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See detailAdventskalender, Tag 11: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 26 (0 UL)
See detailAdventskalender, Tag 8: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 28 (0 UL)
See detailAdventskalender, Tag 5: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 30 (2 UL)
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See detailWavelet Dynamic Conditional Correlation GARCH model : WDCC-GARCH
Nsaoudi, Ange; Terraza, Virginie UL

E-print/Working paper (2016)

Detailed reference viewed: 136 (3 UL)
See detailDecolonisation: geopolitical issues and impact on the European integration process
Mouton, Victoria UL; Gabellini, Marco UL; et al.

E-print/Working paper (2016)

The ePublication ‘Decolonisation: geopolitical issues and impact on the European integration process’ explores the key moments in the disintegration of the European colonial empires, with a particular ... [more ▼]

The ePublication ‘Decolonisation: geopolitical issues and impact on the European integration process’ explores the key moments in the disintegration of the European colonial empires, with a particular emphasis on French and British decolonisation, and looks at how this process of decolonisation influenced the European integration process. The ePublication begins by outlining the main stages in decolonisation after 1945, illustrated by specific examples. The Cold War and the increasing international condemnation of colonialism provided conditions that were ripe for indigenous peoples to gradually loosen the ties binding them to a Europe that was drained and in ruins following the Second World War. At the same time, the creation of the European Community forced the European powers to reconcile their overseas and European policies. The emergence of Third-World countries in the international arena changed relations between Europe and its (former) colonies and raised the question of a Community development aid policy. This ePublication therefore goes on to examine the debates that led in 1957 to the association of the overseas countries and territories (OCTs) with the European Economic Community (EEC), then to the signing of the Yaoundé Convention in 1963 and the Lomé Convention in 1975. A particular strength of the ePublication is the compilation and analysis of a rich, varied selection of more than 700 resources, including archive documents, press articles, correspondence, extracts from memoirs, photos and cartoons. [less ▲]

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See detailAdventskalender, Tag 7: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 36 (0 UL)
See detailAdventskalender, Tag 22: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

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See detailAdventskalender, Tag 15: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

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See detailMalaise in the Western Middle Classes
Chauvel, Louis UL; Hartung, Anne UL

E-print/Working paper (2016)

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See detailEurope’s Center of Science: Science Productivity in Belgium, France, Germany, and Luxembourg
Powell, Justin J W UL; Dusdal, Jennifer UL

E-print/Working paper (2016)

European countries have increasingly invested in higher education and science systems, leading to rising numbers of scholars and scientists, considerable infrastructure development, and dense cross ... [more ▼]

European countries have increasingly invested in higher education and science systems, leading to rising numbers of scholars and scientists, considerable infrastructure development, and dense cross-cultural networks and collaboration. The result: significant growth in scientific output and productivity in science, technology, engineering and math (STEM) fields. For four EU member states in Western Europe of different size and institutionalization pathways of science, we assess the development and current state of universities and research institutes, and the resulting science output. We measure output in peer-reviewed research articles collected in Thomson Reuters’ Science Citation Index Expanded (SCIE). Based on a comprehensive historical database, this comparison uncovers both stable and dynamic patterns of productivity from 1975 to 2010 in Germany, France, Belgium, and Luxembourg.[1] This emphasizes different institutionalization pathways that created the conditions necessary for continuous, but varying growth in scientific productivity in the European center of global science. Today, these countries invest considerably in research and development (R&D) and in higher education, the smaller ones doing so through a single national research university (Luxembourg), or a set of strong research universities in different regions (Belgium’s language communities of Flanders and Wallonia). The two larger countries (France and Germany) maintain differentiated systems of universities—of varying size and prestige—and extra-university research institutes that are connected in large umbrella associations or coordinated by government agencies. Rising science productivity reflects considerable state investment, yet the impact of any individual scientific article remains difficult to measure. [less ▲]

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See detailAdventskalender, Tag 20: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

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See detailGemeinwesenarbeit als relationale skalierungssensible Örtlichkeitsarbeit
Uhler, Nicolas; Haas, Claude UL; Marthaler, Thomas UL

E-print/Working paper (2016)

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See detailHow to discretize the differential forms on the interval
Bandiera, Ruggero; Schätz, Florian UL

E-print/Working paper (2016)

We provide explicit quasi-isomorphisms between the following three algebraic structures associated to the unit interval: i) the commutative dg algebra of differential forms, ii) the non-commutative dg ... [more ▼]

We provide explicit quasi-isomorphisms between the following three algebraic structures associated to the unit interval: i) the commutative dg algebra of differential forms, ii) the non-commutative dg algebra of simplicial cochains and iii) the Whitney forms, equipped with a homotopy commutative and homotopy associative, i.e. C-∞, algebra structure. Our main interest lies in a natural `discretization' C-∞ quasi-isomorphism φ from differential forms to Whitney forms. We establish a uniqueness result that implies that φ coincides with the morphism from homotopy transfer, and obtain several explicit formulas for φ, all of which are related to the Magnus expansion. In particular, we recover combinatorial formulas for the Magnus expansion due to Mielnik and Plebanski. [less ▲]

Detailed reference viewed: 59 (2 UL)
See detailAdventskalender, Tag 18: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

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See detailModuli stacks of algebraic structures and deformation theory
Yalin, Sinan UL

E-print/Working paper (2016)

Detailed reference viewed: 72 (0 UL)
See detailAdventskalender, Tag 4: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

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See detailDistributed Processing of Generalized Graph-Pattern Queries in SPARQL 1.1
Gurajada, Sairam; Theobald, Martin UL

E-print/Working paper (2016)

Detailed reference viewed: 77 (7 UL)
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See detailLearning Tuple Probabilities
Dylla, Maximilian; Theobald, Martin UL

E-print/Working paper (2016)

Detailed reference viewed: 104 (22 UL)
See detailAdventskalender, Tag 21: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 28 (0 UL)
See detailAdventskalender, Tag 16: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 34 (0 UL)
See detailAdventskalender, Tag 10: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 38 (0 UL)
See detailAdventskalender, Tag 23: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 25 (0 UL)
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See detailThe Frobenius theorem for Z^n_2-supermanifolds
Covolo, Tiffany UL; Kwok, Stephen UL; Poncin, Norbert UL

E-print/Working paper (2016)

Detailed reference viewed: 114 (3 UL)
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See detailPoisson cohomology of holomorphic toric Poisson manifolds
Hong, Wei UL

