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See detailOn the Cohomological Crepant Resolution Conjecture for the complexified Bianchi orbifolds
Perroni, Fabio; Rahm, Alexander UL

E-print/Working paper (in press)

We give formulae for the Chen--Ruan orbifold cohomology for the orbifolds given by a Bianchi group acting on complex hyperbolic 3-space. The Bianchi groups are the arithmetic groups PSL_2(A), where A is ... [more ▼]

We give formulae for the Chen--Ruan orbifold cohomology for the orbifolds given by a Bianchi group acting on complex hyperbolic 3-space. The Bianchi groups are the arithmetic groups PSL_2(A), where A is the ring of integers in an imaginary quadratic number field. The underlying real orbifolds which help us in our study, given by the action of a Bianchi group on real hyperbolic 3-space (which is a model for its classifying space for proper actions), have applications in physics. We then prove that, for any such orbifold, its Chen-Ruan orbifold cohomology ring is isomorphic to the usual cohomology ring of any crepant resolution of its coarse moduli space. By vanishing of the quantum corrections, we show that this result fits in with Ruan's Cohomological Crepant Resolution Conjecture. [less ▲]

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See detailThe edge-based strain smoothing method for compressible and nearly incompressible non-linear elasticity for solid mechanics
Lee, Chang-Kye; Mihai, L. Angela; Kerfriden, Pierre et al

E-print/Working paper (in press)

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See detailGenuine Bianchi modular forms of higher level, at varying weight and discriminant
Rahm, Alexander UL; Tsaknias, Panagiotis UL

E-print/Working paper (in press)

Bianchi modular forms are automorphic forms over an imaginary quadratic field, associated to a Bianchi group. Even though modern studies of Bianchi modular forms go back to the mid 1960's, most of the ... [more ▼]

Bianchi modular forms are automorphic forms over an imaginary quadratic field, associated to a Bianchi group. Even though modern studies of Bianchi modular forms go back to the mid 1960's, most of the fundamental problems surrounding their theory are still wide open. Only for certain types of Bianchi modular forms, which we will call "generic", it is possible at present to develop dimension formulas: They are (twists of) those forms which arise from elliptic cuspidal modular forms via the Langlands base-change procedure, or arise from a quadratic extension of the imaginary quadratic field via automorphic induction (so-called CM-forms). The remaining, non-"generic" Bianchi modular forms are what we call "genuine", and they are of interest for an extension of the modularity theorem (formerly the Taniyama-Shimura conjecture, crucial in the proof of Femat's Last Theorem) to imaginary quadratic fields. In a preceding paper by Rahm and Sengun, an extreme paucity of "genuine" cuspidal Bianchi modular forms has been reported, but those and other computations and were restricted to level One. In this paper, we are extending the formulas for the "generic" Bianchi modular forms to deeper levels, and we are able to spot the first, rare instances of "genuine" forms at deeper level and heavier weight. [less ▲]

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See detailYolanda von Vianden und das Yolanda-Epos
Sieburg, Heinz UL

E-print/Working paper (in press)

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See detailExpediting in Two-Echelon Spare Parts Inventory Systems
Drent, Melvin UL; Arts, Joachim UL

E-print/Working paper (2018)

We consider a two-echelon spare parts inventory system consisting of one central warehouse and multiple local warehouses. Each warehouse keeps multiple types of repairable parts to maintain several types ... [more ▼]

We consider a two-echelon spare parts inventory system consisting of one central warehouse and multiple local warehouses. Each warehouse keeps multiple types of repairable parts to maintain several types of capital goods. The local warehouses face Poisson demand and are replenished by the central warehouse. We assume that unsatisfied demand is backordered at all warehouses. Furthermore, we assume deterministic lead times for the replenishments of the local warehouses. The repair shop at the central warehouse has two repair options for each repairable part: a regular repair option and an expedited repair option. Both repair options have stochastic lead times. Irrespective of the repair option, each repairable part uses a certain resource for its repair. Assuming a dual-index policy at the central warehouse and base stock control at the local warehouses, an exact and efficient evaluation procedure for a given control policy is formulated. To find an optimal control policy, we look at the minimization of total investment costs under constraints on both the aggregate mean number of backorders per capital good type and the aggregate mean fraction of repairs that are expedited per repair resource. For this non-linear non-convex integer programming problem, we develop a greedy heuristic and an algorithm based on decomposition and column generation. Both solution approaches perform very well with average optimality gaps of 1.56 and 0.23 percent, respectively, across a large test bed of industrial size. Based on a case study at Netherlands Railways, we show how managers can significantly reduce the investment in repairable spare parts when dynamic repair policies are leveraged to prioritize repair of parts whose inventory is critically low. [less ▲]

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See detailClassifications of quasitrivial semigroups
Devillet, Jimmy UL; Marichal, Jean-Luc UL; Teheux, Bruno UL

E-print/Working paper (2018)

We investigate classifications of quasitrivial semigroups defined by certain equivalence relations. The subclass of quasitrivial semigroups that preserve a given total ordering is also investigated. In ... [more ▼]

We investigate classifications of quasitrivial semigroups defined by certain equivalence relations. The subclass of quasitrivial semigroups that preserve a given total ordering is also investigated. In the special case of finite semigroups, we address and solve several related enumeration problems. [less ▲]

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See detailUPCYCLING POLYMERS: A REVOLUTIONARY APPROACH TO PROMOTING THE CIRCULAR ECONOMY
Wolf, Claude UL; Kedziora, Slawomir UL

E-print/Working paper (2018)

The UPcycling using Additive Manufacturing (UpAM) project seeks to introduce an innovative educational and interactive framework to demonstrate the benefits of upcycling so that any individual can produce ... [more ▼]

The UPcycling using Additive Manufacturing (UpAM) project seeks to introduce an innovative educational and interactive framework to demonstrate the benefits of upcycling so that any individual can produce their own products using recycled raw materials. For years, societies have been aware that the unlimited consumption of products is unavoidably intertwined with the unlimited production of waste. This is exactly why scientists and researchers have been trying to find alternative and meaningful solutions to the Linear Economy model, a model that dictates a specific sequence of events: extracting raw materials, manufacturing products, consuming and discarding these products. Looking beyond that ‘take, make, dispose’ approach, it was in 1989 that the notion of Circular Economy (CE) was first proposed by Pearce and Turner; a concept that is restorative and regenerative and that involves reusing products, repairing, recycling and upcycling. Therefore, the core element of this innovative and environmentally-friendly model is to rely on system-wide innovative processes in order to redefine products, services and, most importantly, our way of thinking, to design waste out, thus allowing a profound transition to renewable energy sources [less ▲]

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See detailTägliches Essen von Obst und Gemüse
van Duin, Claire UL; Residori, Caroline UL; Kern, Matthias Robert UL et al

E-print/Working paper (2018)

Ein hoher Gemüse- und Obstverzehr ist Teil eines gesunden Lebensstils. In der HBSC-Studie 2014 wurden die Schüler daher gefragt, wie häufig sie Obst und Gemüse essen: 37 % gaben an, täglich Obst zu essen ... [more ▼]

Ein hoher Gemüse- und Obstverzehr ist Teil eines gesunden Lebensstils. In der HBSC-Studie 2014 wurden die Schüler daher gefragt, wie häufig sie Obst und Gemüse essen: 37 % gaben an, täglich Obst zu essen und 32 % gaben den täglichen Verzehr von Gemüse an. Schüler der Altersgruppe 11-12 essen häufiger Obst und Gemüse als Schüler im Alter von 13-18. Der tägliche Konsum von Obst und Gemüse ist bei Mädchen häufiger als bei Jungen. Des Weiteren ist der tägliche Konsum bei Schülern aus wohlhabenden Familien weiter verbreitet als bei Schülern aus nicht wohlhabenden Familien. Schüler des Fondamental und des Enseignement secondaire geben einen täglichen Verzehr häufiger an als Schüler des Enseignement secondaire technique und des Modulaire. [less ▲]

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See detailBewertung des Klassenklimas
van Duin, Claire UL; Heinz, Andreas UL; Kern, Matthias Robert UL et al

E-print/Working paper (2018)

In der HBSC-Studie 2014 sollten die Schüler die folgende Aussage zum Klassenklima bewerten: „Die meisten Schüler in meiner Klasse sind nett und hilfsbereit.“ 72 % stimmen dieser Aussage zu, 10 % lehnen ... [more ▼]

In der HBSC-Studie 2014 sollten die Schüler die folgende Aussage zum Klassenklima bewerten: „Die meisten Schüler in meiner Klasse sind nett und hilfsbereit.“ 72 % stimmen dieser Aussage zu, 10 % lehnen sie ab und 18 % wählen die neutrale Mittelkategorie. Getrennt nach Alter und Geschlecht zeigen sich kaum Unterschiede im wahrgenommenen Klassenklima. Allerdings bewerten Schüler des Fondamental und des Secondaire das Klassenklima besser als Schüler des Secondaire technique und des Modulaire. Je besser das Klassenklima bewertet wird, desto zufriedener sind die Schüler mit ihrem Leben und desto mehr mögen sie die Schule. [less ▲]

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See detailMobbing in der Schule
Heinz, Andreas UL; van Duin, Claire UL; Kern, Matthias Robert UL et al

E-print/Working paper (2018)

In der Kindheit und Jugend gemobbt zu werden ist ein Risikofaktor für schlechtere Schulleistungen, aber langfristig auch für Angststörungen im Erwachsenenalter. Daher wurde in der HBSC-Studie 2014 gefragt ... [more ▼]

