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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 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 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 ▲]

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See detailBewegungssoziologische Analyse der Begrifflichkeiten der deutschen Trans*-Bewegung
De Silva, Adrian UL

E-print/Working paper (2015)

Detailed reference viewed: 111 (12 UL)
See detailMuseums: Luxembourg
Kmec, Sonja UL

E-print/Working paper (2015)

Detailed reference viewed: 75 (1 UL)
See detailHistorical societies: Luxembourg
Kmec, Sonja UL

E-print/Working paper (2015)

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See detailEuro Crash Risk
Kräussl, Roman UL; Lehnert, Thorsten UL; Sigita, Senulyte

E-print/Working paper (2015)

Detailed reference viewed: 50 (0 UL)
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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 ▲]

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See detailGauweiler and OMT: Lessons for EU Public Law and the European Economic and Monetary Union
Hofmann, Herwig UL

E-print/Working paper (2015)

Do exceptional situations make exceptional good or exceptionally bad law? This is an old question often asked anew – especially in the context of the post-2008 economic crises travails of the European ... [more ▼]

Do exceptional situations make exceptional good or exceptionally bad law? This is an old question often asked anew – especially in the context of the post-2008 economic crises travails of the European Economic and Monetary Union (EMU). The legal disputes which resulted from differing opinions about how to solve the crises and also how, incidentally, to improve the EMU’s governance have reached the Court of Justice of the European Union (CJEU). The most prominent case to date is the so called Gauweiler case, a preliminary reference procedure initiated by the German Constitutional Court, the Bundesverfassungsgericht (BVerfG). [less ▲]

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See detailOptimal Berry-Esseen bounds on the Poisson space.
Peccati, Giovanni UL; Azmoodeh, Ehsan UL

E-print/Working paper (2015)

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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 ▲]

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See detailThe projective linear supergroup and the SUSY-preserving automorphisms of P^1|1
Kwok, Stephen UL

E-print/Working paper (2015)

The purpose of this paper is to describe the projective linear supergroup, its relation with the automorphisms of the projective superspace and to determine the supergroup of SUSY preserving automorphisms ... [more ▼]

The purpose of this paper is to describe the projective linear supergroup, its relation with the automorphisms of the projective superspace and to determine the supergroup of SUSY preserving automorphisms of ${\mathbf P}^{1|1}$ [less ▲]

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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 ▲]

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See detailNew Grand-Ducal Regulation on the film fund for audiovisual production
Cole, Mark UL; Metzdorf, Jenny

E-print/Working paper (2015)

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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 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: 55 (2 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 detailApproximate Normality of High-Energy Hyperspherical Eigenfunctions
Campese, Simon UL; Marinucci, Domenico; Rossi, Maurizia UL

E-print/Working paper (2015)

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See detailLes petites villes en Lotharingie. Un bilan subjectif de 25 ans de recherches
Pauly, Michel UL

E-print/Working paper (2015)

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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 ▲]

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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 detailOn symbolic computations with Chern classes: remarks on the library chern.lib for Singular
Iena, Oleksandr UL

E-print/Working paper (2015)

We provide an informal overview of the algorithms used for computing with Chern classes in the library chern.lib for the computer algebra system Singular.

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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)
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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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 ▲]

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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 ▲]

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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 ▲]

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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: 99 (8 UL)
See detailLegal Manifestations of the Emergency in National Euro Crisis Law
Coutts, Stephen; Díez Sánchez, Leticia; Marketou, Afroditi UL et al

E-print/Working paper (2015)

Most constitutions foresee a 'state of emergency' associated with the existence of an armed conflict. Paradoxically, modern societies seem to be permanently confronted with genuine emergencies ... [more ▼]

Most constitutions foresee a 'state of emergency' associated with the existence of an armed conflict. Paradoxically, modern societies seem to be permanently confronted with genuine emergencies increasingly removed from the threat of actual, physical violence. The Eurozone crisis can be said to have accentuated this, as the immense pressures from financial markets have turned the control of public finances into a struggle for the survival of the affected States. The present paper explores the legal manifestations of emergency in the domestic law of Greece, Italy, Spain and Ireland. These countries have all been hit by the Eurozone crisis (albeit in different manners) and have had to accommodate external oversight in their crisis management. The adoption of emergency measures for tackling the economic upheavals has been diverse across the case studies, although all have in common the emergence of a prominent role for the executive in the aftermath of the Eurozone crisis. [less ▲]

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See detailCredit risk characteristics of US small business portfolios
Wolff, Christian UL

E-print/Working paper (2015)

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See detailDoes the CAMEL bank rating system follow a pro-cyclical pattern?
Wolff, Christian UL

E-print/Working paper (2015)

Detailed reference viewed: 74 (2 UL)
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)

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See detailThe determinants of CoCo bond prices
Wolff, Christian UL

E-print/Working paper (2015)

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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 ▲]

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See detailInvariant dimensions and maximality of geometric monodromy action
Hui, Chun Yin UL

E-print/Working paper (2015)

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See detailMonetary Policy with 100% Reserve Banking: An Exploration
Mehra, Rajnish UL; Wessel, Ryan; Prescott, Edward C.

