A general approach to small deviation via concentration of measures

E-print/Working paper (2014)

Construction of sheaves on the subanalytic site

E-print/Working paper (2013)

Regards sur la sécurité et les délits au Luxembourg

E-print/Working paper (2013)

Cette publication présente les principaux résultats de l’enquête sur la sécurité réalisée courant 2013 au Luxembourg. L’exploitation des résultats est réalisée conjointement par le STATEC et l’Université ... [more ▼]

Cette publication présente les principaux résultats de l’enquête sur la sécurité réalisée courant 2013 au Luxembourg. L’exploitation des résultats est réalisée conjointement par le STATEC et l’Université du Luxembourg/INSIDE (Integrative Research Unit on Social and Individual Development). L’enquête couvre différents types de « délits ». Les délits pris en compte sont les délits dont les résidents de 16 ans ou plus ont été victimes entre 2008 et 2013, mais pouvant avoir eu lieu dans un autre pays. De plus, ces délits reprennent les faits déclarés à la police, mais également tous les délits qui n’ont pas fait l’objet d’une plainte. Les données récoltées permettent ainsi d’apporter un nouveau regard sur les données de la criminalité au Luxembourg. [less ▲]

Microbiome and type 1 diabetes

E-print/Working paper (2013)

The human microbiome (the collective of microorganisms, which inhabit the human body) and changes therein (often referred to as microbial dysbiosis) is emerging as a potential player in the development of ... [more ▼]

The human microbiome (the collective of microorganisms, which inhabit the human body) and changes therein (often referred to as microbial dysbiosis) is emerging as a potential player in the development of type 1 diabetes mellitus. This section discusses the human microbiome and its potential involvement in type 1 diabetes through its central roles in energy metabolism and modulation of the immune system. [less ▲]

News Flow, Web Attention and Extreme Returns in the European Financial Crisis

E-print/Working paper (2013)

We examine the existence of stock market contagion effects among three groups of countries: the Euro-periphery countries (Portugal, Ireland, Italy, Greece, Spain), the Euro-core countries (Germany, France ... [more ▼]

We examine the existence of stock market contagion effects among three groups of countries: the Euro-periphery countries (Portugal, Ireland, Italy, Greece, Spain), the Euro-core countries (Germany, France, the Netherlands, Finland, Belgium), and the major European Union -but not euro- countries (Sweden, UK, Poland, Czech Republic, Denmark). Using daily stock market data from January 2004 till March 2013, contagion effects for the tails of the marginal distributions are present for the Pre-crisis and the Euro-crisis periods within the Euro-periphery countries and from the Euro-periphery group to the Non-Euro and the Euro-core groups. We do not find a significant change in the contagion transmission mechanism when comparing the two periods, but for the Euro-crisis periods the extreme returns have a higher magnitude. Finally, we propose a connection between extreme stock market returns, the Web Attention index and two News Flow factors. The Euro-periphery Web Attention and News Flow variables significantly affect the probabilities of extreme bottom returns for the Euro-periphery, the Non-euro and the Euro-core groups. The effect is asymmetric in most of the cases since the Euro-periphery Web Attention and News Flow factors do not affect the probabilities of extreme top returns, with a few exceptions. More Web Attention and more bad news for the Euro-periphery in times of crisis are associated with higher probabilities of extreme bottom returns within and across groups. Granger-causality tests show that the News Pessimism and the News Relevance factors exhibit a two-way causality with the stock market movements while the Web Search Volume Index (SVI) one-way Granger-causes stock markets and extreme bottom returns in the three country groups. [less ▲]

Enfants, jeunes et jeunes adultes - Kinder, Jugendliche und junge Erwachsene in Luxemburg

E-print/Working paper (2013)

De 2001 à 2011, le nombre d’enfants et de jeunes âgés de moins de 20 ans est passé de 107 930 à 119 173, soit une augmentation de 10.4%. Comme la population totale s’est accrue plus fortement (+16.6 ... [more ▼]

De 2001 à 2011, le nombre d’enfants et de jeunes âgés de moins de 20 ans est passé de 107 930 à 119 173, soit une augmentation de 10.4%. Comme la population totale s’est accrue plus fortement (+16.6% entre 2001 et 2011), la part des moins de 20 ans dans la population a diminué légèrement, de 24.6% en 2001 à 23.3% en 2011. Chez les Italiens résidant au Luxembourg, le pourcentage correspondant est particulièrement faible : 13.4% des Italiens ont moins de 20 ans. En revanche, 43.2% des Monténégrins résidant au Luxembourg ont moins de 20 ans. 99.2 % des enfants et des jeunes de moins de 20 ans vivent dans des ménages privés (par opposition à des ménages collectifs, comme les foyers). Sur ces jeunes vivant dans des mé-nages privés, 82.6% habitent avec leurs deux parents ou avec un de leurs parents qui vit lui-même avec un partenaire. 15.9% des jeunes de moins de 20 ans habitent avec un parent isolé. À l’âge de 25 ans, 55.8% des jeunes ne vivent plus avec leurs parents. Chez les étrangers, à 25 ans, la part de ceux qui n’habitent plus avec leurs parents est plus élevée que cette moyenne (74.8%), alors que, pour les Luxembourgeois, la part est plus faible (39.6%). Dans la classe d’âge de 25-29 ans, 75% des Luxembourgeois sont encore célibataires. Ce pourcentage vaut également pour les Français, les Italiens, les Belges, les Allemands, les Britanniques, les Néerlandais et les Espagnols. En revanche, seulement 53.1% des Portugais et 17.1% des Monténégrins sont encore célibataires dans la classe d’âge des 25-29 ans. En termes absolus, la majorité des enfants et des jeunes habite dans la capitale ou dans le Sud-Ouest du pays. En termes relatifs, la part des enfants et des jeunes dans la population est cepen-dant plus élevée dans le Nord et dans le Nord-Est du pays. [less ▲]