E-print/Working paper (2016)

Detailed reference viewed: 63 (0 UL)
See detailAdventskalender, Tag 14: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 25 (0 UL)
See detailAdventskalender, Tag 13: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 33 (0 UL)
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See detailOptimal Income Taxation for the Alleviation of Working-Poverty When Domestic Work is Rewarded
Chen, Xi; Salagean, Ioana; Zou, Benteng UL

E-print/Working paper (2016)

The increase in income needed for working households to escape relative poverty may be achieved either by households supplying more hours of paid work on the labor market, or by policy makers adjusting ... [more ▼]

The increase in income needed for working households to escape relative poverty may be achieved either by households supplying more hours of paid work on the labor market, or by policy makers adjusting income taxation, minimum wages and social transfers targeted at working households. While past work has given considerable attention to the latter policy instruments, theoretical work on how income taxation could minimize working-poverty is scarce. Our study aims to fill this gap. Unlike the traditional optimal income taxation literature, which considers that households allocate time only between consumption and leisure, we explicitly model households’ decisions as including domestic work, which is a social contribution and should be rewarded. This new framework highlights (i) the importance of emphasizing the difference between domestic work and real leisure and, (ii) the policy implications of non-market time allocation. [less ▲]

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See detailAdventskalender, Tag 24: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 23 (0 UL)
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See detailWeak poincaré inequality for convolution probability measures
Cheng, Li Juan UL; Zhang, Shao Qin

E-print/Working paper (2016)

In this article, weak Poincaré inequalities are established for convolution measures by using Lyapunov conditions. As applications, these results are further applied to some explicit cases.

Detailed reference viewed: 83 (12 UL)
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See detailEndogenous Factor Income Distribution - When Piketty meets Romer -
Irmen, Andreas UL; Tabakovic, Amer UL

E-print/Working paper (2016)

We scrutinize Thomas Piketty’s (2014) theory concerning the relationship between an economy’s long-run growth rate, its capital-income ratio, and its factor income distribution put forth in his recent ... [more ▼]

We scrutinize Thomas Piketty’s (2014) theory concerning the relationship between an economy’s long-run growth rate, its capital-income ratio, and its factor income distribution put forth in his recent book Capital in the Twenty-First Century. We find that a smaller long-run growth rate may be associated with a smaller capital-income ratio. Hence, the key implication of Piketty’s Second Fundamental Law of Capitalism does not hold. In line with Piketty’s theory a smaller long-run growth rate may go together with a greater capital share. However, the mechanics behind this result are the opposite of what Piketty suggests. Our findings obtain in variants of Romer’s (1990) seminal model of endogenous technological change. Here, both the economy’s savings rate and its growth rate are endogenous variables whereas in Piketty’s theory they are both exogenous parameters. Including demographic growth in the spirit of Jones (1995) shows that a smaller growth rate of the economy may imply a lower capital share contradicting a central claim in Piketty’s book. [less ▲]

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See detailDie Karte des luxemburgisch-kurtrierischen Grenzverlaufs aus dem Jahr 1776 – Ein Meisterwerk der Kartographie des späten Ancien Régime und eine faszinierende Quelle für die Landesgeschichte
Uhrmacher, Martin UL

E-print/Working paper (2016)

Das Nationalarchiv hat drei außergewöhnliche Dokumente aus dem Jahr 1776 online gestellt. Hierbei handelt es sich um zwei sehr große Karten (7,1m x 2m ; 3,3m x 2,1m), die den Grenzverlauf zwischen ... [more ▼]

Das Nationalarchiv hat drei außergewöhnliche Dokumente aus dem Jahr 1776 online gestellt. Hierbei handelt es sich um zwei sehr große Karten (7,1m x 2m ; 3,3m x 2,1m), die den Grenzverlauf zwischen Luxemburg und dem Kurfürstentum Trier zeigen. Sie wurden vom Ingenieur Bergé, Oberleutnant der österreichischen Armee, gezeichnet und mit Hilfe des Fotografen Tom Lucas und des Musée Dräi Eechelen digitalisiert. Hinzu kommt ein historisches Dokument von 325 Seiten in dem die auf den Karten abgebildete Grenze in Frage gestellt wird. Beide Karten sind aufgrund ihrer Größe nur schwer einsehbar, stellen aber eine wichtige Quelle für die Geschichte Luxemburgs dar und sind reich an Informationen, Details und Farben. Martin Uhrmacher, Dozent und Forscher an der Universität Luxemburg und Experte auf dem Gebiet der historischen Kartographie, hat beide Karten in diesem Beitrag ausführlich analysiert. [less ▲]

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See detailMultiscale hedge ratio between the spot and future prices of carbon: Wavelet Based Approach
Nsouadi, Ange; Terraza, Virginie UL

E-print/Working paper (2016)

Detailed reference viewed: 139 (9 UL)
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See detailpopulation Aging and Inventive Activity
Irmen, Andreas UL; Litina, Anastasia UL

E-print/Working paper (2016)

This research empirically establishes and theoretically motivates the hypothesis that population aging has a hump-shaped effect on inventive activity. We estimate this hump-shaped relationship in a panel ... [more ▼]

This research empirically establishes and theoretically motivates the hypothesis that population aging has a hump-shaped effect on inventive activity. We estimate this hump-shaped relationship in a panel of 33 OECD countries over the period 1960-2012. The increasing part of the hump captures the awareness that population aging requires inventive activity to guarantee current and future standards of living. The decreasing part reflects the tendency of aging societies to lose dynamism and the willingness to take risks. Policy-wise our analysis suggests that raising the awareness of individuals about the consequences of population aging may facilitate the adoption of strategies and policies encouraging inventive activity and economic growth. [less ▲]

Detailed reference viewed: 104 (2 UL)
See detailAttractors in spacetimes and time functions
Monclair, Daniel UL

E-print/Working paper (2016)

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See detailHybrid mesh/particle meshless method for modeling geological flows with discontinuous transport properties
Bourantas, Georgios UL; Lavier, Luc; van Dam, Tonie UL et al

E-print/Working paper (2016)

In the present paper, we introduce the Finite Difference Method-Meshless Method (FDM-MM) in the context of geodynamical simulations. The proposed numerical scheme relies on the well-established FD method ... [more ▼]

