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See detailThe Effect of Anticipated and Experienced Regret and Pride on Investors’ Future Selling Decisions*
Kräussl, Roman UL; Lee, Carmen; Paas, Leo

E-print/Working paper (2013)

Detailed reference viewed: 86 (1 UL)
See detailLearning and teaching Chinese in the Netherlands: The metapragmatics of a polycentric language
Li, Jinling; Juffermans, Kasper UL

E-print/Working paper (2013)

Detailed reference viewed: 77 (4 UL)
See detailOld-Age Support and Demographic Transition in Developing Countries. A cultural Transmission Model
Olivera Angulo, Javier UL

E-print/Working paper (2013)

We model intergenerational old-age support within the context of a developing country that faces demographic transition: declining fertility and increasing life expectancy. We attempt to answer if agents ... [more ▼]

We model intergenerational old-age support within the context of a developing country that faces demographic transition: declining fertility and increasing life expectancy. We attempt to answer if agents will be able to support their parents during the next generations and under what conditions. For this purpose we use a three period overlapping generations model and a cultural transmission process, in which agents may be socialized to different cultural family models (old-age supporters and non-supporters). As life expectancy increases, we find conditions under which a reduced fertility rate is compatible with the expectation to be supported during old-age. This offers an additional explanation for the persistency of family old-age support in developing countries facing demographic transsition. [less ▲]

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See detailMacroeconomic determinants of European stock and government bond correlations: A tale of two regions
Perego, Erica UL; Vermeulen, Wessel UL

E-print/Working paper (2013)

This paper studies the dynamic correlation between stocks, between government bonds and between stocks and bonds within the Euro-zone in the last decade. In order to better understand the development of ... [more ▼]

This paper studies the dynamic correlation between stocks, between government bonds and between stocks and bonds within the Euro-zone in the last decade. In order to better understand the development of the financial market we argue that it is necessary to analyse all such relations simultaneously rather than focus at one. We firstly calculate the dynamic correlation for the previous asset classes. Results presented at the asset-region level, i.e. north-stock, north-bonds, south-stocks and south-bonds, visualise the divergence in integration in Europe and highlight the he- terogeneity in these markets. Secondly, we study the macroeconomic factors that determine these correlations. We find that, when we allow for regional division, not only cross-asset correlations within regions behave differently from each other, but also cross-assets cross-regions dynamic correlations can be explained with ma- croeconomic factors such as the relative market uncertainty between countries and balance of payments dynamics. [less ▲]

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See detailLes langues parlées au travail, à l’école et/ou à la maison
Fehlen, Fernand UL; Heinz, Andreas UL; Peltier, François et al

E-print/Working paper (2013)

70.5% of the population uses Luxembourgish at work, school and/or at home, 55.7% French and 30.6% German. On average 2.2 languages ​​are used. Adolescents and young adults exceed this average, while ... [more ▼]

70.5% of the population uses Luxembourgish at work, school and/or at home, 55.7% French and 30.6% German. On average 2.2 languages ​​are used. Adolescents and young adults exceed this average, while children and the elderly are below. About half of the Germans, Dutch and Montenegrins living in Luxembourg use Luxembourgish and occupy the first three places among the foreign nationalities speaking Luxembourgish. The use of Luxembourgish by immigrants increases with the duration of their stay. In rural regions, especially in the north of the country, where the rate of foreigners is relatively low, the percentage of the resident population using Luxembourgish generally exceeds 80% (Consthum 94.8%). In Luxembourg City the rate is only 48.8%. [less ▲]

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See detailL’arrière-plan migratoire de la population du Grand-Duché de Luxembourg
Peltier, François; Thill, Germaine; Heinz, Andreas UL et al

E-print/Working paper (2013)

61.2% de la population du Grand-Duché ont un « background » migratoire, soit directement ou indirectement à travers les parents. À contrario, 38.8% des résidents n’ont pas d’arrière-plan migratoire ... [more ▼]

61.2% de la population du Grand-Duché ont un « background » migratoire, soit directement ou indirectement à travers les parents. À contrario, 38.8% des résidents n’ont pas d’arrière-plan migratoire (Luxembourgeois nés au Grand-Duché de parents tous les deux également nés au Luxembourg). Le « background » migratoire d’une personne peut être appréhendé à travers sa nationalité, son lieu de naissance, mais également à travers le lieu de naissance des parents. Les personnes de nationalité étrangère nées à l’étranger de deux parents également nés à l’étranger représentent 32.0% de la population. Près d’un dixième de la population (8.5%) est né au Luxembourg de parents nés tous les deux à l’étranger et est de nationalité étrangère. Parmi ces personnes, nous retrouvons pour près de la moitié des Portugais. 4.6% des résidents sont Luxembourgeois nés au Grand-Duché de deux parents nés à l’étranger. 4.3% des personnes résidentes sont luxembourgeoises nées à l’étranger et dont les deux parents sont également nés à l’étranger. Ce groupe inclut les personnes immigrées nées à l’étranger qui ont été naturalisées (94.9% des cas). À noter également que 11.3% de la population ont un arrière-plan migratoire à travers un des deux parents. [less ▲]

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See detailDynamic Dependence in Corporate Credit
Jin, Xisong UL; Christoffersen, Peter; Jacobs, Kris et al

E-print/Working paper (2013)

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See detailImmigration et migrations internes - Zuwanderung aus dem Ausland und Binnenwanderung
Heinz, Andreas UL; Peltier, François; Thill, Germaine et al

E-print/Working paper (2013)

43,942 people counted in the Luxembourg 2011 census have immigrated from abroad to Luxembourg between 2005 and 2011. More than a third (34.1%) of these immigrants settled in the City of Luxembourg. During ... [more ▼]

43,942 people counted in the Luxembourg 2011 census have immigrated from abroad to Luxembourg between 2005 and 2011. More than a third (34.1%) of these immigrants settled in the City of Luxembourg. During the same period 65,627 people migrated from one municipality to another within the country. A clear trend appears, namely the fact that many people are leaving Luxembourg City for another part of the country, notably the suburbs. There are 4 507 people from another municipality who settled in the capital, but 12,035 people have left for another municipality. Two different geographical models are identified for immigration and internal migration. The capital attracts many immigrants (a proportion that far exceeds the percentage of inhabitants of the capital in the total population), while for internal migration, there are more people moving from Luxembourg City to another municipality. The age structure of immigrants from abroad and people who migrate internally is very similar. It is mainly young adults and their children. [less ▲]

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See detailLocation : Surfaces et loyers - Mietwohnungen: Kaltmieten - Wohnungsgrößen - Vorzugsmieten
Heinz, Andreas UL; Peltier, François; Thill, Germaine et al

E-print/Working paper (2013)

In Luxembourg, 28.3% of households are renters, which corresponds to 24.7% of the population. 91.9% of renter households pay a normal rent and 8.1% a reduced rent. On average, a reduced rent is € 396.7 ... [more ▼]

In Luxembourg, 28.3% of households are renters, which corresponds to 24.7% of the population. 91.9% of renter households pay a normal rent and 8.1% a reduced rent. On average, a reduced rent is € 396.7, while a normal rent reaches € 887.8 for similar surfaces (respectively 84.1 m² and 83.5 m²). In absolute terms, the rents are higher in municipalities located in the outskirts of the capital. With the distance from Luxembourg City, rents decrease. However, the housing surfaces in densely populated areas such as the City of Luxembourg, are generally smaller, so that the rent per square meter is the highest in the capital: 14.7 € per m² in the City of Luxembourg, against 12.5 € per m² on national average. Significant differences also exist in rent according to the nationality of the tenant. Britons pay on average the highest rents, but together with the Dutch, they also have larger surfaces. Montenegrins rent the smallest surface area per capita (27.5 m²). The level of rents depends on the time of moving in the dwelling. The average rent for a dwelling in which a household moved from 2001 to 2011 is € 13 per m², against € 7 per m² for a dwelling in which a household moved before 1980. [less ▲]

