I apply the Beveridge-Nelson business cycle decomposition method to the time series of murder in the United States (1900-2004). Separating out “permanent” from “cyclical” murder, I hypothesize that the cyclical part coincides with documented waves of organized crime, internal tensions,...

This study aims at examining the impact of financial liberalization on welfare and presents the empirical evidence from Nepal using ARDL modeling cointegration test method. The test results indicate that financial liberalization is positively associated with increased employment opportunities in...

The relevance of bank lending channel for the transmission process of monetary policy in Malaysia is investigated using the autoregressive-distributed lag (ARDL) model. The newly developed bounds test (Pesaran, et al. 2001) is employed to determine the specification of this model. Deposits tend...

This paper adopts the MIMIC approach to estimate the relative development of corruption in 23 OECD countries for the period 1975-1993. The results indicate that Japan, Portugal, Spain, Greece, South Korea, and Turkey face with relatively high level of corruption while Netherlands, Norway,...

The objective of this paper is to estimate the demand elasticity for Tunisia exports using recently developed non-stationary panel methodologies. We consider quarterly data of Tunisian exports to the major European trading partners from 1987 to 2004. Our estimation results of the price and...

The paper aims to investigate the economic relationship between inflation and domestic debt. In countries that experience high inflation, the inflationary process fed on increasing costs of domestic debt. As a result, the increasing debt to GDP ratios led these countries to borrow at higher...

The paper examines the impact of several stock market price indices and macroeconomic variables on the Thai stock market, using a GARCH-M model and monthly data (1988M1-2004M12). We find that (a) changes in returns in Singapore, Malaysia and Indonesia before the 1997 crisis, and changes in...

Unlike previous studies which use statistical break tests to analyze the forward-lookingness of monetary policy rules, this study proposes the methodology that if the parameters of the Taylor rule change when the mechanism generating inflation changes, that is the Lucas critique applies, then...

This paper explores trade relations between Canada and China which differ considerably in factor endowments. It focuses on Canada’s export- and import concentration and intra-industry trade involving China. The findings show that Canada’s exports to China are far more concentrated compared...