Who benefits from partial tax coordination?

E-print/Working paper (2013)

In this paper, we investigate whether partial tax coordination is beneficial to <br />countries within and outside a tax union, in which countries are supposed to compete <br />in taxes and infrastructure ... [more ▼]

In this paper, we investigate whether partial tax coordination is beneficial to <br />countries within and outside a tax union, in which countries are supposed to compete <br />in taxes and infrastructure. Our results demonstrate that, a subgroup of countries <br />agreeing on a common tax rate, can harm both member and nonmember <br />states. This is in contrast to the classical findings that partial tax harmonization <br />is Pareto improving. When a minimum tax rate is imposed within a tax union, we <br />demonstrate that it does not necessarily improve the welfare of the member countries. <br />Moreover, both the high tax and low tax countries can be worse off. This <br />conclusion is at odds with the classical result that a high tax country benefits from <br />the imposition of a lower tax bound. [less ▲]

Les communes de la région sud - Die Gemeinden der Région sud

E-print/Working paper (2013)

À la date du recensement au 1er février 2011, 148 812 personnes vivaient dans la région sud du pays, soit une augmentation de 12.3% par rapport au recensement de 2001. Cette augmentation de la population ... [more ▼]

À la date du recensement au 1er février 2011, 148 812 personnes vivaient dans la région sud du pays, soit une augmentation de 12.3% par rapport au recensement de 2001. Cette augmentation de la population est inférieure à la moyenne nationale (+16.6%). La structure par âge de la population de la région sud est assez proche de celle du pays dans son ensemble. On note néanmoins des différences significatives entre Luxembourgeois et étrangers. Les Luxembourgeois sont surreprésentés dans les cohortes âgées et parmi les jeunes adultes. En re-vanche, les étrangers sont surreprésentés parmi les enfants et, surtout, dans les cohortes d’âge moyen de 25 à 50 ans. 58.9% des habitants de la région sud sont luxembourgeois et 23.1% sont portugais. Le pourcentage des personnes de toutes les autres nationalités présentes atteint 18% de la population. Avec 41.1%, la part globale des étrangers dans la population de la région sud est un peu inférieure à la moyenne nationale (43.0% d’étrangers). La part des propriétaires de logement est de 76% dans la région sud, soit un pourcentage légèrement supé-rieur à la moyenne nationale (73.0%). En revanche, la surface moyenne de logement est plus réduite dans la région sud que dans le pays dans son en-semble (117 m², contre 130 m²). Le loyer moyen est de 727 € dans la région sud, alors qu’il est de 888 € dans le pays. En revanche, comme les surfaces louées sont plus réduites qu’en moyenne nationale, le loyer par mètre carré ne se situe pas très loin de la moyenne du Grand-Duché (11.86 €/m² dans la région sud, contre 12.45 €/m² dans le pays dans son ensemble). Quant aux types de ménages, les diffé-rences entre la région sud et le pays dans son en-semble sont peu significatives. En revanche, on constate des écarts importants quant au niveau d’éducation. 45.5% de la population de la région sud ont un niveau d’éducation faible (primaire, se-condaire inférieur). Le pourcentage correspondant n’est que de 34.5% en moyenne dans le pays. À l’inverse, la part des habitants de la région sud ayant un niveau d’éducation élevé (enseignement supérieur) est, avec 15.1%, largement inférieure à la moyenne nationale (27.1%). [less ▲]

Les communes de la Nordstad - Die Gemeinden der Nordstad

E-print/Working paper (2013)

22 349 personnes habitaient dans les communes de la Nordstad au moment du recensement (1er février 2011), soit 7.2% de plus qu’en 2001. Dans les quatre communes les moins peuplées et périphériques aux ... [more ▼]