E-print/Working paper (2015)

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See detailAccelerating the DC algorithm for smooth functions
Aragón Artacho, Francisco Javier UL; Fleming, Ronan MT UL; Phan, Vuong UL

E-print/Working paper (2015)

We introduce two new algorithms to minimise smooth difference of convex (DC) functions that accelerate the convergence of the classical DC algorithm (DCA). We prove that the point computed by DCA can be ... [more ▼]

We introduce two new algorithms to minimise smooth difference of convex (DC) functions that accelerate the convergence of the classical DC algorithm (DCA). We prove that the point computed by DCA can be used to define a descent direction for the objective function evaluated at this point. Our algorithms are based on a combination of DCA together with a line search step that uses this descent direction. Convergence of the algorithms is proved and the rate of convergence is analysed under the Łojasiewicz property of the objective function. We apply our algorithms to a class of smooth DC programs arising in the study of biochemical reaction networks, where the objective function is real analytic and thus satisfies the Łojasiewicz property. Numerical tests on various biochemical models clearly show that our algorithms outperforms DCA, being on average more than four times faster in both computational time and the number of iterations. The algorithms are globally convergent to a non-equilibrium steady state of a biochemical network, with only chemically consistent restrictions on the network topology. [less ▲]

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See detailType A images of Galois representations and maximality
Hui, Chun Yin UL; Larsen, Michael

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)

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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 detailInvariant connections and PBW theorem for Lie groupoid pairs
Laurent-Gengoux, Camille; Voglaire, Yannick UL

E-print/Working paper (2015)

Given a closed wide Lie subgroupoid $\mathbf{A}$ of a Lie groupoid $\mathbf{L}$, i.e. a Lie groupoid pair, we interpret the associated Atiyah class as the obstruction to the existence of $\mathbf{L ... [more ▼]

Given a closed wide Lie subgroupoid $\mathbf{A}$ of a Lie groupoid $\mathbf{L}$, i.e. a Lie groupoid pair, we interpret the associated Atiyah class as the obstruction to the existence of $\mathbf{L}$-invariant fibrewise affine connections on the homogeneous space $\mathbf{L}/\mathbf{A}$. For Lie groupoid pairs with vanishing Atiyah class, we show that the left $\mathbf{A}$-action on the quotient space $\mathbf{L}/\mathbf{A}$ can be linearized. In addition to giving an alternative proof of a result of Calaque about the Poincare-Birkhoff-Witt map for Lie algebroid pairs with vanishing Atiyah class, this result specializes to a necessary and sufficient condition for the linearization of dressing actions, and gives a clear interpretation of the Molino class as an obstruction to simultaneous linearization of all the monodromies. In the course of the paper, a general theory of connections and connection forms on Lie groupoid principal bundles is developed. Also, a computational substitute to the adjoint action (which only exists "up to homotopy") is suggested. [less ▲]

Detailed reference viewed: 209 (28 UL)
See detailHow a Brexit Would Influence the British Economy. A Four-Part Brexit Blog
Herzog, Mechthild UL

E-print/Working paper (2015)

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See detailCompetition among Coalitions in a Cournot Industry: A Validation of the Porter Hypothesis
Tampieri, Alessandro UL; Lambertini, Luca; Pignataro, Giuseppe

E-print/Working paper (2015)

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See detailIntertemporal pro-poorness
Palmisano, Flaviana UL; Bresson, Florent; Duclos, Jean-Yves

E-print/Working paper (2015)

Detailed reference viewed: 106 (1 UL)
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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 ▲]

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See detailIncreases in well-being after transition to retirement for unemployed. Catching up with formerly employed persons.
Ponomarenko, Valentina UL; Leist, Anja UL; Chauvel, Louis UL

E-print/Working paper (2015)

This paper examines the extent to which well-being levels change in the transition to retirement depending on transitioning from being employed, unemployed, or economically inactive. Whereas transitioning ... [more ▼]