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See detailSurface et équipement du logement - Die Wohnsituation: Wohnfläche und Ausstattung der Wohnung
Heinz, Andreas UL; Peltier, François; Thill, Germaine et al

E-print/Working paper (2013)

In Luxembourg, a household has, on average, 129.9 m² surface of dwelling. But deviations from this average are important: with increasing household size, the surface of dwelling also increases. However ... [more ▼]

In Luxembourg, a household has, on average, 129.9 m² surface of dwelling. But deviations from this average are important: with increasing household size, the surface of dwelling also increases. However, the surface per capita is highest for single households, that is to say, people living alone (95.2 m²). For a household of six people or more, the surface available per person is only 30.1 m². It is in Esch-sur-Alzette where the dwelling surface per household is the lowest (96.0 m² on average), while in Niederanven the dwelling surface per household reaches 190.2 m². Dwelling surfaces also vary according to the nationality of the reference person of the household. Households whose reference person is British have the largest dwelling surface (158.7 m² per household on average), followed by the Dutch (153.6 m² per household) and Luxemburgers (140.9 m²). With 97.9 m² per household on average, the Portuguese live in smaller dwellings. There is also a link between the occupancy status and the surface of the dwelling. Owner households live in the most spacious dwellings (147.7 m² on average), while the surface available for tenant households is only 83.6 m². As the household size of owners is on average greater than that of renter households, per capita differences are smaller. The dwelling surface per capita of an owner household is 69.9 m², while for a tenant household, the dwelling surface per capita is 47.2 m². 97.0% of dwellings have a minimum standard of basic equipment, i.e. a bathroom, a toilet and central heating. [less ▲]

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See detailLa situation du logement : immeubles d’habitation, ménages, propriétaires et locataires - Die Wohnsituation: Bewohnte Gebäude - Privathaushalte - Wohneigentum
Heinz, Andreas UL; Peltier, François; Thill, Germaine et al

E-print/Working paper (2013)

In Luxembourg, there were 130,091 residential buildings at the time of the census. Single family homes are the prevalent type of buildings. They represent 83.5% of all residential buildings. Of the single ... [more ▼]

In Luxembourg, there were 130,091 residential buildings at the time of the census. Single family homes are the prevalent type of buildings. They represent 83.5% of all residential buildings. Of the single family homes, detached houses are predominant (37.9% of all residential buildings), followed by single family semi-detached houses (25.0%) and single-family homes in a row (20.6%). Apartment buildings represent only 12.5% of total residential buildings. However, the share of the population living in single family homes is only 62.6%, while 32.7% of the population is living in apartment buildings. In the 208,565 private households, there are 503,280 people, that is to say, on average, 2.41 persons per household. One third of households (33.3%) are single households. 27.4% of residents live in two-person households and 15.9% in households of three people. The real estate market is moving. 9.4% of people surveyed in Luxembourg live less than one year in their home. 34.1% live in their homes for less than 5 years. More than two thirds of households (69.0%) are homeowners, 28.3% of households live in rental and 2.7% live in homes without paying rent. The percentage varies widely by nationality, but also by municipalities. 84.5% of Luxembourgers are homeowners. The percentage of owners is generally higher in municipalities located at a certain distance from the center. In Luxembourg-City, only 47.9% are homeowners. [less ▲]

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See detailFrom the Virasoro Algebra to Krichever--Novikov Type Algebras and Beyond
Schlichenmaier, Martin UL

E-print/Working paper (2013)

Detailed reference viewed: 112 (2 UL)
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See detailL’Union européenne en crise face au dogme de l’efficience des marchés financiers
Prüm, André UL

E-print/Working paper (2013)

Detailed reference viewed: 108 (13 UL)
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See detailCobham's theorem for abstract numeration systems
Charlier, Emilie; Leroy, Julien UL; Rigo, Michel

E-print/Working paper (2013)

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See detail(Un)stable vertical collusive agreements
Jean, Gabszewicz; Zanaj, Skerdilajda UL

E-print/Working paper (2013)

Detailed reference viewed: 86 (3 UL)
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See detailIndex of Personnalities Names_Research corpus 'A rereading of the Werner Report of 8 October 1970 in the light of the Pierre Werner family archives'
Danescu, Elena UL; Mouton, Victoria UL

E-print/Working paper (2013)

This Index of Personnalities with their short biographie is an output of the major research project dedicated to the European vocation and achievements of Pierre Werner, a former Prime Minister, Finance ... [more ▼]

This Index of Personnalities with their short biographie is an output of the major research project dedicated to the European vocation and achievements of Pierre Werner, a former Prime Minister, Finance Minister and Foreign Minister of Luxembourg, unanimously recognised as one of the architects of Economic and Monetary Union. The first stage of the research was particularly focused on the plan for the establishment by stages of an economic and monetary union (more widely known as the Werner Report or the Werner Plan), drawn up by a group of experts chaired by Pierre Werner and officially presented on 8 October 1970 in Luxembourg. [less ▲]

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See detailExtending functions to natural extensions
Teheux, Bruno UL; Hansoul, Georges

E-print/Working paper (2013)

Detailed reference viewed: 71 (1 UL)
See detailA complete classification of equational classes of threshold functions included in clones
Couceiro, Miguel; Lehtonen, Erkko UL; Schölzel, Karsten UL

E-print/Working paper (2013)

The class of threshold functions is known to be characterizable by functional equations or, equivalently, by pairs of relations, which are called relational constraints. It was shown by Hellerstein that ... [more ▼]

The class of threshold functions is known to be characterizable by functional equations or, equivalently, by pairs of relations, which are called relational constraints. It was shown by Hellerstein that this class cannot be characterized by a finite number of such objects. In this paper, we investigate classes of threshold functions which arise as intersections of the class of all threshold functions with clones of Boolean functions, and provide a complete classification of such intersections in respect to whether they have finite characterizations. Moreover, we provide a characterizing set of relational constraints for each class of threshold functions arising in this way. [less ▲]

Detailed reference viewed: 100 (3 UL)
See detailFast reconstruction of compact context-specific metabolic network models
Vlassis, Nikos UL; Pacheco, Maria UL; Sauter, Thomas UL

E-print/Working paper (2013)

Systemic approaches to the study of a biological cell or tissue rely increasingly on the use of context-specific metabolic network models. The reconstruction of such a model from high-throughput data can ... [more ▼]

Systemic approaches to the study of a biological cell or tissue rely increasingly on the use of context-specific metabolic network models. The reconstruction of such a model from high-throughput data can routinely involve large numbers of tests under different conditions and extensive parameter tuning, which calls for fast algorithms. We present FASTCORE, a generic algorithm for reconstructing context-specific metabolic network models from global genome-wide metabolic network models such as Recon X. FASTCORE takes as input a core set of reactions that are known to be active in the context of interest (e.g., cell or tissue), and it searches for a flux consistent subnetwork of the global network that contains all reactions from the core set and a minimal set of additional reactions. Our key observation is that a minimal consistent reconstruction can be defined via a set of sparse modes of the global network, and FASTCORE iteratively computes such a set via a series of linear programs. Experiments on liver data demonstrate speedups of several orders of magnitude, and significantly more compact reconstructions, over a chief rival method. Given its simplicity and its excellent performance, FASTCORE can form the backbone of many future metabolic network reconstruction algorithms. [less ▲]

Detailed reference viewed: 146 (15 UL)
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See detailRates of convergence towards the Fréchet distribution
Bartholmé, Carine; Swan, Yvik UL

E-print/Working paper (2013)

We develop Stein's method for the Frechet distribution and apply it to compute rates of convergence in distribution of renormalized sample maxima to the Frechet distribution.

