Most studies on the economies of scale and scope in the banking industry assume no x-inefficiencies. That is, banks are assumed to be always on their efficient frontier, which can in empirical studies confound scale and scope efficiencies with x-efficiencies. The current paper employs a...

This paper provides further evidence on the relationship between a firm's capital structure and its labour demand. This study estimates dynamic labour demand equations using firm-level panel data for firms in the electronics sector in Ireland for the period 1982 to 1995. These results suggest...

International inequality in aggregate welfare levels has been estimated with the help of Sen and Theil indexes. Results reveal that welfare inequalities have reduced recently and that mean income differences explain most of these inequalities, and its reduction. These findings imply that, at...

This paper examines the impact upon used vehicle resale prices in the USA from the annual reliability evaluations done by Consumer Reports magazine. In contrast to prior work finding no announcement effects upon prices from the evaluations, this study finds significant announcement effects....

A modified Levene statistic and a switching GARCH(1,1)-MA(1) model are employed to examine the impact of index futures contracts on the volatility of the spot market. The findings suggest that, following the introduction of index futures, the volatility of stock returns in the USA, France, Japan...

The purpose of this work is to discuss an empirical method to estimate the social costs originated by the rent-seeking behaviour in declining industries. Due to competition from imports, the factors of one particular industry undergo losses in real income, and have incentives to seek protection....

Based on the augmented Phillips curve and the autoregressive conditional heteroscedasticity model, the author finds that the growth of nonunion wages are positively associated with expected inflation, productivity growth, and the growth of union wages and are negatively correlated with the...

Current literature concerning tourism forecasting points out the role played by international trade in affecting international tourism flows. This study investigates the nature of causal relationship, if any, between international tourism and international trade flows using the case of China....

This study assesses the extent to which public infrastructures have contributed to output in the Chilean economy over the period 1960-1995. For the long-run, it uses a vector error correction model for cointegration tests, while for the short-run, it resorts to the use of impulse response...