This paper examines the extent to which well-being levels change in the transition to retirement depending on transitioning from being employed, unemployed, or economically inactive. Whereas transitioning from employment to unemployment has been found to cause an increase in depressive symptoms or decline in life satisfaction with more time spent in unemployment, it is not clear to which extent transitioning from unemployment to retirement affects well-being levels compared to retiring after being employed or economically inactive. We use two waves of the Survey of Health, Ageing and Retirement in Europe monitoring respondents transitioning to retirement and use life satisfaction as well-being measure. The effect of the transition is captured with a difference-in-difference like approach to test if the change in well-being after retirement is different for persons who were formerly unemployed or inactive, respectively, compared to formerly employed retirees. Results indicate that retiring from unemployment is associated with an increase in life satisfaction, but presents mainly a catching-up effect compared to employed persons transitioning to retirement. Retirement from labour market inactivity, especially sick leave, does not lead to significant changes in well-being. Findings are robust to selection into unemployment and country differences. As well-being of unemployed persons recovers after transitioning to retirement, especially the currently unemployed population should be supported to prevent detrimental consequences of economically unfavourable conditions and lower well-being. [less ▲]

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See detailLaw, Public Interest and Interpretation: Prolegomena of a Normative Framework on Administrative Discretion in the EU
Mendes, Joana UL

E-print/Working paper (2015)

It is conventionally assumed that administrative discretionary decisions are determined by political and expert-driven considerations and that law’s structuring and constraining capacity in that regard is ... [more ▼]

It is conventionally assumed that administrative discretionary decisions are determined by political and expert-driven considerations and that law’s structuring and constraining capacity in that regard is and should be limited. Law defines a space within which discretionary choices are irrelevant to law because they have the same legal value. These tenets have shaped both the ways the Court of Justice of the European Union has approached judicial review of discretion and, more generally, the way law is perceived to structure administrative discretion in the Member States and also in the EU. However, the recent expansion of the regulatory powers of the European Union justifies revisiting these basic axioms. In particular, how far should discretion be shielded from the values that EU law conveys? This paper proposes a normative elaboration of a core idea of public law to stress that law twins administrative discretion with a duty of regard to pre-determined public interests. On this basis, legal rules are able to provide a yardstick of critique of decisions that administrative officials adopt within spaces of discretion. An analysis of the Meroni judgment shows how this argument applies to EU law. But this claim only prepares the ground for a more complex inquiry: How does law operate – and how should it operate – within the spaces of administrative discretion, and how should courts review discretionary decisions? Administrative decision-makers construct the law in a specific institutional context in view of their specific tasks. Arguably, one should understand the specific processes through which they interpret the law to know how law may provide substantive criteria that guide discretionary choices. Such understanding would also be the basis to define and assess suitable degrees of judicial review of administrative discretion. One could then make a critical assessment – difficult to make at present – of the shifting boundaries between spaces of discretion and of judicial review that the dictum “manifest error of assessment, misuse of power or excess of power” conceals. This latter argument draws on the debate among US administrative law scholars on agency interpretation of statutes, but it is also mindful of conceptual distinctions that have prevailed in legal scholarship in Europe. The paper defines the prolegomena of a normative framework of a broader research project. It is work in progress. [less ▲]

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See detailLanguage profiles and practices of cross-border workers in Luxembourg
Franziskus, Anne UL; De Bres, Julia UL

E-print/Working paper (2015)

This paper summarises the findings of a questionnaire study investigating the language pro-files and practices of cross-border workers in Luxembourg. The study was undertaken in 2009 and includes 128 ... [more ▼]

This paper summarises the findings of a questionnaire study investigating the language pro-files and practices of cross-border workers in Luxembourg. The study was undertaken in 2009 and includes 128 cross-border workers from 35 workplaces from different sectors, including the health sector, higher education and research, the manufacturing industry and the service sector. The study suggests that all the participants have a multilingual profile and have learnt at least one language in addition to their first one in the course of their life. A second result is that French is used in all the workplaces under investigation. But, at the same time, the major-ity of the cross-border worker participants have a multilingual professional life, most of them using more than one language at work on an everyday basis. This multilingualism comes in the form of a wide range of multilingual practices, including language accommodation, use of a lingua franca, code-switching and receptive multilingualism. Furthermore, two thirds of the participants report having learnt Luxembourgish either formally or informally, and half of those who have not learnt it, would like to do so in the future. [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 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 ▲]

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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 detailRadical Innovation – A domain of SMEs? A novel test of the Schumpeterian Hypothesis
Abou Lebdi, Nabil UL

E-print/Working paper (2015)

The Schumpeterian Hypothesis has been subject to a plethora of research aiming at the provision of new insights to the relationship of innovation on firm size. Utilizing a panel of German companies in ... [more ▼]