In der Kindheit und Jugend gemobbt zu werden ist ein Risikofaktor für schlechtere Schulleistungen, aber langfristig auch für Angststörungen im Erwachsenenalter. Daher wurde in der HBSC-Studie 2014 gefragt, wie häufig die Schüler in den vergangenen Monaten in der Schule gemobbt wurden. 73 % waren nicht von Mobbing betroffen, 16 % wurden 1- bis 2-mal gemobbt und 11 % wurden mindestens 2-mal pro Monat gemobbt. Ältere Schüler waren seltener Opfer von Mobbing als jüngere Schüler, wobei Jungen und Mädchen in allen Altersgruppen ähnlich häufig betroffen waren. Dementsprechend waren die Schüler des Fondamental und des Modulaire häufiger betroffen als die Schüler des Secondaire technique und des Secondaire. Schüler, die aus Familien mit einem geringen Wohlstandsniveau stammen, waren häufiger Mobbingopfer als Schüler aus wohlhabenden Familien. Mit der Häufigkeit des Mobbings sinkt die Lebenszufriedenheit und die Zahl der Gesundheitsbeschwerden steigt. [less ▲]

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See detailQualität der Kommunikation in der Familie
Heinz, Andreas UL; Kern, Matthias Robert UL; Residori, Caroline UL et al

E-print/Working paper (2018)

In der HBSC-Studie 2014 sollten die Schüler vier Aussagen zur Qualität der Kommunikation in ihrer Familie auf einer Skala von 1 (= niedrige Qualität) bis 5 (= hohe Qualität) bewerten. Über 80 % vergeben ... [more ▼]

In der HBSC-Studie 2014 sollten die Schüler vier Aussagen zur Qualität der Kommunikation in ihrer Familie auf einer Skala von 1 (= niedrige Qualität) bis 5 (= hohe Qualität) bewerten. Über 80 % vergeben gute Bewertungen im Bereich von 4 oder 5. Rund 12 % der Schüler bewerten die Qualität der Familienkommunikation im mittleren Bereich (3) und 5 % vergeben niedrige Bewertungen (1 oder 2). Ältere Schüler bewerten die Familienkommunikation schlechter als jüngere. Dementsprechend bewerten Schüler des Fondamental die Familienkommunikation besser als Schüler von Sekundarschulen. Schüler, die eine hohe Qualität angeben, berichten eine geringere Zahl von Gesundheitsbeschwerden. [less ▲]

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See detailKörperliche Aktivität von Schülern in ihrer Freizeit
Heinz, Andreas UL; Kern, Matthias Robert UL; Residori, Caroline UL et al

E-print/Working paper (2018)

In der HBSC-Studie 2014 wurden die Schüler gefragt, wie häufig sie in ihrer Freizeit so aktiv sind, dass sie außer Atem oder ins Schwitzen kommen. Rund jeder zehnte Schüler ist nach eigenen Angaben nie ... [more ▼]

In der HBSC-Studie 2014 wurden die Schüler gefragt, wie häufig sie in ihrer Freizeit so aktiv sind, dass sie außer Atem oder ins Schwitzen kommen. Rund jeder zehnte Schüler ist nach eigenen Angaben nie körperlich aktiv, rund jeder sechste ist hingegen an 7 Stunden oder häufiger pro Woche aktiv. Im internationalen Vergleich sind die luxemburgischen Schüler überdurchschnittlich häufig körperlich aktiv. Allerdings nimmt die Aktivität im Laufe der Jugend ab und bestimmte Gruppen sind aktiver als andere: Jungen sind in allen Altersgruppen aktiver als Mädchen und Kinder aus wohlhabenden Familien sind aktiver als Kinder aus nicht wohlhabenden Familien. Schüler des Enseignement secondaire sind aktiver als Schüler des Modulaire. [less ▲]

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See detailFernsehkonsum von Schülern
van Duin, Claire UL; Heinz, Andreas UL; Kern, Matthias Robert UL et al

E-print/Working paper (2018)

In der HBSC-Studie 2014 wurden die Schüler gefragt, wie lange sie an einem Wochentag fernsehen. Knapp 8 % geben an, nicht fernzusehen, weitere 19 % schauen eine halbe Stunde fern. 57 % schauen 2 Stunden ... [more ▼]

In der HBSC-Studie 2014 wurden die Schüler gefragt, wie lange sie an einem Wochentag fernsehen. Knapp 8 % geben an, nicht fernzusehen, weitere 19 % schauen eine halbe Stunde fern. 57 % schauen 2 Stunden oder mehr fern, was als häufiger TV-Konsum definiert wird. Bei Schülern im Alter von 13-18 ist häufiger TV-Konsum weiter verbreitet als bei Schülern im Alter von 11-12. Des Weiteren ist häufiger TV-Konsum verbreiteter bei Schülern des Secondaire technique als bei Schülern des Fondamental sowie des Secondaire. Schüler, die davon ausgehen, dass ihre Lehrer sie für leistungsschwach halten, schauen häufiger Fernsehen als Schüler, die denken, dass ihre Lehrer sie für überdurchschnittlich leistungsfähig halten. [less ▲]

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See detailParallel coordinate descent algorithms for sparse phase retrieval
Yang, Yang UL; Pesavento, Marius; Eldar, Yonina C. et al

E-print/Working paper (2018)

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See detailInvariance in a class of operations related to weighted quasi-geometric means
Devillet, Jimmy UL; Matkowski, Janusz

E-print/Working paper (2018)

Let $I\subset (0,\infty )$ be an interval that is closed with respect to the multiplication. The operations $C_{f,g}\colon I^{2}\rightarrow I$ of the form \begin{equation*} C_{f,g}\left( x,y\right) =\left ... [more ▼]

Let $I\subset (0,\infty )$ be an interval that is closed with respect to the multiplication. The operations $C_{f,g}\colon I^{2}\rightarrow I$ of the form \begin{equation*} C_{f,g}\left( x,y\right) =\left( f\circ g\right) ^{-1}\left( f\left( x\right) \cdot g\left( y\right) \right) \text{,} \end{equation*} where $f,g$ are bijections of $I$ are considered. Their connections with generalized weighted quasi-geometric means is presented. It is shown that invariance\ question within the class of this operations leads to means of iterative type and to a problem on a composite functional equation. An application of the invariance identity to determine effectively the limit of the sequence of iterates of some generalized quasi-geometric mean-type mapping, and the form of all continuous functions which are invariant with respect to this mapping are given. The equality of two considered operations is also discussed. [less ▲]

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See detailThe re-constitutionalisation of the EMU after the economic crisis
Zaccaroni, Giovanni UL

E-print/Working paper (2018)

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See detailData Filtering Rules in Option Valuation
Bams, Dennis; Blanchard, Gildas; Lehnert, Thorsten UL

E-print/Working paper (2018)

The choice of data filtering rules are, next to model selection and parameter calibration, an important step in an option pricing exercise. We illustrate the implications of data filtering rules, by ... [more ▼]

The choice of data filtering rules are, next to model selection and parameter calibration, an important step in an option pricing exercise. We illustrate the implications of data filtering rules, by investigating three alternative renowned filtering rules in the context of pricing European S&P 500 index options. Different filtering rules result in strongly diverging samples, which carry different information and therefore lead to different parameter estimates. This is illustrated for the Ad Hoc Black-Scholes model. No filtering rule is, in terms of pricing performance, superior on the whole range of options. Instead, each filtering rule is specialized toward better pricing of options types that were included in the calibration sample at the costs of excluded options. Included options are unable to perfectly represent the properties and characteristics of excluded options. In particular, option prices are heterogeneous in the maturity dimension, which is a major driving force underlying the impact of exclusion filters on pricing performance. Additionally, small deviations from the put-call parity strongly affect parameter estimates as well as the accompanying pricing performance. These results emphasize the prominent role of filtering rules as an important implicit choice for an option pricing model calibration. [less ▲]

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See detailMarket Skewness Risk, Risk Aversion and the Cross-Section of Stock Returns
Bams, Dennis; Honarvar, Iman; Lehnert, Thorsten UL

E-print/Working paper (2018)

Previous research suggests that the cross section of stock returns has substantial exposure to risks captured by higher moments of market returns, implied by S&P500 index option prices. However, assuming ... [more ▼]

Previous research suggests that the cross section of stock returns has substantial exposure to risks captured by higher moments of market returns, implied by S&P500 index option prices. However, assuming that risk aversion is time-varying, a risk-based explanation would suggest that the exposure is priced in periods of high risk aversion, while it is not necessarily priced/weaker in periods of low risk aversion. We find that for market skewness and kurtosis, this hypothesis is not supported by the data. We find that each of the higher moment prices of risk is time-varying and has significantly different patterns under different market conditions, proxied by a measure of investors’ relative risk aversion. In particular, in line with our reasoning, our results suggest that only in down-markets (high risk aversion periods), the exposure to the market volatility innovations is priced significantly negative in the cross-section of stocks, while it is not priced in up-markets (low risk aversion periods). In contrast, we find that in down-markets, market skewness and kurtosis are not priced risk factors, while the price of market skewness risk is significantly negative and the price of kurtosis risk is positive in up-markets. However, the previously reported results for skewness and kurtosis are counterintuitive, strictly violate the risk compensation principles and, therefore, do not support a risk-based explanation. The results persist even after controlling for the Fama-French and Carhart factors. [less ▲]

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See detailModel Uncertainty and Pricing Performance in Option Valuation
Bams, Dennis; Blanchard, Gildas; Lehnert, Thorsten UL

E-print/Working paper (2018)

The objective of this paper is to evaluate option pricing model performance at the cross sectional level. For this purpose, we propose a statistical framework, in which we in particular account for the ... [more ▼]