22 349 personnes habitaient dans les communes de la Nordstad au moment du recensement (1er février 2011), soit 7.2% de plus qu’en 2001. Dans les quatre communes les moins peuplées et périphériques aux communes de Diekirch et Ettelbrück, la croissance démographique dépasse la moyenne de la Nordstad, alors que l’augmentation du nombre d’habitants à Ettelbrück (+6.6%) et à Diekirch (+4.1%) est plus faible que la moyenne. Globalement, l’augmentation de la population de la Nordstad (+7.2%) se situe en deçà de celle du pays dans son ensemble (+16.6%). La structure par âge de la population de la Nordstad correspond globalement à celle du Grand-Duché. Cependant, la présence de la caserne militaire à Diekirch fait que les hommes jeunes sont surreprésentés. Comparés aux étrangers, les Luxembourgeois sont surreprésentés dans les cohortes âgées, alors que les étrangers sont surreprésentés dans les cohortes d’âge moyen. 60.9% des habitants de la Nordstad sont des Luxembourgeois et 24.1% des Portugais. Toutes les autres nationalités représentent 15.0% des habitants. En ce qui concerne le logement (taux de propriétaires, surface moyenne de logement, taille des ménages), les situations dans la Nordstad et au Grand-Duché dans son ensemble sont comparables. En revanche, avec 737 € en moyenne, les loyers se situent largement en-dessous de la moyenne nationale (888 €). Quant au niveau d’éducation, on constate des différences significatives entre la Nordstad et le pays dans son ensemble. Si au Grand-Duché moins d’un tiers des habitants a un niveau d’éducation faible (34.5%), le pourcentage correspondant atteint 42.1% dans la Nordstad. À l’inverse, la part des habitants ayant atteint un niveau d’éducation élevé n’est que de 18.8% dans la Nordstad, contre 27.1% dans la population totale. [less ▲]

LEARN stellt sech fier

E-print/Working paper (2013)

Les quartiers de la Ville de Luxembourg - Luxemburg-Stadt: Die Stadtteile

E-print/Working paper (2013)

Les habitants de la capitale (95 058 au 1er février 2011) se répartissent sur 24 quartiers. Le quartier de Bonnevoie-Sud est le plus peuplé (11 279 habitants), alors que Pulvermühle ne compte que 333 ... [more ▼]

Les habitants de la capitale (95 058 au 1er février 2011) se répartissent sur 24 quartiers. Le quartier de Bonnevoie-Sud est le plus peuplé (11 279 habitants), alors que Pulvermühle ne compte que 333 habitants. Entre 2001 et 2011, c’est le quartier du Cents qui a connu la croissance démographique la plus importante (+72.2%), tandis que les quartiers de Pfaffenthal (-8.7%) et de Clausen (-10.8%) ont perdu des habitants. Dans l’ensemble des quartiers de la capitale, la part des étrangers a augmenté. C’est dans le quartier de la Gare que la part des étrangers est la plus élevée (81.6% en 2011). Au Cents elle est la plus faible avec 42.4%. Dans le quartier de la Gare, la surface moyenne des logements est la plus restreinte (69.5 m²), alors qu’elle atteint plus du double à Cessange (130.0 m²). Les habitants du Grund et du quartier de la Gare vivent très majoritairement en location (respectivement 71.5% et 74.7% de la population). En revanche, au Cents, la part des locataires n’est que de 19.4%. En termes absolus, les loyers sont les plus élevés au Cents (1 285€ en moyenne par logement sans charges) et les moins élevés à Pfaffenthal (756€). Cependant, l’augmentation du prix des loyers de 2001 à 2011 est particulièrement importante au Pfaffenthal (+94.9%), alors qu’au Cents le loyer moyen n’a augmenté que de 28.7%. La surface des logements loués varie fortement entre les quartiers. Rapportés à la surface, les loyers sont les plus élevés dans le quartier de la Gare (17.08€ par m²), à Clausen (16.33€ par m²) et dans le quartier de Neudorf (16.27€ par m²). Ils sont les plus faibles à Pfaffenthal (11.41€ par m²) et à Hamm (11.79€ par m2). Dans la « Ville Haute Centre » et dans le quartier de la Gare, la part des personnes vivant seules est la plus élevée (43%). À Hamm, la part des couples avec enfant(s) parmi les ménages est la plus élevée (51.9%). En ce qui concerne le niveau d’éducation, c’est au Pfaffenthal que la part des personnes ayant un niveau d’éducation faible est la plus importante (53.0%), alors qu’au Limpertsberg le taux correspondant n’est que de 11.7%. Par contre, 67.5% des habitants du Limpertsberg ont atteint un niveau d’éducation élevé. [less ▲]

Do Fund Investors Know that Risk is Sometimes not Priced?

E-print/Working paper (2013)

Previous research suggests that investor sentiment has an influence on the market's risk-return trade-off. Noise tradersídemand for assets is considered to be risk independent and, as a result, risky ... [more ▼]

Previous research suggests that investor sentiment has an influence on the market's risk-return trade-off. Noise tradersídemand for assets is considered to be risk independent and, as a result, risky assets do not offer a risk premium when demand is high. We show that market risk is only a priced factor of expected fund returns when investor sentiment is low. Furthermore, fund investors seem aware that risk is sometimes not priced. During high sentiment periods, "smart" investors buy safe funds that subsequently outperform and sell risky funds that subsequently underperform. Our results are statistically and economically significant. [less ▲]

Patent office governance and patent examination quality

E-print/Working paper (2013)

The present paper discusses the role of quality in patent examination process from the perspective of patent offices' behavior and organization. After documenting original stylized facts, the paper ... [more ▼]