In the present paper, we introduce the Finite Difference Method-Meshless Method (FDM-MM) in the context of geodynamical simulations. The proposed numerical scheme relies on the well-established FD method along with the newly developed “meshless” method and, is considered as a hybrid Eulerian/Lagrangian scheme. Mass, momentum, and energy equations are solved using an FDM method, while material properties are distributed over a set of markers (particles), which represent the spatial domain, with the solution interpolated back to the Eulerian grid. The proposed scheme is capable of solving flow equations (Stokes flow) in uniform geometries with particles, “sprinkled” in the spatial domain and is used to solve convection- diffusion problems avoiding the oscillation produced in the Eulerian approach. The resulting algebraic linear systems were solved using direct solvers. Our hybrid approach can capture sharp variations of stresses and thermal gradients in problems with a strongly variable viscosity and thermal conductivity as demonstrated through various benchmarking test cases. The present hybrid approach allows for the accurate calculation of fine thermal structures, offering local type adaptivity through the flexibility of the particle method. [less ▲]

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See detailBorders : conceptual framework
Roelens, Nathalie UL

E-print/Working paper (2016)

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See detailBorderscape as an Interdisciplinary Concept - Compte rendu du colloque
Jeusette, Julien UL

E-print/Working paper (2016)

Detailed reference viewed: 111 (6 UL)
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See detailUntraceable VoIP Communication based on DC-nets
Franck, Christian UL; Sorger, Ulrich UL

E-print/Working paper (2016)

Untraceable communication is about hiding the identity of the sender or the recipient of a message. Currently most systems used in practice (e.g., TOR) rely on the principle that a message is routed via ... [more ▼]

Untraceable communication is about hiding the identity of the sender or the recipient of a message. Currently most systems used in practice (e.g., TOR) rely on the principle that a message is routed via several relays to obfuscate its path through the network. However, as this increases the end-to-end latency it is not ideal for applications like Voice-over-IP (VoIP) communication, where participants will notice annoying delays if the data does not arrive fast enough. We propose an approach based on the paradigm of Dining Cryptographer networks (DC-nets) that can be used to realize untraceable communication within small groups. The main features of our approach are low latency and resilience to packet-loss and fault packets sent by malicious players. We consider the special case of VoIP communication and propose techniques for a P2P implementation. We expose existing problems and sketch possible future large-scale systems composed of multiple groups. [less ▲]

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Peer Reviewed
See detailTurkish Immigration Politics and the Syrian Refugee Crisis
Hoffmann, Sophia; Samuk, Sahizer UL

E-print/Working paper (2016)

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See detailPolitical Economics of Fiscal Consolidations and External Sovereign Accidents
Achury, Carolina; Koulovatianos, Christos UL; Tsoukalas, John

E-print/Working paper (2016)

As the recent chain of EU sovereign crises has demonstrated, after an unexpected massive rise to the debt GDP ratio, several EU countries manage to proceed with fiscal consolidation quickly and ... [more ▼]

As the recent chain of EU sovereign crises has demonstrated, after an unexpected massive rise to the debt GDP ratio, several EU countries manage to proceed with fiscal consolidation quickly and effectively, while other countries, notably Greece, proceed slowly, fueling Graccident and Grexit scenarios, even after generous rescue packages, involving debt haircuts and monitoring from official bodies. Here we recursively formulate a game among rent-seeking groups and propose that high debt-GDP ratios lead to predictable miscoordination among rent-seeking groups, unsustainable debt dynamics, and open the path to political accidents that foretell Graccident scenarios. Our analysis and application helps in under- standing the politico-economic sustainability of sovereign rescues, emphasizing the need for fiscal targets and possible debt haircuts. We provide a calibrated example that quantifies the threshold debt-GDP ratio at 137%, remarkably close to the target set for private sector involvement in the case of Greece. [less ▲]

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See detailIncome Effects and Vertical Differentiation in International Trade
Picard, Pierre M UL; Tampieri, Alessandro

E-print/Working paper (2016)

We analyse a trade model with non-homothetic preferences and different quality ver- sions of each product. Income effects drive the quality composition of consumption, pro- duction and trade flows. We ... [more ▼]

We analyse a trade model with non-homothetic preferences and different quality ver- sions of each product. Income effects drive the quality composition of consumption, pro- duction and trade flows. We show that a rise in local population fosters local asymmetric specialization in high-quality production and exports while it harms low income groups. By contrast, an increase in local productivity may generate specialization in high quality production, which in turn may trigger an immiserizing growth process. Weaker compa- rative advantages induce firm to move and make a local productivity improvement more likely to increase production of higher quality goods everywhere. [less ▲]

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See detailAdventskalender, Tag 12: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

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See detailIntegration on colored supermanifolds
Grabowski, Janusz; Kwok, Stephen UL; Poncin, Norbert UL

E-print/Working paper (2016)

Detailed reference viewed: 83 (6 UL)
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See detailKrichever-Novikov type algebras and Wess-Zumino-Witten models
Schlichenmaier, Martin UL

E-print/Working paper (2015)

Krichever--Novikov type algebras are generalizations of the Witt, Virasoro, affine Lie algebras, and their relatives to Riemann surfaces of arbitrary genus and/or the multi-point situation. They play a ... [more ▼]

Krichever--Novikov type algebras are generalizations of the Witt, Virasoro, affine Lie algebras, and their relatives to Riemann surfaces of arbitrary genus and/or the multi-point situation. They play a very important role in the context of quantization of Conformal Field Theory. In this review we give the most important results about their structure, almost-grading and central extensions. Furthermore, we explain how they are used in the context of Wess--Zumino--Novikov--Witten models, respectively Knizhnik-Zamolodchikov connections. There they play a role as gauge algebras, as tangent directions to the moduli spaces, and as Sugawara operators. [less ▲]

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See detailOn four Koszul-Tate resolutions
Pistalo, Damjan UL; Poncin, Norbert UL

E-print/Working paper (2015)

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Peer Reviewed
See detailAuswertung der Selbstevaluation des IDENT2-Projekts (2011-2014)
Reckinger, Rachel UL

E-print/Working paper (2015)

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See detailArbeitszufriedenheit der Arbeitnehmer in Luxemburg
Sischka, Philipp UL; Steffgen, Georges UL

E-print/Working paper (2015)

Die Arbeitszufriedenheit der Arbeitnehmer in Luxemburg hat sich von 2013 zu 2014 insgesamt verringert. Von diesem Rückgang waren insbesondere Arbeitnehmer in der Altersklasse der 45-54 Jährigen ... [more ▼]

