

Detailed reference viewed: 40 (0 UL)
Full Text
Peer Reviewed
See detailLa tutela dei diritti umani tra azione esterna dell’Unione europea e politiche interne degli Stati membri: medici, curate vos ipsos
Gatti, Mauro UL

E-print/Working paper (2014)

Il Consiglio dell’Unione europea ha recentemente adottato delle Conclusioni sulla coerenza fra aspetti esterni ed interni della protezione e promozione dei diritti umani nell’Unione europea. Tale ... [more ▼]

Il Consiglio dell’Unione europea ha recentemente adottato delle Conclusioni sulla coerenza fra aspetti esterni ed interni della protezione e promozione dei diritti umani nell’Unione europea. Tale strumento attira l’attenzione su un problema cruciale: l’Unione promuove da anni il rispetto di taluni diritti umani che i suoi stessi membri non sembrano proteggere, o che interpretano in modo difforme. Tale contraddizione è difficile da giustificare sul piano teorico ed è pericolosa su quello pratico, dato che pregiudica la credibilità dell’Unione sulla scena internazionale. Per risolvere questo problema, sarebbe opportuno che gli Stati membri inizino ad applicare in Europa le stesse regole che intendono diffondere nel mondo. [less ▲]

Detailed reference viewed: 58 (0 UL)
Full Text
Peer Reviewed
See detailEuropean integration and consensus politics in the Low Countries Observations on an under-researched relationship
Beyers, Jan; Vollaard, Hans; Dumont, Patrick UL

E-print/Working paper (2014)

The Netherlands, Belgium and Luxembourg are well-known cases of consensus politics. Traditionally, decision-making in the Low Countries has been characterized by broad involvement, power sharing and ... [more ▼]

The Netherlands, Belgium and Luxembourg are well-known cases of consensus politics. Traditionally, decision-making in the Low Countries has been characterized by broad involvement, power sharing and making compromises. These countries were also founding member states of the European Union (EU) and its predecessors. However, the relationship between European integration and the tradition of domestic consensus politics remains unclear. In order to explore this relationship this paper presents the conceptual framework and a short summary of the recently published book European Integration and Consensus Politics in the Low Countries (edited by Hans Vollaard, Jan Beyers and Patrick Dumont; Routledge). The authors discuss how consensus politics would shape the impact of European integration. They also analyse whether European integration may undermine the fundamental characteristics of consensus politics in the Low Countries. Drawing on consociationalism and Europeanization research, they provide a comprehensive overview of Europeanization in the three Low Countries as well as a better understanding of the varieties of consensus politics across and within these countries. In doing this they refer to a wide range of in-depth studies on a variety of political actors such as governments, parliaments, political parties, courts, ministries and interest groups as well as key policy issues such as the ratification of EU treaties and migration policy. Their most important observation is that European integration has changed the substance of consensus politics in some policy-areas, but barely the domestic political practice itself. [less ▲]

Detailed reference viewed: 67 (4 UL)
Full Text
See detailLe tourisme dans la Grande Région SaarLorLux
Wöltering, Florian; Caruso, Geoffrey UL; Helfer, Malte UL et al

E-print/Working paper (2014)

The tourism structure of the Greater Region is very heterogeneous and cannot be referred to a single common destination. Rather, it consists of different destinations, which are presented in this article ... [more ▼]

The tourism structure of the Greater Region is very heterogeneous and cannot be referred to a single common destination. Rather, it consists of different destinations, which are presented in this article, regardless of borders and oriented exclusively according to geographical data. The map shows the number of tourist nights in the tourism regions according to the different types of accommodation in 2007. The presentation of the tourism intensity (overnight stays per 1,000 inhabitants) explains the relative weight of tourism in the different regions. [less ▲]

Detailed reference viewed: 38 (0 UL)
Full Text
See detailOn capital stocks related to reciprocal shareholdings
Petritz, Erika; Schwaiger, Jens; Tomaschek, Jörg UL

E-print/Working paper (2014)

Detailed reference viewed: 81 (4 UL)
Full Text
See detailCSR in an Asymmetric Duopoly with Environmental Externalities
Tampieri, Alessandro UL; Lambertini, Luca; Palestini, Arsen

E-print/Working paper (2014)

Detailed reference viewed: 103 (4 UL)
Full Text
See detailAsymptotic normality of randomized periodogram for estimating quadratic variation in mixed Brownian-fractional Brownian model
Azmoodeh, Ehsan UL; Sottinen, Tommi; Viitasaari, Lauri

E-print/Working paper (2014)

We study asymptotic normality of the randomized periodogram estimator of quadratic variation in the mixed Brownian--fractional Brownian model. In the semimartingale case, that is, where the Hurst ... [more ▼]

