infonet-economy

Much of the trading activity in Equity markets is directed to brokerage houses. In exchange they provide so-called “soft dollars,” which basically are amounts spent in “research” for identifying profitable trading opportunities. Soft dollars represent about USD 1 out of every USD 10 paid in commissions. Obviously they are costly, and it is interesting for an institutional investor to…

To assess the quality of the fit in a multiple linear regression, the coefficient of determination or R2 is a very simple tool, yet the most used by statistics users. It is well known that the classical (least-squares) fit and coefficient of determination can be arbitrary misleading in the presence of a single outlier. In many applied setting, the assumption of normality of the error…

Extreme value data with a high clump-at-zero occur in many domains. Moreover, it might happen that the observed data are either truncated below a given threshold and/or might not be reliable enough below that threshold because of the recording devices. This situations occurs in particular with radio audience data measured using personal meters that record environmental noise every…

We develop a discrete-time stochastic volatility option pricing model, which exploits the information contained in high-frequency data. The Realized Volatility (RV) is used as a proxy of the unobservable log-returns volatility. We model its dynamics by a simple but effective (pseudo) long memory process, the Heterogeneous Auto-Regressive Gamma with Leverage (HARGL) process. Both the…

Very light jets are designed to constitute a new category of small, cost efficient private jets. Their introduction to the market has been planned for almost a decade and could induce significant changes to the business aviation industry. Among the most discussed effects is the possible emergence of very light jet air taxi operators. Those operators plan to create a new value…

In this paper we investigate wealth inequality/polarization properties related to the support of the limit distribution of wealth in innovative economies characterized by uninsurable individual risk. We work out two simple successive generation examples, one with stochastic human capital accumulation and one with R&D, and prove that intense technological progress makes the…

This paper proposes to use dynamic treatment models to analyze the effects of fertility on labor market interactions. It argues that when large data sets are available the dynamic potential outcome model is an interesting modeling framework because it allows the careful consideration of the selection issues coming from the interaction of fertility and labor market decisions at…

In this Counterpoint, we build on Paauwe's suggestions to take the field of HRM and Performance further. Rather than aiming for a synthesis or proposing a radical alternative, we argue that R(econstructive)-reflexivity is needed for theorizing HRM. In particular, we bring in insights from critical studies on the notion of HRM, on the notion of performance, and on the theoretical…