References of "E-prints/Working papers"
     in
Bookmark and Share    
Full Text
Peer Reviewed
See detailBorderscape as an Interdisciplinary Concept - Compte rendu du colloque
Jeusette, Julien UL

E-print/Working paper (2016)

Detailed reference viewed: 118 (6 UL)
Full Text
Peer Reviewed
See detailBorders : conceptual framework
Roelens, Nathalie UL

E-print/Working paper (2016)

Detailed reference viewed: 141 (2 UL)
See detailAdventskalender, Tag 23: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 33 (0 UL)
See detailAdventskalender, Tag 24: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 27 (0 UL)
Full Text
See detailThe Defect of Random Hyperspherical Harmonics
Rossi, Maurizia UL

E-print/Working paper (2016)

Detailed reference viewed: 115 (2 UL)
See detailAdventskalender, Tag 12: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 35 (0 UL)
See detailAdventskalender, Tag 19: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 29 (0 UL)
See detailAdventskalender, Tag 21: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 36 (0 UL)
Full Text
See detailIntegration on colored supermanifolds
Grabowski, Janusz; Kwok, Stephen UL; Poncin, Norbert UL

E-print/Working paper (2016)

Detailed reference viewed: 90 (8 UL)
See detailAdventskalender, Tag 14: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 30 (0 UL)
Full Text
See detailDifferential Calculus on Z_2^n Supermanifolds
Covolo, Tiffany; Kwok, Stephen UL; Poncin, Norbert UL

E-print/Working paper (2016)

Detailed reference viewed: 129 (14 UL)
See detailAdventskalender, Tag 16: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 38 (0 UL)
Full Text
See detailSecurity Analysis of the Drone Communication Protocol: Fuzzing the MAVLink protocol
Domin, Karel; Symeonidis, Iraklis UL; Marin, Eduard

E-print/Working paper (2016)

The MAVLink protocol, used for bidirectional communication between a drone and a ground control station, will soon become a worldwide standard. The protocol has been the subject of research many times ... [more ▼]

The MAVLink protocol, used for bidirectional communication between a drone and a ground control station, will soon become a worldwide standard. The protocol has been the subject of research many times before. Through this paper, we introduce the method of fuzzing as a complementing technique to the other research, to find vulnerabilities that have not been found before by different techniques. The goal is to identify possible vulnerabilities in the protocol implementation in order to make it more secure. [less ▲]

Detailed reference viewed: 665 (3 UL)
See detailAdventskalender, Tag 18: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 36 (0 UL)
See detailAdventskalender, Tag 13: Gedanken und Wünsche für Hochbegabte.
Baudson, Tanja Gabriele UL

E-print/Working paper (2016)

Detailed reference viewed: 36 (0 UL)
Full Text
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: 119 (3 UL)
Full Text
See detailGemeinwesenarbeit als relationale skalierungssensible Örtlichkeitsarbeit
Uhler, Nicolas; Haas, Claude UL; Marthaler, Thomas UL

E-print/Working paper (2016)

Detailed reference viewed: 175 (8 UL)
Peer Reviewed
See detailTurkish Immigration Politics and the Syrian Refugee Crisis
Hoffmann, Sophia; Samuk, Sahizer UL

E-print/Working paper (2016)

Detailed reference viewed: 143 (1 UL)
See detail(Universal) Unconditional Verifiability in E-Voting without Trusted Parties
Gallegos-Garcia, Gina; Iovino, Vincenzo UL; Roenne, Peter UL et al

E-print/Working paper (2016)

Detailed reference viewed: 230 (4 UL)
Full Text
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 ▲]

Detailed reference viewed: 137 (12 UL)
Full Text
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 ▲]

Detailed reference viewed: 76 (1 UL)
Full Text
See detailOn four Koszul-Tate resolutions
Pistalo, Damjan UL; Poncin, Norbert UL

E-print/Working paper (2015)

Detailed reference viewed: 169 (31 UL)
Full Text
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 ▲]

Detailed reference viewed: 321 (21 UL)
Full Text
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: 142 (9 UL)
Full Text
Peer Reviewed
See detailAuswertung der Selbstevaluation des IDENT2-Projekts (2011-2014)
Reckinger, Rachel UL

E-print/Working paper (2015)