The Schumpeterian Hypothesis has been subject to a plethora of research aiming at the provision of new insights to the relationship of innovation on firm size. Utilizing a panel of German companies in manufacturing industries from 1993-2011, this analysis explicitly distinguishes between radical and incremental innovation output. It reveals that firm size and radical innovation share an overall negative relationship, while the relationship between firm size and incremental innovation is positive. These results provide a novel explanation for the often-reported non-linear relationship between firm size and innovation. [less ▲]

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See detailRegulator Imposes Warning on RTL for Breach of Rules on Protection of Minors over Syrian War Coverage
Cole, Mark UL; Metzdorf, Jenny

E-print/Working paper (2015)

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See detailOn the Impact of Exclusion Filters Rules in Option Pricing
Lehnert, Thorsten UL; Dennis, Brams; Gildas, Blanchard

E-print/Working paper (2015)

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See detailDraft Grand-Ducal Regulation on Protection of Minors in Audiovisual Media Services
Cole, Mark UL; Metzdorf, Jenny

E-print/Working paper (2015)

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See detailThe Impact of Uncertainty in the Oil and Gold Market on the Cross-Section
Lehnert, Thorsten UL; Bams, Dennis; Blanchard, Gildas et al

E-print/Working paper (2015)

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See detailNew Grand-Ducal Regulation on fees for audio and audiovisual media service providers
Cole, Mark UL; Metzdorf, Jenny

E-print/Working paper (2015)

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See detailBubbles and Trading Frenzies: Evidence from the Art Market
Penasse, Julien UL; Renneboog, Luc

E-print/Working paper (2015)

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See detailVolatility Concepts and Risk Management Tools
Lehnert, Thorsten UL; Blanchard,, Gildas; Dennis, Bams,

E-print/Working paper (2015)

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See detailFrom Time Varying Risk-Aversion and Sentiment to Anomalies in Market
Lehnert, Thorsten UL; Honarvar, Iman; Bams, Dennis

E-print/Working paper (2015)

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See detailIs Venture Capital really a Local Business? Evidence from U.S. Cross-Border Investment
Kräussl, Roman UL; Wuebker,, Robert; Schulze, William

E-print/Working paper (2015)

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See detailToward a pecking order theory of strategic resource deployment
Kräussl, Roman UL; Schulze, William; Deeds, David et al

E-print/Working paper (2015)

Detailed reference viewed: 103 (0 UL)
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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)
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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 detailNew Act on the film fund for audiovisual production
Cole, Mark UL; Metzdorf, Jenny

E-print/Working paper (2015)

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See detailEspaces de frontière. Penser et analyser la frontière en tant qu’espace
Wille, Christian UL

E-print/Working paper (2015)

Les frontières se différencient non seulement en fonction des domaines d'étude où elles sont opérantes ou dans lesquels elles se constituent, mais également en termes de modes de (re)production et de ... [more ▼]

Les frontières se différencient non seulement en fonction des domaines d'étude où elles sont opérantes ou dans lesquels elles se constituent, mais également en termes de modes de (re)production et de formes. Cette communication traitera en premier lieu de la forme de la frontière, sachant que ce n’est pas la frontière territoriale en tant que ligne qui importera, mais plutôt son caractère zonal et la question de savoir comment il est possible de l'aborder dans une perspective théorico-conceptuelle aux fins de l’étude empirique. Il est plus judicieux de considérer les frontières territoriales comme zones ou espaces, la métaphore de la ligne s'avérant une pure fiction. Jusqu’au XVIIIe siècle, les frontières étaient conçues comme des espaces de contact et des zones de transition (convoitées), ce n’est qu’avec l’avènement d’États nationaux modernes que s’établit le concept de frontière comme ligne – sans qu’elle n’ait perdu empiriquement son caractère zonal. C’est ce qu’on peut notamment constater dans les régions transfrontalières où les frontières territoriales ne peuvent se réduire à leur fonction de différenciation ou de passerelle, mais au contraire s’élargissent – comme le montre la mobilité transfrontalière des travailleurs, des consommateurs ainsi que la mobilité résidentielle – se transformant ainsi en zones de l'entre-deux. Ces zones ne peuvent pas être concédées aux espaces situés en deçà et au-delà d’une frontière territoriale, elles représentent en revanche des espaces autonomes, lesdits « espaces de frontière » qui revêtent une identité liminale. L'objet de cette communication est de savoir comment il est possible de décrire et d'étudier de tels espaces que l'on peut observer comme productions quotidiennes. Il s’agit (1) de percevoir de manière conceptuelle le caractère zonal de la frontière, donc la dimension spatiale, (2) le potentiel innovateur et imprévisible de la liminalité et ainsi la contingence sociale. La géographie sociale et la sociologie de la culture en livrent des points de départ pertinents. La mise en relation d’approches concernant l’espace et la pratique sociale issues de ces deux disciplines représente la base du modèle « espaces de frontière » qui permet de penser les frontières en tant qu’espaces et met en place une heuristique destinée à l’étude de constitutions spatiales centrées sur le sujet comme (re)productions des frontières. Les pratiques sociales, la connaissance pratique ainsi que les aspects physico-matériels et socio-structurels tels qu'ils sont appropriés et engendrés par les « frontaliers » dans des références transfrontalières, font partie des catégories d'analyse. [less ▲]