Die Arbeitszufriedenheit der Arbeitnehmer in Luxemburg hat sich von 2013 zu 2014 insgesamt verringert. Von diesem Rückgang waren insbesondere Arbeitnehmer in der Altersklasse der 45-54 Jährigen, Arbeitnehmer mit portugiesischer Nationalität sowie in Belgien wohnhafte Arbeitnehmer betroffen. Die Veränderungen von 2014 zu 2015 fallen insgesamt moderater aus. Innerhalb dieses Zeitraums nimmt die Arbeitszufriedenheit der 16-24 Jährigen jedoch relativ stark ab. Arbeitnehmer mit portugiesischer Nationalität steigen in ihrer Arbeitszufriedenheit dagegen wieder an. Zu keinem der drei Erhebungszeitpunkte sind hinsichtlich der Arbeitszufriedenheit Unterschiede zwischen Männern und Frauen sowie zwischen Arbeitnehmern in Vollzeit und in Teilzeit festzustellen. Insgesamt berichten Manager und Führungskräfte sowie Arbeitnehmer in akademischen Berufen im Jahr 2015 über die höchste Arbeitszufriedenheit, dagegen Arbeitnehmer, die Anlagen und Maschinen bedienen sowie Arbeitnehmer, die in Land- und Forstwirtschaft beschäftigt sind, über die geringste Arbeitszufriedenheit. [less ▲]

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See detailValuing American options using fast recursive projections
Cosma, Antonio UL; Galluccio, Stefano; Pederzoli, Paola et al

E-print/Working paper (2015)

We introduce a fast and widely applicable numerical pricing method that uses recursive projections. We characterize its convergence speed. We find that the early exercise boundary of an American call ... [more ▼]

We introduce a fast and widely applicable numerical pricing method that uses recursive projections. We characterize its convergence speed. We find that the early exercise boundary of an American call option on a discrete dividend paying stock is higher under the Merton and Heston models than under the Black-Scholes model, as opposed to the continuous dividend case. A large database of call options on stocks with quarterly dividends shows that adding stochastic volatility and jumps to the Black-Scholes benchmark reduces the amount foregone by call holders failing to optimally exercise by 25%. Transaction fees cannot fully explain the suboptimal behavior. [less ▲]

Detailed reference viewed: 139 (9 UL)
See detailLet's Talk Business: The Economic Impact of Brexit
Herzog, Mechthild UL

E-print/Working paper (2015)

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See detailVictimization and Safety in Luxembourg - Findings of the "Enquête sur la sécurité 2013"
Heinz, Andreas UL; Steffgen, Georges UL; Willems, Helmut UL

E-print/Working paper (2015)

Cette publication présente les principaux résultats de « l'Enquête sur la sécurité 2013 » réalisée au Luxembourg par le STATEC et l'Université du Luxembourg/INSIDE. Les principaux objectifs de l’enquête ... [more ▼]

Cette publication présente les principaux résultats de « l'Enquête sur la sécurité 2013 » réalisée au Luxembourg par le STATEC et l'Université du Luxembourg/INSIDE. Les principaux objectifs de l’enquête étaient de mesurer les taux de prévalence des délits de droit commun et de sonder les comportements relatifs à la délinquance et la sécurité. [less ▲]

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See detailDesperately Seeking Small Worlds in Corporate Boards: International Evidence from Listed Firms
Hamadi, Malika; Heinen, Andreas; Jonard, Nicolas UL et al

E-print/Working paper (2015)

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See detailProps of ribbon graphs, involutive Lie bialgebras and moduli spaces of curves M_g,n
Merkulov, Sergei UL; Willwacher, Thomas

E-print/Working paper (2015)

We establish a new and surprisingly strong link between two previously unrelated theories: the theory of moduli spaces of curves $\cM_{g,n}$ (which, according to Penner, is controlled by the ribbon graph ... [more ▼]

We establish a new and surprisingly strong link between two previously unrelated theories: the theory of moduli spaces of curves $\cM_{g,n}$ (which, according to Penner, is controlled by the ribbon graph complex) and the homotopy theory of $E_d$ operads (controlled by ordinary graph complexes with no ribbon structure, introduced first by Kontsevich). The link between the two goes through a new intermediate {\em stable}\, ribbon graph complex which has roots in the deformation theory of quantum $A_\infty$ algebras and the theory of Kontsevich compactifications of moduli spaces of curves $\overline{\cM}_{g,n}^K$. Using a new prop of ribbon graphs and the fact that it contains the prop of involutive Lie bialgebras as a subprop we find new algebraic structures on the classical ribbon graph complex computing $H^\bu(\cM_{g,n})$. We use them to prove Comparison Theorems, and in particular to construct a non-trivial map from the ordinary to the ribbon graph cohomology. On the technical side, we construct a functor $\f$ from the category of prop(erad)s to the category of operads. If a properad $\cP$ is in addition equipped with a map from the properad governing Lie bialgebras (or graded versions thereof), then we define a notion of $\cP$-``graph'' complex, of stable $\cP$-graph complex and a certain operad, that is in good cases an $E_d$ operad. In the ribbon case, this latter operad acts on the deformation complexes of any quantum $A_\infty$-algebra. We also prove that there is a highly non-trivial, in general, action of the Grothendieck-Teichm\"uller group $GRT_1$ on the space of so-called {\em non-commutative Poisson structures}\, on any vector space $W$ equipped with a degree $-1$ symplectic form (which interpolate between cyclic $A_\infty$ structures in $W$ and ordinary polynomial Poisson structures on $W$ as an affine space). [less ▲]

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See detailFinancing Patterns of European SMEs: An Empirical Taxonomy
Moritz, Alexandra; Block, Joern; Heinz, Andreas UL

E-print/Working paper (2015)

This EIF Working Paper takes a holistic approach to investigate SME financing patterns in Europe by performing a cluster analysis including 12,726 SMEs in 28 European countries. The results reveal that ... [more ▼]

This EIF Working Paper takes a holistic approach to investigate SME financing patterns in Europe by performing a cluster analysis including 12,726 SMEs in 28 European countries. The results reveal that SME financing in Europe is not homogenous but that different financing patterns exist. The cluster analysis identifies six distinct SME financing types: mixed-financed SMEs, state-subsidised SMEs, debt-financed SMEs, flexible-debt-financed SMEs, trade-financed SMEs and internally-financed SMEs. These SME financingtypes differ according to the number of financing instruments used and the combinations thereof. Furthermore, the SME financing types can be profiled according to their firm-, product-, industry- and country- specific characteristics. Our findings can support policy makers in assessing the impact of policy changes on SME financing and in designing financing programs tailored to the specific needs of SMEs. [less ▲]