Detailed reference viewed: 66 (2 UL)
See detailLet's Talk Business: The Economic Impact of Brexit
Herzog, Mechthild UL

E-print/Working paper (2015)

Detailed reference viewed: 339 (2 UL)
Full Text
Peer Reviewed
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 ▲]

Detailed reference viewed: 214 (22 UL)
Full Text
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 ▲]

Detailed reference viewed: 130 (1 UL)
Full Text
Peer Reviewed
See detailThe Demand for Diversification in Incomplete Markets
Mehra, Rajnish UL; Wahal, Sunil; Xie, Daruo

E-print/Working paper (2015)

Detailed reference viewed: 122 (4 UL)
Full Text
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 ▲]

Detailed reference viewed: 120 (1 UL)
Full Text
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 ▲]

Detailed reference viewed: 95 (13 UL)
Full Text
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)

Detailed reference viewed: 129 (12 UL)
Full Text
Peer Reviewed
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 ▲]

Detailed reference viewed: 186 (1 UL)
Full Text
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 ▲]

Detailed reference viewed: 60 (0 UL)
Full Text
See detailAssessing and Improving the Mutation Testing Practice of PIT
Laurent, Thomas; Ventresque, Anthony; Papadakis, Mike UL et al

E-print/Working paper (2015)

Detailed reference viewed: 162 (3 UL)
Full Text
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 ▲]

Detailed reference viewed: 155 (3 UL)
Full Text
Peer Reviewed
See detailWeyl type quantization for some symplectic symmetric spaces
Korvers, Stéphane UL

E-print/Working paper (2015)

Detailed reference viewed: 28 (0 UL)
See detailOn rationality of certian type A Galois representations
Hui, Chun Yin UL

E-print/Working paper (2015)

Detailed reference viewed: 62 (0 UL)
See detailAdelic openness without the Mumford-Tate conjecture
Hui, Chun Yin UL; Larsen, Michael

E-print/Working paper (2015)

Detailed reference viewed: 59 (1 UL)
Full Text
Peer Reviewed
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 ▲]

Detailed reference viewed: 95 (1 UL)
See detailRemittance and Migration Prospects for the Twenty-First Century
Machado Carneiro, Joël UL; Docquier, Frédéric

E-print/Working paper (2015)

Detailed reference viewed: 82 (13 UL)
Full Text
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 ▲]

Detailed reference viewed: 121 (12 UL)
Full Text
Peer Reviewed
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 ▲]

Detailed reference viewed: 317 (1 UL)
Full Text
See detailThe Pessimism Factor: SEC EDGAR Form 10-K Textual Analysis and Stock Returns
Chouliaras, Andreas UL

E-print/Working paper (2015)

Detailed reference viewed: 107 (0 UL)
Full Text
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 ▲]

Detailed reference viewed: 164 (4 UL)
See detailTriple-A rating? Juncker's vision for the EU's social policy scorecard
Herzog, Mechthild UL

E-print/Working paper (2015)

Detailed reference viewed: 61 (2 UL)
Full Text
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 ▲]

Detailed reference viewed: 121 (6 UL)
Full Text
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 ▲]

Detailed reference viewed: 433 (65 UL)
Full Text
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 ▲]

Detailed reference viewed: 304 (83 UL)
See detailZur Bedeutung der Tiermetaphorik in der Verschränkung von Ökonomie & Gender bei Jelinek
Bloch, Natalie UL; Pelka, Artur

E-print/Working paper (2015)

Detailed reference viewed: 85 (6 UL)
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 ▲]

Detailed reference viewed: 118 (14 UL)
Full Text
Peer Reviewed
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 ▲]

Detailed reference viewed: 58 (2 UL)
Full Text
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 ▲]

Detailed reference viewed: 122 (12 UL)
Full Text
Peer Reviewed
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 ▲]

Detailed reference viewed: 62 (2 UL)
Full Text
Peer Reviewed
See detailThe Axiomatic Approach to Risk Measures for Capital Determination
Föllmer, Hans UL; Weber, S.