Detailed reference viewed: 64 (0 UL)
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See detailParametric Stein operators and variance bounds
Ley, Christophe; Swan, Yvik UL

E-print/Working paper (2013)

Stein operators are differential operators which arise within the so-called Stein's method for stochastic approximation. We propose a new mechanism for constructing such operators for arbitrary ... [more ▼]

Stein operators are differential operators which arise within the so-called Stein's method for stochastic approximation. We propose a new mechanism for constructing such operators for arbitrary (continuous or discrete) parametric distributions with continuous dependence on the parameter. We provide explicit general expressions for location, scale and skewness families. We also provide a general expression for discrete distributions. For specific choices of target distributions (including the Gaussian, Gamma and Poisson) we compare the operators hereby obtained with those provided by the classical approaches from the literature on Stein's method. We use properties of our operators to provide upper and lower variance bounds (only lower bounds in the discrete case) on functionals h(X) of random variables X following parametric distributions. These bounds are expressed in terms of the first two moments of the derivatives (or differences) of h. We provide general variance bounds for location, scale and skewness families and apply our bounds to specific examples (namely the Gaussian, exponential, Gamma and Poisson distributions). The results obtained via our techniques are systematically competitive with, and sometimes improve on, the best bounds available in the literature. [less ▲]

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See detailCoding observations of the Member States and judgements of the Court of Justice of the EU under the preliminary reference procedure 1997-2008
Naurin, Daniel; Cramér, Per; Larsson, Olof et al

E-print/Working paper (2013)

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See detailThree lectures on Algebraic Microlocal Analysis
Schapira, Pierre UL

E-print/Working paper (2013)

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See detail'A rereading of the Werner Report of 8 October 1970 in the light of the Pierre Werner family archives'
Danescu, Elena UL

E-print/Working paper (2013)

The digital research corpus ‘A rereading of the Werner Report of 8 October 1970 in the light of the Pierre Werner family archives’ showcases the results of the first stage of the ‘Pierre Werner and ... [more ▼]

The digital research corpus ‘A rereading of the Werner Report of 8 October 1970 in the light of the Pierre Werner family archives’ showcases the results of the first stage of the ‘Pierre Werner and Europe’ research project (2011-2013). Based on a thorough exploration of the Werner family archives, which have been opened for the first time for research purposes, and also on other relevant archives — both Luxembourgish and international, public and private — containing multimedia material in several languages, this corpus throws light on the alchemy of the Werner Report and the mindset in which it was developed. Previously unpublished documents have helped clarify the varied, nuanced role of Pierre Werner and his personal contribution to the development and adoption of the stage-by-stage plan, on a theoretical, methodological and political level, in the context of his European achievements as a whole. The research corpus contains a comprehensive, varied selection of primary sources and related resources, as well as a detailed analytical study, which provides a new interpretation of various little-known, original sources. This corpus offers a ‘rereading’, a fresh look at the Werner Report, retracing the context and historical background in which the report was drafted and examining the work of the Werner Committee, and highlighting the impact of the Werner Plan on the path towards Economic and Monetary Union. In the interests of clarity, the study is accompanied by a list of references cited by section, as well as a list of key figures with brief biographical details, a comprehensive bibliography and a chronology. [less ▲]

Detailed reference viewed: 95 (2 UL)
See detailPolytopic uncertainty for linear systems: New and old complexity results
Vlassis, Nikos UL; Jungers, R.M.

E-print/Working paper (2013)

We survey the problem of deciding the stability or stabilizability of uncertain linear systems whose region of uncertainty is a polytope. This natural setting has applications in many fields of applied ... [more ▼]

We survey the problem of deciding the stability or stabilizability of uncertain linear systems whose region of uncertainty is a polytope. This natural setting has applications in many fields of applied science, from Control Theory to Systems Engineering to Biology. We focus on the algorithmic decidability of this property when one is given a particular polytope. This setting gives rise to several different algorithmic questions, depending on the nature of time (discrete/continuous), the property asked (stability/stabilizability), or the type of uncertainty (fixed/switching). Several of these questions have been answered in the literature in the last thirty years. We point out the ones that have remained open, and we answer all of them, except one which we raise as an open question. In all the cases, the results are negative in the sense that the questions are NP-hard. As a byproduct, we obtain complexity results for several other matrix problems in Systems and Control. [less ▲]

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See detailHas Europe Been Catching Up? An Industry Level Analysis of Venture Capital Success over 1985-2009*
Kräussl, Roman UL; Krause, Stefan

E-print/Working paper (2013)

Detailed reference viewed: 78 (2 UL)
See detailSet-reconstructibility of Post classes
Couceiro, Miguel; Lehtonen, Erkko UL; Schölzel, Karsten UL

E-print/Working paper (2013)

The clones of Boolean functions are classified in regard to set-reconstructibility via a strong dichotomy result: the clones containing only affine functions, conjunctions, disjunctions or constant ... [more ▼]

The clones of Boolean functions are classified in regard to set-reconstructibility via a strong dichotomy result: the clones containing only affine functions, conjunctions, disjunctions or constant functions are set-reconstructible, whereas the remaing clones are not weakly reconstructible. [less ▲]

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See detailDas Forschungskonzept des DOC-teams
Dammayr, Maria; Gegenhuber, Thomas; Graß, Doris et al

E-print/Working paper (2013)

Detailed reference viewed: 87 (4 UL)
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See detailA Numerical Scheme for Multisignal Weight Constrained Conditioned Portfolio Optimisation Problems
Boissaux, Marc; Schiltz, Jang UL

E-print/Working paper (2013)

Detailed reference viewed: 41 (2 UL)
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See detailA Syntactic-Semantic Approach to Incremental Verification
Bianculli, Domenico UL; Filieri, Antonio; Ghezzi, Carlo et al

E-print/Working paper (2013)

Software verification of evolving systems is challenging mainstream methodologies and tools. Formal verification techniques often conflict with the time constraints imposed by change management practices ... [more ▼]

Software verification of evolving systems is challenging mainstream methodologies and tools. Formal verification techniques often conflict with the time constraints imposed by change management practices for evolving systems. Since changes in these systems are often local to restricted parts, an incremental verification approach could be beneficial. This paper introduces SiDECAR, a general framework for the definition of verification procedures, which are made incremental by the framework itself. Verification procedures are driven by the syntactic structure (defined by a grammar) of the system and encoded as semantic attributes associated with the grammar. Incrementality is achieved by coupling the evaluation of semantic attributes with an incremental parsing technique. We show the application of SiDECAR to the definition of two verification procedures: probabilistic verification of reliability requirements and verification of safety properties. [less ▲]

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See detailOn the desirability of tax coordination when countries compete in taxes and infrastructures
Han, Yutao UL; Pieretti, Patrice UL; Zou, Benteng UL

E-print/Working paper (2013)

In our paper we show that when countries compete in taxes and infrastructures, coordination through a uniform tax rate or a minimum rate does not necessarily create the welfare effects observed under pure ... [more ▼]

In our paper we show that when countries compete in taxes and infrastructures, coordination through a uniform tax rate or a minimum rate does not necessarily create the welfare effects observed under pure tax competition. The divergence is even worse when the competing jurisdictions differ in the quality of their institutions. If tax revenue is used to gauge the desirability of coordination, our model shows that imposing a uniform tax rate is Pareto-inferior to the non cooperative equilibrium when countries compete in taxes and infrastructures. This result is completely reversed with pure tax competition if countries are not too uneven in size. If a minimum tax rate lying between those resulting from the non-cooperative equilibrium is set, the low tax country will never be better off. Finally the paper shows that the potential social welfare gains from tax harmonization crucially depend on how heterogeneous the competing countries are. [less ▲]