The objective of this paper is to evaluate option pricing model performance at the cross sectional level. For this purpose, we propose a statistical framework, in which we in particular account for the uncertainty associated with the reported pricing performance. Instead of a single figure, we determine an entire probability distribution function for the loss function that is used to measure option pricing model performance. This methodology enables us to visualize the effect of parameter uncertainty on the reported pricing performance. Using a data driven approach, we confirm previous evidence that standard volatility models with clustering and leverage effects are sufficient for the option pricing purpose. In addition, we demonstrate that there is short-term persistence but long-term heterogeneity in cross-sectional option pricing information. This finding has two important implications. First, it justifies the practitioner’s routine to refrain from time series approaches, and instead estimate option pricing models on a cross-section by cross-section basis. Second, the long term heterogeneity in option prices pinpoints the importance of measuring, comparing and testing option pricing model for each cross-section separately. To our knowledge no statistical testing framework has been applied to a single cross-section of option prices before. We propose a methodology that addresses this need. The proposed framework can be applied to a broad set of models and data. In the empirical part of the paper, we show by means of example, an application that uses a discrete time volatility model on S&P 500 European options. [less ▲]

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See detailIslamic Banking and Economic Growth: New Evidence
Kchouri, Bilal UL; Lehnert, Thorsten UL

E-print/Working paper (2018)

While extensive work has shown that conventional banking development is generally conducive to economic growth, there are only a limited number of studies that investigate the impact of Islamic banking ... [more ▼]

While extensive work has shown that conventional banking development is generally conducive to economic growth, there are only a limited number of studies that investigate the impact of Islamic banking. Importantly, the literature on conventional banking claims that a reverse causality from economy performance to banking may exists, but existing studies on Islamic banking fail to address this potential endogeneity problem. This paper tackles this problem and explores the relationship between Islamic banking development and economic performance in a sample of 32 developed and developing countries based on data spanning the 2000 to 2016 period. The findings show that, although Islamic banks are considered small relative to the total size of the financial sector, Islamic banking is positively correlated with economic growth even after controlling for financial structure, macroeconomic factors and other variables. The outcome is robust across different econometric specifications like pooling OLS, fixed effects, panel data with over-identified GMM, and dynamic difference GMM. The results are confirmed on two different indicators of Islamic banking and hold for different time periods. [less ▲]

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See detailThe Subsidy to Infrastructure as an Asset Class*
Kräussl, Roman UL; Andonov, Aleksandar; Rauh, Joshua

E-print/Working paper (2018)

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See detailAsset Pricing Implications of Risk Governance
Lehnert, Thorsten UL

E-print/Working paper (2018)

Some of the world’s poorest countries have demonstrated that political leadership and practical policies make a difference. Good governance could help to strengthen accountability, enhance participation ... [more ▼]

Some of the world’s poorest countries have demonstrated that political leadership and practical policies make a difference. Good governance could help to strengthen accountability, enhance participation and break down inequalities. Furthermore, a country’s quality of government has a positive effect on the development of its financial market and equity returns. In particular, it lowers equity volatility and, therefore, the costs of equity financing, which further helps to reduce inequalities. While price jumps are prevalent in stock markets all over the world, previous literature provides little guidance about the international nature of jumps and its relationship with country characteristics. Jumps are found to be far less systematic than the smooth (non-jump) component of country price indexes. Hence, if jumps are more idiosyncratic, risk governance should primarily affect the jump risk component of stock market volatility. This is good news for international investors, because diversification provides insurance against jumps. Relying on an equilibrium asset-pricing model in an economy under jump diffusion, I decompose the moments of the returns of international stock markets into a diffusive (systematic) risk and a (idiosyncratic) jump risk part. Using stock market data for a balanced panel of 52 countries, my results suggest that risk governance is an important determinant of (idiosyncratic) jump risk. Stock markets in poorly governed countries are characterized by higher volatility and more negative return asymmetry, primarily driven by the higher jump risk. Among the different governance indicators analyzed, the regulatory quality, the government effectiveness and the control of corruption appear to be most important. Results are robust to the inclusion of various controls for other country- or market-specific characteristics. My results have important policy implications. [less ▲]

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See detail"Was hältst du zurzeit von der Schule?"
van Duin, Claire UL; Heinz, Andreas UL; Kern, Matthias Robert UL et al

E-print/Working paper (2018)

Die Schule ist ein wichtiger Ort der Sozialisation, an dem die Schüler viel Zeit verbringen. Positive Erfahrungen mit der Schule können die soziale und gesundheitliche Entwicklung der Schüler fördern ... [more ▼]

Die Schule ist ein wichtiger Ort der Sozialisation, an dem die Schüler viel Zeit verbringen. Positive Erfahrungen mit der Schule können die soziale und gesundheitliche Entwicklung der Schüler fördern, negative Erfahrungen können die Entwicklung beeinträchtigen. Daher wurde in der HBSC-Studie 2014 gefragt, wie sehr die Schüler ihre Schule mögen. Von den 11-12-Jährigen mögen 30 % die Schule sehr, weitere 52 % mögen sie einigermaßen. In der Gruppe der 15-16-Jährigen mögen 11 % die Schule sehr und 15 % mögen sie überhaupt nicht. Dementsprechend mögen Schüler des Fondamental ihre Schule eher als Schüler an Sekundarschulen. Zwischen den Schultypen Secondaire, Secondaire technique und Modulaire gibt es hingegen kaum Unterschiede. Je mehr sich Schüler durch die Schularbeit gestresst fühlen, desto eher mögen sie die Schule nicht. Sie mögen sie auch dann eher nicht, wenn sie vermuten, dass ihre Lehrer sie für leistungsschwach halten. Je weniger die Schüler ihre Schule mögen, desto mehr Gesundheitsbeschwerden berichten sie. [less ▲]

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See detailTabakkonsum von Schülern in Luxemburg
Kern, Matthias Robert UL; Heinz, Andreas UL; Residori, Caroline UL et al

E-print/Working paper (2018)

In der HBSC-Studie 2014 wurden Fragen zum Tabakkonsum gestellt. Von den 11-12-Jährigen sind 2 % laut eigenen Angaben Raucher, in der Altersgruppe 17-18 steigt dieser Anteil auf knapp über ein Drittel. Bis ... [more ▼]

In der HBSC-Studie 2014 wurden Fragen zum Tabakkonsum gestellt. Von den 11-12-Jährigen sind 2 % laut eigenen Angaben Raucher, in der Altersgruppe 17-18 steigt dieser Anteil auf knapp über ein Drittel. Bis zum Alter von 14 Jahren ist der Anteil der regelmäßigen Raucher (d.h. sie rauchen mindestens einmal pro Woche) bei Jungen und Mädchen etwa gleich hoch. In der Altersgruppe 17-18 rauchen 32 % der männlichen Jugendlichen regelmäßig, aber nur 23 % der weiblichen Jugendlichen. Im Enseignement secondaire technique ist der Anteil der regelmäßigen Raucher in allen Altersgruppen ungefähr doppelt so hoch wie im Enseignement secondaire. Die Hälfte der Raucher hat mit 14 Jahren oder noch früher mit dem Rauchen angefangen, daher sollte frühzeitig über die Gefahren des Rauchens aufgeklärt werden. [less ▲]

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See detailFrühstückgewohnheiten
Residori, Caroline UL; van Duin, Claire UL; Kern, Matthias Robert UL et al

E-print/Working paper (2018)

In der HBSC-Studie 2014 wurden die Schüler gefragt, ob sie an allen Schultagen frühstücken. Tägliches Frühstücken nimmt mit dem Alter ab: Während im Alter von 11-12 rund zwei Drittel der Schüler täglich ... [more ▼]

In der HBSC-Studie 2014 wurden die Schüler gefragt, ob sie an allen Schultagen frühstücken. Tägliches Frühstücken nimmt mit dem Alter ab: Während im Alter von 11-12 rund zwei Drittel der Schüler täglich frühstücken, sind es weniger als die Hälfte der Schüler im Alter von 17-18. Im Alter von 11-16 ist tägliches Frühstücken bei Jungen häufiger verbreitet als bei Mädchen, in der Altersgruppe 17-18 gibt es keine Unterschiede. Die befragten Schüler frühstücken umso eher täglich, je höher der Wohlstand der Familie ist, in der sie aufwachsen. Tägliches Frühstücken ist bei Schülern im Fondamental häufiger verbreitet als bei Schülern an Sekundarschulen. Innerhalb der Sekundarschulen ist tägliches Frühstücken am weitesten verbreitet im Enseignement secondaire und am seltensten im Modulaire. [less ▲]

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See detailSchulischer Stress
van Duin, Claire UL; Heinz, Andreas UL; Kern, Matthias Robert UL et al

E-print/Working paper (2018)

In der HBSC-Studie wurde den Schülern die Frage gestellt: „Fühlst du dich durch die Schularbeit gestresst?“ Insgesamt antworteten 21 % „überhaupt nicht“, 44 % „ein bisschen“, 19 % „einigermaßen“ und 17 ... [more ▼]

In der HBSC-Studie wurde den Schülern die Frage gestellt: „Fühlst du dich durch die Schularbeit gestresst?“ Insgesamt antworteten 21 % „überhaupt nicht“, 44 % „ein bisschen“, 19 % „einigermaßen“ und 17 % „sehr“. Je älter die Schüler sind, desto häufiger geben sie an, unter Schulstress zu leiden. Unter den älteren Schülern sind Mädchen eher von Schulstress betroffen als Jungen. Am häufigsten fühlen sich Schüler des Enseignement secondaire von der Schularbeit gestresst, am seltensten Schüler des Fondamentals, Schüler des Secondaire technique liegen dazwischen. Schüler, die davon ausgehen, dass ihre Lehrer sie für überdurchschnittlich leistungsfähig halten, geben seltener Schulstress an als Schüler, die annehmen, dass ihre Lehrer sie für durchschnittlich oder unterdurchschnittlich leistungsfähig halten. Schüler, die einen stärkeren Schulstress angeben, geben auch an, unter mehr Gesundheitsbeschwerden zu leiden (Kopf-, Bauch- und Rückenschmerzen, Traurigkeit, Gereiztheit, Nervosität, Einschlafschwierigkeiten und Schwindel). [less ▲]