The present paper discusses the role of quality in patent examination process from the perspective of patent offices' behavior and organization. After documenting original stylized facts, the paper presents a model in which patent offices set patent fees and the quality level of their examination process. A higher effort in the examination process enhances the patent holders' protection in the judicial system and strengthens the screening of innovations with small inventive steps. We compare the quality of the examination process for various objectives of patent offices. Patent examination quality is the highest in an office maximizing incentives to innovate and the lowest in that maximizing the number of granted patents. A rent-seeking patent office can provide good incentives to innovate if it does not set too high markups on fees. [less ▲]

Les Français au Luxembourg - Franzosen in Luxemburg

E-print/Working paper (2013)

At the time of the census, 31,456 French lived in Luxembourg, or 6.1% of the total population. In absolute terms and as a percentage of the total population, these values ​​are the highest since the ... [more ▼]

At the time of the census, 31,456 French lived in Luxembourg, or 6.1% of the total population. In absolute terms and as a percentage of the total population, these values ​​are the highest since the census of 1875. The average age of the French living in Luxembourg is, with 34.7 years, lower than that of the total population (38.7 years). Since the 2001 census, the number of French living in Luxembourg increased by 57.4%. This growth exceeds even that of the total of foreigners which has increased by 35.9% since 2001. 72% of French residents in 2011 arrived between 1995 and 2011, while the corresponding figure for this time period is only 56% for all immigrants. 73.4% of the French living in the country were born in France and 16.4% were born in the Grand Duchy. The French are the most numerous in Luxembourg City (13 450 people). Their relative share is also the highest in the capital, with 14.1% of the population of the City of Luxembourg. Overall, the education level of french people living in Luxembourg is higher than that of the total population. [less ▲]

Niveau d’éducation de la population du Grand-Duché de Luxembourg

E-print/Working paper (2013)

Un peu plus d’un quart (27%) de la population âgée d’au moins 15 ans ne poursuivant plus d’études possèdent un diplôme de l’enseignement supérieur. Ce pourcentage est un peu plus élevé chez les hommes que ... [more ▼]

Un peu plus d’un quart (27%) de la population âgée d’au moins 15 ans ne poursuivant plus d’études possèdent un diplôme de l’enseignement supérieur. Ce pourcentage est un peu plus élevé chez les hommes que chez les femmes (29.7% contre 24.5%). En revanche, un cinquième de la population (19.9%) n’a pas dépassé le niveau d’enseignement primaire. La part des personnes ayant atteint le niveau du secondaire inférieur est de 14.6% et 35.5% de la population ont atteint un niveau d’éducation du secondaire supérieur. Depuis 2001, une augmentation du niveau d’éducation est observée. La part des diplômés de l’enseignement supérieur passe de 19.6% en 2001 à 27.0% en 2011. Les générations les plus âgées ont un niveau d’éducation moins élevé que les générations plus jeunes : 53.5% des 85 ans et plus ont, au maximum, atteint le niveau d’enseignement primaire, contre seulement 9.4% des 20 à 39 ans. Les personnes de nationalité étrangère sont surreprésentées pour deux niveaux d’éducation : le primaire et le supérieur. 24.4% des étrangers n’ont atteint que le niveau d’éducation primaire, contre 16.8% des Luxembourgeois. En revanche 31.8% des étrangers ont atteint un niveau d’éducation supérieur, contre seulement 23.7% des Luxembourgeois. Le type de diplôme obtenu à une grande influence sur la profession exercée. 88.6% des personnes qui travaillent dans les professions intellectuelles et scientifiques ont un diplôme de l’enseignement supérieur, alors qu’ils ne représentent que 1.8% des personnes exerçant une profession élémentaire. À noter également que 57.4% des personnes nées au Grand-Duché et ayant obtenu un diplôme supérieur ont acquis leur diplôme à l’étranger. Si l’on ne prend en compte que les personnes ayant obtenu un master ou un doctorat, ce pourcentage atteint les 90.7%. [less ▲]

Derived category of filtered objects

E-print/Working paper (2013)

Räume der Grenze – eine praxistheoretische Perspektive in den kulturwissenschaftlichen Border Studies

E-print/Working paper (2013)

In diesem Beitrag wird untersucht, wie praxistheoretische mit raumtheoretischen Überlegungen verknüpft und in eine Heuristik der kulturwissenschaftlichen Raumanalyse überführt werden können. Diese ... [more ▼]

In diesem Beitrag wird untersucht, wie praxistheoretische mit raumtheoretischen Überlegungen verknüpft und in eine Heuristik der kulturwissenschaftlichen Raumanalyse überführt werden können. Diese Fragestellung resultiert aus der Einsicht, dass Raum als ein emergenter Aspekt des Sozialen zu betrachten ist und dass er in den Border Studies noch weitgehend unterbestimmt ist. Unter Rückgriff auf verschiedene Raumkonzepte wird zunächst ein handlungstheoretisches Verständnis von Raum vorgestellt und praxistheoretisch reformuliert. Es bildet den Ausgangspunkt zur Entwicklung des Modells Räume der Grenze mit seinen Analysekategorien soziale Praktiken, praktisches Wissen sowie physisch-materiale und sozial-strukturelle Aspekte. Von besonderem heuristischen Nutzen erweisen sich die vielfältigen Verbindungen zwischen diesen Analysekategorien. [less ▲]