We study asymptotic normality of the randomized periodogram estimator of quadratic variation in the mixed Brownian--fractional Brownian model. In the semimartingale case, that is, where the Hurst parameter H of the fractional part satisfies H∈(3/4,1), the central limit theorem holds. In the nonsemimartingale case, that is, where H∈(1/2,3/4], the convergence toward the normal distribution with a nonzero mean still holds if H=3/4, whereas for the other values, that is, H∈(1/2,3/4), the central convergence does not take place. We also provide Berry--Esseen estimates for the estimator. [less ▲]

Detailed reference viewed: 97 (0 UL)
Full Text
See detailLarge Deviation asymptotics for the exit from a domain of the bridge of a general Diffusion
Baldi, Paolo; Caramellino, Lucia; Rossi, Maurizia UL

E-print/Working paper (2014)

Detailed reference viewed: 47 (3 UL)
Full Text
See detailDie Bevölkerung der Großregion SaarLorLux
Interregionale Arbeitsmarktbeobachtungsstelle, IBA; Pauly, Michel UL; Caruso, Geoffrey UL et al

E-print/Working paper (2014)

This contribution is an excerpt from the report on the economic and social situation of the Greater Region 2013/2014 for the Economic and Social Committee of the Greater Region (IBA/OIE, 2014, pp. 3-10 ... [more ▼]

This contribution is an excerpt from the report on the economic and social situation of the Greater Region 2013/2014 for the Economic and Social Committee of the Greater Region (IBA/OIE, 2014, pp. 3-10). The maps show the population density in the Greater Region as of 1 January 2013, the working-age population as of 1 January 2012 and the population development from 2000 to 2013 (Lorraine: zones d'emploi 1999-2011), calculated by the Interregional Labour Market Observatory IBA. The population density of the Greater Region in 2013 was almost 175 inhabitants per square kilometre, although the distribution varies widely from regionally: from more than 2,000 inhabitants per square kilometre in Mainz and Ludwigshafen to the sparsely populated areas of Verdun and Commercy with less than 30 inhabitants per square kilometre. This is where important economic priorities lie and influences from the large conurbations of neighboring federal states have an impact. Densely populated areas are also located in the northern part of Wallonia, particularly in the economic centres of Charleroi and Liège. In addition, the population of the Greater Region concentrates primarily on a transnational core area, which encompasses all sub-regions and important economic priorities. [less ▲]

Detailed reference viewed: 122 (3 UL)
See detailMalte : île-sentinelle de l’Union européenne
Lemaire, Léa UL

E-print/Working paper (2014)

Detailed reference viewed: 66 (0 UL)
See detailA Snap-Shot of WWI in 140 Signs – One Year On
Herzog, Mechthild UL

E-print/Working paper (2014)

Detailed reference viewed: 77 (3 UL)
Full Text
See detailLe cerveau multilingue
Engel de Abreu, Pascale UL

E-print/Working paper (2014)

«L’avantage cognitif» du multilinguisme, décrit le fait que les enfants multilingues accomplissent mieux des tâches cognitives dans le domaine des «fonctions exécutives» que les enfants qui ne parlent ... [more ▼]

«L’avantage cognitif» du multilinguisme, décrit le fait que les enfants multilingues accomplissent mieux des tâches cognitives dans le domaine des «fonctions exécutives» que les enfants qui ne parlent qu’une seule langue. [less ▲]

Detailed reference viewed: 505 (22 UL)
See detailGlobal competition for attracting talents and the world economy
Machado Carneiro, Joël UL; Docquier, Frédéric

E-print/Working paper (2014)

Detailed reference viewed: 94 (0 UL)
See detailREVENU, POPULATION ET FLUX MIGRATOIRES AU 21ème SIÈCLE: UN DÉFI SOCIÉTAL POUR L’ EUROPE
Machado Carneiro, Joël UL; Docquier, Frédéric

E-print/Working paper (2014)

Detailed reference viewed: 42 (1 UL)
Full Text
See detailLes modifications territoriales dans la Grande Région SaarLorLux du Congrès de Vienne à aujourd hui
Back, Claude; Helfer, Malte UL; Pauly, Michel UL et al

E-print/Working paper (2014)

The territorial changes of the Greater Region since 1815 are presented in ten maps. The timeline map shows the territorial situation in a defined year from 1815 onwards (if the map does not appear after a ... [more ▼]

The territorial changes of the Greater Region since 1815 are presented in ten maps. The timeline map shows the territorial situation in a defined year from 1815 onwards (if the map does not appear after a few seconds, it might be necessary to reload the page). After activating the timeline you can choose a year (set both controllers to the same year). In addition it is possible to let the map run through the time like a video. The map can be zoomed in and out, and you can access relevant information by clicking on a territory. [less ▲]

Detailed reference viewed: 22 (0 UL)
Full Text
See detailIntervals of the homomorphism order of graphs have infinite width
Lehtonen, Erkko; Schölzel, Karsten UL

E-print/Working paper (2014)

The homomorphism order of graphs is known to be dense with a single exception. We strengthen this result by showing that, with this single exception, the interval between any two distinct comparable ... [more ▼]

The homomorphism order of graphs is known to be dense with a single exception. We strengthen this result by showing that, with this single exception, the interval between any two distinct comparable graphs includes an infinite antichain. Moreover, every antichain included in such an interval can be extended into an infinite one within that interval. [less ▲]

Detailed reference viewed: 46 (3 UL)
Full Text
Peer Reviewed
See detailThe Macroeconomic Determinants of Mean Reversion and Financial Predictability
Mehra, Rajnish UL; Donaldson, John B.