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See detailThe “Tone Effect” of News on Investor Beliefs: An Experimental Approach
Kräussl, Roman UL; Bosman,, Ronald; Schulze,, William et al

E-print/Working paper (2015)

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See detailFlat Z-graded connections and loop spaces
Arias Abad, Camilo; Schatz, Florian UL

E-print/Working paper (2015)

The pull back of a flat bundle E→X along the evaluation map π:LX→X from the free loop space LX to X comes equipped with a canonical automorphism given by the holonomies of E. This construction naturally ... [more ▼]

The pull back of a flat bundle E→X along the evaluation map π:LX→X from the free loop space LX to X comes equipped with a canonical automorphism given by the holonomies of E. This construction naturally generalizes to flat Z-graded connections on X. Our main result is that the restriction of this holonomy automorphism to the based loop space ΩX of X provides an A-infinity quasi-equivalence between the dg category of flat Z-graded connections on X and the dg category of representations of C(ΩX), the dg algebra of singular chains on ΩX. [less ▲]

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See detailInequality of opportunity during the great recession in Uganda
Palmisano, Flaviana UL; Brunori, Paolo; Peragine, Vito

E-print/Working paper (2015)

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See detailStudying employers’ risk assessment and the role of institutions: An experimental design
Shi, Penghui Lulu; Imdorf, Christian; Samuel, Robin UL

E-print/Working paper (2015)

Work Package 7 aims at understanding how early job insecurity can affect an individual’s future career from an employer’s perspective. By paying special attention to the educational background and gender ... [more ▼]

Work Package 7 aims at understanding how early job insecurity can affect an individual’s future career from an employer’s perspective. By paying special attention to the educational background and gender of the applicants, we plan to investigate how employers interpret young applicants’ job insecurity, for example in the form of unemployment or job-mismatch experiences, during recruitment. The negative effects of such experiences on an individual’s chances of being recruited successfully – so called scarring effects – may further vary depending on economic and institutional contexts such as country-specific economic or political conditions, educational structures or economic sectors. By surveying employers from different sectors, we will examine if and how these scarring effects vary between four different countries: Bulgaria, Greece, Norway and Switzerland. We will apply an innovative methodology in the form of an employer-sided survey with an integrated multidimensional vignette experiment in order to simulate the impact of multiple factor s on success and failure when young people who experienced job insecurities apply for new jobs. In the present working paper we summarise the major theoretical concepts that have been used to explain the scarring effects that can result from employer behaviour. Moreover, we outline how we plan to collect data in WP 7 in order to analyse scarring through decision-making on behalf of employers during the recruitment process [less ▲]

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See detailPosition space Feynman quadrics and their motives
Ceyhan, Ozgur UL

E-print/Working paper (2015)

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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 ▲]

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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 ▲]

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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 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 ▲]

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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 ▲]

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See detailMultilingualism in advertising and a shifting balance of languages in Luxembourg
De Bres, Julia UL

E-print/Working paper (2015)

Much research on multilingualism in advertising has been undertaken in comparatively mono-lingual settings. Whereas such research may provide insights into the connotations of lan-guages used in ... [more ▼]

Much research on multilingualism in advertising has been undertaken in comparatively mono-lingual settings. Whereas such research may provide insights into the connotations of lan-guages used in advertising, research in more multilingual contexts can also provide different kinds of insights regarding the relative status of languages in a multilingual environment. This article focuses on multilingualism in written advertising in the highly multilingual setting of Luxembourg, where the language situation is currently undergoing significant change due to patterns of globalisation and migration. Analysis of a mixed corpus of advertisements, includ-ing 1,038 advertisements in the free daily newspaper l’Essentiel from 2009 to 2011, as well as selected further advertisements from elsewhere within Luxembourg’s linguistic landscape, reflects a move within Luxembourg in general from a longstanding trilingualism in French, German and Luxembourgish to different kinds of multilingualism, incorporating both the presence of new languages and changes in the relative roles of French, German and Luxem-bourgish. Particularly significant is the presence of Luxembourgish as a written language of advertising, whereas it traditionally functioned mainly as a spoken language in Luxembourg. The article presents the results of a quantitative and qualitative analysis of the advertisements and discusses how multilingualism in written advertising provides a pertinent window on changing forms of multilingualism in Luxembourg. [less ▲]