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See detailAlkoholkonsum von Schülern in Luxemburg
Catunda, Carolina UL; van Duin, Claire UL; Kern, Matthias Robert UL et al

E-print/Working paper (2018)

In der HBSC-Studie 2014 wurden die Schüler gefragt, ob sie in den vergangenen 30 Tagen Alkohol getrunken haben. Von den 11-12-Jährigen gaben dies 4 % an, in der Altersgruppe 17-18 waren es 68 %. Bis zum ... [more ▼]

In der HBSC-Studie 2014 wurden die Schüler gefragt, ob sie in den vergangenen 30 Tagen Alkohol getrunken haben. Von den 11-12-Jährigen gaben dies 4 % an, in der Altersgruppe 17-18 waren es 68 %. Bis zum Alter von 16 Jahren geben Jungen und Mädchen ähnlich häufig Alkoholkonsum an. In der Altersgruppe 17-18 haben männliche Jugendliche häufiger als weibliche Jugendliche Alkohol getrunken (73 % vs. 63 % in den vergangenen 30 Tagen). Ältere Jugendliche aus wohlhabenden Familien gaben häufiger Alkoholkonsum an als Jugendliche aus Familien mit geringem Wohlstand (74 % vs. 63 %). Zudem konsumieren die 15-18-jährigen Schüler des Enseignement secondaire häufiger Alkohol als die Schüler des Enseignement secondaire technique. Verglichen mit 15-jährigen Schülern aus anderen Ländern geben die luxemburgischen Schüler seltener an, bereits zweimal oder häufiger in ihrem Leben betrunken gewesen zu sein. [less ▲]

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See detailGeschlechtsverkehr und Verhütung
van Duin, Claire UL; Heinz, Andreas UL; Kern, Matthias Robert UL et al

E-print/Working paper (2018)

In der HBSC-Studie 2014 wurden den Schülern von Sekundarschulen Fragen zu Sexualität und Verhütung gestellt. Von den männlichen Jugendlichen im Alter von 15 Jahren gaben 27 % an, schon Geschlechtsverkehr ... [more ▼]

In der HBSC-Studie 2014 wurden den Schülern von Sekundarschulen Fragen zu Sexualität und Verhütung gestellt. Von den männlichen Jugendlichen im Alter von 15 Jahren gaben 27 % an, schon Geschlechtsverkehr gehabt zu haben, bei den weiblichen Jugendlichen liegt der Anteil mit 22 % etwas darunter. Von den 18-Jährigen gaben jeweils rund zwei Drittel an, schon mit jemandem geschlafen zu haben. Schüler des Enseignement secondaire technique geben häufiger als ihre Altersgenossen im Enseignement secondaire an, schon Geschlechtsverkehr gehabt zu haben. Bei ihrem letzten Geschlechtsverkehr haben 68 % mit Kondomen verhütet und 55 % mit der Pille. Jungen wussten häufiger als die Mädchen nicht, welche Verhütungsmittel sie genutzt haben. Dies deutet darauf hin, dass Jungen in Verhütungsfragen sorgloser sind und ein Teil von ihnen Verhütung als Frauensache ansieht. Rund 3 % der sexuell aktiven Schüler gaben ein riskantes Verhütungsverhalten an: Sie haben beim letzten Geschlechtsverkehr mittels Koitus interruptus verhütet und sie haben auf andere Methoden verzichtet oder sie wussten nicht, ob der Partner bzw. die Partnerin zusätzlich eine sichere Methode einsetzt. [less ▲]

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See detailCannabiskonsum von Schülern in Luxemburg
Heinz, Andreas UL; Kern, Matthias Robert UL; Residori, Caroline UL et al

E-print/Working paper (2018)

In der HBSC-Studie 2014 wurde nach dem Cannabiskonsum der Schüler gefragt. 38 % der 17-18-Jährigen haben laut eigenen Angaben mindestens einmal in ihrem Leben Cannabis probiert, in den vergangenen 30 ... [more ▼]

In der HBSC-Studie 2014 wurde nach dem Cannabiskonsum der Schüler gefragt. 38 % der 17-18-Jährigen haben laut eigenen Angaben mindestens einmal in ihrem Leben Cannabis probiert, in den vergangenen 30 Tagen haben in dieser Altersgruppe 15 % Cannabis konsumiert. Der „Probierkonsum“ ist somit deutlich weiter verbreitet als der regelmäßige Konsum. Je älter die Schüler sind, desto höher ist der Anteil der Cannabiskonsumenten, wobei der Anstieg bei den Jungen größer ist als bei den Mädchen. Von den 17-18-Jährigen haben 20 % der Jungen in den vergangenen 30 Tagen Cannabis genommen, aber nur 11 % der Mädchen. Die Häufigkeit des Konsums unterscheidet sich kaum je nach Wohlstand der Familie oder zwischen dem Enseignement secondaire und dem Enseignement secondaire technique. Ein Viertel der Konsumenten hat bis zum Alter von rund 14 Jahren mit dem Konsum angefangen, daher sollte die Prävention frühzeitig einsetzen. [less ▲]

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See detailSignaling or Marketing? The Role of Discount Control Mechanisms
Kräussl, Roman UL; Polletc, Joshua; Stefanova, Denitsa UL

E-print/Working paper (2018)

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See detailThe Performance of Marketplace Lenders:
Kräussl, Roman UL; Kräussl, Zsofia UL; Pollet, Joshua et al

E-print/Working paper (2018)

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See detailLe surpoids chez les élèves au Luxembourg
Kern, Matthias Robert UL; Heinz, Andreas UL; Catunda, Carolina UL et al

E-print/Working paper (2018)

Dans le cadre de l’enquête HBSC 2014, réalisée dans plusieurs pays de l’Union européenne, les élèves étaient interrogés concernant leur taille et leur poids pour permettre de calculer leur indice de masse ... [more ▼]

Dans le cadre de l’enquête HBSC 2014, réalisée dans plusieurs pays de l’Union européenne, les élèves étaient interrogés concernant leur taille et leur poids pour permettre de calculer leur indice de masse corporelle (IMC). Parmi les participants, 13 % sont trop maigres, 72 % ont un poids normal, 13 % sont en surpoids et 3 % sont obèses. En comparant avec les autres pays, il y a relativement peu d’enfants de 11 ans au Luxembourg en surpoids. La proportion des élèves de 15 ans en situation de surpoids se trouve au niveau de la moyenne internationale. Les enfants issus de familles de niveau socio-économique élevé ont un risque plus faible d’être en surpoids que ceux des familles avec un niveau plus bas. Les élèves de l’enseignement fondamental et du secondaire sont moins susceptibles d’être en surpoids que ceux du secondaire technique et du modulaire. [less ▲]

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See detailLa satisfaction de vie des élèves au Luxembourg
Kern, Matthias Robert UL; Heinz, Andreas UL; Catunda, Carolina UL et al

E-print/Working paper (2018)

Dans le cadre de l’enquête HBSC 2014, les élèves devaient indiquer à quel point ils étaient satisfaits de leur vie. La valeur « 0 » signifiait « la plus mauvaise vie possible » et la valeur « 10 » ... [more ▼]

Dans le cadre de l’enquête HBSC 2014, les élèves devaient indiquer à quel point ils étaient satisfaits de leur vie. La valeur « 0 » signifiait « la plus mauvaise vie possible » et la valeur « 10 » signifiait « la meilleur vie possible ». Parmi les participants du Luxembourg, 82 % ont indiqué une valeur de 6 ou plus, ce qui est défini comme étant « un niveau de satisfaction de vie élevé ». Pour 10 % d’entre eux, la satisfaction de vie était cotée avec la valeur moyenne de 5 et les 8 % restants ont indiqué une valeur inférieure à 5. La satisfaction de vie des filles moins âgées est plus élevée que celle des filles plus âgées. Chez les garçons, par contre, la satisfaction de vie reste pratiquement constante de 11 à 18 ans. Les garçons sont plus satisfaits de leur vie que les filles, ainsi que les enfants issus des familles avec un niveau socio-économique élevé, en comparaison avec ceux issus des familles ayant un niveau socio-économique faible. La satisfaction de vie est également liée aux problèmes de santé : les élèves qui indiquent souffrir fréquemment de douleurs, de tristesse, de mauvaise humeur / d’irritabilité, de nervosité, de problèmes à s’endormir ou de vertiges sont moins souvent satisfaits de leur vie. [less ▲]

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See detailLes problèmes de santé des élèves luxembourgeois
Heinz, Andreas UL; Kern, Matthias Robert UL; Catunda, Carolina UL et al

E-print/Working paper (2018)

Dans le cadre de l’enquête HBSC 2014, réalisée dans plusieurs pays de l’Union européenne, les élèves interrogés devaient indiquer la fréquence à laquelle ils souffraient des huit problèmes de santé ... [more ▼]