E-print/Working paper (2014)

Detailed reference viewed: 45 (0 UL)
See detailSpecific Markov-switching behaviour for ARMA parameters
Carpantier, Jean-Francois UL; Dufays, Arnaud

E-print/Working paper (2014)

Change-point (CP) and Markov-switching (MS) Auto-regressive models have been intensively discussed over the last two decades due to their flexibility and their relatively simple estimations. Although CP ... [more ▼]

Change-point (CP) and Markov-switching (MS) Auto-regressive models have been intensively discussed over the last two decades due to their flexibility and their relatively simple estimations. Although CP- and MS-ARMA models constitute a natural extension, they have been barely studied. The main reason comes from that classical inference fails when estimating these models. In particular the CP- and MS-ARMA models exhibit path dependence problem that renders the likelihood out of reach. We propose an estimation method that circumvents the issue. Our MCMC algorithm resting on the sticky in.finite hidden Markov-switching model (sticky IHMM) self-determines the number of regimes as well as the specification : CP or MS. Furthermore, the CP and MS frameworks usually assume that all the model parameters vary from one regime to another. We relax this restrictive assumption. As illustrated by simulations realized on moderate samples (300 observations), the sticky IHMM-ARMA algorithm detects which parameters of the model change over regimes. Applications to the U.S. GDP growth and the DJIA realized volatility highlight this flexibility by estimating different structural breaks for the mean and the variance parameters. [less ▲]

Detailed reference viewed: 51 (4 UL)
Full Text
See detailCDS Contracts versus Put Options: A robust relationship?
Bekkour, Lamia UL; Lehnert, Thorsten UL; Desimone, Francisco Nadal et al

E-print/Working paper (2014)

Detailed reference viewed: 93 (8 UL)
Peer Reviewed
See detailForecasting Distress in European SME Portfolios
Ferreira Filipe, Sara UL; Grammatikos, Theoharry UL; Michala, Dimitra UL

E-print/Working paper (2014)

Detailed reference viewed: 168 (19 UL)
See detailThe Geographical Origins of Early State Formation
Litina, Anastasia UL

E-print/Working paper (2014)

his research theoretically and empirically advances the hypothesis that in early stages of development, land and climatic variability had a persistent beneficial effect on the advent of early statehood. A ... [more ▼]

his research theoretically and empirically advances the hypothesis that in early stages of development, land and climatic variability had a persistent beneficial effect on the advent of early statehood. A high degree of land and climatic diversity, and its association with potential gains from trade, accentuated the incentives to develop social, political and physical infrastructure that could facilitate interregional interaction. Hence, the emergence of states was expedited in more diverse geographical environments. To explore the hypotheses the analysis exploits exogenous sources of variation in a) the measure of land variability across countries, and b) climatic variability within countries over the period 500-1500 CE. The research establishes that i) the advent of statehood was expedited in regions characterized by a higher degree of variability in land and climatic conditions, ii) the effect of (land and climatic) variability on statehood operates partly through the advancement of technologies associated with trade, thus suggesting that it is the pivotal role of states in facilitating trade that ultimately contributed to their emergence and consolidation, and, iii) the effect of land variability on statehood dissipates over time [less ▲]

Detailed reference viewed: 33 (4 UL)
See detailNatural Land Productivity, Cooperation and Comparative Development
Litina, Anastasia UL

E-print/Working paper (2014)

ssion Paper Series 14-16, Center for Research in Economic Analysis, University of Luxembourg. Abstract: This research advances the hypothesis that natural land productivity in the past, and its effect on ... [more ▼]

ssion Paper Series 14-16, Center for Research in Economic Analysis, University of Luxembourg. Abstract: This research advances the hypothesis that natural land productivity in the past, and its effect on the desirable level of cooperation in the agricultural sector, had a persistent effect on the evolution of social capital, the process of industrialization and comparative economic development across the globe. Exploiting exogenous sources of variations in land productivity across a) countries; b) individuals within a country, and c) migrants of different ancestry within a country, the research establishes that lower level of land productivity in the past is associated with more intense cooperation and higher levels of contemporary social capital and development. [less ▲]

Detailed reference viewed: 112 (9 UL)
See detailGreat Expectations - The Persistent Effect of Institutions on Culture
Litina, Anastasia UL