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See detailRegards sur la violence
Heinz, Andreas UL; Steffgen, Georges UL; Bodson, Lucile et al

E-print/Working paper (2014)

Dans le cadre de l’enquête sur la sécurité 2013, 3 025 résidants ont été interrogés sur divers délits violents éventuellement subis. Il en ressort que 17% des personnes interviewées ont été harcelées au ... [more ▼]

Dans le cadre de l’enquête sur la sécurité 2013, 3 025 résidants ont été interrogés sur divers délits violents éventuellement subis. Il en ressort que 17% des personnes interviewées ont été harcelées au cours des 5 années précédant l’enquête (harcèlement moral / menaces / brimades), 4% ont été victimes de vols avec violence, 9% ont subi des violences physiques et 4% ont été victimes de violence sexuelle. Globalement, les jeunes résidants étaient plus exposés que les moins jeunes. Les hommes ont été deux fois plus souvent victimes de vols avec violence que les femmes alors que ces dernières ont beaucoup plus fréquemment vécu des agressions sexuelles. Les victimes de violence sexuelle ont également subi plus fréquemment de la violence physique. La classe d’âges des 25 – 34 ans se dit la moins inquiète par des atteintes physiques, même si elle est la plus concernée. Les hommes les appréhendent également moins que les femmes alors qu’ils en sont presque aussi souvent victimes. Parmi les personnes ayant subi de la violence physique entre 2008 et 2012, 38% en ont été victimes à plusieurs reprises. La plupart des agressions ont eu lieu au Grand-Duché (86%) et l’agresseur a le plus souvent agi seul (70%). 33% des victimes connaissaient leurs agresseurs de nom et dans 26% de ces cas il s’agissait de l’ex-conjoint. [less ▲]

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See detailIncome taxation and equity: new dominance criteria and an application to Romania
Brunori, Paolo; Palmisano, Flaviana UL; Peragine, Vito

E-print/Working paper (2014)

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See detailEssential Inputs and Unbounded Output: an Alternative Characterization of the Neoclassical Production Function
Irmen, Andreas UL; Maußner, Alfred

E-print/Working paper (2014)

The Inada (1963) conditions constitute a defining property of the neoclassical production function with capital and labor as arguments. Are these conditions justifiable on economic grounds? Yes, they are ... [more ▼]

The Inada (1963) conditions constitute a defining property of the neoclassical production function with capital and labor as arguments. Are these conditions justifiable on economic grounds? Yes, they are: we show that a production function with positive, yet diminishing marginal products and constant returns to scale satisfies the Inada conditions if i) both inputs are essential and ii) an unbounded quantity of either input leads to unbounded output. This allows for an alternative characterization of the neoclassical production function that altogether dispenses with the Inada conditions. Moreover, we establish that the marginal product of capital vanishes as capital goes to infinity if labor is an essential input. Given the intuitive appeal of the latter feature, we conclude that the neoclassical growth model is a theory of eventual stagnation. [less ▲]

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See detailLanguage and migration into Luxembourg
Tavares, Bernardino UL; Jurdana, Martin; Juffermans, Kasper UL

E-print/Working paper (2014)

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

This is the second in a series of research briefs in the STAR project. STAR stands for “Sociolinguistic trajectories and repertoires: Luso-Luxo-African identifications, interactions and imaginations”, and is a three-year CORE research project funded by FNR, Luxembourg. This multi-sited project contributes to the field of sociolinguistics of globalization by investigating language and migration between the global South (Cape Verde and Guinea Bissau) and the global North (Luxembourg) from the perspective of both accomplished and aspiring migrants. In this second research brief we outline sociolinguistic aspects of migration into Luxembourg, with a focus on its Lusophone population. [less ▲]

Detailed reference viewed: 235 (31 UL)
See detailTrajectories and repertoires as conceptual tools for a sociolinguistics of globalization
Juffermans, Kasper UL; Tavares, Bernardino UL

E-print/Working paper (2014)

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

This is the third in a series of research briefs in the STAR project. STAR stands for “Sociolinguistic trajectories and repertoires: Luso-Luxo-African identifications, interactions and imaginations”, and is a three-year CORE research project funded by FNR, Luxembourg. This multi-sited project contributes to the field of sociolinguistics of globalization by investigating language and migration between the global South (Cape Verde and Guinea Bissau) and North (Luxembourg) from the perspective of both accomplished and aspiring migrants. In this third research brief we outline the key conceptual concepts guiding the project, sociolinguistic trajectories and repertoires. [less ▲]