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See detailThreshold Preferences and the Environment
Schumacher, Ingmar; Zou, Benteng UL

E-print/Working paper (2013)

In this article we study the implication of thresholds in preferences. To model this we extend the basic model of John and Pecchenino (1994) by allowing the current level of environmental quality to have ... [more ▼]

In this article we study the implication of thresholds in preferences. To model this we extend the basic model of John and Pecchenino (1994) by allowing the current level of environmental quality to have a discrete impact on how an agent trades o future consumption and environmental quality. In other words, we endogenize the semi-elasticity of utility based on a step function. We motivate the existence of the threshold based on research from political science, from arguments based on regulation and standards, cultural economics as well as ecological economics. Our results are that the location of the threshold determines both the potential steady states as well as the dynamics. For low (high) thresholds, environmental quality converges to a low (high) steady state. For intermediate levels it converges to a stable p-cycle, with environmental quality being asymptotically bounded below and above by the low and high steady state. We discuss implications for intergenerational equity and policy making. As policy implications we study shifts in the threshold. Our results are that, in case it is costless to shift the threshold, it is always worthwhile to do so. If it is costly to change the threshold, then it is worthwhile to change the threshold if the threshold originally was suffi ciently low. Lump-sum taxes may lead to a development trap and should be avoided if there are uncertainties about the threshold or the effectiveness of the policy. [less ▲]

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See detailThe Dynamics of the Location of Firms– A Revisit of Home-Attachment under Tax Competition
Han, Yutao UL; Pieretti, Patrice UL; Zou, Benteng UL

E-print/Working paper (2013)

We revisit the investment home-bias situation of firms and extend the home attachment setting of Mansoorian and Myers (1993) and Ogura (2006) into a dynamic framework. We locate firms based on their home ... [more ▼]

We revisit the investment home-bias situation of firms and extend the home attachment setting of Mansoorian and Myers (1993) and Ogura (2006) into a dynamic framework. We locate firms based on their home attachment preferences, which is also changing over time based on some updated spillover information. Some applications, in static and dynamic tax competition, are presented following our home-attachment principle. [less ▲]

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See detailDifferential Game with (A)symmetric Players and Heterogeneous Strategies
Zou, Benteng UL

E-print/Working paper (2013)

This paper presents one kind of heterogeneous strategies in some differential games where one player plays open-loop strategy and the other one plays Markovian strategy. On top of the stationary path ... [more ▼]

This paper presents one kind of heterogeneous strategies in some differential games where one player plays open-loop strategy and the other one plays Markovian strategy. On top of the stationary path, this kind of strategies enable the study of trajectory dynamics, even for asymmetric players’ with non-linear-quadratic games. [less ▲]

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See detailPopulation, Pensions, and Endogenous Economic Growth
Heer, Burkhard; Irmen, Andreas UL

E-print/Working paper (2013)

We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme ... [more ▼]

We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor productivity are more profitable. We incorporate this channel in a new dynamic general equilibrium model with endogenous economic growth and heterogeneous overlapping generations. We calibrate the model for the US economy and obtain the following results. First, the effect of a decline in population growth on labor productivity growth is positive and quantitatively significant. In our benchmark, it is predicted to increase from an average annual growth rate of 1.74% over 1990-2000 to 2.41% in 2100. Second, institutional characteristics of the pension system matter both for the growth performance and for individual welfare. Third, the assessment of pension reform proposals may depend on whether economic growth is endogenous or exogenous. [less ▲]

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See detailOffshore financial centers: Tax havens or safe havens
Thisse, Jacques; Pieretti, Patrice UL; Zanaj, Skerdilajda UL

E-print/Working paper (2013)

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See detailMigration, Wages and Fiscal competition
Gabszewicz, Jean; Tarola, Ornella; Zanaj, Skerdilajda UL

E-print/Working paper (2013)

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See detailWashington Meets Wall Street: A Closer Examination of the Presidential Cylce Puzzle
Kräussl, Roman UL; Lucas, André; Rijsbergen, David R. et al

E-print/Working paper (2013)

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See detailOn Immersible G-Structures
Santi, Andrea UL

E-print/Working paper (2013)

Detailed reference viewed: 61 (1 UL)
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See detail5D Super Yang-Mills on Y p,q Sasaki-Einstein manifolds
Qiu, Jian UL; Zabzine, Maxim

E-print/Working paper (2013)

On any simply connected Sasaki-Einstein five dimensional manifold one can construct a super Yang-Mills theory which preserves at least two supersymmetries. We study the special case of toric Sasaki ... [more ▼]

On any simply connected Sasaki-Einstein five dimensional manifold one can construct a super Yang-Mills theory which preserves at least two supersymmetries. We study the special case of toric Sasaki-Einstein manifolds known as Y p,q manifolds. We use the localisation technique to compute the full perturbative part of the partition function. The full equivariant result is expressed in terms of certain special function which appears to be a curious generalisation of the triple sine function. As an application of our general result we study the large N behaviour for the case of single hypermultiplet in adjoint representation and we derive the N 3-behaviour in this case. [less ▲]

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See detailVarying the number of bidders in the first-price sealed-bid auction: experimental evidence for the one-shot game
Neugebauer, Tibor UL; Füllbrunn, Sascha

E-print/Working paper (2013)

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See detailA bicategory of reduced orbifolds from the point of view of differential geometry - I
Tommasini, Matteo UL

E-print/Working paper (2013)

We describe a bicategory (Red Orb) of reduced orbifolds in the framework of differential geometry (i.e. without any explicit reference to notions of Lie groupoids or differentiable stacks, but only using ... [more ▼]

We describe a bicategory (Red Orb) of reduced orbifolds in the framework of differential geometry (i.e. without any explicit reference to notions of Lie groupoids or differentiable stacks, but only using orbifold atlases, local lifts and changes of charts). In order to construct such a bicategory, we first define a 2-category (Red Atl) whose objects are reduced orbifold atlases (on paracompact, second countable, Hausdorff topological spaces). The definition of morphisms is obtained as a slight modification of a definition by A. Pohl, while the definition of 2-morphisms and compositions of them is new in this setup. Using the bicalculus of fractions described by D. Pronk, we are able to construct from such a 2-category the bicategory (Red Orb). We prove that it is equivalent to the bicategory of reduced orbifolds described in terms of proper, effective, étale Lie groupoids by D. Pronk and I. Moerdijk and to the 2-category of reduced orbifolds described by several authors in the past in terms of a suitable class of differentiable Deligne-Mumford stacks. [less ▲]

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See detailMarriage Formation as an Optimal Stopping Problem with Assortative Meeting
Parilina, Elena; Tampieri, Alessandro UL

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Detailed reference viewed: 40 (2 UL)
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See detailAnalytical Guidance for Fitting Parsimonious Household-Portfolio Models to Data
Hubar, Sylwia; Koulovatianos, Christos UL; Li, Jian UL

E-print/Working paper (2013)

Saving rates and household investment in stocks and business equity are all increasing in income and wealth. Introducing subsistence consumption to a common-across-households Epstein-Zin-Weil utility ... [more ▼]

Saving rates and household investment in stocks and business equity are all increasing in income and wealth. Introducing subsistence consumption to a common-across-households Epstein-Zin-Weil utility function is up to a quantitative explanation, in the context of stan- dardized parsimonious household-portfolio models with risky income. Closed forms in a sim- plified version of the model, with insurable labor-income risk and no liquidity constraints, reveal that if, (i) risky-asset returns are weakly correlated and, (ii) household resources are expected to grow over time, then poorer households can afford exiting subsistence concerns slowly by saving less and by taking less risk, while holding balanced portfolios. [less ▲]