E-print/Working paper (2014)

his research exploits the event of immigration to establish that institutions have a persistent effect on culture. It is argued that immigrants coming from corrupt countries, tend to overtrust the ... [more ▼]

his research exploits the event of immigration to establish that institutions have a persistent effect on culture. It is argued that immigrants coming from corrupt countries, tend to overtrust the institutions at the host country. This inflated trust of immigrants is documented as the Great Expectations effect. This result is interesting and intriguing for several reasons. First, it highlights the persistent effect of institutions (at the origin coun- try) on the cultural attitudes of immigrants. Interestingly, this effect is rather persistent and can be detected even to the second generation immigrants. Second, the analysis explores whether mean attitudes at the origin country have an effect on immigrants. attitude. The findings suggest that mean attitudes do not confer a statistically significant effect, whereas a horserace between origin institutions and origin culture suggests that it is the effect of institutions that prevails. Last, the analysis establishes that the inflated trust of immigrants affects their political attitudes. Immigrants coming from corrupt countries tend to be less interested in politics, to overtrust the host governments and to be less active in the political arena. In a globalized world where international immigration is rather extensive, pinning down the cultural differences across immigrants and thus the differences in their political attitudes is of an essence. [less ▲]

Detailed reference viewed: 42 (4 UL)
See detailNatural Land Productivity, Cooperation and Comparative Development
Litina, Anastasia UL

E-print/Working paper (2014)

This research advances the hypothesis that natural land productivity in the past, and its effect on the desirable level of cooperation in the agricultural sector, had a persistent effect on the evolution ... [more ▼]

This research advances the hypothesis that natural land productivity in the past, and its effect on the desirable level of cooperation in the agricultural sector, had a persistent effect on the evolution of social capital, the process of industrialization and comparative economic development across the globe. Exploiting exogenous sources of variations in land productivity across a) countries; b) individuals within a country, and c) migrants of different ancestry within a country, the research establishes that lower level of land productivity in the past is associated with more intense cooperation and higher levels of contemporary social capital and development. [less ▲]

Detailed reference viewed: 94 (6 UL)
Full Text
Peer Reviewed
See detailEmotions-at-Risk: An Experimental Investigation into Emotions, Option Prices and Risk Perception
Kräussl, Roman UL; Bosman, Ronald; van Galen, Thomas

E-print/Working paper (2014)

Detailed reference viewed: 71 (0 UL)
Full Text
Peer Reviewed
See detailSkewness Term Structure Tests
Lehnert, Thorsten UL; Lin, Yuehao UL

E-print/Working paper (2014)

Detailed reference viewed: 93 (5 UL)
Full Text
See detailTravailleurs frontaliers dans la Grande Région SaarLorLux (1998-2008)
Wille, Christian UL; Caruso, Geoffrey UL; Helfer, Malte UL et al

E-print/Working paper (2014)

With 201,785 cross-border employees, the Grande Région has a quarter of the cross-border workers in the 27 EU countries. 73% of cross-border commuters in the Grande Région work in Luxembourg, where they ... [more ▼]

With 201,785 cross-border employees, the Grande Région has a quarter of the cross-border workers in the 27 EU countries. 73% of cross-border commuters in the Grande Région work in Luxembourg, where they account for 44% of the local workforce - a trend that is still rising. Half of them come from France and about a quarter from Belgium or Germany. 14% of cross-border commuters in the Greater Region work in Wallonia, almost all of them from France. Finally, Saarland is the third largest employer of cross-border workers, with almost 10% of border workers in the Greater Region. Among the "French" workers coming to work in Saarland, however, there is a third of atypical cross-border workers, i.e. Germans who live in Lorraine and work in Saarland. [less ▲]

Detailed reference viewed: 25 (0 UL)
Full Text
See detailStochastic stability of endogenous growth: The AK case
Boucekkine, Raouf; Zou, Benteng UL

E-print/Working paper (2014)

This note studies the stochastic stability of the standard AK growth model un- der uncertain output technology. Capital accumulation follows a stochastic lin- ear homogenous differential equation. It’s ... [more ▼]

This note studies the stochastic stability of the standard AK growth model un- der uncertain output technology. Capital accumulation follows a stochastic lin- ear homogenous differential equation. It’s shown that exponential balanced paths, which characterize optimal trajectories in the absence of uncertainty, are not robust to uncertainty. Precisely, it’s demonstrated that the economy almost surely col- lapses at exponential speed even though productivity is initially arbitrarily high. [less ▲]

Detailed reference viewed: 50 (5 UL)
Full Text
See detailCournot Competition and "Green" Innovation: An Inverted-U Relationship
Tampieri, Alessandro UL; Lambertini, Luca; Poyago-Theotoky, Joanna

E-print/Working paper (2014)

Detailed reference viewed: 99 (2 UL)
Full Text
See detailA general approach to small deviation via concentration of measures
Azmoodeh, Ehsan UL; Viitasaari, Lauri