Detailed reference viewed: 252 (34 UL)
See detailField notes and Facebook: An open fieldwork diary in Guinea Bissau
Juffermans, Kasper UL

E-print/Working paper (2014)

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

This is the fourth in a series of research briefs in the STAR project. STAR stands for “Sociolinguistic trajectories and repertoires: Luso-Luxo-African identifications, interactions and imaginations”, and is a three-year CORE research project funded by FNR, Luxembourg. This multi-sited project seeks to contribute to the field of sociolinguistics of globalization by investigating language and migration between the global South (Cape Verde and Guinea Bissau) and North (Luxembourg) from the perspective of both accomplished and aspiring migrants. This fourth research brief reports on the exploratory fieldwork in Guinea Bissau by Kasper Juffermans from late August to early October 2014. It does so on the basis of Facebook posts sent from the field and reflects on the uses of Facebook as a means to make the fieldwork experience more transparent. [less ▲]

Detailed reference viewed: 188 (6 UL)
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See detailRegards sur la présence de drogue
Bodson, Lucile; Reichmann, Liliane; Heinz, Andreas UL et al

E-print/Working paper (2014)

Au cours des 12 derniers mois, 35% des résidents âgés de 16 ans et plus ont vu dans leur quartier des consommateurs de drogue, des dealers et/ou ils ont vu trainer des objets en lien avec la consommation ... [more ▼]

Au cours des 12 derniers mois, 35% des résidents âgés de 16 ans et plus ont vu dans leur quartier des consommateurs de drogue, des dealers et/ou ils ont vu trainer des objets en lien avec la consommation de drogue. Ce sont surtout des jeunes qui ont fait ce genre de constat. La présence de drogue est plus importante dans les pôles urbains que dans les communes rurales. Les consommateurs de drogue et les dealers, lorsqu’ils sont « souvent » présents dans le quartier, ont un effet anxiogène sur la population : certaines personnes sortent moins souvent la nuit et évitent de passer à des endroits ou d’emprunter des rues. Certaines personnes se sentent également plus exposées au risque de vol à la tire, de vol avec violence et de cambriolage. Par contre, lorsque ces rencontres avec des consommateurs ou des revendeurs de drogue sont plus exceptionnelles, celles-ci ne semblent pas jouer, ou très peu, sur le sentiment d’insécurité de la population. Les résultats présentés dans ce document sont tirés de l’enquête sur la sécurité de 2013. [less ▲]

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See detailLie superalgebras of Krichever-Novikov type
Schlichenmaier, Martin UL

E-print/Working paper (2014)

Classically, starting from the Witt and Virasoro algebra important examples of Lie superalgebras were constructed. In this write-up of a talk presented at the Bia\l owie\.za meetings we report on results ... [more ▼]

Classically, starting from the Witt and Virasoro algebra important examples of Lie superalgebras were constructed. In this write-up of a talk presented at the Bia\l owie\.za meetings we report on results on Lie superalgebras of Krichever-Novikov type. These algebras are multi-point and higher genus equivalents of the classical algebras. The grading in the classical case is replaced by an almost-grading. It is induced by a splitting of the set of points, were poles are allowed, into two disjoint subsets. With respect to a fixed splitting, or equivalently with respect to a fixed almost-grading, it is shown that there is up to rescaling and equivalence a unique non-trivial central extension of the Lie superalgebra of Krichever--Novikov type. It is given explicitly. [less ▲]

Detailed reference viewed: 104 (2 UL)
See detailMinimal diffeomorphism between hyperbolic surfaces with cone singularities
Toulisse, Jérémy UL

E-print/Working paper (2014)

We prove the existence of a minimal diffeomorphism isotopic to the identity between two hyperbolic cone surfaces (Σ,g1) and (Σ,g2) when the cone angles of g1 and g2 are different and smaller than π. When ... [more ▼]

We prove the existence of a minimal diffeomorphism isotopic to the identity between two hyperbolic cone surfaces (Σ,g1) and (Σ,g2) when the cone angles of g1 and g2 are different and smaller than π. When the cone angles of g1 are strictly smaller than the ones of g2, this minimal diffeomorphism is unique. [less ▲]

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Peer Reviewed
See detailEmergence of Sovereign Wealth Funds
Carpantier, Jean-Francois UL; Vermeulen, Wessel UL

E-print/Working paper (2014)

This paper tests the theoretically founded hypothesis that the surge of SWF establishments is determined by three main factors: 1) the existence of natural resources profits, 2) the government structure ... [more ▼]