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See detailN point Virasoro algebras considered as Krichever-Novikov type algebras
Schlichenmaier, Martin UL

E-print/Working paper (2015)

We explain how the recently again discussed $N$-point Witt, Virasoro, and affine Lie algebras are genus zero examples of the multi-point versions of Krichever--Novikov type algebras as introduced and ... [more ▼]

We explain how the recently again discussed $N$-point Witt, Virasoro, and affine Lie algebras are genus zero examples of the multi-point versions of Krichever--Novikov type algebras as introduced and studied by Schlichenmaier. Using this more general point of view, useful structural insights and an easier access to calculations can be obtained. As example, explicit expressions for the three-point situation are given. This is a write-up of a talk presented at the Bialowieza meeting in 2015. Details can be found in a recent manuscript by the author. [less ▲]

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See detailThe Demand for Diversification in Incomplete Markets
Mehra, Rajnish UL; Wahal, Sunil; Xie, Daruo

E-print/Working paper (2015)

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See detailInflation Aversion in the European Union: Exploring the Myth of a North-South Divide
Howarth, David UL; Rommerskirchen, Charlotte

E-print/Working paper (2015)

Our study seeks to prove that German Stability Culture is a myth. The concept is a core legitimizing element of economic policy discourse in Germany and used regularly to juxtapose Germany and northern ... [more ▼]

Our study seeks to prove that German Stability Culture is a myth. The concept is a core legitimizing element of economic policy discourse in Germany and used regularly to juxtapose Germany and northern Europe and the euro area periphery. Using Eurobarometer surveys we construct a measurement for Stability Culture which is based on the priority assigned to the fight against inflation. Our empirical analysis covers the 2002 to 2010 timespan and includes 27 European Union Member States. Our results show that the distinction between northern states with an allegedly strong and southern states with an allegedly weak Stability Culture is a myth. Controlling for actual inflation, we find that the northern Member States with an allegedly high Stability Culture are less concerned with price stability than the rest of the EU. [less ▲]

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See detailCentrality of regions in R&D networks: Conceptual clarifications and a new measure
Berge, Laurent UL; Wanzenböck, Iris; Scherngell, Thomas

E-print/Working paper (2015)

This paper aims at introducing a novel measure of regional centrality in the context of R&D networks. We first demonstrate some substantial problems of SNA-based centrality measures to cope with regional ... [more ▼]

This paper aims at introducing a novel measure of regional centrality in the context of R&D networks. We first demonstrate some substantial problems of SNA-based centrality measures to cope with regional R&D networks in a meaningful way. Then, we introduce a new measurement approach of regional network centrality based on the concept of inter-regional bridging paths (indirect connections at the regional level). We show that the formal definition of our regional bridging centrality measure can be expressed in terms of three simple components: the participation intensity of a region in inter-regional R&D collaborations, the relative outward orientation in terms of all established links and the diversification of R&D collaborations among partner regions. We illustrate the measure and its behaviour with respect to other conventional centrality measures by using the European co-patent network at the NUTS 2 level. [less ▲]

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See detailAssessing and Improving the Mutation Testing Practice of PIT
Laurent, Thomas; Ventresque, Anthony; Papadakis, Mike UL et al

E-print/Working paper (2015)

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See detailA Polyakov formula for sectors
Aldana Dominguez, Clara Lucia UL; Rowlett, Julie

E-print/Working paper (2015)

We consider finite area convex Euclidean circular sectors. We prove a variational Polyakov formula which shows how the zeta-regularized determinant of the Laplacian varies with respect to the opening ... [more ▼]

We consider finite area convex Euclidean circular sectors. We prove a variational Polyakov formula which shows how the zeta-regularized determinant of the Laplacian varies with respect to the opening angle. Varying the angle corresponds to a conformal deformation in the direction of a conformal factor with a logarithmic singularity at the corner. As an application of the method, we obtain an analogues Polyakov formula for a surface with one conical singularity. We compute the zeta-regularized determinant of rectangular domains of fixed area and prove that it is uniquely maximized by the square. [less ▲]

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See detailWeyl type quantization for some symplectic symmetric spaces
Korvers, Stéphane UL

E-print/Working paper (2015)

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See detailOn rationality of certian type A Galois representations
Hui, Chun Yin UL

E-print/Working paper (2015)

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See detailAdelic openness without the Mumford-Tate conjecture
Hui, Chun Yin UL; Larsen, Michael

E-print/Working paper (2015)

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See detailOn the Distribution of Frobenius of Weight 2 Eigenforms with Quadratic Coefficient Field
Van Hirtum, Jasper UL

E-print/Working paper (2015)

In this article we present a heuristic model that describes the asymptotic behaviour of the number of primes p such that the p-th coefficient of a given eigenform is a rational integer. We treat the case ... [more ▼]

In this article we present a heuristic model that describes the asymptotic behaviour of the number of primes p such that the p-th coefficient of a given eigenform is a rational integer. We treat the case of a weight 2 eigenform with quadratic coefficient field without inner twists. Moreover we present numerical data which agrees with our model and the assumptions we made to obtain it. [less ▲]

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See detailAirport Congestion and Inefficiency in Slot Allocation
Picard, Pierre M UL; Tampieri, Alessandro UL; Wan, Xi

E-print/Working paper (2015)

This paper analyzes optimal slot allocation in the presence of airport congestion. We model peak and offpeak slots as vertically differentiated products, and congestion limits the number of peak slots ... [more ▼]

This paper analyzes optimal slot allocation in the presence of airport congestion. We model peak and offpeak slots as vertically differentiated products, and congestion limits the number of peak slots that the airport can allocate. Inefficiency emerges when the airport does not exploit all its slots. We show that for a private airport, inefficiency may arise if the airport is not too congested and the per-passenger fee is small enough, while with a public airport it does not emerge. Furthermore the airport, irrespective of its ownership, tends to give different slots to flights with same destination if the underlying market is a duopoly, and a single slot if the underlying market is served by a monopoly. [less ▲]

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See detailRemittance and Migration Prospects for the Twenty-First Century
Machado Carneiro, Joël UL; Docquier, Frédéric

E-print/Working paper (2015)