E-print/Working paper (2015)

Detailed reference viewed: 146 (1 UL)
Full Text
See detailHorizontal holonomy and foliated manifolds
Chitour, Yacine; Grong, Erlend UL; Jean, Frédérick et al

E-print/Working paper (2015)

We introduce horizontal holonomy groups, which are groups defined using parallel transport only along curves tangent to a given subbundle D of the tangent bundle. We provide explicit means of computing ... [more ▼]

We introduce horizontal holonomy groups, which are groups defined using parallel transport only along curves tangent to a given subbundle D of the tangent bundle. We provide explicit means of computing these holonomy groups by deriving analogues of Ambrose-Singer’s and Ozeki’s theorems. We then give necessary and sufficient conditions in terms of the horizontal holonomy groups for existence of solutions of two problems on foliated manifolds: determining when a foliation can be either (a) totally geodesic or (b) endowed with a principal bundle structure. The subbundle D plays the role of an orthogonal complement to the leaves of the foliation in case (a) and of a principal connection in case (b). [less ▲]

Detailed reference viewed: 124 (3 UL)
Full Text
See detailDéveloppements et structures de la coopération trans-frontalière dans la Grande Région SaarLorLux
Wille, Christian UL; Caruso, Geoffrey UL; Helfer, Malte UL et al

E-print/Working paper (2015)

In diesem Artikel werden die internationalen, interregionalen und grenznahen Strukturen der Zusammenarbeit in der Großregion SaarLorLux vorgestellt, die in den letzten Jahrzehnten entstanden sind. Die ... [more ▼]

In diesem Artikel werden die internationalen, interregionalen und grenznahen Strukturen der Zusammenarbeit in der Großregion SaarLorLux vorgestellt, die in den letzten Jahrzehnten entstanden sind. Die Untersuchung beginnt mit den späten 1960er Jahren, konzentriert sich dann auf die 1990er Jahre, in denen sich die grenzüberschreitende Zusammenarbeit innerhalb der EU stark entwickelte, und endet in den 2000er Jahren, in denen eine deutliche Konsolidierung der grenzüberschreitenden Zusammenarbeit zu verzeichnen ist. Alle Entwicklungen unterliegen den entsprechenden Rahmenbedingungen, die u.a. von Brüssel vorgegeben werden, und sind je nach Akteur unterschiedlich ausgeprägt. [less ▲]

Detailed reference viewed: 26 (0 UL)
Full Text
See detailLes sols de la Grande Région SaarLorLux
Kubiniok, Jochen; Neumann, Barbara; Helfer, Malte UL et al

E-print/Working paper (2015)

The map "Soils of the Greater Region", extracted from the European Soil Database, presents the characteristic soil types of the Greater Region in a homogeneous classification.

Detailed reference viewed: 24 (0 UL)
Full Text
Peer Reviewed
See detailWhat Drives Exchange Rates? Reassessing Currency Return Predictability
Ferreira Filipe, Sara UL; Maio, Paulo

E-print/Working paper (2015)

We compute a variance decomposition for the log exchange rate based on a present-value relation. At long horizons, return predictability drives the variation in the exchange rate while predictability of ... [more ▼]

We compute a variance decomposition for the log exchange rate based on a present-value relation. At long horizons, return predictability drives the variation in the exchange rate while predictability of future interest rate differentials plays a secondary role. At shorter horizons, the dominant source is predictability of the future spot rate. There is more return predictability and less interest spread and exchange rate predictability in the case of real exchange rates compared to nominal exchange rates. An alternative decomposition based on a first-order VAR tends to overstate the importance of predictability of future interest spreads and exchange rates. [less ▲]

Detailed reference viewed: 136 (1 UL)
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 ▲]

Detailed reference viewed: 75 (8 UL)
Full Text
Peer Reviewed
See detailQuantized Matrix Algebras and Quantum seeds
Pagani, Chiara UL; Jakobsen, Hans Plesner

E-print/Working paper (2015)

We determine explicit quantum seeds for classes of quantized matrix algebras. Furthermore, we obtain results on centers and block diagonal for ms of these algebras. In the case where q is an arbitrary ... [more ▼]

We determine explicit quantum seeds for classes of quantized matrix algebras. Furthermore, we obtain results on centers and block diagonal for ms of these algebras. In the case where q is an arbitrary root of unity, this further determines the degrees. [less ▲]

Detailed reference viewed: 84 (1 UL)
See detailDining Cryptographers are Practical
Franck, Christian UL; van de Graaf, Jeroen

E-print/Working paper (2015)