E-print/Working paper (2014)

Detailed reference viewed: 47 (0 UL)
Full Text
See detailAn inverse to the antisymmetrization map of Cartan and Eilenberg
Bordemann, Martin; Riviere, Salim UL

E-print/Working paper (2014)

Detailed reference viewed: 102 (7 UL)
Full Text
Peer Reviewed
See detailEvaluating Option Pricing Model Performance Using Model Uncertainty
Lehnert, Thorsten UL; Blanchard, Gildas; Bams, Dennis

E-print/Working paper (2014)

Detailed reference viewed: 43 (0 UL)
Full Text
Peer Reviewed
See detailSkewness Risk Premium: Theory and Empirical Evidence
Wolff, Christian UL; Lehnert, Thorsten UL; Lin, Yuehao UL

E-print/Working paper (2014)

Detailed reference viewed: 96 (1 UL)
Full Text
See detailDifferential Games with (A)symmetric Players and Heterogeneous Strategies
Zou, Benteng UL

E-print/Working paper (2014)

One family of heterogeneous strategies in differential games with (a)symmetric players is developed in which one player adopts an anticipating open-loop strategy and the other adopts a standard Markovian ... [more ▼]

One family of heterogeneous strategies in differential games with (a)symmetric players is developed in which one player adopts an anticipating open-loop strategy and the other adopts a standard Markovian strategy. Via conjecturing principle, the anticipating open-loop strategic player plans his strategy based on the possible updating the rival player may take. These asymmetric strategies frame nondegenerate Markovian Nash Equilibrium, which can be subgame perfect. Except the stationary path, this kind of strategy makes the study of short-run trajectory possible, which usually are not subgame perfect. However, the short-run nonperfection provides very important policy suggestions. [less ▲]

Detailed reference viewed: 107 (8 UL)
Full Text
See detailImmigration, occupational choice and public employment
Marchiori, Luca; Pieretti, Patrice UL; Zou, Benteng UL

E-print/Working paper (2014)

This paper investigates the theoretical effects of immigration in an occupational choice model with three sectors: a low-skilled, a high-skilled and a public sector. The originality of our approach is to ... [more ▼]

This paper investigates the theoretical effects of immigration in an occupational choice model with three sectors: a low-skilled, a high-skilled and a public sector. The originality of our approach is to consider (i) intersectoral mobility of labor and (ii) public employment. We highlight the fact that including a public sector is crucial, since omitting it implies that low-skilled immigration unambiguously reduces wages and welfare of all workers. However, when public employment is considered, we demonstrate that immigration increases wages in the high-skilled and the public sectors, provided that the immigrant workforce is not too large and the access to public jobs is not too easy. The average wage of natives may also increase accordingly. Moreover, immigration may improve workers’ welfare in each sector. Finally, the mechanism underlying these results does not require complementarity between natives and immigrants. [less ▲]

Detailed reference viewed: 112 (6 UL)
See detailReal Exchange Rates and Skills
Carpantier, Jean-Francois UL; Bodart, Vincent

E-print/Working paper (2014)

While most of the literature on the determination of real exchange rates is focused on the role of standard macroeconomic variables, there exists however a few papers that are more concerned by the impact ... [more ▼]

While most of the literature on the determination of real exchange rates is focused on the role of standard macroeconomic variables, there exists however a few papers that are more concerned by the impact of factors which are usually considered to play a key role in the process of economic development, like demography or inequality. In the present paper, we extend this small branch of the literature by exploring the relationship between labor skills and real exchange rates over the long-run. According to several theoretical arguments, the real exchange rate of countries experiencing an increase in the ratio between skilled and unskilled workers should appreciate. That is what we actually find empirically using panel regressions covering 22 countries over the period 1950-2010. The impact of skills on real exchange rates is robust to the inclusion of several control variables, like those used in traditional analyses of real exchange rates. The real exchange rate therefore appears as one channel through which increases in skills can alter economic growth. What we call a "skill disease" effect offers a new partial explanation to the weak link between human capital and GDP growth that is often found by the empirical literature. [less ▲]

Detailed reference viewed: 133 (5 UL)
Full Text
See detailUniversity Competition and Transnational Education: The Choice of Branch Campus
Tampieri, Alessandro UL; Poyago-Theotoky, Joanna

E-print/Working paper (2014)

Detailed reference viewed: 85 (4 UL)
Full Text
See detailSome insights on bicategories of fractions - III
Tommasini, Matteo UL

E-print/Working paper (2014)

We fix any bicategory A together with a class of morphisms W_A, such that there is a bicategory of fractions A[W_A^{-1}] (as described by D. Pronk). Given another such pair (B,W_B) and any pseudofunctor F ... [more ▼]