Dans le cadre de l’enquête HBSC 2014, réalisée dans plusieurs pays de l’Union européenne, les élèves interrogés devaient indiquer la fréquence à laquelle ils souffraient des huit problèmes de santé suivants : maux de tête ou de dos, douleurs abdominales, tristesse, irritabilité, nervosité, difficultés à s’endormir ou vertiges. Le résultat démontre que 41 % des élèves affirmaient avoir plusieurs fois par semaine voire quotidiennement au moins deux des huit problèmes précités. Les filles souffrent plus fréquemment de problèmes de santé que les garçons, ainsi que les élèves plus âgés comparativement aux plus jeunes. En outre, des enfants issus de familles avec un niveau socio-économique faible ont plus souvent des problèmes de santé que les enfants des familles ayant un niveau socio-économique élevé. Enfin, les élèves du secondaire technique et du modulaire souffrent plus fréquemment de problèmes de santé que les élèves de l’enseignement fondamental et du secondaire. [less ▲]

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See detailRussians in Luxembourg: Русские в Вильтце - история первых эмигрантов
Ganschow, Inna UL

E-print/Working paper (2018)

Люксембургская русская община ведет свой отсчет с 1927 года – десятой годовщины Февральской, а потом и Октябрьской, революции. Девяносто лет назад прибыли эмигранты, прошедшие Гражданскую войну и ... [more ▼]

Люксембургская русская община ведет свой отсчет с 1927 года – десятой годовщины Февральской, а потом и Октябрьской, революции. Девяносто лет назад прибыли эмигранты, прошедшие Гражданскую войну и Крымскую эвакуацию 1920-го, положившую конец сопротивлению Белого движения на Юге России. Приехали в Люксембург, думая, что ненадолго, а остались... навсегда. [less ▲]

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See detailRussians in Luxembourg, WWII: Поиски старого друга
Ganschow, Inna UL

E-print/Working paper (2018)

Спустя семьдесят лет после окончания Второй мировой войны бывший люксембургский военнопленный решил найти своего старого русского друга, которого пригнали на принудительные работы в сталелитейной ... [more ▼]

Спустя семьдесят лет после окончания Второй мировой войны бывший люксембургский военнопленный решил найти своего старого русского друга, которого пригнали на принудительные работы в сталелитейной промышленности и сельском хозяйстве Люксембурга наравне с другими 4.000 узниками. Судьбы двух пленных переплелись, как они переплетутся между советскими и люксембургскими поданными в Европе еще не раз ... [less ▲]

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See detailReliability and Relevance of Fair Values: Private Equity Investments and Investee Fundamentals
Kräussl, Roman UL; Ferreira, Petrus; R. Landsman, Wayne et al

E-print/Working paper (2018)

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See detailWhen Time Breaks: The Hiatus of Refugee Status
Van Der Walt, Johan Willem Gous UL

E-print/Working paper (2018)

“In the first place, we don’t like to be called ‘refugees.’ We ourselves call one another ‘newcomers’ or ‘immigrants.’” Already here, in the first sentence of Arendt’s essay “We Refugees,” does the hiatus ... [more ▼]

“In the first place, we don’t like to be called ‘refugees.’ We ourselves call one another ‘newcomers’ or ‘immigrants.’” Already here, in the first sentence of Arendt’s essay “We Refugees,” does the hiatus of refugee status become manifest. A divide already opens up between different habits of reference. Refugees refer to themselves in one way, non-refugees refer to them in another, and so does the projected or desired possibility of one world in which both refugees and non-refugees might find accommodation, split into two very different realities. Consciousness of the split is of course solely that of the refugees, at first. Initially, the hiatus is theirs only. Others – non-refugees – remain soundly oblivious to this fundamental split until such time as it brutally breaks into their world too, for instance, when the corpse of a four-year old child washes up on a beach, and washes up on every doorstep in a succession of media waves. And then the hiatus is suddenly everywhere and no one remains exempted. As the last sentence of Arendt’s essay contends forcefully, the split begins with the refugee status of some, but it ends with the bigger split of a world that begins to falter and fall apart: “The comity of European peoples went to pieces when, and because, it allowed its weakest member to be excluded and persecuted.” The comity of European peoples show all signs of going to pieces again today. When the comity of peoples goes to pieces, it is not only common space that cracks up, but also common time, the common time that warrants common space according to Kant’s Schematismuslehre. It is ultimately this breaking of time – the hiatus of time – that Arendt thematises elsewhere with reference to “the desolate aimless wanderings of Israeli tribes in the wilderness and the dangers which befell Aeneas before he reached the Italian shore.” “[T]his hiatus,” she continues, obviously creeps into all time speculations which deviate from the currently accepted notion of time as a continuous flow.” (Arendt On Revolution, 205). This text is also a supplementary discussion of my reviews of two recent monographs on Arendt. See: RECENT ARENDT SCHOLARSHIP: Review of The Wandering Thought of Hannah Arendt by Hans Jörg Sigwart, Palgrave MacMillan, 2016, ISBN: 978-1-137-48214-3, 147 pages (abbreviated as WT below), and Rightlessness in an Age of Rights. Hannah Arendt and the Contemporary Struggles of Migrants by Ayten Gündoğdu, New York: Oxford University Press: 2015, 298 pages, forthcoming in Constellations. [less ▲]

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See detailRisk and Refugee Migration
Joxhe, Majlinda UL; Bocqueho, Geraldine; Helstroffer, Jenny et al

E-print/Working paper (2018)

This paper uses the experimental setup of Tanaka et al. (2010) to measure refugees’ risk preferences. A sample of 206 asylum seekers was interviewed in 2017-18 in Luxembourg. Contrary to studies which ... [more ▼]

This paper uses the experimental setup of Tanaka et al. (2010) to measure refugees’ risk preferences. A sample of 206 asylum seekers was interviewed in 2017-18 in Luxembourg. Contrary to studies which focus on risk aversion in general, we analyze its components using a cumulative prospect theory (CPT) framework. We show that refugees exhibit particularly low levels of risk aversion compared to other populations and that CPT provides a better fit for modelling risk attitudes. Moreover, we include randomised temporary treatments provoking emotions and find a small significant impact on probability distortion. Robustness of the Tanaka et al. (2010) experimental framework is confirmed by including treatments regarding the embedding effect. Finally, we propose a theoretical model of refugee migration that integrates the insights from our experimental outcomes regarding the functional form of refugees’ decision under risk and the estimated parameter values. The model is then simulated using the data from our study. [less ▲]

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See detailThe Credit Structure Database
Leon, Florian UL

E-print/Working paper (2018)

We describe a new publicly available dataset on credit structure across the world over the period 1995-2014. The database contains two modules. The first part reports the structure of bank loan by types ... [more ▼]

We describe a new publicly available dataset on credit structure across the world over the period 1995-2014. The database contains two modules. The first part reports the structure of bank loan by types of borrowers (households vs. firms). Data are available for 143 countries. Household credit is breakdown between mortgage loans and other household loans (credit cards, car loans, student loans, etc.). Firm credit is decomposed into six sectors (agriculture, industry, construction, transport, trade and other services). The second module contains credit by maturity for 85 countries. Short-term credit is defined as loans with a maturity of one year or less and long-term credit as loans whose maturity exceeds one year. Database is freely available and downlable in Excel and Stata format at the following link: https://sites.google.com/site/florianleon/research/data [less ▲]

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See detailLong-term finance and entrepreneurship
Leon, Florian UL

E-print/Working paper (2018)

This paper investigates whether long-term finance affects the firm entry across the world. We construct a new database on short-term and long-term credit provided by commercial banks to the private sector ... [more ▼]

This paper investigates whether long-term finance affects the firm entry across the world. We construct a new database on short-term and long-term credit provided by commercial banks to the private sector in 85 countries over the period 1995-2014. We then analyze whether differences in entrepreneurship are correlated with the provision of short-term and long-term bank credit. Data on entrepreneurship are extracted from two frequently used databases: the Global Entrepreneurship Monitoring dataset and Entrepreneurship Database, each of which captures different aspects of firm creation. Econometric results indicate that long-term credit does not stimulate the firm entry. On the contrary, we find that short-term credit exerts a positive impact at each stage of firm creation from activity birth to registration. Our findings are robust to a battery of sensitivity tests, including additional control variables, alternative dependent variables, alternative sample, and changes in econometric specification. Our findings suggest that better provision of short-term credit allows entrepreneurs to apply for a formal loan instead of relying exclusively on informal loans or internal funds, contrary to long-term loans [less ▲]

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See detailDo banks and microfinance institutions compete? Microevidence from Madagascar
Leon, Florian UL; Baraton, Pierrick

E-print/Working paper (2018)

In recent years, both microfinance institutions (MFIs) and banks across the world have been converging towards the financing of small enterprises with high financing needs. This paper scrutinizes whether ... [more ▼]

In recent years, both microfinance institutions (MFIs) and banks across the world have been converging towards the financing of small enterprises with high financing needs. This paper scrutinizes whether banks and MFIs compete each other as a result of recent transformations in both industries. In doing so, we study whether the loan strategy of a microfinance institution is shaped by the local presence of a bank. Specifically, we investigate whether bank proximity influences loan conditions provided by one of the largest microfinance institutions in Madagascar. We employ an original panel dataset of 32,374 loans granted to 14,834 borrowers over the period 2008-2014. We find that the closer a bank is located to a given MFI borrower, the larger the loan obtained and the less collateral required. These results are insensitive to several robustness tests for possible endogeneity of distance, sample selection issue, and alternative specifications. In addition, findings are stronger for larger and more established (older) firms in line with our hypothesis. [less ▲]

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See detailBlockchain, Fractional Ownership, and the Future of Creative Work
Kräussl, Roman UL; Whitaker, Amy

E-print/Working paper (2018)