The dining cryptographers protocol provides information-theoretically secure sender and recipient untraceability. However, the protocol is considered to be impractical because a malicious participant may ... [more ▼]

The dining cryptographers protocol provides information-theoretically secure sender and recipient untraceability. However, the protocol is considered to be impractical because a malicious participant may disrupt the communication. We propose an implementation which provides information-theoretical security for senders and recipients, and in which a disruptor with limited computational capabilities can easily be detected. [less ▲]

Detailed reference viewed: 90 (7 UL)
Full Text
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 ▲]

Detailed reference viewed: 111 (3 UL)
Full Text
See detailNew Grand-Ducal Regulation on Protection of Minors in Audiovisual Media Services
Cole, Mark UL; Metzdorf, Jenny

E-print/Working paper (2015)

Detailed reference viewed: 70 (5 UL)
Full Text
See detailRegulator imposes warning on RTL for breach of commercial communication rules
Cole, Mark UL; Metzdorf, Jenny

E-print/Working paper (2015)

Detailed reference viewed: 62 (6 UL)
Full Text
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 ▲]

Detailed reference viewed: 60 (5 UL)
Full Text
See detailL'industrie automobile dans la Grande Région SaarLorLux en 2011 - évolutions actuelles, défis et solutions possibles
Hahn, Christoph; Helfer, Malte UL; Pauly, Michel UL et al

E-print/Working paper (2015)

With almost 150,000 employees and more than 600 companies, the automotive industry is one of the most important sectors in the Greater Region. However, in the more recent past, globalisation ... [more ▼]

With almost 150,000 employees and more than 600 companies, the automotive industry is one of the most important sectors in the Greater Region. However, in the more recent past, globalisation, technological development and, above all, the global economic and financial crisis have had a strong influence on the sector and have posed challenges. This text attempts to review these developments and discuss possible strategies and measures to meet the challenges. [less ▲]

Detailed reference viewed: 19 (1 UL)
Full Text
See detailEndogenous Capital- and Labor-Augmenting Technical Change in the Neoclassical Growth Model
Irmen, Andreas UL; Tabakovic, Amer UL

E-print/Working paper (2015)

The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans ... [more ▼]

The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans extended to allow for endogenous capital- and labor-augmenting technical change. We develop a novel micro-foundation for the competitive production sector that rests on the idea that the fabrication of output requires tasks to be performed by capital and labor. Firms may engage in innovation investments that increase the productivity of capital and labor in the performance of their respective tasks. These investments are associated with new technological knowledge that accumulates over time and sustains long-run growth. We show that the equilibrium allocation is not Pareto-efficient since both forms of technical change give rise to an inter-temporal knowledge externality. An appropriate policy of investment subsidies may implement the efficient allocation. [less ▲]

Detailed reference viewed: 155 (24 UL)
Full Text
See detailNew Grand-Ducal Regulation on the film fund for audiovisual production
Cole, Mark UL; Metzdorf, Jenny

E-print/Working paper (2015)

Detailed reference viewed: 74 (2 UL)
Full Text
See detailEnvironmental Policy and the Size Distribution of Firms
Coria, Jessica; Kyriakopoulou, Efthymia UL

E-print/Working paper (2015)

In this paper we analyze the e¤ects of environmental policies on the size distribution of firms. We model a stationary industry where the observed size distribution is a solution to the profit ... [more ▼]

In this paper we analyze the e¤ects of environmental policies on the size distribution of firms. We model a stationary industry where the observed size distribution is a solution to the profit maximization problem of heterogeneous firms that di¤er in terms of their energy e¢ ciency. We compare the equilibrium size distribution under emission taxes, uniform emission standards, and performance standards. Our results indicate that, unlike emission taxes and performance standards, emission standards introduce regulatory asymmetries favoring small firms. These asymmetries cause significant detrimental e¤ects on total output and total welfare, yet lead to reduced emissions and might help preserve small businesses. [less ▲]

Detailed reference viewed: 131 (0 UL)
Full Text
See detailNew Act on the film fund for audiovisual production
Cole, Mark UL; Metzdorf, Jenny

E-print/Working paper (2015)

Detailed reference viewed: 80 (5 UL)
Full Text
See detailOn the strategic effect of international permits trading on local pollution
Antoniou, Fabio; Kyriakopoulou, Efthymia UL

E-print/Working paper (2015)