We fix any bicategory A together with a class of morphisms W_A, such that there is a bicategory of fractions A[W_A^{-1}] (as described by D. Pronk). Given another such pair (B,W_B) and any pseudofunctor F : A → B, we find necessary and sufficient conditions in order to have an induced equivalence of bicategories from A[W_A^{-1}] to B[W_B^{-1}]. In particular, this gives necessary and sufficient conditions in order to have an equivalence from any bicategory of fractions A[W_A^{-1}] to any given bicategory B. [less ▲]

Detailed reference viewed: 50 (0 UL)
Full Text
See detailSome insights on bicategories of fractions - II
Tommasini, Matteo UL

E-print/Working paper (2014)

We fix any bicategory A together with a class of morphisms W_A, such that there is a bicategory of fractions A[W_A^{-1}] (as described by D. Pronk). Given another such pair (B,W_B) and any pseudofunctor F ... [more ▼]

We fix any bicategory A together with a class of morphisms W_A, such that there is a bicategory of fractions A[W_A^{-1}] (as described by D. Pronk). Given another such pair (B,W_B) and any pseudofunctor F : A → B, we find necessary and sufficient conditions in order to have an induced pseudofunctor G : A[W_A^{-1}]→ B[W_B^{-1}]. Moreover, we give a simple description of G in the case when the class W_B is “right saturated”. [less ▲]

Detailed reference viewed: 31 (0 UL)
Full Text
See detailThe global economic crisis and the effect of immigration on the employment of native-born workers in Europe
Fromentin, vincent; Damette, Olivier; Zou, Benteng UL

E-print/Working paper (2014)

The debate regarding the economic effects of immigration has attracted renewed interest in European countries since the economic crisis. We provide an approximation for the labor market effects of ... [more ▼]

The debate regarding the economic effects of immigration has attracted renewed interest in European countries since the economic crisis. We provide an approximation for the labor market effects of immigrants in four European countries during the global economic crisis after briefly analyzing the situation of native- and foreign-born workers for the recent period. Our analysis focuses on the correlation between the stock of immigrant workers and the number of local labor market workers across several segments of the labor market using a simple model approach. Based on data from Eurostat and the LFS (Labour Force Survey), we estimate a structural dynamic model using the Generalized Method of Moments (GMM) to take into account the adjustment dynamics in the labor market and labor market segment, educational level, country of origin and gender of the workers. Overall, the empirical results suggest that the immigration shock on the employment rates of native-born workers is persistent and very weak over the business cycle. The effect is globally positive and the origin of immigrants does not appear to change the nature of the impact. We offer some explanations for these findings that are linked with the dual labor markets and the differences in the degree of substitution between native and immigrant workers. [less ▲]

Detailed reference viewed: 89 (4 UL)
Full Text
See detailForeign direct investment with endogenous technology choice
Dawid, Herbert; Zou, Benteng UL

E-print/Working paper (2014)

In this paper, we analyze optimal foreign direct investment of a firm which operates in a duopolistic market. We characterize a technology spillover threshold and show that for an intensity of spillovers ... [more ▼]

In this paper, we analyze optimal foreign direct investment of a firm which operates in a duopolistic market. We characterize a technology spillover threshold and show that for an intensity of spillovers below this threshold, there is a unique locally asymptotic stable steady state with a positive capital stock in the developing country. Furthermore, we characterize how optimal foreign investment patterns and the investor’s value function depend on the level of technology transferred and characterize the optimal level to be used for the foreign direct investment. [less ▲]

Detailed reference viewed: 86 (4 UL)
Full Text
See detailSome insights on bicategories of fractions – I
Tommasini, Matteo UL

E-print/Working paper (2014)

In this paper we investigate the construction of bicategories of fractions originally described by D. Pronk: given any bicategory C together with a suitable class of morphisms W, one can construct a ... [more ▼]

In this paper we investigate the construction of bicategories of fractions originally described by D. Pronk: given any bicategory C together with a suitable class of morphisms W, one can construct a bicategory C[W^{-1}], where all the morphisms of W are turned into internal equivalences, and that is universal with respect to this property. Most of the descriptions leading to such a construction were long and heavily based on the axiom of choice. In this paper we simplify considerably the constructions of associators, vertical and horizontal compositions in a bicategory of fractions, thus proving that the axiom of choice is not needed under certain conditions. The simplified description of associators and 2-compositions will also play a crucial role in the next papers of this series. [less ▲]

Detailed reference viewed: 57 (1 UL)
Full Text
See detailWeak fiber products in bicategories of fractions
Tommasini, Matteo UL

E-print/Working paper (2014)

We fix any pair (C,W) consisting of a bicategory and a class of morphisms in it, admitting a bicalculus of fractions, i.e. a “localization” of C with respect to the class W. In the resulting bicategory of ... [more ▼]

We fix any pair (C,W) consisting of a bicategory and a class of morphisms in it, admitting a bicalculus of fractions, i.e. a “localization” of C with respect to the class W. In the resulting bicategory of fractions, we identify necessary and sufficient conditions for the existence of weak fiber products. [less ▲]

