A residential demand for electricity is estimated using aggregate data at a city level for 40 Swiss cities over the period 1987 to 1990. For this purpose, a log linear stochastic equation for electricity consumption was estimated. The empirical analysis has highlighted some of the...

This paper examines the monetary aggregates approach to estimating the size of the underground economy. It is shown that estimates of the size of the underground economy using Canadian data may not be robust, as the time series properties of these aggregates are often inconsistent with simple...

Results are reported of a forecasting competition between linear autoregressive, GARCH, threshold autoregressive and neural network models of the UK monthly unemployment rate series. Evidence is uncovered suggesting the existence of nonlinearities in the series.

The evidence in this note indicates that the average stock market reaction to news of ordinary equity issues by quoted companies may depend on the share issue method employed. Using a sample of announcements made in the UK between 1989 and 1991 we find that the market response is significantly...

This paper explores variance ratio testing of the Australian forward foreign exchange market. Our results support autocorrelation in our first sample period (July 1985 to January 1990) but an absence of autocorrelation in our second sample period (February 1990 to September 1995). This is...

Data from 119 placements of 'personal' advertisments in a national English newspaper were analysed, using logit estimation, to estimate a demand equation for male looks. The results indicate that the women's declaration of wealth offered and divorced status had positive effects on the demand for...

The argument advanced by free market optimists that liberalized agricultural policies will lead to conservation, through reductions in outputs and environmentally damaging inputs, leaves many more things to be decided. Critics have pointed out that lower prices may induce farmers either to...

This paper is mainly concerned with estimating an appropriate production function for the Chinese industry using provincial data. The estimated equations suggest that the appropriate production function is a Cobb-Douglas which reveals statistically significant economies of scale. The results...

This letter reconsiders the empirical tests of the new Keynesian and new classical models performed by Ball, Mankiw, and Romer (Brookings Papers on Economic Activity, 1, 1988) and Akerlof, Rose and Yellen (Brookings Papers on Economic Activity, 1, 1988). The original tests confirm basically to...

The Euler equation model is used to determine the fraction of consumers who are liquidity constrained in ten Asian developing countries. Our estimates of the fraction of liquidity constrained consumers range between 0.5 and 0.9. We further investigate whether financial liberalization has...