We introduce a model of strategic environmental policy where two firms compete à la Cournot in a third market in the presence of multiple pollutants. Two types of pollutants are introduced: a local and a ... [more ▼]

We introduce a model of strategic environmental policy where two firms compete à la Cournot in a third market in the presence of multiple pollutants. Two types of pollutants are introduced: a local and a transboundary one. The regulator can only control local pollution as transboundary pollution is regulated internationally. The strategic effect present in the original literature is also replicated in this setup. However, we illustrate that when transboundary pollution is regulated through the use of tradable emission permits instead of non-tradable ones then a new strategic effect appears which had not been identified thus far. In this case, local pollution increases further and welfare is lowered. We also provide evidence from the implementation of EU ETS over the pollution of particulate matters (PM10 and PM2.5). [less ▲]

Detailed reference viewed: 53 (2 UL)
See detailThe Transformation of the European Economic Constitution
Hofmann, Herwig UL; Pantazatou, Aikaterini UL

E-print/Working paper (2015)

The current times of constitutional transformation in the EU place the following question on the agenda: Is the ongoing economic crisis demarcating the end of the original conception of a ‘European ... [more ▼]

The current times of constitutional transformation in the EU place the following question on the agenda: Is the ongoing economic crisis demarcating the end of the original conception of a ‘European Economic Constitution’ as it has developed since the early days of the EEC? Or are we witnessing simply a shift towards a new more encompassing model of an EU ‘Economic Constitution’ in which economic government and economic governance tools are used in parallel to deepen integration and continue the spill-over of economic integration into previously national policies? This contribution traces and evaluates conceptual, regulatory, institutional and legitimacy-related changes and challenges to the EU’s model of the ‘Economic Constitution’ as the basic legal framework and conceptions of EU law governing economic policy. This chapter argues that the EU’s constitutional framework in the form of the existing Treaties and General Principles of EU law did not provide an adequate legal framework to cope with the ongoing crisis. This failure has, in our view, initiated an ongoing transformation of the EU’s ‘Economic Constitution’ as we know it. Laying the foundations for the transformation took place in several consecutive steps mostly on the intergovernmental level and often as a combination of EU law, public international law and in some cases mixed with private law instruments. The nature of this development creates challenges regarding ensuring compliance of these newly developed structures with the Union’s foundational principles of ensuring transparency, democratic legitimacy, fundamental rights and effective review mechanisms in the context of a system under the rule of law. In order to illustrate the modes of the continuous transformation of the ‘Eoncomic Constitution’ and to evaluate the direction it is taking, this chapter will start with tracing its origins and follow its evolution over time. It thereby distinguishes two separate but interlinked elements of the ‘Economic Constitution.’ It first looks at the original focus of European regulation regarding what we refer to as ‘micro-economic’ matters with policies including competition law and the control of state aids. This chapter then turns to the evolving focus of EU law the larger questions of economic and fiscal policies which we refer to in the following as the ‘macro-economic’ element of the constitutional framework. [less ▲]

Detailed reference viewed: 324 (43 UL)
Full Text
See detailSheaves and D-modules on Lorentzian manifolds
Schapira, Pierre UL; Jubin, Benoît Michel UL

E-print/Working paper (2015)

Detailed reference viewed: 118 (0 UL)
Full Text
Peer Reviewed
See detailInternational vergleichende Analyse von Einrichtungen und Arbeitszusammenhängen der Interkulturalitätsforschung
Wille, Christian UL; von der Wense, Edwina; Heimböckel, Dieter UL

E-print/Working paper (2015)

Die vorliegende vergleichende Analyse von Einrichtungen und Arbeitszusammenhängen der Interkulturalitätsforschung wurde im Zuge der Einrichtungen des fakultären Schwerpunktbereichs MIS – Mehrsprachigkeit ... [more ▼]

Die vorliegende vergleichende Analyse von Einrichtungen und Arbeitszusammenhängen der Interkulturalitätsforschung wurde im Zuge der Einrichtungen des fakultären Schwerpunktbereichs MIS – Mehrsprachigkeit und Interkulturelle Studien durchgeführt. Ziel war es zentrale Orientierungspunkte für eine strategische Positionierung und für zukünftige Entwicklungslinien des Schwerpunktbereichs zu gewinnen. Dafür wurden die Internetseiten von 64 vergleichbaren Einrichtungen bzw. Arbeitszusammenhängen der Interkulturalitätsforschung inhaltsanalytisch untersucht. Zur Stichprobe zählen in erster Linie eigenständige Zentren und Institute/Abteilungen aus dem universitären Kontext mit international breit gestreuten Standorten; Arbeitszusammenhänge bzw. Einrichtungen aus dem deutschsprachigen Raum sind besonders gut vertreten. [less ▲]