Detailed reference viewed: 40 (1 UL)
See detailDissecting the Act of God: An Exploration of the effect of Religion on Economic Activity
Carpantier, Jean-Francois UL; Litina, Anastasia UL

E-print/Working paper (2014)

This research establishes that religiosity has a persistent effect on economic outcomes. First we use a sample of migrants in the US to establish that religiosity at the country of origin has a long ... [more ▼]

This research establishes that religiosity has a persistent effect on economic outcomes. First we use a sample of migrants in the US to establish that religiosity at the country of origin has a long lasting effect on the religiosity of migrants. Second, exploiting variations in the inherited component of religiosity of migrants, our analysis uncovers the causal effect of religiosity on economic activity using a panel of countries for the period 1935-2000. The empirical findings suggest that i) church attendance has a positive impact on economic outcomes; ii) religious beliefs in the existence of god, hell, heaven and miracles have no systematic effect on economic outcomes, and iii) stronger faith is associated with prosperity. Moreover we extend our analysis to uncover the channels via which religiosity operates. Notably, the positive effect of religious participation and of stronger faith on economic outcomes operates via the creation of social capital and the development of traits, such as hard work and thrift, that are conducive to growth. [less ▲]

Detailed reference viewed: 64 (7 UL)
Full Text
Peer Reviewed
See detailRipple Effects from Industry Defaults
Bams, Dennis; Pisa, Magdalena UL; Wolff, Christian UL

E-print/Working paper (2014)

Detailed reference viewed: 88 (3 UL)
See detailThe Evolving Beta-Liquidity Relationship of Hedge Funds
Siegmann, Arjen; Stefanova, Denitsa UL

E-print/Working paper (2014)

Using an optimal changepoint approach, we find a structural change in the relation between hedge funds’ stock market exposure and aggregate stock market liquidity that takes place in the period 2000 to ... [more ▼]

Using an optimal changepoint approach, we find a structural change in the relation between hedge funds’ stock market exposure and aggregate stock market liquidity that takes place in the period 2000 to 2002. Before the structural break, market betas have no relation to liquidity and only a few style categories of hedge funds show increased market presence when liquidity is low. After the break, the relationship is inverted, pointing towards an increased liquidity timing ability of hedge funds, as users of liquidity. We relate our findings to best execution rules and decimalization in the US stock market that were introduced in that period and impacted aggregate liquidity conditions. Furthermore, the returns to a momentum strategy display a similar structural break and momentum-loading funds constitute a sizeable proportion of hedge funds that manifest a distinct beta-liquidity evolution with a structural break in that period. [less ▲]

Detailed reference viewed: 110 (3 UL)
Full Text
Peer Reviewed
See detailStability and cooperative solution in stochastic games
Parilina, Elena; Tampieri, Alessandro UL

E-print/Working paper (2014)

Detailed reference viewed: 93 (3 UL)
Full Text
See detailD’méisproochegt Gehir
Engel de Abreu, Pascale UL

E-print/Working paper (2014)

Den „kognitive Virdeel“ vun der Méisproochegkeet besteet doranner, datt méisproocheg Kanner a bestëmmte kognitiven Aufgaben, déi déi sougenannten „Exekutivfunktioune“ moossen, besser si wéi Kanner, déi ... [more ▼]

Den „kognitive Virdeel“ vun der Méisproochegkeet besteet doranner, datt méisproocheg Kanner a bestëmmte kognitiven Aufgaben, déi déi sougenannten „Exekutivfunktioune“ moossen, besser si wéi Kanner, déi nëmmen eng Sprooch schwätzen. [less ▲]

Detailed reference viewed: 187 (11 UL)
See detailHedge Fund Innovation
Siegmann, Arjen; Stefanova, Denitsa UL; Zamojski, Marcin

E-print/Working paper (2014)

We study first-mover advantages in the hedge fund industry by clustering hedge funds based on the type of assets and instruments they trade in, sector and investment focus, and fund details. We find that ... [more ▼]

We study first-mover advantages in the hedge fund industry by clustering hedge funds based on the type of assets and instruments they trade in, sector and investment focus, and fund details. We find that early entry in a cluster is associated with higher excess returns, longer survival, higher incentive fees and lower management fees compared to funds that arrive later. Moreover, the latest entrants have a high loading on the returns of the innovators, but with lower incentive fees, and higher management fees. Cross-sectional regressions show that the out-performance of innovating funds are declining with age. The results are robust to different parameters of clustering and backfill-bias, and are not driven by the possible existence of flagship and follow-on funds. Our results show that the reported characteristics of hedge funds can be used to infer strategy-related information and suggest that specific first-mover advantages exist in the hedge fund industry. [less ▲]