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See detailFactorization of 5D super Yang-Mills on Yp,q spaces
Zabzine, Maxim; Qiu, Jian UL

E-print/Working paper (2013)

We continue our study on the partition function for 5D supersymmetric Yang-Mills theory on toric Sasaki-Einstein Yp,q manifolds. Previously, using the localisation technique we have computed the ... [more ▼]

We continue our study on the partition function for 5D supersymmetric Yang-Mills theory on toric Sasaki-Einstein Yp,q manifolds. Previously, using the localisation technique we have computed the perturbative part of the partition function. In this work we show how the perturbative part factorises into four pieces, each corresponding to the perturbative answer of the same theory on R4×S1. This allows us to identify the equivariant parameters and to conjecture the full partition functions (including the instanton contributions) for Yp,q spaces. The conjectured partition function receives contributions only from singular contact instantons supported along the closed Reeb orbits. At the moment we are not able to prove this fact from the first principles. [less ▲]

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See detailBalancing the interests in the context of data retention
Cole, Mark UL; Boehm, Franziska

E-print/Working paper (2013)

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See detailStochastic flows and an interface SDE on metric graphs
Hajri, Hatem UL; Raimond, Olivier

E-print/Working paper (2013)

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See detailParameter estimation based on discrete observations of fractional Ornstein-Uhlenbeck process of the second kind
Azmoodeh, Ehsan UL; Viitasaari, Lauri

E-print/Working paper (2013)

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See detailEmpirical Welfare Analysis - When Preferences Matter
Carpantier, Jean-Francois UL; Sapata, Christelle

E-print/Working paper (2013)

Fleurbaey and Maniquet have proposed the criteria of conditional equality and of egalitarian equivalence to assess the equity among individuals in an ordinal setting. Empirical applications are rare and ... [more ▼]

Fleurbaey and Maniquet have proposed the criteria of conditional equality and of egalitarian equivalence to assess the equity among individuals in an ordinal setting. Empirical applications are rare and only partially consistent with their framework. We propose a new empirical approach that relies on individual preferences, is consistent with the ordinal criteria and enables to compare them with the cardinal criteria. We estimate a utility function that incorporates individual heterogeneous preferences, obtain ordinal measures of well-being and apply conditional equality and egalitarian equivalence. We then propose two cardinal measures of well-being, that are comparable with the ordinal model, to compute Roemer’s and Van de gaer’s criteria. Finally we compare the characteristics of the worst-off displayed by each criterion. We apply this model to a sample of US micro data and obtain that about 18% of the worst-off are not common to all criteria. [less ▲]

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See detailResource Income and the Effect on Domestic Neighbours: A case study on Canadian
Vermeulen, Wessel UL

E-print/Working paper (2013)

Resource income in a multi-regional setting allows for differentiated impacts of windfalls on the industrial development of each region. A resource exporting region suffers from Dutch disease through a ... [more ▼]

Resource income in a multi-regional setting allows for differentiated impacts of windfalls on the industrial development of each region. A resource exporting region suffers from Dutch disease through a spending effect and a real exchange rate ap- preciation. Whereas, a neighboring region will suffer from the real exchange rate appreciation but the increased demand from the region with the resource income of tradable goods will increase the traded good sector in the neighboring region. For a 2-region 2-sector model the equilibrium conditions on the labour allocation between the sectors are derived taking into account resource potential windfalls. The model is tested on and supported by a panel dataset of Canadian provinces. [less ▲]

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See detailReal exchanges rates, commodities prices and structural factors in developing countries
Carpantier, Jean-Francois UL; Bodart, Vincent; Candelon, Bertrand

E-print/Working paper (2013)

This paper provides new empirical evidence about the relationship that may exist between real exchange rates and commodity prices in developing countries that are specialized in the export of a main ... [more ▼]

This paper provides new empirical evidence about the relationship that may exist between real exchange rates and commodity prices in developing countries that are specialized in the export of a main primary commodity. It investigates how structural factors like the exchange rate regime, the degree of financial and trade openness, the degree of export concentration and the type of the commodity exports affect the strength of the commodity price-real exchange rate dependence. [less ▲]

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See detailAsymmetric contests with risky rents
Guigou, Jean-Daniel UL

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See detailNational Parliaments after Lisbon: Administrations on the Rise?
Högenauer, Anna-Lena UL; Neuhold, Christine

E-print/Working paper (2013)

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See detailDas mehrsprachige Gehirn
Engel de Abreu, Pascale UL

E-print/Working paper (2013)

Der „kognitive Vorteil“ der Mehrsprachigkeit besteht darin, dass mehrsprachige Kinder in bestimmten kognitiven Aufgaben, welche die sogenannten „exekutiven Funktionen“ messen, besser sind als Kinder, die ... [more ▼]

Der „kognitive Vorteil“ der Mehrsprachigkeit besteht darin, dass mehrsprachige Kinder in bestimmten kognitiven Aufgaben, welche die sogenannten „exekutiven Funktionen“ messen, besser sind als Kinder, die nur eine Sprache sprechen. [less ▲]

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See detailThe consumption-real exchange rate anomaly with extensive margins
Hamano, Masashige UL

E-print/Working paper (2013)

This paper investigates a consumption-real exchange rate anomaly from the open macroeconomics literature known as the Backus-Smith puzzle . We both analytically and quantitatively examine how an expansion ... [more ▼]

This paper investigates a consumption-real exchange rate anomaly from the open macroeconomics literature known as the Backus-Smith puzzle . We both analytically and quantitatively examine how an expansion of trade along extensive margins can contribute to the puzzle s resolution. Our argument is based on 1) a wealth effect due to changes in the number of product varieties, 2) statistical inefficiency in measuring the number of product varieties, and 3) market incompleteness. Contrary to complete asset markets which, in general, feature overly strong risk sharing properties, changes in the number of product varieties under incomplete markets may produce a wealth e¤ect under high trade elasticity. Since statistical agencies systematically fail to capture the welfare impact arising from that changes, data-consistent terms of trade and real exchange rates tend to appreciate due to this positive wealth effect. This provides a realistic correlation between data-consistent real exchange rates and consumption. [less ▲]

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See detailDas Brauwesen in der Großregion SaarLorLux
Wöltering, Florian; de Assis Mendonça, Juliano; Pauly, Michel UL et al

E-print/Working paper (2013)

The beginnings of beer go back to the time of Roman rule. However, beer only gained in importance through the medieval monasteries of the Greater Region, but was exposed to strong competition from wine ... [more ▼]

The beginnings of beer go back to the time of Roman rule. However, beer only gained in importance through the medieval monasteries of the Greater Region, but was exposed to strong competition from wine. It was not until the political and economic upheaval following the French Revolution that the brewery industry spread. [less ▲]

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See detailEndogenous Firm creation and destruction over the business cycle
Hamano, Masashige UL

E-print/Working paper (2013)

This paper revisits Schumpeterian destruction in a DSGE model based on monopolistic competition. Firms enter the market through a free entry condition and exit endogenously depending on their specific ... [more ▼]

This paper revisits Schumpeterian destruction in a DSGE model based on monopolistic competition. Firms enter the market through a free entry condition and exit endogenously depending on their specific productivity level. The mechanism of endogenous destruction among heterogeneous firms is based on the probabilistic argument discussed in Melitz (2003). The models in the paper are successful in reproducing observed business cycle patterns for creation and destruction and other major economic variables. The models also feature typical characteristics of Schumpeterian economies as found in literature. [less ▲]