Les Italiens au Luxembourg - Italiener in Luxemburg

E-print/Working paper (2013)

On February 1st 2011 (Census Day), 18,059 Italians lived in Luxembourg and made up 3.5% of the total population. Their number has decreased since 1970. In that year 23,490 Italians (6.9% of the total ... [more ▼]

On February 1st 2011 (Census Day), 18,059 Italians lived in Luxembourg and made up 3.5% of the total population. Their number has decreased since 1970. In that year 23,490 Italians (6.9% of the total population) are still counted. In 1960, Italians accounted for 37.8% of all foreigners living in Luxembourg. In 2011, the Italians account only for 8.2% of the foreign citizens living in Luxembourg. In comparison with the general population, the Italians are much older on average (45.2 years for Italians, against 38.7 years on average for the total population). The majority of Italians living in Luxembourg was born in Italy (62.7%). 28.3% were born in Luxembourg. In absolute terms, most Italians live in the City of Luxembourg (5 750, nearly 30% of all Italians living in the Grand Duchy). However, their relative proportion in the population is the largest in Bertrange (7.0% of the population of the municipality, against 3.5% at the national level). Overall, the Italians have a lower level of formal education than the total population on average. However, young Italians have more often higher levels of education than people of the same age in the total population. [less ▲]

1.8% de la population vit dans un ménage collectif

E-print/Working paper (2013)

On 1st February 2011, 1.8% of the population of the Grand Duchy were in an institutional household (9073 persons). Among those persons, we find mainly people living in old people’s home (56.1% of ... [more ▼]

On 1st February 2011, 1.8% of the population of the Grand Duchy were in an institutional household (9073 persons). Among those persons, we find mainly people living in old people’s home (56.1% of collective households), then people living in home for adults (10.4%), children living in home for child (5.8%), military living in barracks (5.5%) and those in prison (5.0%). If everyone may need at a time in his life to stay in a collective household, two age’s categories are particularly relevant: the elderly and young adults. [less ▲]

Macroeconomic determinants of European stock and government bond correlations: A tale of two regions

E-print/Working paper (2013)

This paper studies the dynamic correlation between stocks, between government bonds and between stocks and bonds within the Euro-zone in the last decade. In order to better understand the development of ... [more ▼]

This paper studies the dynamic correlation between stocks, between government bonds and between stocks and bonds within the Euro-zone in the last decade. In order to better understand the development of the financial market we argue that it is necessary to analyse all such relations simultaneously rather than focus at one. We firstly calculate the dynamic correlation for the previous asset classes. Results presented at the asset-region level, i.e. north-stock, north-bonds, south-stocks and south-bonds, visualise the divergence in integration in Europe and highlight the he- terogeneity in these markets. Secondly, we study the macroeconomic factors that determine these correlations. We find that, when we allow for regional division, not only cross-asset correlations within regions behave differently from each other, but also cross-assets cross-regions dynamic correlations can be explained with ma- croeconomic factors such as the relative market uncertainty between countries and balance of payments dynamics. [less ▲]

Les langues parlées au travail, à l’école et/ou à la maison

E-print/Working paper (2013)

70.5% of the population uses Luxembourgish at work, school and/or at home, 55.7% French and 30.6% German. On average 2.2 languages ​​are used. Adolescents and young adults exceed this average, while ... [more ▼]

70.5% of the population uses Luxembourgish at work, school and/or at home, 55.7% French and 30.6% German. On average 2.2 languages ​​are used. Adolescents and young adults exceed this average, while children and the elderly are below. About half of the Germans, Dutch and Montenegrins living in Luxembourg use Luxembourgish and occupy the first three places among the foreign nationalities speaking Luxembourgish. The use of Luxembourgish by immigrants increases with the duration of their stay. In rural regions, especially in the north of the country, where the rate of foreigners is relatively low, the percentage of the resident population using Luxembourgish generally exceeds 80% (Consthum 94.8%). In Luxembourg City the rate is only 48.8%. [less ▲]

Dynamic Dependence in Corporate Credit

E-print/Working paper (2013)

Location : Surfaces et loyers - Mietwohnungen: Kaltmieten - Wohnungsgrößen - Vorzugsmieten

E-print/Working paper (2013)

In Luxembourg, 28.3% of households are renters, which corresponds to 24.7% of the population. 91.9% of renter households pay a normal rent and 8.1% a reduced rent. On average, a reduced rent is € 396.7 ... [more ▼]

In Luxembourg, 28.3% of households are renters, which corresponds to 24.7% of the population. 91.9% of renter households pay a normal rent and 8.1% a reduced rent. On average, a reduced rent is € 396.7, while a normal rent reaches € 887.8 for similar surfaces (respectively 84.1 m² and 83.5 m²). In absolute terms, the rents are higher in municipalities located in the outskirts of the capital. With the distance from Luxembourg City, rents decrease. However, the housing surfaces in densely populated areas such as the City of Luxembourg, are generally smaller, so that the rent per square meter is the highest in the capital: 14.7 € per m² in the City of Luxembourg, against 12.5 € per m² on national average. Significant differences also exist in rent according to the nationality of the tenant. Britons pay on average the highest rents, but together with the Dutch, they also have larger surfaces. Montenegrins rent the smallest surface area per capita (27.5 m²). The level of rents depends on the time of moving in the dwelling. The average rent for a dwelling in which a household moved from 2001 to 2011 is € 13 per m², against € 7 per m² for a dwelling in which a household moved before 1980. [less ▲]