This paper tests the theoretically founded hypothesis that the surge of SWF establishments is determined by three main factors: 1) the existence of natural resources profits, 2) the government structure and 3) the ability to invest usefully in the domestic economy. We test this hypothesis on a sample of 20 countries that established an SWF in the period 1998-2008 by comparing them to the roughly 100 countries that did not set up a fund in the same period. We find evidence for all three factors. The results suggest that SWFs tend to be established in countries that run an autocratic regime and have difficulties finding suitable opportunities for domestic investments. We do not find the net foreign asset position of a country to be similarly related to the explanatory variables, indicating that the establishment of an SWF is distinct from a national accounting result. We argue that our results indicate that it is relevant to study how an SWF interacts with the domestic economy and government policy. [less ▲]

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See detailIs Abatement Effective in the Presence of Corruption? A Theoretical Exploration
Litina, Anastasia UL; Sartzetakis, Eftichis; Lapatina, Athanasios

E-print/Working paper (2014)

The paper introduces an additional channel via which corruption may adversely affect environmental quality. It is argued that, in the presence of corruption, politicians may allocate a large fraction of ... [more ▼]

The paper introduces an additional channel via which corruption may adversely affect environmental quality. It is argued that, in the presence of corruption, politicians may allocate a large fraction of public funds to environmental projects aiming not at improving environmental quality, but rather at increasing their ability to extract rents. This type of behavior has a direct and an indirect effect on environmental quality. First, due to extensive rent-seeking, the effectiveness of environmental projects is disproportional to the amount of public funds allocated to them. Second, citizens who observe the poor outcome of environmental projects, increase tax evasion thus reducing public funds. A vicious circle of extensive tax evasion and rent seeking activities emerges, that has a detrimental effect on environmental quality. Anecdotal evidence from a number of countries that experience high levels of corruption, shows little or no improvements in environmental quality despite the implementation of environmental projects. In line with our theoretical findings, this ineffectiveness of the environmental policy is present even when the technology involved is advanced. [less ▲]

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See detailNon-optimal levels of a reducible mod l modular representation
Yoo, Hwajong UL

E-print/Working paper (2014)

Let $ell>3$ be a prime and $N$ is a square-free integer prime to $\ell$. For each prime divisor $p$ of $N$, let $a_p$ is either 1 or -1. We give a sufficient criterion for the existence of a newform $f ... [more ▼]

Let $ell>3$ be a prime and $N$ is a square-free integer prime to $\ell$. For each prime divisor $p$ of $N$, let $a_p$ is either 1 or -1. We give a sufficient criterion for the existence of a newform $f$ of weight 2 for $\Gamma_0(N)$ such that the mod $\ell$ Galois representation attached to $f$ is reducible and $U_p f= a_p f$ for prime divisors $p$ of $N$. The main techniques used are level raising methods based on an exact sequence due to Ribet. [less ▲]

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See detailRegards sur les répercussions émotionnelles ressenties par les victimes de délits
Heinz, Andreas UL; Steffgen, Georges UL; Bodson, Lucile et al

E-print/Working paper (2014)

Dans le cadre de l’enquête sur la sécurité, les personnes interrogées devaient indiquer si elles ont été victimes de délits (14 types de délits) lors des cinq dernières années et le cas échéant, signaler ... [more ▼]

Dans le cadre de l’enquête sur la sécurité, les personnes interrogées devaient indiquer si elles ont été victimes de délits (14 types de délits) lors des cinq dernières années et le cas échéant, signaler si le délit en question a eu sur eux des « répercussions émotionnelles plutôt fortes », des « répercussions émotionnelles plutôt légères » ou « aucune répercussion ». Les répercussions émotionnelles plutôt fortes ont le plus souvent été constatées chez les victimes d’actes de violence, et le moins souvent chez les victimes de demandes de pots-de-vin. Certes moins touchées par des délits que les plus jeunes, les personnes âgées affirment néanmoins plus souvent subir des répercussions émotionnelles plutôt fortes suite à ces délits. De même, les femmes sont un peu moins fréquemment victimes de délits mais, le cas échéant, font plus souvent état de répercussions émotionnelles plutôt fortes. Par ailleurs, les victimes d’actes criminels ayant abouti à des répercussions émotionnelles plutôt fortes se distinguent des non-victimes ainsi que des victimes qui n’ont mentionné aucune ou peu de répercussions émotionnelles, sous les aspects suivants : par rapport aux autres groupes susmentionnés, une attaque à main armée est pour eux plus probable, ils craignent davantage une agression et se sentent moins en sécurité dans leur quartier. En outre, ils apprécient moins le travail de la police et des tribunaux et se prononcent plutôt en faveur de peines de prison sans sursis. [less ▲]

Detailed reference viewed: 130 (12 UL)