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See detailPolitical Economics of External Sovereign Defaults
Achury, Carolina; Koulovatianos, Christos UL; Tsoukalas, John

E-print/Working paper (2013)

We study how excessive debt-GDP ratios affect political sustainability of prudent fiscal policy in country members of a monetary union. We develop a model with free choice of distinct rent-seeking groups ... [more ▼]

We study how excessive debt-GDP ratios affect political sustainability of prudent fiscal policy in country members of a monetary union. We develop a model with free choice of distinct rent-seeking groups to cooperate (or not) in providing public goods, in seeking rents, and in austere debt issuing through international markets. Noncooperation of rent-seeking groups on fiscal prudence triggers collective fiscal impatience: fiscal debt is issued excessively because each group expropriates extra rents before other groups do so, too. Such collective fiscal impatience leads to a vicious circle of high international interest rates and external-debt default. Our calibration suggests that debt-GDP ratios below 137% foster cooperation among rent-seeking groups, which avoids collective fiscal impatience and default. Our analysis helps in understanding the politicoeconomic sustainability of sovereign rescue packages, emphasizing the need for fiscal targets and for possible debt haircuts. [less ▲]

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See detailThe kernel of Ribet’s isogeny for genus three Shimura curves
Molina Blanco, Santiago UL; Gonzalez Rovira, Josep

E-print/Working paper (2013)

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See detailCapital- and Labor-Saving Technical Change in an Aging Economy
Irmen, Andreas UL

E-print/Working paper (2013)

Does population aging and the associated increase in the old-age dependency ratio affect economic growth ? The answer is given in a novel analytical framework that allows for population aging to affect ... [more ▼]

Does population aging and the associated increase in the old-age dependency ratio affect economic growth ? The answer is given in a novel analytical framework that allows for population aging to affect endogenous capital- and labor-saving technical change. The short-run analysis reveals that population aging induces more labor- and less capital-saving technical change as it increases the relative scarcity of labor with respect to capital. Due to external contemporaneous knowledge spill-overs across innovating firms induced technical change has a first-order effect on current aggregate income. In the long-run capitalsaving technical progress vanishes, and the economy’s growth rate reflects only labor-saving technical change. However, the mere possibility of capital-saving technical change is shown to imply that the economy’s steady-state growth rate becomes independent of its age structure: neither a higher life-expectancy nor a decline in fertility affects economic growth in the long run. [less ▲]

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See detailCohomological Approach to the Graded Berezinian
Covolo, Tiffany UL

E-print/Working paper (2013)

We develop the theory of linear algebra over a (Z_2)^n-commutative algebra (n in N), which includes the well-known super linear algebra as a special case (n=1). Examples of such graded-commutative ... [more ▼]

We develop the theory of linear algebra over a (Z_2)^n-commutative algebra (n in N), which includes the well-known super linear algebra as a special case (n=1). Examples of such graded-commutative algebras are the Clifford algebras, in particular the quaternion algebra H. Following a cohomological approach, we introduce analogues of the notions of trace and determinant. Our construction reduces in the classical commutative case to the coordinate-free description of the determinant by means of the action of invertible matrices on the top exterior power, and in the supercommutative case it coincides with the well-known cohomological interpretation of the Berezinian. [less ▲]

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See detailAsymmetric contests with risky rents
Guigou, Jean-Daniel UL; Lovat, Bruno; Boissaux, Mac

E-print/Working paper (2013)

Detailed reference viewed: 77 (3 UL)
See detailReal Exchange Rates, Commodity Prices and Structural Factors in Developing Countries
Carpantier, Jean-Francois UL; Bodart, Vincent; Candelon, Bertrand

E-print/Working paper (2013)

Detailed reference viewed: 29 (3 UL)
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See detailSkewness Risk Premium: Theory and Empirical Evidence
Lehnert, Thorsten UL; Wolff, Christian UL; Lin, Yuehao

E-print/Working paper (2013)

Detailed reference viewed: 184 (4 UL)
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See detailStein’s Overeaction Puzzle: Option Anomaly or Perfectly Rational Behavior
Lehnert, Thorsten UL; Martelin, Nicolas UL; Lin, Yuehao

E-print/Working paper (2013)

Detailed reference viewed: 89 (5 UL)
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See detailA survey of semiparametric efficiency bounds for some microeconometric models
Severini, Thomas A.; Tripathi, Gautam UL

E-print/Working paper (2013)

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See detailBibliography of works by Pierre Werner for the research corpus 'A rereading of the Werner Report of 8 October 1970 in the light of the Pierre Werner family archives'
Danescu, Elena UL; Mouton, Victoria UL

E-print/Working paper (2013)

This Bibliography of works by Pierre Werner is an output of the major research project dedicated to the European vocation and achievements of Pierre Werner, a former Prime Minister, Finance Minister and ... [more ▼]

This Bibliography of works by Pierre Werner is an output of the major research project dedicated to the European vocation and achievements of Pierre Werner, a former Prime Minister, Finance Minister and Foreign Minister of Luxembourg, unanimously recognised as one of the architects of Economic and Monetary Union. It contains a significant number of undiclosed texts coming from the Werner family private archives opened for the first time for scientific purposes. The first stage of the research was particularly focused on the plan for the establishment by stages of an economic and monetary union (more widely known as the Werner Report or the Werner Plan), drawn up by a group of experts chaired by Pierre Werner and officially presented on 8 October 1970 in Luxembourg. [less ▲]

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See detailRule of Law and Participation: A Normative Analysis of Internationalised Administrative Procedures
Mendes, Joana UL

E-print/Working paper (2013)

Procedural standards of participation have the capacity to structure and constrain the exercise of authority. Focusing on the way decisions are formed, this paper argues that the depletion of such ... [more ▼]

Procedural standards of participation have the capacity to structure and constrain the exercise of authority. Focusing on the way decisions are formed, this paper argues that the depletion of such standards in processes of reception of trans- and international decisions within the EU potentially leads to situations of unrestrained authority and can constitute a challenge to the rule of law. The first part of the paper identifies the conditions under which this may occur. It sets out the basis for a conceptual and normative analysis underpinning the argument that procedural standards of participation can be considered part of the rule of law. As such, the depletion of procedural standards emerges as one facet of a broader problem – the ability of public law to structure discretion and constrain the exercise of authority that results from internationalised procedures. These intertwined decisionmaking procedures cutting across different levels of governance challenge law’s ability to limit executive action and, hence, the rule of law premise that the exercise of public authority ought to be limited by law. In this way, and despite its EU focus, the paper contributes to analysing the challenges and possibilities of the rule of law in the current realities of diffusion of power resulting from internationalisation. This perspective requires a re-conceptualisation of the decision-making procedures that operate the substantive coordination between the sites of governance involved. The processes through which inter- and transnational rules and decisions are received in EU law are only segments of a broader regulatory cycle initiated by inter- and transnational bodies – of which the receiving authorities are either members, observers, or, otherwise active collaborating parties. Such processes can neither be fully grasped by focusing only on the segments of decision-making developed within each legal system, nor can the challenges they pose to law be apprehended from this perspective. They ought to be seen in their entirety as segments of a broader regulatory cycle. On this basis, the second part of the paper proposes two possible routes to rethink internationalised procedures [less ▲]

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See detailThe Impact of Policy Interventions on Stock Liquidity
Lehnert, Thorsten UL; Busch, Thomas

E-print/Working paper (2013)

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See detailBibliographical references for the research corpus 'A rereading of the Werner Report of 8 October 1970 in the light of the Pierre Werner family archives'
Danescu, Elena UL; Mouton, Victoria UL

E-print/Working paper (2013)