Detailed reference viewed: 202 (9 UL)
See detailDoes tax competition increase disparity among jurisdictions?
Han, Yutao; Pieretti, Patrice UL; Zou, Benteng UL

E-print/Working paper (2015)

This paper investigates whether a less-developed economy can catch up with a more developed one when they compete for foreign direct investments. The main message of the paper is that jurisdictional ... [more ▼]

This paper investigates whether a less-developed economy can catch up with a more developed one when they compete for foreign direct investments. The main message of the paper is that jurisdictional competition can enable the lagging country to catch up if capital mobility is sufficiently high and the productivity gap is not too large. Further, we show that size asymmetry reinforces (weakens) the productivity catch-up resulting from interjurisdictional competition when the lagging economy is small (large). Finally, we demonstrate that the development gap widens when capital becomes less mobile, which is at odds with previous findings. [less ▲]

Detailed reference viewed: 83 (5 UL)
Full Text
See detailDash for Cash: Month-End Liquidity Needs and the Predictability of Stock Returns
Rinne, Kalle UL; Suominen, Matti; Vaittinen, Lauri

E-print/Working paper (2015)

This paper uncovers strong return reversals in the US value weighted stock market index around the last monthly settlement day, T-3, which guarantees liquidity for month-end cash distributions. Similar ... [more ▼]

This paper uncovers strong return reversals in the US value weighted stock market index around the last monthly settlement day, T-3, which guarantees liquidity for month-end cash distributions. Similar reversals in market returns around T-3 are documented internationally. The return reversals are stronger in countries where the mutual fund ownership is large, and in the US they have become stronger over time as the mutual fund ownership of stocks has increased. Using data that contains all trades of a subset of institutional investors, we show direct evidence that institutional trading contributes to the market reversals. Finally, we find that in the cross-section of stocks, return reversals around the turn of the month are stronger for stocks more commonly held by mutual funds and for liquid stocks. These market reversals help explain the previously documented abnormally high market returns around the turn of the month. [less ▲]

Detailed reference viewed: 149 (1 UL)
Full Text
Peer Reviewed
See detailOn the Impact of Exclusion Filters Rules in Option Pricing
Lehnert, Thorsten UL; Dennis, Brams; Gildas, Blanchard

E-print/Working paper (2015)

Detailed reference viewed: 38 (0 UL)
See detailStochastic stability of endogenous growth: Theory and applications
Boucekkine, Raouf; Pintus, Patrick; Zou, Benteng UL

E-print/Working paper (2015)

We examine the issue of stability of stochastic endogenous growth. First, stochastic stability concepts are introduced and applied to stochastic linear homogenous differen- tial equations to which several ... [more ▼]

We examine the issue of stability of stochastic endogenous growth. First, stochastic stability concepts are introduced and applied to stochastic linear homogenous differen- tial equations to which several stochastic endogenous growth models reduce. Second, we apply the mathematical theory to two models, starting with the stochastic AK model. It’s shown that in this case exponential balanced paths, which characterize optimal trajectories in the absence of uncertainty, are not robust to uncertainty: the economy may almost surely collapse at exponential speed even though productivity is initially arbitrarily high. Finally, we revisit the seminal global diversification endogenous growth model (Obstfeld, 1994): taking into account stochastic stability calls for a redefinition of the mean growth concept, which leads to revisit the established wisdom on the growth effect of global diversification. [less ▲]

Detailed reference viewed: 97 (8 UL)
Full Text
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 ▲]

Detailed reference viewed: 44 (0 UL)
Full Text
Peer Reviewed
See detailIntercultural work environments in Luxembourg. Multilingualism and cultural diversity among cross-border workers at the workplace
Wille, Christian UL; De Bres, Julia UL; Franziskus, Anne

E-print/Working paper (2015)