La situation du logement : immeubles d’habitation, ménages, propriétaires et locataires - Die Wohnsituation: Bewohnte Gebäude - Privathaushalte - Wohneigentum

E-print/Working paper (2013)

In Luxembourg, there were 130,091 residential buildings at the time of the census. Single family homes are the prevalent type of buildings. They represent 83.5% of all residential buildings. Of the single ... [more ▼]

In Luxembourg, there were 130,091 residential buildings at the time of the census. Single family homes are the prevalent type of buildings. They represent 83.5% of all residential buildings. Of the single family homes, detached houses are predominant (37.9% of all residential buildings), followed by single family semi-detached houses (25.0%) and single-family homes in a row (20.6%). Apartment buildings represent only 12.5% of total residential buildings. However, the share of the population living in single family homes is only 62.6%, while 32.7% of the population is living in apartment buildings. In the 208,565 private households, there are 503,280 people, that is to say, on average, 2.41 persons per household. One third of households (33.3%) are single households. 27.4% of residents live in two-person households and 15.9% in households of three people. The real estate market is moving. 9.4% of people surveyed in Luxembourg live less than one year in their home. 34.1% live in their homes for less than 5 years. More than two thirds of households (69.0%) are homeowners, 28.3% of households live in rental and 2.7% live in homes without paying rent. The percentage varies widely by nationality, but also by municipalities. 84.5% of Luxembourgers are homeowners. The percentage of owners is generally higher in municipalities located at a certain distance from the center. In Luxembourg-City, only 47.9% are homeowners. [less ▲]

L’Union européenne en crise face au dogme de l’efficience des marchés financiers

E-print/Working paper (2013)

Villes du Moyen Âge tardif (1180-1500) dans la Grande Région SaarLorLux

E-print/Working paper (2013)

Due to different natural, political and economic conditions, there are clear differences in the territorial distribution and temporal development of late medieval towns in the Greater Region. The map ... [more ▼]

Due to different natural, political and economic conditions, there are clear differences in the territorial distribution and temporal development of late medieval towns in the Greater Region. The map 'Cities of the Late Middle Ages' shows the cities which could be designated as cities in the Late Middle Ages, i.e. between the beginning of the 13th century and the year 1500. It is important that the definition of a late medieval town meets several criteria. [less ▲]

La perception de la Grande Région SaarLorLux par les médias

E-print/Working paper (2013)

How do the media perceive the Greater Region on both sides of the borders? An analysis of the main regional daily newspapers was carried out in order to determine the media's informational centres and ... [more ▼]

How do the media perceive the Greater Region on both sides of the borders? An analysis of the main regional daily newspapers was carried out in order to determine the media's informational centres and peripheries, and to identify the predominant thematic axes. The map is based on the results of a dissertation written in 2008 by a student of the cultural geography department at Saarland University. [less ▲]

Analytical Guidance for Fitting Parsimonious Household-Portfolio Models to Data

E-print/Working paper (2013)

Saving rates and household investment in stocks and business equity are all increasing in income and wealth. Introducing subsistence consumption to a common-across-households Epstein-Zin-Weil utility ... [more ▼]

Saving rates and household investment in stocks and business equity are all increasing in income and wealth. Introducing subsistence consumption to a common-across-households Epstein-Zin-Weil utility function is up to a quantitative explanation, in the context of stan- dardized parsimonious household-portfolio models with risky income. Closed forms in a sim- plified version of the model, with insurable labor-income risk and no liquidity constraints, reveal that if, (i) risky-asset returns are weakly correlated and, (ii) household resources are expected to grow over time, then poorer households can afford exiting subsistence concerns slowly by saving less and by taking less risk, while holding balanced portfolios. [less ▲]

Rule of Law and Participation: A Normative Analysis of Internationalised Administrative Procedures

E-print/Working paper (2013)

Procedural standards of participation have the capacity to structure and constrain the exercise of authority. Focusing on the way decisions are formed, this paper argues that the depletion of such ... [more ▼]