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See detailThe Comparative Political Economy of Basel III
Howarth, David UL; Quaglia, Lucia UL

E-print/Working paper (2015)

The Basel III Accord was the centerpiece of the international regulatory response to the global financial crisis, setting new capital requirements for internationally active banks. This paper explains the ... [more ▼]

The Basel III Accord was the centerpiece of the international regulatory response to the global financial crisis, setting new capital requirements for internationally active banks. This paper explains the divergent preferences on Basel III of national regulators in three countries that approximate what are frequently presented as distinct varieties of capitalism in Europe – Germany, the United Kingdom and France. It is argued that national regulators faced a ‘trilemma’ in setting capital requirements, having to prioritize among banking sector stability, the competitiveness of national banks and short to medium term economic growth. Different varieties of national financial system – specifically, banking system and different kinds of ‘banking champions’ – explain the different prioritization of objectives in the ‘trilemma’ and hence for the divergent preferences of national regulators on Basel III capital requirements. [less ▲]

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See detailThe Pessimism Factor: SEC EDGAR Form 10-K Textual Analysis and Stock Returns
Chouliaras, Andreas UL

E-print/Working paper (2015)

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See detail8pi-periodic Josephson effect in time-reversal invariant interacting Rashba nanowires
Pedder, Christopher UL; Meng, Tobias; Tiwari, Rakesh et al

E-print/Working paper (2015)

We investigate narrow quantum wires with strong Rashba spin-orbit coupling and electron-electron interactions. We show that virtual transitions between subbands lead to umklapp scattering which can open a ... [more ▼]

We investigate narrow quantum wires with strong Rashba spin-orbit coupling and electron-electron interactions. We show that virtual transitions between subbands lead to umklapp scattering which can open a partial gap in the spectrum even in the presence of time-reversal symmetry. Using the superconducting proximity effect to gap out the remaining modes, we show that the system can host zero-energy states at its edges, which are protected by time-reversal symmetry. We present the parameter regime in which these bound states will emerge. Similarly to Majorana bound states, they will produce a zero-bias peak in the differential conductance. In contrast to the Majorana fermions, however, their fourfold degeneracy leads to an 8π periodicity of the Josephson current due to tunneling of fractionalized excitations with charge e/2. [less ▲]

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See detailTriple-A rating? Juncker's vision for the EU's social policy scorecard
Herzog, Mechthild UL

E-print/Working paper (2015)

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See detailN-point Virasoro algebras are multi-point Krichever--Novikov type algebras
Schlichenmaier, Martin UL

E-print/Working paper (2015)

We show how the recently again discussed $N$-point Witt, Virasoro, and affine Lie algebras are genus zero examples of the multi-point versions of Krichever--Novikov type algebras as introduced and studied ... [more ▼]

We show how the recently again discussed $N$-point Witt, Virasoro, and affine Lie algebras are genus zero examples of the multi-point versions of Krichever--Novikov type algebras as introduced and studied by Schlichenmaier. Using this more general point of view, useful structural insights and an easier access to calculations can be obtained. The concept of almost-grading will yield information about triangular decompositions which are of importance in the theory of representations. As examples the algebra of functions, vector fields, differential operators, current algebras, affine Lie algebras, Lie superalgebras and their central extensions are studied. Very detailed calculations for the three-point case are given. [less ▲]

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See detailPension insecurity and well-being in Europe
Olivera Angulo, Javier UL; Ponomarenko, Valentina UL

E-print/Working paper (2015)

This paper studies pension insecurity in a sample of non-retired individuals aged 50 years or older from 18 European countries. We relate pension insecurity with the subjective expectations on the ... [more ▼]

This paper studies pension insecurity in a sample of non-retired individuals aged 50 years or older from 18 European countries. We relate pension insecurity with the subjective expectations on the probability that the government will reduce the pensions of the individual before retirement or will increase the statutory retirement age. We argue that changes in economic conditions and policy affect the formation of such probabilities, and through this, subjective wellbeing. In particular, we study the effects of pension insecurity on subjective wellbeing with pooled OLS models, regressions per quintiles and instrumental variables. We find a statistically significant, stable and negative association between pension insecurity and subjective wellbeing. The quintile regressions allow us to establish that pension insecurity is more salient for individuals who are poorer, who subjectively assess their life survival rate as low and who have higher cognitive abilities. [less ▲]

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See detailWell-being differences in old-age in Europe: the Active Ageing Index by cohorts
Olivera Angulo, Javier UL

E-print/Working paper (2015)

The goal of this paper is to study and explain the differences in wellbeing in old age across cohorts and countries in Europe. This is done with the replication of the Active Ageing Index for cohorts ... [more ▼]

The goal of this paper is to study and explain the differences in wellbeing in old age across cohorts and countries in Europe. This is done with the replication of the Active Ageing Index for cohorts formed by age group, sex and country for 2012. The analysis is performed with different model regressions at the cohort level and introducing macro variables at the country level. In general, there is a gap in active ageing in detriment of females which is larger in older cohorts. In addition, wealth, equity and pension settings of the country are important predictors for better active ageing. Finally, it is found that the Social-Democratic welfare regime (Nordic countries) with its set of strong redistributive policies, is the most favourable system for active ageing. [less ▲]

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See detailUrban social structure, social capital and spatial proximity
Patacchini, Eleonora; Picard, Pierre M UL; Zenou, Yves

E-print/Working paper (2015)

We develop a theoretical model where the existence and intensity of dyadic contacts depend on location. We show that agents tend to interact more with agents that are highly central in the network of ... [more ▼]

We develop a theoretical model where the existence and intensity of dyadic contacts depend on location. We show that agents tend to interact more with agents that are highly central in the network of social contacts and that are geographically closer. Using a unique geo-coded dataset of friendship networks in the United States, we find evidence consistent with this model. The main empirical challenge, which is the possible endogenous network formation, is tackled by employing a Bayesian methodology that allows to estimate simultaneously network formation and intensity of network contacts. [less ▲]

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See detailTrade Credit and firm Comovements
Pisa, Magdalena UL; Bos, Jaap; Bams, Dennis

E-print/Working paper (2015)

This paper provides evidence that production linkages, as well as credit chains (represented by trade credit), are important for the transmission of idiosyncratic (firm-level) shocks across firms in the ... [more ▼]

