This paper uses panel data methods to test for unit roots in data series for carbon dioxide emissions and gross domestic product. By allowing for a structural break in 1973, we reject the unit root hypothesis for both series.

Unlike previous research that investigated the relation between exports and output, in this paper we assess the long-run relation between the degree of openness and economic growth. For the many countries considered here, we find a positive long-run relation between openness and economic growth.

This letter shows how to extend a number of published results on Bartlett and Bartlett-type corrections to likelihood ratio and score test for the test of linear restrictions in regression models. A few applications and simulation results are also presented.

This paper re-investigates the day-of-the-week effect in Australia. This issue has been previously investigated using an Australian dataset over the period 1974-95 by Easton and Faff (Applied Financial Economics, 4, 1994). They find that the robust techniques suggested by Connolly (Journal of...

This paper analyses a simple and direct way to break down the convergence for labour productivity into contributions from different sources by running separate convergence regressions of the contribution to growth of each factor on the initial labour productivity level. This is because the total...

This paper tests for the long-run and short-run relationship between prices and wages in the Irish economy over the 1975-92 period. Using recent econometric techniques in the analysis of time series, we conclude that there is a long-run equilibrium relationship between prices, wages and an...

The close economic relationship between the US and Japan raises an interesting question about the effect of price movements in the US and Japan on the bilateral exchange rate. This paper investigates the long-run purchasing power parity between the US dollar and the Japanese yen. While earlier...

The long-run neutrality of money on real output is tested for Mexico using a model developed by Fisher and Seater. The empirical evidence supports the neutrality hypothesis. The results are robust for both M1 and M2 and an alternative model specification.

In this paper we employ a data set of logarithmic nondividend adjusted daily returns from the Hong Kong Stock Exchange Hang Seng Index, over a thirteen and a half year period to investigate the presence of the January effect, or other monthly seasonalities. Further, we partition our data set...