Detailed reference viewed: 45 (2 UL)
Full Text
See detailZ_2^n-Supergeometry II: Batchelor-Gawedzki Theorem
Covolo, Tiffany UL; Grabowski, Janusz; Poncin, Norbert UL

E-print/Working paper (2014)

Detailed reference viewed: 122 (16 UL)
Full Text
See detailZ_2^n-Supergeometry I: Manifolds and Morphisms
Covolo, Tiffany UL; Grabowski, Janusz; Poncin, Norbert UL

E-print/Working paper (2014)

Detailed reference viewed: 334 (88 UL)
See detailThe cultural transmission of Environmental preferences: Evidence from International Migration
Zanaj, Skerdilajda UL; Litina, Anastasia UL; Moriconi, Simone

E-print/Working paper (2014)

Detailed reference viewed: 40 (6 UL)
See detailOffshore financial centres and bank secrecy
Zanaj, Skerdilajda UL; Pieretti, Patrice UL; Thisse, Jacques

E-print/Working paper (2014)

Detailed reference viewed: 92 (6 UL)
Full Text
Peer Reviewed
See detailXDEM - FEM Coupling Simulations of the Interactions between a Tire Tread and Granular Terrain
Michael, Mark UL; Vogel, Frank; Peters, Bernhard UL

E-print/Working paper (2014)

This study proposes an efficient combination of the Discrete Element Method (DEM) and the Finite Element Method (FEM) to study the tractive performance of a rubber tire in interaction with granular ... [more ▼]

This study proposes an efficient combination of the Discrete Element Method (DEM) and the Finite Element Method (FEM) to study the tractive performance of a rubber tire in interaction with granular terrain. The presented approach is relevant to all engineering devices interacting with granular matter which causes response forces. Herein, the extended discrete element method (XDEM) is used to describe the dynamics of the granular assembly. On the one hand, the discrete approach accounts for the motion and forces of each grain individually. On the other hand, the finite element method accurately predicts the deformations and stresses acting within the tire tread. Hence, the simulation domain occupied by the tire tread is efficiently described as a continuous entity. The coupling of both methods is based on the interface shared by the two spatially separated domains. Contact forces develop at the interface and propagate into each domain. The coupling method enables to capture both responses simultaneously and allows to sufficiently resolve the different length scales. Each grain in contact with the surface of the tire tread generates a contact force which it reacts on repulsively. The contact forces sum up over the tread surface and cause the tire tread to deform. The coupling method compensates quite naturally the shortages of both numerical methods. It further employs a fast contact detection algorithm to save valuable computation time. The proposed DEM-FEM Coupling technique was employed to study the tractive performance of a rubber tire with lug tread patterns in a soil bed. The contact forces at the tread surface are captured by 3D simulations for a tire slip of 5%. The simulations showed to accurately recapture the gross tractive effort, running resistance and drawbar pull of the tire tread in comparison to related measurements. Further, the traction mechanisms between the tire tread and the granular ground are studied by analysing the motion of the soil grains and the deformation of the tread. [less ▲]

Detailed reference viewed: 579 (29 UL)
Full Text
Peer Reviewed
See detailExtreme Returns in the European Financial Crisis
Chouliaras, Andreas UL; Grammatikos, Theoharry UL

E-print/Working paper (2014)

We examine the transmission of extreme stock market returns among three groups of countries: the Euro-periphery countries (Portugal, Ireland, Italy, Greece, Spain), the Euro-core countries (Germany ... [more ▼]

We examine the transmission of extreme stock market returns among three groups of countries: the Euro-periphery countries (Portugal, Ireland, Italy, Greece, Spain), the Euro-core countries (Germany, France, the Netherlands, Finland, Belgium), and the major European Union -but not euro- countries (Sweden, UK, Poland, Czech Republic, Denmark). Using extreme returns on daily stock market data from January 2004 till March 2013, we nd that transmission e ects are present for the tails of the returns distributions for the Pre-crisis, the US-crisis and the Euro-crisis periods from the Euro-periphery group to the Non-Euro and the Euro-core groups. Within group e ects are stronger in the crisis periods. We nd that the transmission channel does not seem to have intensi ed during the crisis periods, but it transmitted larger shocks (in some cases, extreme bottom returns doubled during the crisis periods). Thus, as extreme returns have become much more "extreme" during the nancial crisis periods, the expected losses on extreme return days have increased signi cantly. Given the fact that stock market capitalisations in these country groups are trillions of Euros, a 1% or 2% increase in extreme bottom returns (in crisis periods) can lead to aggregate losses of tens of billions Euros in one single trading day. [less ▲]

Detailed reference viewed: 83 (1 UL)
Full Text
Peer Reviewed
See detailIs there a Bubble in the Art Market?
Kräussl, Roman UL; Lehnert, Thorsten UL; Martelin, Nicolas

E-print/Working paper (2014)

Detailed reference viewed: 1283 (83 UL)