While record-making prices at art auctions receive headline news coverage, artists typically do not receive any direct proceeds from those sales. Early-stage creative work in any field is perennially ... [more ▼]

While record-making prices at art auctions receive headline news coverage, artists typically do not receive any direct proceeds from those sales. Early-stage creative work in any field is perennially difficult to value, but the valuation, reward, and incentivization for artistic labor are particularly fraught. A core challenge in studying the real return on artists’ work is the extreme difficulty accessing data from when an artwork was first sold. Galleries keep private records that are difficult to access and to match to public auction results. This paper, for the first time, uses archivally sourced primary market records, for the artists Jasper Johns and Robert Rauschenberg. Although this approach restricts the size of the data set, this innovative method shows much more accurate returns on art than typical regression and hedonic models. We find that if Johns and Rauschenberg had retained 10% equity in their work when it was first sold, the returns to them when the work was resold at auction would have outperformed the US S&P 500 by between 2 and 986 times. The implication of this work opens up vast policy recommendations with regard to secondary art market sales, entrepreneurial strategies using blockchain technology, and implications about how we compensate creative work. [less ▲]

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See detailKrichever-Novikov type algebras. Definitions and Results
Schlichenmaier, Martin UL

E-print/Working paper (2018)

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See detailFunctional inequalities for Feynman-Kac semigroups
Thompson, James UL

E-print/Working paper (2018)

Using stochastic analysis, we prove various gradient estimates and Harnack inequalities for Feynman-Kac semigroups with possibly unbounded potentials. One of the main results is a derivative formula which ... [more ▼]

Using stochastic analysis, we prove various gradient estimates and Harnack inequalities for Feynman-Kac semigroups with possibly unbounded potentials. One of the main results is a derivative formula which can be used to characterize a lower bound on Ricci curvature using a potential. [less ▲]

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See detailEffect of increasing the ramification on pseudo-deformation rings
Deo, Shaunak UL

E-print/Working paper (2018)

Detailed reference viewed: 20 (0 UL)
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See detailUnderstanding the Babylonian tablet ‘Plimpton 322’ with the decimal system
Perucca, Antonella UL; Stranen, Deborah

E-print/Working paper (2018)

Detailed reference viewed: 23 (0 UL)
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See detailProducts in the category of Z_2^n manifolds
Bruce, Andrew UL; Poncin, Norbert UL

E-print/Working paper (2018)

Detailed reference viewed: 43 (6 UL)
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See detailBig Moves of Mutual Funds
Lehnert, Thorsten UL

E-print/Working paper (2018)

Detailed reference viewed: 28 (1 UL)
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See detailFinancial ratios analysis in determination of bank performance in the German banking sector
Lardic, Sandrine; Terraza, Virginie UL

E-print/Working paper (2018)

Detailed reference viewed: 21 (2 UL)
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See detailA hyper-reduction method using adaptivity to cut the assembly costs of reduced order models
Hale, Jack UL; Schenone, Elisa; Baroli, Davide UL et al

E-print/Working paper (2018)

At every iteration or timestep of the online phase of some reduced-order modelling schemes, large linear systems must be assembled and then projected onto a reduced order basis of small dimension. The ... [more ▼]

At every iteration or timestep of the online phase of some reduced-order modelling schemes, large linear systems must be assembled and then projected onto a reduced order basis of small dimension. The projected small linear systems are cheap to solve, but assembly and projection are now the dominant computational cost. In this paper we introduce a new hyper-reduction strategy called reduced assembly (RA) that drastically cuts these costs. RA consists of a triangulation adaptation algorithm that uses a local error indicator to con- struct a reduced assembly triangulation specially suited to the reduced order basis. Crucially, this reduced assembly triangulation has fewer cells than the original one, resulting in lower assembly and projection costs. We demonstrate the efficacy of RA on a Galerkin-POD type reduced order model (RAPOD). We show performance increases of up to five times over the baseline Galerkin-POD method on a non-linear reaction-diffusion problem solved with a semi-implicit time-stepping scheme and up to seven times for a 3D hyperelasticity problem solved with a continuation Newton-Raphson algorithm. The examples are implemented in the DOLFIN finite element solver using PETSc and SLEPc for linear algebra. Full code and data files to produce the results in this paper are provided as supplementary material. [less ▲]

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See detailKummer theory for number fields
Perucca, Antonella UL; Sgobba, Pietro

E-print/Working paper (2018)

Detailed reference viewed: 31 (5 UL)
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See detailWHY IS THE MARKET SKEWNESS-RETURN RELATIONSHIP NEGATIVE?
Lehnert, Thorsten UL

E-print/Working paper (2018)

The observed negative relationship between market skewness and excess return or the negative price of market skewness risk in the cross-section of stock returns is somewhat counterintuitive when we ... [more ▼]

The observed negative relationship between market skewness and excess return or the negative price of market skewness risk in the cross-section of stock returns is somewhat counterintuitive when we consider the usual interpretation of e.g. option-implied skewness as an indicator of jump risk or downside risk. One possible explanation for this inconsistency is that there are factors affecting option-implied market skewness other than jump risk in the stock market. In this paper, I find that price pressure associated with “crowded trades” of mutual funds is an important endogenous factor. Given that retail investors are prone to herding, the directional trading of mutual funds is correlated, and their collective actions can generate short-term price pressure on aggregate stock prices. Short sellers systematically exploit these patterns not only in the equity lending market, but also in the options market. In line with this economic channel, I find that firstly, the significant negative relationship between market skewness and returns becomes insignificant, once I control for price pressure. Secondly, the negative relationship is only present for the “bad” downside component of risk-neutral skewness, associated with out-of-the-money put options. For the “good” upside component of risk-neutral skewness, associated with out-of-the-money call options, the relationship is always positive. Thirdly, price pressure affects the skewness-return relationship, which can be clearly distinguished from the impact of flows on the volatility-return relationship in terms of the leverage effect. [less ▲]

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See detailExecuting Trades in Style: Retail Investors vs. Institutions
Wolff, Christian UL; Ekkayokkaya, Manapol

E-print/Working paper (2018)

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See detailHarnack estimates for a heat-type equation under the geometric flow
Li, Yi UL; Zhu, Xiaorui

E-print/Working paper (2018)

Detailed reference viewed: 74 (5 UL)
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See detailFunctional analytic issues in Z_2 ^n Geometry
Bruce, Andrew UL; Poncin, Norbert UL

E-print/Working paper (2018)

Detailed reference viewed: 29 (3 UL)
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See detailDie allgemeine Lebenszufriedenheit von Schülern in Luxemburg
Kern, Matthias Robert UL; Residori, Caroline UL; Heinz, Andreas UL et al

E-print/Working paper (2017)

Detailed reference viewed: 56 (16 UL)
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See detailGesundheitsbeschwerden von Schülern in Luxemburg
Heinz, Andreas UL; Kern, Matthias Robert UL; Residori, Caroline UL et al

E-print/Working paper (2017)

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See detailÜbergewicht bei Schülern in Luxemburg
Residori, Caroline UL; Kern, Matthias Robert UL; Heinz, Andreas UL et al

E-print/Working paper (2017)

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See detailWho Trade at Better Prices?
Wolff, Christian UL; Ekkayokkaya, Manapol

E-print/Working paper (2017)

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See detailState of the Art in Lightweight Symmetric Cryptography
Biryukov, Alex UL; Perrin, Léo Paul UL

E-print/Working paper (2017)

Lightweight cryptography has been one of the ``hot topics'' in symmetric cryptography in the recent years. A huge number of lightweight algorithms have been published, standardized and/or used in ... [more ▼]

Lightweight cryptography has been one of the ``hot topics'' in symmetric cryptography in the recent years. A huge number of lightweight algorithms have been published, standardized and/or used in commercial products. In this paper, we discuss the different implementation constraints that a ``lightweight'' algorithm is usually designed to satisfy. We also present an extensive survey of all lightweight symmetric primitives we are aware of. It covers designs from the academic community, from government agencies and proprietary algorithms which were reverse-engineered or leaked. Relevant national (\nist{}...) and international (\textsc{iso/iec}...) standards are listed. We then discuss some trends we identified in the design of lightweight algorithms, namely the designers' preference for \arx{}-based and bitsliced-S-Box-based designs and simple key schedules. Finally, we argue that lightweight cryptography is too large a field and that it should be split into two related but distinct areas: \emph{ultra-lightweight} and \emph{IoT} cryptography. The former deals only with the smallest of devices for which a lower security level may be justified by the very harsh design constraints. The latter corresponds to low-power embedded processors for which the \aes{} and modern hash function are costly but which have to provide a high level security due to their greater connectivity. [less ▲]

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See detailWhat makes Data Science different? A discussion involving Statistics2.0 and Computational Sciences
Ley, Christophe; Bordas, Stéphane UL

E-print/Working paper (2017)

Data Science is today one of the main buzzwords be it in business, industrial or academic settings. Machine learning, experimental design, data-driven modelling are all, undoubtedly, rising disciplines if ... [more ▼]

Data Science is today one of the main buzzwords be it in business, industrial or academic settings. Machine learning, experimental design, data-driven modelling are all, undoubtedly, rising disciplines if one goes by the soaring number of research papers and patents appearing each year. The prospect of becoming a ``Data Scientist'' appeals to many. A discussion panel organised as part of the European Data Science Conference (European Association for Data Science (EuADS)) asked the question: ``What makes Data Science different?'' In this paper we give our own, personal and multi-facetted view on this question, from an engineering and a statistics perspective. In particular, we compare Data Science to Statistics and discuss the connection between Data Science and Computational Science. [less ▲]