The trilingual country of Luxembourg accounts for the highest percentage of cross-border workers in the European Union. These workers commute daily from France, Belgium and Germany to Luxembourg. Their ... [more ▼]

The trilingual country of Luxembourg accounts for the highest percentage of cross-border workers in the European Union. These workers commute daily from France, Belgium and Germany to Luxembourg. Their presence in the national labour market results in increasing linguistic and cultural diversity at Luxembourgish workplaces. Drawing upon interview and interactional data, the present contribution is the first to investigate how cross-border workers in Luxembourg perceive and deal with multilingualism and interculturality, and presents a range of related linguistic and intercultural practices. [less ▲]

Detailed reference viewed: 575 (29 UL)
Full Text
Peer Reviewed
See detailCredit risk characteristics of US small business portfolios
Wolff, Christian UL

E-print/Working paper (2015)

Detailed reference viewed: 94 (0 UL)
See detailBewegungssoziologische Analyse der Begrifflichkeiten der deutschen Trans*-Bewegung
De Silva, Adrian UL

E-print/Working paper (2015)

Detailed reference viewed: 106 (12 UL)
Full Text
Peer Reviewed
See detailDoes the CAMEL bank rating system follow a pro-cyclical pattern?
Wolff, Christian UL

E-print/Working paper (2015)

Detailed reference viewed: 70 (2 UL)
Full Text
Peer Reviewed
See detailThe determinants of CoCo bond prices
Wolff, Christian UL

E-print/Working paper (2015)

Detailed reference viewed: 116 (2 UL)
Full Text
See detailRegular and irregular holonomic D-modules
Kashiwara, Masaki; Schapira, Pierre UL

E-print/Working paper (2015)

Detailed reference viewed: 102 (0 UL)
Peer Reviewed
See detailClosing the Seasonal Agricultural Workers Scheme: A Triple Loss
Consterdine, Erica; Samuk, Sahizer UL

E-print/Working paper (2015)

Despite temporary migration programmes (TMPs) being heralded as achieving a triple win – whereby the host state, the sending state and the migrants themselves all benefit – the UK government has now ... [more ▼]

Despite temporary migration programmes (TMPs) being heralded as achieving a triple win – whereby the host state, the sending state and the migrants themselves all benefit – the UK government has now terminated all such programmes, including the longstanding Seasonal Agricultural Workers Scheme (SAWS). At the same time, TMPs have been heavily criticised by both the academic and policy sectors, as they tie workers to employers in rigid ways and lack integration measures. This paper reviews the SAWS scheme, including the policy evolution of the programme and the reasons for the closure. We argue that the government is inflicting a multiple loss scenario, whereby permanent immigration may increase, labour market shortages will be rife, remittances and skills transfers will be lost, and irregular immigration and in turn exploitation of migrant worker rights may be exacerbated. Whilst the policy design of SAWS was far from perfect, we argue that a modified version, targeting agricultural students, should be retained, which could restore the triple-win scenario. [less ▲]

Detailed reference viewed: 82 (0 UL)
Full Text
See detailLarge Galois images for Jacobian varieties of genus 3 curves
Arias De Reyna Dominguez, Sara UL; Armana, Cécile; Karemaker, Valentijn et al

E-print/Working paper (2015)

Given a prime number l greater than or equal to 5, we construct an infinite family of three-dimensional abelian varieties over Q such that, for any A/Q in the family, the Galois representation \rho_{A, l ... [more ▼]

Given a prime number l greater than or equal to 5, we construct an infinite family of three-dimensional abelian varieties over Q such that, for any A/Q in the family, the Galois representation \rho_{A, l}: Gal_Q -> GSp(6, l) attached to the l-torsion of A is surjective. Any such variety A will be the Jacobian of a genus 3 curve over Q whose respective reductions at two auxiliary primes we prescribe to provide us with generators of Sp(6, l). [less ▲]

Detailed reference viewed: 102 (1 UL)
See detailInvariant dimensions and maximality of geometric monodromy action
Hui, Chun Yin UL

E-print/Working paper (2015)

Detailed reference viewed: 62 (1 UL)
Full Text
See detailVolume and non-existence of compact Clifford-Klein forms
Tholozan, Nicolas UL

E-print/Working paper (2015)

Detailed reference viewed: 56 (0 UL)
Full Text
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 ▲]

Detailed reference viewed: 88 (0 UL)