This Bibliography is an output of the major research project dedicated to the European vocation and achievements of Pierre Werner, a former Prime Minister, Finance Minister and Foreign Minister of ... [more ▼]

This Bibliography is an output of the major research project dedicated to the European vocation and achievements of Pierre Werner, a former Prime Minister, Finance Minister and Foreign Minister of Luxembourg, unanimously recognised as one of the architects of Economic and Monetary Union. The first stage of the research was particularly focused on the plan for the establishment by stages of an economic and monetary union (more widely known as the Werner Report or the Werner Plan), drawn up by a group of experts chaired by Pierre Werner and officially presented on 8 October 1970 in Luxembourg. [less ▲]

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See detailThe index of an Eisenstein ideal of multiplicity one
Yoo, Hwajong UL

E-print/Working paper (2013)

Mazur’s fundamental work on Eisenstein ideals for prime level has a variety of arith- metic applications. In this article, we generalize his work to arbitrary square-free level. We compute the index of an ... [more ▼]

Mazur’s fundamental work on Eisenstein ideals for prime level has a variety of arith- metic applications. In this article, we generalize his work to arbitrary square-free level. We compute the index of an Eisenstein ideal and the dimension of the m-torsion of the modular Jacobian vari- ety, where m is an Eisenstein maximal ideal. In many cases, the dimension of the m-torsion is 2, in other words, multiplicity one theorem holds. [less ▲]

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See detailEstimation Risk in Option Pricing
Lehnert, Thorsten UL; Bams, Dennis; Blanchard, Gildas

E-print/Working paper (2013)

Detailed reference viewed: 59 (3 UL)
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See detailSpatial Segregation and Urban Structure
Picard, Pierre M. UL; Mossay, Pascal

E-print/Working paper (2013)

In this paper, we study social interactions between two populations of individuals living in a city. Agents consume land and benefit from intra- and inter-group social interactions. We show that in ... [more ▼]

In this paper, we study social interactions between two populations of individuals living in a city. Agents consume land and benefit from intra- and inter-group social interactions. We show that in equilibrium segregation arises: populations get separated in distinct spatial neighborhoods. Two- and three-district urban structures are characterized. For high population ratios or strong inter-group interactions, only a three-district city exists. In other cases, multiplicity of equilibria arises. Moreover, for sufficiently low population ratios or very weak inter-group interactions, all individuals agree on which spatial equilibrium is best. [less ▲]

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See detailVon der schulischen Segregation zur inklusiven Bildung? Die Wirkung der UN-Konvention über die Rechte von Menschen mit Behinderungen auf Bildungsreformen in Bayern und Schleswig-Holstein
Blanck, Jonna M.; Edelstein, Benjamin; Powell, Justin J W UL

E-print/Working paper (2013)

Germany has among the most highly stratified and segregated educational systems in Europe. Its differentiated special school system, in particular, exemplifies institutional inertia. Yet Article 24 of the ... [more ▼]

Germany has among the most highly stratified and segregated educational systems in Europe. Its differentiated special school system, in particular, exemplifies institutional inertia. Yet Article 24 of the United Nations Convention on the Rights of Disabled People (UN-CRPD), ratified in Germany in 2008, mandates implementation of inclusive education. To achieve the UN-CRPD’s goals, Germany’s sixteen Bundesländer must radically transform their education systems, whose structures remain antithetical to inclusive education. Examining education policy reform processes in two contrasting cases, we investigate four types of mechanisms of institutional reproduction responsible for path-dependent developments: power-based, legitimacy-based, utilitarian, and functional. We compare Schleswig-Holstein, where inclusive education has diffused broadly, with Bavaria, where implementation has stalled due to backlash and school segregation remains pervasive. Delving below the national level and emphasizing the importance of timing, we show contrasting effects of an exogenous shock on the direction of endogenous reforms. [less ▲]

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See detailDeclining bargaining power of workers and the rise of early retirement in Europe
Batyra, Anna; de la Croix, David; Pierrard, Olivier et al

E-print/Working paper (2013)

We offer an alternative explanation for the decline in labor force participation of senior workers. Typically, tax and transfer explanations have been proposed. On the contrary, a model with imperfectly ... [more ▼]

We offer an alternative explanation for the decline in labor force participation of senior workers. Typically, tax and transfer explanations have been proposed. On the contrary, a model with imperfectly competitive labor market allows to consider as well the effects of a drop in bargaining power, which would not be possible in a purely neoclassical framework. We find that a decline in the bargaining power of workers, which has taken place in the last four decades, has largely contributed to the rise in inactivity in Europe. However, we need a combination of these two explanations, along with population aging and a fall in the matching efficiency, in order to correctly reproduce the joint evolutions of other labor market variables such as the employment and unemployment rates. [less ▲]

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See detailThe quot functor of a quasi-coherent sheaf
Di Brino, Gennaro UL

E-print/Working paper (2013)

Detailed reference viewed: 37 (0 UL)
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See detailLa perception de la Grande Région SaarLorLux par les médias
Wiermer, Patrick; Caruso, Geoffrey UL; Helfer, Malte UL et al

E-print/Working paper (2013)

How do the media perceive the Greater Region on both sides of the borders? An analysis of the main regional daily newspapers was carried out in order to determine the media's informational centres and ... [more ▼]

How do the media perceive the Greater Region on both sides of the borders? An analysis of the main regional daily newspapers was carried out in order to determine the media's informational centres and peripheries, and to identify the predominant thematic axes. The map is based on the results of a dissertation written in 2008 by a student of the cultural geography department at Saarland University. [less ▲]

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See detailUpside down with the strong partial clones
Schölzel, Karsten UL

E-print/Working paper (2013)

Detailed reference viewed: 43 (5 UL)
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See detailArts vs Engineering:Choosing Consumption of and Investment in Education
Romano, Richard; Tampieri, Alessandro UL

E-print/Working paper (2013)

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See detailUn calcul d'anneaux de déformations potentiellement Barsotti--Tate
David, Agnès UL; Caruso, Xavier; Mézard, Ariane

E-print/Working paper (2013)

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See detailList of documents and references quoted in the study of the research corpus 'A rereading of the Werner Report of 8 October 1970 in the light of the Pierre Werner family archives'
Danescu, Elena UL; Mouton, Victoria UL

E-print/Working paper (2013)

This List of references and sources quoted in the research corpus concerning the Werner Report analysis is an output of the major research project dedicated to the European vocation and achievements of ... [more ▼]

This List of references and sources quoted in the research corpus concerning the Werner Report analysis is an output of the major research project dedicated to the European vocation and achievements of Pierre Werner, a former Prime Minister, Finance Minister and Foreign Minister of Luxembourg, unanimously recognised as one of the architects of Economic and Monetary Union. The first stage of the research was particularly focused on the plan for the establishment by stages of an economic and monetary union (more widely known as the Werner Report or the Werner Plan), drawn up by a group of experts chaired by Pierre Werner and officially presented on 8 October 1970 in Luxembourg. [less ▲]

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See detailCurrency Carry Trades and Funding Risk
Ferreira Filipe, Sara UL; Suominen, Matti UL

E-print/Working paper (2013)

In this paper, we measure currency carry trade funding risk using stock market volatility and crash risk in Japan, the main funding currency country. We show that the measures of funding risk in Japan can ... [more ▼]

In this paper, we measure currency carry trade funding risk using stock market volatility and crash risk in Japan, the main funding currency country. We show that the measures of funding risk in Japan can explain 42% of the monthly currency carry trade returns during our sample period, 2000-2011. In addition, they explain 64% of the monthly foreign exchange volatility in our sample of ten main currencies, 28% of the speculators' net currency futures positions in Australian dollar versus Japanese yen, skewness in currency returns and currency crashes. We present a theoretical model that is consistent with these findings. [less ▲]