This paper provides evidence that production linkages, as well as credit chains (represented by trade credit), are important for the transmission of idiosyncratic (firm-level) shocks across firms in the economy. We build on the idea that trade credit develops along production linkages, and amplifies the idiosyncratic shock as firms may lack inputs and also liquidity. Using disaggregated firm-level data we show that the disturbance of customer's sales increases with greater trade credit linkage. We show that during a recession the existence of trade credit linkage propagates shocks upstream, from a supplier onto its upstream customer. In these periods, firms are short of liquidity and are unable to withstand a drop in trade credit provision. In good times, however, trade credit plays a stabilizing role, reducing the volatility of firms' sales. In these periods, firms with sufficient liquidity are able to transfer some of it to liquidity-starved production partners in order to guarantee their own stable production. [less ▲]

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See detailZur Bedeutung der Tiermetaphorik in der Verschränkung von Ökonomie & Gender bei Jelinek
Bloch, Natalie UL; Pelka, Artur

E-print/Working paper (2015)

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See detailRegards sur les cambriolages et les tentatives de cambriolages
Heinz, Andreas UL; Steffgen, Georges UL; Frising, Armande et al

E-print/Working paper (2015)

Selon l’enquête sur la sécurité 2013, 10% des ménages ont été victimes d’un cambriolage et 9% ont subi une tentative de cambriolage au cours des 5 dernières années. Il s’agit d’introductions ou de ... [more ▼]

Selon l’enquête sur la sécurité 2013, 10% des ménages ont été victimes d’un cambriolage et 9% ont subi une tentative de cambriolage au cours des 5 dernières années. Il s’agit d’introductions ou de tentatives d’introduction dans leur bien immobilier au Luxembourg ou à l’étranger. La grande majorité des effractions (83%) a eu lieu au Grand-Duché et près d’un tiers (35%) se sont produites entre 22h et 6h. Dans 73% des cas, l’habitation était visée ; les installations extérieures, annexes et abris de jardin étant moins souvent concernés (26%). Si dans près de 8 cambriolages sur 10 un vol a effectivement été commis, la violence physique quant à elle reste plutôt rare (2%). 21.5% des incidents n’ont pas été déclarés à la police, en général parce que les victimes ont jugé que ça n’en vallait pas la peine. Lorsque le cambriolage a été déclaré, 47% des déclarants étaient « très satisfaits » et 23% « satisfaits » des services de la police. Les victimes de cambriolages ou tentatives de cambriolages sont davantage d’avis que le niveau de criminalité a globalement augmenté que les non-victimes. Ils apprécient moins le travail de la police et des tribunaux et se prononcent plutôt en faveur de peines de prison pour les cambrioleurs tandis que les non-victimes plaident plutôt pour des sanctions sous forme de travaux d’intérêt général. [less ▲]

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See detailHealing through Liquidity Injections ?
Rasmouki, Fanou UL

E-print/Working paper (2015)

The unprecedentedly high borrowing costs of banks along with the armada of interventions by the ECB and kin institutions to prevent a financial haemorrhage underpin the motivation of this paper to re ... [more ▼]

The unprecedentedly high borrowing costs of banks along with the armada of interventions by the ECB and kin institutions to prevent a financial haemorrhage underpin the motivation of this paper to re-visit the connection between default probabilities à la Merton and borrowing costs for a sample of large European banks. In doing so, the paper also investigates the ramifications of the ECB’s interventions on the health of the banking system. Furthermore, and building on Merton’s model, it proposes a simple measure of credit spreads that accounts for the nature of the credit risk profile of large financial institutions. The findings are unequivocal and suggest that higher default probabilities significantly explain the deteriorating ability of banks to borrow from the financial markets. More importantly, there is an increase in the degree to which default probabilities explain borrowing costs when policy measures undertaken by the ECB are incorporated. Conversely, the effect of the liquidity interventions is ambivalent: While liquidity measures directed towards the banking system have a curing effect on the borrowing costs of banks, those related to sovereigns seemingly have an impeding effect. [less ▲]

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See detailRegulator imposes warning on RTL for breach of commercial communication rules
Cole, Mark UL; Metzdorf, Jenny

E-print/Working paper (2015)

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See detailVolume and non-existence of compact Clifford-Klein forms
Tholozan, Nicolas UL

E-print/Working paper (2015)

Detailed reference viewed: 54 (0 UL)
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See detailSheaves and D-modules on Lorentzian manifolds
Schapira, Pierre UL; Jubin, Benoît Michel UL

E-print/Working paper (2015)

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See detailRealization spaces of algebraic structures on chains
Yalin, Sinan UL

E-print/Working paper (2015)

Given an algebraic structure on the homology of a chain complex, we define its realization space as a Kan complex whose vertices are the structures up to homotopy realizing this structure at the homology ... [more ▼]

Given an algebraic structure on the homology of a chain complex, we define its realization space as a Kan complex whose vertices are the structures up to homotopy realizing this structure at the homology level. Our algebraic structures are parametrised by props and thus include various kinds of bialgebras. We give a general formula to compute subsets of equivalences classes of realizations as quotients of automorphism groups, and determine the higher homotopy groups via the cohomology of deformation complexes. As a motivating example, we compute subsets of equivalences classes of realizations of Poincar\'e duality for several examples of manifolds. [less ▲]

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See detailRegular and irregular holonomic D-modules
Kashiwara, Masaki; Schapira, Pierre UL

E-print/Working paper (2015)

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See detailFunction spaces and classifying spaces of algebras over a prop
Yalin, Sinan UL

E-print/Working paper (2015)

The goal of this paper is to prove that the classifying spaces of categories of algebras governed by a prop can be determined by using function spaces on the category of props. We first consider a ... [more ▼]

The goal of this paper is to prove that the classifying spaces of categories of algebras governed by a prop can be determined by using function spaces on the category of props. We first consider a function space of props to define the moduli space of algebra structures over this prop on an object of the base category. Then we mainly prove that this moduli space is the homotopy fiber of a forgetful map of classifying spaces, generalizing to the prop setting a theorem of Rezk. The crux of our proof lies in the construction of certain universal diagrams in categories of algebras over a prop. We introduce a general method to carry out such constructions in a functorial way. [less ▲]

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See detailThe Axiomatic Approach to Risk Measures for Capital Determination
Föllmer, Hans UL; Weber, S.