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See detailMigration, Labor Tasks and Production Structure in Europe
Joxhe, Majlinda UL; Borelli, Stefania; Giuseppe, De Arcangelis

E-print/Working paper (2017)

This paper assesses the effect of the immigration on the production structure in a selection of European countries in 2001-2009 with a task-based approach. The inflow of immigrants represents an increase ... [more ▼]

This paper assesses the effect of the immigration on the production structure in a selection of European countries in 2001-2009 with a task-based approach. The inflow of immigrants represents an increase in the relative supply of manual-physical (or simple) tasks, hence favoring simple-task intensive sectors. We use a new OECD dataset, PIAAC, to calculate the index of simple-task intensity at the country-industry level. The analysis confirms that the increase in migration stocks caused a positive impact on the value added of sectors that use more intensively simple tasks. These effects are more intense when considering countries as Italy and Spain characterized by a recent, rapid and intense inflow of migrants. Endogeneity issues are discussed and instruments based on a gravity approach are used in estimation. [less ▲]

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See detailReal-time Error Control for Surgical Simulation
Bui, Huu Phuoc UL; Tomar, Satyendra UL; Bordas, Stéphane UL

E-print/Working paper (2017)

Real-time simulations are becoming increasingly common for various applications, from geometric design to medical simulation. Two of the main factors concurrently involved in defining the accuracy of ... [more ▼]

Real-time simulations are becoming increasingly common for various applications, from geometric design to medical simulation. Two of the main factors concurrently involved in defining the accuracy of surgical simulations are: the modeling error and the discretization error. Most work in the area has been looking at the above sources of error as a compounded, lumped, overall error. Little or no work has been done to discriminate between modeling error (e.g. needle-tissue interaction, choice of constitutive models) and discretization error (use of approximation methods like FEM). However, it is impossible to validate the complete surgical simulation approach and, more importantly, to understand the sources of error, without evaluating both the discretization error and the modeling error. Our objective is thus to devise a robust and fast approach to measure the discretization error via a posteriori error estimates, which are then used for local remeshing in surgical simulations. To ensure that the approach can be used in clinical practice, the method should be robust enough to deal, as realistically as possible, with the interaction of surgical tools with the organ, and fast enough for real-time simulations. The approach should also lead to an improved convergence so that an economical mesh is obtained at each time step. The final goal is to achieve optimal convergence and the most economical mesh, which will be studied in our future work. [less ▲]

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See detailWealth accumulation over the life course. The role of disadvantages across the employment history
Ponomarenko, Valentina UL

E-print/Working paper (2017)

In this study wealth is employed as an often neglected but highly stratified well-being measure in sociology. I relate the employment history and especially the accumulating disadvantages like ... [more ▼]

In this study wealth is employed as an often neglected but highly stratified well-being measure in sociology. I relate the employment history and especially the accumulating disadvantages like nonemployment and lower occupations to wealth in old age. In particular, I am interested in determining whether an adverse employment history prevents wealth accumulation and which factors influence wealth accumulation across the life course. I use comparative data from the Survey of Health, Ageing and Retirement and combine it with the retrospective panel SHARELIFE to retrieve information about the complete employment history. The relevance of wealth varies significantly across households and in the wider national context. Hence, a contextual perspective is included to account for the difference in wealth rates and wealth inequality in the European countries. The results show that cumulative nonemployment and employment in lower occupations has significant disadvantages for wealth accumulation in old age. However, large differences for men and women persist. Particularly, the household composition and household factors are decisive in the effectuality of these disadvantages. The relation of life course employment and especially disadvantages to accumulated wealth in old aged is stronger in conservative countries than in other welfare regimes. [less ▲]

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See detailQuantum moment maps and retracts for bounded symmetric domains
Korvers, Stéphane UL

E-print/Working paper (2017)

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See detailOn the Naturalness of Mutants
Jimenez, Matthieu UL; Cordy, Maxime UL; Kintis, Marinos UL et al

E-print/Working paper (2017)

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See detailGeneralized Ricci flow II: Existence for complete noncompact manifolds
Li, Yi UL

E-print/Working paper (2017)

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See detailHarnack estimates for nonlinear parabolic equations under the Ricci flow
Li, Yi UL; Zhu, Xiaorui

E-print/Working paper (2017)

In this paper, we consider first the Li-Yau Harnack estimates for a nonlinear parabolic equation $\partial_{t}u=\Delta_{t}u-qu -au(\ln u)^{\alpha}$ under the Ricci flow, where $\alpha>0$ is a constant. To ... [more ▼]

In this paper, we consider first the Li-Yau Harnack estimates for a nonlinear parabolic equation $\partial_{t}u=\Delta_{t}u-qu -au(\ln u)^{\alpha}$ under the Ricci flow, where $\alpha>0$ is a constant. To extend these estimates to a more general situation, in the second part, we consider the gradient estimates for a positive solution of the nonlinear parabolic equation $\partial _{t}u=\Delta _{t}u+hu^{p}$ on a Riemannian manifold whose metrics evolve under the geometric flow $\partial _{t}g(t)=-2S_{g(t)}$. To obtain these estimates, we introduce a quantity $\underline{\boldsymbol{S}}$ along the flow which measures whether the tensor $S_{ij}$ satisfies the second contracted Bianchi identity. Under conditions on ${\rm Ric}_{g(t)}, S_{g(t)}$, and $\underline{\boldsymbol{S}}$, we obtain the gradient estimates. [less ▲]

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See detailA Decoder for a Symbol-Constrained Code (preliminary version)
Franck, Christian UL

E-print/Working paper (2017)

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See detailPolynomial quadratic differentials on the complex plane and light-like polygons in the Einstein Universe
Tamburelli, Andrea UL

E-print/Working paper (2017)

We construct geometrically a homeomorphism between the moduli space of polynomial quadratic differentials on the complex plane and light-like polygons in the 2-dimensional Einstein Universe. As an ... [more ▼]

We construct geometrically a homeomorphism between the moduli space of polynomial quadratic differentials on the complex plane and light-like polygons in the 2-dimensional Einstein Universe. As an application, we find a class of minimal Lagrangian maps between ideal polygons in the hyperbolic plane. [less ▲]

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See detailLarge Portfolio Risk Management and Optimal Portfolio Allocation with Dynamic Elliptical Copulas
Jin, Xisong; Lehnert, Thorsten UL

E-print/Working paper (2017)

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See detailIs gender in the eye of the beholder? Identifying cultural attitudes with art auction prices
Kräussl, Roman UL; Adams, Renée; Navone, Marco et al

E-print/Working paper (2017)

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See detailThe Vanishing of Low-Dimensional Cohomology Groups of the Witt and the Virasoro algebra
Ecker, Jill Marie-Anne UL; Schlichenmaier, Martin UL

E-print/Working paper (2017)

A proof of the vanishing of the first and the third cohomology groups of the Witt algebra with values in the adjoint module is given. The proofs given in the present article are completely algebraic and ... [more ▼]

A proof of the vanishing of the first and the third cohomology groups of the Witt algebra with values in the adjoint module is given. The proofs given in the present article are completely algebraic and independent of any underlying topology. They are a generalization of the ones provided by Schlichenmaier, who proved the vanishing of the second cohomology group using purely algebraic methods. In the case of the third cohomology group though, extra difficulties arise and the involved proofs are distinctly more complicated. [less ▲]

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See detailThe Missing Risk Premium in Exchange Rates
Penasse, Julien UL; Magnus, Dahlquist

E-print/Working paper (2017)

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See detailOnline deliberation: state of the art
Kies, Raphaël UL

E-print/Working paper (2017)

In the last decade, the issue of online deliberation (or web-deliberation) has gained an important visibility among the scholars in the domain of political science, political philosophy, political ... [more ▼]

In the last decade, the issue of online deliberation (or web-deliberation) has gained an important visibility among the scholars in the domain of political science, political philosophy, political communication as well as software designers. It corresponds not only to a topic of analysis – that can be broadly defined as the quantitative and qualitative assessment of the political and public debates online - but also to a democratic model of e-democracy, that aims to shape the different political usage of the web according to the deliberative values. A pertinent way to analyze this broad phenomenon is to subdivide its analysis in three sections which content is partly based on updated findings of my book Promises and Limits of web-deliberation. The first section refers to the deliberative theory on which the empirical research is based. The second section deals with the complex issue of operationalizing the deliberative theory. The last section provides an overview of the online deliberative empirical studies that were conducted this last decade by distinguishing three broad research fields: i) The studies that aim at measuring the usage of the political web-debates and the characteristics of the users; ii) The studies that identify and compare the social and political actors that offer possibilities of online debates; iii) The studies assessing the quality of deliberation in different discursive online settings and the ones aiming at defining the factors that could explain variations in web-deliberation. [less ▲]

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See detailTo MigrateWith orWithout Ones’ Children in China - That is the Question
Chen, Yiwen UL; Fromentin, Vincent; Salagean, Ioana et al

E-print/Working paper (2017)

Where should Chinese internal migrant parents locate their school-aged children: migrate with them or leave them behind? And should they invest in private education of their children? Empirical evidence ... [more ▼]

Where should Chinese internal migrant parents locate their school-aged children: migrate with them or leave them behind? And should they invest in private education of their children? Empirical evidence based on the 2009 wave of the Rural-Urban Migration Survey in China (RUMiC) data is inconclusive. We use an overlapping generations model to find a theoretical optimum that maximizes parents’ utility which includes the children’s educational performance. Depending on the educational investment parents make and the relocation cost of children, we provide necessary and sufficient conditions for migrant parents to take their children to migrate and whether they should provide their children with private education. As the choices of migrant parents affect not only their children’s human capital accumulation, but also on the economic potential of their descendants, we present both short- and long-term consequences of the parents decision. [less ▲]