Procedural standards of participation have the capacity to structure and constrain the exercise of authority. Focusing on the way decisions are formed, this paper argues that the depletion of such standards in processes of reception of trans- and international decisions within the EU potentially leads to situations of unrestrained authority and can constitute a challenge to the rule of law. The first part of the paper identifies the conditions under which this may occur. It sets out the basis for a conceptual and normative analysis underpinning the argument that procedural standards of participation can be considered part of the rule of law. As such, the depletion of procedural standards emerges as one facet of a broader problem – the ability of public law to structure discretion and constrain the exercise of authority that results from internationalised procedures. These intertwined decisionmaking procedures cutting across different levels of governance challenge law’s ability to limit executive action and, hence, the rule of law premise that the exercise of public authority ought to be limited by law. In this way, and despite its EU focus, the paper contributes to analysing the challenges and possibilities of the rule of law in the current realities of diffusion of power resulting from internationalisation. This perspective requires a re-conceptualisation of the decision-making procedures that operate the substantive coordination between the sites of governance involved. The processes through which inter- and transnational rules and decisions are received in EU law are only segments of a broader regulatory cycle initiated by inter- and transnational bodies – of which the receiving authorities are either members, observers, or, otherwise active collaborating parties. Such processes can neither be fully grasped by focusing only on the segments of decision-making developed within each legal system, nor can the challenges they pose to law be apprehended from this perspective. They ought to be seen in their entirety as segments of a broader regulatory cycle. On this basis, the second part of the paper proposes two possible routes to rethink internationalised procedures [less ▲]

Cohomological Approach to the Graded Berezinian

E-print/Working paper (2013)

We develop the theory of linear algebra over a (Z_2)^n-commutative algebra (n in N), which includes the well-known super linear algebra as a special case (n=1). Examples of such graded-commutative ... [more ▼]

We develop the theory of linear algebra over a (Z_2)^n-commutative algebra (n in N), which includes the well-known super linear algebra as a special case (n=1). Examples of such graded-commutative algebras are the Clifford algebras, in particular the quaternion algebra H. Following a cohomological approach, we introduce analogues of the notions of trace and determinant. Our construction reduces in the classical commutative case to the coordinate-free description of the determinant by means of the action of invertible matrices on the top exterior power, and in the supercommutative case it coincides with the well-known cohomological interpretation of the Berezinian. [less ▲]

Arts vs Engineering:Choosing Consumption of and Investment in Education

E-print/Working paper (2013)

The consumption-real exchange rate anomaly with extensive margins

E-print/Working paper (2013)

This paper investigates a consumption-real exchange rate anomaly from the open macroeconomics literature known as the Backus-Smith puzzle . We both analytically and quantitatively examine how an expansion ... [more ▼]

This paper investigates a consumption-real exchange rate anomaly from the open macroeconomics literature known as the Backus-Smith puzzle . We both analytically and quantitatively examine how an expansion of trade along extensive margins can contribute to the puzzle s resolution. Our argument is based on 1) a wealth effect due to changes in the number of product varieties, 2) statistical inefficiency in measuring the number of product varieties, and 3) market incompleteness. Contrary to complete asset markets which, in general, feature overly strong risk sharing properties, changes in the number of product varieties under incomplete markets may produce a wealth e¤ect under high trade elasticity. Since statistical agencies systematically fail to capture the welfare impact arising from that changes, data-consistent terms of trade and real exchange rates tend to appreciate due to this positive wealth effect. This provides a realistic correlation between data-consistent real exchange rates and consumption. [less ▲]

Asset Pricing Implications of Macroeconomic Interventions An Application to Climate Policy

E-print/Working paper (2013)

Empirical Welfare Analysis - When Preferences Matter

E-print/Working paper (2013)

Fleurbaey and Maniquet have proposed the criteria of conditional equality and of egalitarian equivalence to assess the equity among individuals in an ordinal setting. Empirical applications are rare and ... [more ▼]

Fleurbaey and Maniquet have proposed the criteria of conditional equality and of egalitarian equivalence to assess the equity among individuals in an ordinal setting. Empirical applications are rare and only partially consistent with their framework. We propose a new empirical approach that relies on individual preferences, is consistent with the ordinal criteria and enables to compare them with the cardinal criteria. We estimate a utility function that incorporates individual heterogeneous preferences, obtain ordinal measures of well-being and apply conditional equality and egalitarian equivalence. We then propose two cardinal measures of well-being, that are comparable with the ordinal model, to compute Roemer’s and Van de gaer’s criteria. Finally we compare the characteristics of the worst-off displayed by each criterion. We apply this model to a sample of US micro data and obtain that about 18% of the worst-off are not common to all criteria. [less ▲]

Das Brauwesen in der Großregion SaarLorLux

E-print/Working paper (2013)

The beginnings of beer go back to the time of Roman rule. However, beer only gained in importance through the medieval monasteries of the Greater Region, but was exposed to strong competition from wine ... [more ▼]

The beginnings of beer go back to the time of Roman rule. However, beer only gained in importance through the medieval monasteries of the Greater Region, but was exposed to strong competition from wine. It was not until the political and economic upheaval following the French Revolution that the brewery industry spread. [less ▲]

(Un)stable vertical collusive agreements

E-print/Working paper (2013)

Real exchanges rates, commodities prices and structural factors in developing countries

E-print/Working paper (2013)

This paper provides new empirical evidence about the relationship that may exist between real exchange rates and commodity prices in developing countries that are specialized in the export of a main ... [more ▼]

This paper provides new empirical evidence about the relationship that may exist between real exchange rates and commodity prices in developing countries that are specialized in the export of a main primary commodity. It investigates how structural factors like the exchange rate regime, the degree of financial and trade openness, the degree of export concentration and the type of the commodity exports affect the strength of the commodity price-real exchange rate dependence. [less ▲]

Rates of convergence towards the Fréchet distribution

E-print/Working paper (2013)

We develop Stein's method for the Frechet distribution and apply it to compute rates of convergence in distribution of renormalized sample maxima to the Frechet distribution.