E-print/Working paper (2015)

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See detailLocal universality of the number of zeros of random trigonometric polynomials with continuous coefficients
Azais, Jean-Marc; Dalmao, Federico; Leon, Jose et al

E-print/Working paper (2015)

Detailed reference viewed: 52 (0 UL)
See detailThe asymmetric effect of expectations on subjective well-being
Barazzetta, Marta UL

E-print/Working paper (2015)

We empirically explore the relationship between expectations and subjective well-being. The- oretical models predict that expectations can in uence experienced utility in two ways: (i) directly as ... [more ▼]

We empirically explore the relationship between expectations and subjective well-being. The- oretical models predict that expectations can in uence experienced utility in two ways: (i) directly as anticipatory emotions in the form of savouring or dread; (ii) indirectly as internal reference levels in the form of deviations between expectations and actual achievements. We use twelve waves of the British Household Panel Survey to empirically investigate the double effect of expectations on experienced utility, as proxied by subjective well-being. We find a strong asymmetry in the way expectations affect subjective well-being. Negative deviations from expectations have a strong negative effect on subjective well-being, while the effect of positive deviations is weaker and sometimes insignificant. Expecting a worsening has a larger impact on subjective well-being than expecting an improvement. [less ▲]

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See detailWohnmobilität in der Großregion - eine interurbane Diskursanalyse
Christmann, Nathalie UL

E-print/Working paper (2015)

“Je t’aime, moi non plus” : this is how the French newspaper L’Express (2011, p. II) summarises the transnational linkages of Luxembourg with its neighbouring countries. On the one hand, the ‘economic ... [more ▼]

“Je t’aime, moi non plus” : this is how the French newspaper L’Express (2011, p. II) summarises the transnational linkages of Luxembourg with its neighbouring countries. On the one hand, the ‘economic engine’ Luxembourg offers workplaces for many commuters, positively affecting the development of this European cross-border polycentric metropolitan region; on the other hand, negative consequences such as the overcrowded real estate mar-ket in Luxembourg continue beyond the national border and affect neighbouring housing markets. The ‘2020 Concept for the Region Trier’ shows that city councils perceive the prox-imity to Luxembourg as an opportunity for the development of the city. Simultaneously, lo-cals might feel displaced due to increasing rents and house prices, and develop resentment vis-à-vis their new neighbours, coming either from Luxembourg, or being Belgian, German or French nationals (labour migrants) that have moved to the border region to work in the Grand Duchy of Luxembourg, thus disposing of higher purchase power. Depending on the context, similar effects can thus be perceived very differently by city councils or planners and the local population. So far, studies dealing with the processes of transmigration have mostly focussed on indi-vidual motives of migrants, whereas impacts on the regions of destination have not been explored. The aim of this study is to explore ongoing discourses dealing with spatial impacts in relation to urban housing markets within the Greater Region. The focus will be on the cit-ies Arlon (BE), Metz and Thionville (FR), and Trier (DE). Therefore mixed methods will be de-ployed. Firstly, a quantitative analysis is planned to reveal the magnitude and the spatial distribution of the (cross-border) residential mobility. The evolution of housing prices and rents as well as population dynamics will be examined. Secondly, ongoing discourses and the changes of life-worlds will be studied using quantitative methods as well as qualitative methods, such as content analysis, to review the guiding principles of municipal policy and urban planning documents. A quantitative analysis of local newspapers will be conducted to analyse public opinion. A content analysis of this material will follow. The method mix allows us to better understand “material” evolutions and to trace the current discourses within this field. Discourse approaches have become common in interdis-ciplinary social science academic research. However, there are no established theoretical and methodological guidelines for applying these approaches. This project has to deal with this situation and to take into account different cultural backgrounds and discussion levels. This study will help to frame today’s situation and aims to develop sustainable solutions for future urban planning. [less ▲]

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See detailInstitutional dynamics under revenue volatility and revenue-dependent lobbying power: A stochastic differential game approach
Boucekkine, Raouf; Prieur, Fabien; Zou, Benteng UL

E-print/Working paper (2015)

We propose an analysis of institutional dynamics under uncertainty by the means of a stochastic differential lobbying game with two main ingredients. The rst one is uncertainty inherent in the ... [more ▼]

We propose an analysis of institutional dynamics under uncertainty by the means of a stochastic differential lobbying game with two main ingredients. The rst one is uncertainty inherent in the institutional process itself. The second one has to do with the crucial role of resource windfalls in economic and political outcomes, shaping lobbying power and adding a second source of uncertainty. First, we focus on uncertainty surrounding the institutional process only and show that its main consequence is the existence of multiple equilibria with very distinct features: symmetric equilibria which lead the economy to reach almost surely a stable pointwise institutional steady state in the long run even in the absence of the retaliation motive put forward by the deterministic lobbying literature, and asymmetric equilibria which only show up under uncertainty and do no allow for stochastic convergence to a steady state. Second, when accounting for the two sources of uncertainty together with resource revenue-dependent lobbying power, we show that revenue volatility tends to stabilize institutional dynamics compared to the deterministic counterpart. [less ▲]

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See detailHedonic adaptation to a treatment. Evidence from a medical intervention
Barazzetta, Marta UL; Appleton, Simon; Owens, Trudy

E-print/Working paper (2015)

We investigate adaptation of subjective well-being using a randomized controlled trial. We find that providing medical equipment to a random sample of Ugandan adults with lower limb disabilities has a ... [more ▼]

We investigate adaptation of subjective well-being using a randomized controlled trial. We find that providing medical equipment to a random sample of Ugandan adults with lower limb disabilities has a positive effect on their physical health, using both objective and self-reported measures. Treated patients experience a significant improvement in life satisfaction initially, but the effect is not prolonged. After one year, life satisfaction returns to the pre-treatment level, supporting the hypothesis of adaptation. This evidence of adaptation is supported by observations of changes in aspirations and expectations and is robust to alternative estimation methods including instrumental variable estimation and ITT analysis. [less ▲]

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See detailCurrency Areas and Voluntary Transfers
Picard, Pierre M UL; Worrall, Tim

E-print/Working paper (2015)

This paper discusses the relationship between the formation of a currency area and the use of voluntary fiscal transfers between countries. We show that there is a trade off between the benefits of ... [more ▼]

This paper discusses the relationship between the formation of a currency area and the use of voluntary fiscal transfers between countries. We show that there is a trade off between the benefits of flexible exchange rates and the additional risk sharing benefits of voluntary transfers that can be sustained in a currency area. We show that whether a currency area is beneficial or not will depend on the magnitude of economic parameter values. In particular, we show that in a simple two country model and for a plausible set of economic parameter values, a currency area is optimal. [less ▲]

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