Detailed reference viewed: 123 (1 UL)
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See detailExtensive and intensive margins and the choice of exchange rate regimes
Picard, Pierre M UL; Hamano, Masashige

E-print/Working paper (2013)

This paper studies how the choice of fixed or flexible exchange rate regimes is affected by the existence of intensive and extensive margins. We study two models where firms enter during or before each ... [more ▼]

This paper studies how the choice of fixed or flexible exchange rate regimes is affected by the existence of intensive and extensive margins. We study two models where firms enter during or before each period of production. We show how the the choice of those regimes depend on the level and the volatily of the intensive and extensive margins as well as on the congruence between consumers' preferences and the supply and diversity of products. We show that fixed exchange rate regimes are preferred for high enough labor supply elasticities. Fixed exchange rate regimes are unambigously better when entry occurs at the same time as production in each period. Fixed exchange rate regimes are less attractive in the presence of production lags and higher love of product diversity. [less ▲]

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See detailNational Parliaments After Lisbon: Towards Mainstreaming of EU Affairs?
Gattermann, Katjana; Högenauer, Anna-Lena UL; Huff, Ariella

E-print/Working paper (2013)

Detailed reference viewed: 130 (7 UL)
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See detailDimension Formulae for Spaces of Lifted Bianchi Modular Forms
Haluk Sengun, M.; Tsaknias, Panagiotis UL

E-print/Working paper (2013)

Detailed reference viewed: 39 (0 UL)
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See detailUniversal families of extensions of coherent systems
Tommasini, Matteo UL

E-print/Working paper (2013)

We prove a result of cohomology and base change for families of coherent systems over a curve. We use that in order to prove the existence of (non-split, non-degenerate) universal families of extensions ... [more ▼]

We prove a result of cohomology and base change for families of coherent systems over a curve. We use that in order to prove the existence of (non-split, non-degenerate) universal families of extensions for families of coherent systems (in the spirit of the paper "Universal families of extensions" by H. Lange). Such results will be applied in subsequent papers in order to describe the wallcrossing for some moduli spaces of coherent systems. [less ▲]

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See detailOn business cycles of variety and quality
Hamano, Masashige UL

E-print/Working paper (2013)

This paper explores the role played by product variety and quality in a real business cycle model. Firms are heterogeneous in terms of their speci c quality as well as pro- ductivity levels. Firms which ... [more ▼]

This paper explores the role played by product variety and quality in a real business cycle model. Firms are heterogeneous in terms of their speci c quality as well as pro- ductivity levels. Firms which have costly technology enter in a period of high aggregated demand and produce high quality goods. Thus, the average quality level and number of available varieties are procyclical, as in the data. The model can replicate the observed in flationary bias in the conventional Consumer Price Index due to a rise in the number of new product varieties and quality. [less ▲]

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See detailStudents Social Origins and Targeted Grade Inflation
Tampieri, Alessandro UL

E-print/Working paper (2013)

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See detailCommodities Inventory Effect
Carpantier, Jean-Francois UL; Dufays, Arnaud

E-print/Working paper (2013)

Does commodity price volatility increase when inventories are low? We are the first ones to document this relationship. To that aim, we estimate asymmetric volatility models for a large set of commodities ... [more ▼]

Does commodity price volatility increase when inventories are low? We are the first ones to document this relationship. To that aim, we estimate asymmetric volatility models for a large set of commodities over 1994-2011. Since inventories are hard to measure, especially for high frequency data, we use positive return shocks as a new original proxy for inventories and find that asymmetric GARCH models reveal a significant inventory effect for many commodities. The results look robust. They hold if we allow the unconditional variance to vary over time and if we relax the parametric form. [less ▲]

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See detailFrom tax evasion to tax planning
Bourgain, Arnaud UL; Pieretti, Patrice UL; Zanaj, Skerdilajda UL

E-print/Working paper (2013)

This paper analyzes within a simple model how a removal of bank secrecy can impact tax revenues and banks'profitability, assuming that offshore centers are able to offer sophisticated but legal, tax ... [more ▼]

This paper analyzes within a simple model how a removal of bank secrecy can impact tax revenues and banks'profitability, assuming that offshore centers are able to offer sophisticated but legal, tax planning. Two alternative regimes are considered. A first, in which there is strict bank secrecy and a second, where there is international information exchange for tax purposes. In particular, we show that sharing tax information with onshore countries can be a dominant strategy for an OFC if there is enough scope for providing tax planning. Moreover, a partial reduction of tax liabilities can already prompt OFCs to voluntarily exchange relevant tax information. We also discuss the conditions under which the possible removal of bank secrecy may reduce or increase the onshore country's tax revenue. [less ▲]

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See detailInventory of the institutional sources consulted for the research corpus 'A rereading of the Werner Report of 8 October 1970 in the light of the Pierre Werner family archives'
Danescu, Elena UL; Mouton, Victoria UL

E-print/Working paper (2013)

This Inventory of institutional sources consulted is an output of the major research project dedicated to the European vocation and achievements of Pierre Werner, a former Prime Minister, Finance Minister ... [more ▼]

This Inventory of institutional sources consulted is an output of the major research project dedicated to the European vocation and achievements of Pierre Werner, a former Prime Minister, Finance Minister and Foreign Minister of Luxembourg, unanimously recognised as one of the architects of Economic and Monetary Union. The first stage of the research was particularly focused on the plan for the establishment by stages of an economic and monetary union (more widely known as the Werner Report or the Werner Plan), drawn up by a group of experts chaired by Pierre Werner and officially presented on 8 October 1970 in Luxembourg. [less ▲]

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See detailThe Dynamics Implications of Liberalizing Global Migration
Delogu, Marco UL

E-print/Working paper (2013)

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See detailA Generalized Steady-State Growth Theorem
Irmen, Andreas UL

E-print/Working paper (2013)

Uzawa’s steady-state growth theorem (Uzawa (1961)) is generalized to a neoclassical economy that uses current output, e. g., to create technical progress or to manufacture intermediates. The difference ... [more ▼]

Uzawa’s steady-state growth theorem (Uzawa (1961)) is generalized to a neoclassical economy that uses current output, e. g., to create technical progress or to manufacture intermediates. The difference between aggregate final-good production and these resources is referred to as net output. The new generalized steady-state growth theorem holds since net output exhibits constant returns to scale in capital and labor. This insight provides an understanding for why technical change is labor-augmenting in steady state even if capital-augmenting technical change is feasible. By example, this point is made for three recent growth models that allow for endogenous capital- and labor-augmenting technical change, namely, Irmen (2013), Acemoglu (2003), and Acemoglu (2009), Chapter 15. The reduced form of these models is shown to be consistent with the generalized steady-state growth theorem. [less ▲]

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See detailExtensive and intensive margins and the choice of exchange rate regimes
Hamano, Masashige UL

E-print/Working paper (2013)

This paper studies how the choice of xed or exible exchange rate regimes is a¤ected by the existence of intensive and extensive margins. We study two models where rms enter during or before each period of ... [more ▼]

This paper studies how the choice of xed or exible exchange rate regimes is a¤ected by the existence of intensive and extensive margins. We study two models where rms enter during or before each period of production. We show how the choice of those regimes depend on the level and the volatily of the intensive and extensive margins as well as on the congruence between consumers preferences and the supply and diversity of products. We show that xed exchange rate regimes are preferred for high enough labor supply elasticities. Fixed exchange rate regimes are unambigously better when entry occurs at the same time as production in each period. Fixed exchange rate regimes are less attractive in the presence of production lags and higher love of product diversity. [less ▲]

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