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See detailHomotopical algebraic context over differential operators
Di Brino, Gennaro; Pistalo, Damjan UL; Poncin, Norbert UL

E-print/Working paper (2017)

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See detailRäumliche Identifikationen und Identifizierungen in Grenzregionen. Das Beispiel der Großregion SaarLorLux
Wille, Christian UL

E-print/Working paper (2017)

In diesem Beitrag wird die Bedeutung von nationalen Grenzen für räumliche Identitäten in Grenzregionen analysiert. Dafür wird ein mehrdimensionales Analysemodell entwickelt und am Beispiel der Großregion ... [more ▼]

In diesem Beitrag wird die Bedeutung von nationalen Grenzen für räumliche Identitäten in Grenzregionen analysiert. Dafür wird ein mehrdimensionales Analysemodell entwickelt und am Beispiel der Großregion SaarLorLux gefragt, wie die Einwohner den Raum repräsentieren und wie sie ihre alltagskulturellen Praktiken räumlich organisieren. Außerdem werden räumliche Projektionen im politischen Diskurs aufgedeckt und rekonstruiert, inwiefern diese eine Grundlage bilden für Identifizierungsprozesse. Der Beitrag zeigt, dass nationale Grenzen in den Identifikations- und Identifizierungsvorgängen der Einwohner der Großregion SaarLorLux trotz grenzüberschreitender Verflechtungen eine wichtige Rolle spielen, aber nicht zwangsläufig als starre Ordnungskategorien. [less ▲]

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See detailStein's Overreaction Puzzle: A Note
Lin, Yuehao; Lehnert, Thorsten UL

E-print/Working paper (2017)

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See detailMultiplicative order and Frobenius symbol for the reductions of number fields
Perucca, Antonella UL

E-print/Working paper (2017)

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See detailThe multi-scale analysis of dynamic transmission volatility of carbon prices
Nsouadi, Ange; Terraza, Virginie UL

E-print/Working paper (2016)

The implementation of the EU ETS in 2005 led to the establishment of a price that enables manufacturers to realize the impact of their activities on the environment clean. There are no items in this day ... [more ▼]

The implementation of the EU ETS in 2005 led to the establishment of a price that enables manufacturers to realize the impact of their activities on the environment clean. There are no items in this day, since the creation of the European carbon market, which has focused on the analysis of volatility transmission between different investment horizons. The purpose of this paper is to fill this gap in the literature. we analyze the volatility of the price of carbon quota (EUA), by studying linear and nonlinear causal relationships of wavelet components between the different volatilities that we captured at different time scales. we initially conducted the decomposition of the EUA price volatility at different time-frequency interval using a wavelet approach. Our study will be to examine whether the volatility is transmitted from the high-frequency structure of the carbon price in the low frequency. Our results show an intra-structural dependance in carbon price volatility. We detect instability in the volatility of carbon and observe the existence of a bidirectional relationship from high frequency traders to low frequency traders. Our study showed that high-frequency shocks yields carbon price can have a significant impact beyond their Fontiers and touch the low frequency structure associated with long-term traders [less ▲]

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See detailInequality and Incentives: The Quasi-Natural Experiment of Hungary, 1914-2008
Mavridis, Dimitrios UL; Mosberger, Palma

E-print/Working paper (2016)

We construct the first top income share series of a formerly socialist economy before, during, and after socialism in order to exploit the effect of the quasi-natural experiment of the absence of markets ... [more ▼]

We construct the first top income share series of a formerly socialist economy before, during, and after socialism in order to exploit the effect of the quasi-natural experiment of the absence of markets on incentives. We investigate top income shares dynamics and the sources of income at the upper tail of the income distribution. Within this setup, we study the effect of capital markets and liberalized wage settings on top income shares. Our estimates show that the introduction of wage-setting decentralization during socialism had a role in increasing the skill premium and income inequality in years prior the transition. [less ▲]

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See detailNotes on a Lie algebraic relation
Korvers, Stéphane UL

E-print/Working paper (2016)

We exhibit explicit orthogonal decompositions of every multidimensional restricted root space of a real semi-simple Lie algebra. We then show a link between this result and a radiality property of smooth ... [more ▼]

We exhibit explicit orthogonal decompositions of every multidimensional restricted root space of a real semi-simple Lie algebra. We then show a link between this result and a radiality property of smooth functions on G-homogeneous spaces when G is a real semi-simple Lie group. [less ▲]

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See detailSocial rights and the new EU economic governance: seeking convergence
Muñoz, Susana UL

E-print/Working paper (2016)

This working paper aims to provide a critical assessment of the impact of the economic and financial crisis on the protection of fundamental social rights in the euro area. It is based on a comparative ... [more ▼]

This working paper aims to provide a critical assessment of the impact of the economic and financial crisis on the protection of fundamental social rights in the euro area. It is based on a comparative analysis of national and European case law in connection with the macroeconomic adjustment programmes in the euro area Member States receiving financial assistance. The austerity measures have been challenged before the relevant authorities at national and European level within the Council of Europe and the EU, with mixed results. It also examines new issues raised by the introduction of the European Stability Mechanism from the angle of fundamental rights. Finally, the initiative for a European Pillar of Social Rights is placed in the broader context of the multilevel protection of social rights in Europe. Converging approaches are needed. [less ▲]

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See detailMobbing am Arbeitsplatz in Luxemburg
Sischka, Philipp UL; Steffgen, Georges UL

E-print/Working paper (2016)

Die ausgeprägte Mobbingprävalenz in Luxemburg hat sich von 2013 zu 2014 insgesamt leicht erhöht. 2015 ist wiederum ein geringfügiger Rückgang zu verzeichnen. Am stärksten von Mobbing betroffen sind ... [more ▼]

Die ausgeprägte Mobbingprävalenz in Luxemburg hat sich von 2013 zu 2014 insgesamt leicht erhöht. 2015 ist wiederum ein geringfügiger Rückgang zu verzeichnen. Am stärksten von Mobbing betroffen sind Arbeitnehmer in der Altersklasse der 16-24 Jährigen. Arbeitnehmer ab 55 Jahre weisen dagegen die geringste Mobbingprävalenz auf. Differenziert nach Geschlecht, Vollzeit/Teilzeit- und Vorgesetztenstatus ergeben sich über die drei Jahre jeweils nur geringfügige Unterschiede zwischen den Gruppen. Insbesondere Mitarbeiter die schon sehr lange (über 20 Jahre) in dem Betrieb arbeiten, sind seltener von Mobbing betroffen. Kleinere Betriebe (1-4 Mitarbeiter) weisen eine relativ geringe Mobbingprävalenz auf. Dagegen ist die Mobbingprävalenz in Betrieben, die Arbeitsstellen abbauen vergleichsweise hoch. Hilfsarbeitskräfte und Manager weisen eine eher geringe, hingegen Arbeitnehmer in Handwerksberufen die höchste Mobbingprävalenz auf. Betriebe, die häufig Aktionen zur Aufklärung von Gesundheitsproblemen durchführen, weisen geringere Mobbingprävalenzen auf, als Betriebe, die dies nie oder nur unregelmäßig tun. Differenziert nach Nationalität zeigt sich über die drei Erhebungsjahre eine etwas höhere Mobbingprävalenz bei Arbeitnehmern mit luxemburgischer und französischer Nationalität. Arbeitnehmer mit deutscher Nationalität weisen dagegen konstant eine geringere Mobbingprävalenz auf. Die Mobbingprävalenz von Arbeitnehmern mit portugiesischer Nationalität steigt von 2013 zu 2014 an, verringert sich 2015 jedoch wieder etwas. [less ▲]

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See detailRemarks on contact and Jacobi geometry
Bruce, Andrew UL; Grabowska, Katarzyna; Grabowski, Janusz

E-print/Working paper (2016)

We present an approach to Jacobi and contact geometry that makes many facts, presented in the literature in an overcomplicated way, much more natural and clear. The key concepts are Kirillov manifolds and ... [more ▼]

We present an approach to Jacobi and contact geometry that makes many facts, presented in the literature in an overcomplicated way, much more natural and clear. The key concepts are Kirillov manifolds and Kirillov algebroids, i.e. homogeneous Poisson manifolds and, respectively, homogeneous linear Poisson manifolds. The difference with the existing literature is that the homogeneity of the Poisson structure is related to a principal GL(1, R)-bundle structure on the manifold and not just to a vector field. This allows for working with Jacobi bundle structures on nontrivial line bundles and drastically simplifies the picture of Jacobi and contact geometry. In this sense, the properly understood concept of a Jacobi structure is a specialisation rather than a generalisation of a Poission structure. Our results easily reduce to various basic theorems of Jacobi and contact geometry when the principal bundle structure is trivial, as well as give new insight in the theory. For instance, we describe the structure of Lie groupoids with a compatible principal G-bundle structure and the ‘integrating objects’ for Kirillov algebroids, define canonical contact groupoids, and show that any contact groupoid has a canonical realisation as a contact subgroupoid of the latter. [less ▲]

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See detailOn different approaches to compute the Chern classes of a tensor product of two vector bundles
Iena, Oleksandr UL

E-print/Working paper (2016)

We compare four different approaches to compute the Chern classes of a tensor product of two vector bundles in terms of the Chern classes of the factors.

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See detailpopulation Aging and Inventive Activity
Irmen, Andreas UL; Litina, Anastasia UL

E-print/Working paper (2016)

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

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

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See detailEndogenous Factor Income Distribution - When Piketty meets Romer -
Irmen, Andreas UL; Tabakovic, Amer UL

E-print/Working paper (2016)

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

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

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