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Lunchseminar in Economics: The Detrimental Effect of Job Protection on Employment: Evidence from France

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A Tale of Two Premiums: The Role of Hedgers and Speculators in Commodity Futures Markets

AbstractThis paper studies the dynamic interaction between the netpositions of commercial hedgers and non-commercialspeculators and risk premiums in commodity futures markets.Short-term position changes are mainly driven by the liquiditydemands of non-commercial traders, while long-term variationis primarily driven by the hedging demands from commercialtraders. These two components influence expected futuresreturns with opposite signs. The gains from…

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Arbitrage Free Dispersion

AbstractWe develop a theory of arbitrage-free dispersion (AFD) thatcharacterizes the testable restrictions of asset pricing models.AFD measures Jensen’s gap in the cumulant generating functionof pricing kernels and returns. It implies a wide family of modelfreedispersion constraints, which extend dispersion and codispersionbounds in the literature and are applicable with aunifying approach in multivariate and multiperiod settings.Empirically,…

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La réforme du droit du divorce et de l’autorité parentale

ColloqueLe 14 juin dernier, la Chambre des Députés a adopté la loi réformant le divorce en instaurant un juge aux affaires familiales, et cette loi entrera en vigueur le 1er novembre prochain. Après plus de dix ans, la mesure symbolique de l’abandon du divorce pour faute est donc actée. Mais la réforme est beaucoup plus…

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4th Luxembourg FinTech Conference

The University of Luxembourg, the Banque Internationale à Luxembourg (BIL) and the Luxembourg House of Financial Technology (LHoFT) are together hosting the 4th Luxembourg FinTech Conference on 10 October.

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