Inventory of the institutional sources consulted for the research corpus 'A rereading of the Werner Report of 8 October 1970 in the light of the Pierre Werner family archives'

E-print/Working paper (2013)

This Inventory of institutional sources consulted is an output of the major research project dedicated to the European vocation and achievements of Pierre Werner, a former Prime Minister, Finance Minister ... [more ▼]

This Inventory of institutional sources consulted is an output of the major research project dedicated to the European vocation and achievements of Pierre Werner, a former Prime Minister, Finance Minister and Foreign Minister of Luxembourg, unanimously recognised as one of the architects of Economic and Monetary Union. The first stage of the research was particularly focused on the plan for the establishment by stages of an economic and monetary union (more widely known as the Werner Report or the Werner Plan), drawn up by a group of experts chaired by Pierre Werner and officially presented on 8 October 1970 in Luxembourg. [less ▲]

Marriage Formation as an Optimal Stopping Problem with Assortative Meeting

E-print/Working paper (2013)

Spatial Segregation and Urban Structure

E-print/Working paper (2013)

In this paper, we study social interactions between two populations of individuals living in a city. Agents consume land and benefit from intra- and inter-group social interactions. We show that in ... [more ▼]

In this paper, we study social interactions between two populations of individuals living in a city. Agents consume land and benefit from intra- and inter-group social interactions. We show that in equilibrium segregation arises: populations get separated in distinct spatial neighborhoods. Two- and three-district urban structures are characterized. For high population ratios or strong inter-group interactions, only a three-district city exists. In other cases, multiplicity of equilibria arises. Moreover, for sufficiently low population ratios or very weak inter-group interactions, all individuals agree on which spatial equilibrium is best. [less ▲]

A survey of semiparametric efficiency bounds for some microeconometric models

E-print/Working paper (2013)

Currency Carry Trades and Funding Risk

E-print/Working paper (2013)

In this paper, we measure currency carry trade funding risk using stock market volatility and crash risk in Japan, the main funding currency country. We show that the measures of funding risk in Japan can ... [more ▼]

In this paper, we measure currency carry trade funding risk using stock market volatility and crash risk in Japan, the main funding currency country. We show that the measures of funding risk in Japan can explain 42% of the monthly currency carry trade returns during our sample period, 2000-2011. In addition, they explain 64% of the monthly foreign exchange volatility in our sample of ten main currencies, 28% of the speculators' net currency futures positions in Australian dollar versus Japanese yen, skewness in currency returns and currency crashes. We present a theoretical model that is consistent with these findings. [less ▲]

A Syntactic-Semantic Approach to Incremental Verification

E-print/Working paper (2013)

Software verification of evolving systems is challenging mainstream methodologies and tools. Formal verification techniques often conflict with the time constraints imposed by change management practices ... [more ▼]

Software verification of evolving systems is challenging mainstream methodologies and tools. Formal verification techniques often conflict with the time constraints imposed by change management practices for evolving systems. Since changes in these systems are often local to restricted parts, an incremental verification approach could be beneficial. This paper introduces SiDECAR, a general framework for the definition of verification procedures, which are made incremental by the framework itself. Verification procedures are driven by the syntactic structure (defined by a grammar) of the system and encoded as semantic attributes associated with the grammar. Incrementality is achieved by coupling the evaluation of semantic attributes with an incremental parsing technique. We show the application of SiDECAR to the definition of two verification procedures: probabilistic verification of reliability requirements and verification of safety properties. [less ▲]

National Parliaments After Lisbon: Towards Mainstreaming of EU Affairs?

E-print/Working paper (2013)

Galois action on the L-isogeny classes of abelian surfaces with quaternionic multiplication

E-print/Working paper (2013)

Theatralität in E.T.A. Hoffmanns narrativen Texten: Zum Beispiel Das Fräulein von Scuderi.

E-print/Working paper (2013)

On the desirability of tax coordination when countries compete in taxes and infrastructures

E-print/Working paper (2013)

In our paper we show that when countries compete in taxes and infrastructures, coordination through a uniform tax rate or a minimum rate does not necessarily create the welfare effects observed under pure ... [more ▼]

In our paper we show that when countries compete in taxes and infrastructures, coordination through a uniform tax rate or a minimum rate does not necessarily create the welfare effects observed under pure tax competition. The divergence is even worse when the competing jurisdictions differ in the quality of their institutions. If tax revenue is used to gauge the desirability of coordination, our model shows that imposing a uniform tax rate is Pareto-inferior to the non cooperative equilibrium when countries compete in taxes and infrastructures. This result is completely reversed with pure tax competition if countries are not too uneven in size. If a minimum tax rate lying between those resulting from the non-cooperative equilibrium is set, the low tax country will never be better off. Finally the paper shows that the potential social welfare gains from tax harmonization crucially depend on how heterogeneous the competing countries are. [less ▲]

The Dynamics Implications of Liberalizing Global Migration

E-print/Working paper (2013)

On Immersible G-Structures

E-print/Working paper (2013)