The issue of state estimation is considered for a SIR model with seasonal variations and uncertainties in the transmission rate. Assuming continuous measurement of the number of new infectives per unit time, a class of ...

This paper explores how savings banks, cooperative banks, and development banks were founded as social reactions of self-defense in the 19th century, accumulated patient capital but suffered political capture in the early ...

We introduce skewed L evy models, characterized by a symmetric jump measure multiplied by dumping exponential factor. This models exhibit a clear implied volatility pattern, where the dumping parameter controls the skew ...

How does welfare change in the short- and long-run in high wage countries when integrating with low wage economies like China? Even if consumers benefit from lower prices, there can be significant welfare losses from ...

The external finance of small- and medium-sized enterprises (SMEs) is limited to private debt such as bank credit and trade credit. SMEs generally prefer bank credit over trade credit because the former tends to be less ...

We show that the usual inference methods used in Di fferences-in-Di fferences (DID) might not perform well with few treated groups and heteroskedastic errors. One important example is when there is variation in the number ...