This paper examines via cointegration techniques the empirical validity of the monetary model of exchange rate determination as a long-run equilibrium condition for the Korean won-U.S. dollar rate over the recent period of economic liberalization in Korea. Using monthly data from 1980 to 1995,...

This paper tests for the existence of long run inter-regional equilibrium relationships in income per capita within the UK over the period 1971-95. We examine both the cross-sectional and time-series evidence of inter-regional convergence. The time series approach allows us to investigate...

This letter tests the relevance of the Ricardian interpretation of the causal relationship between rent and corn price for the English housing market, by testing for strong exogeneity between house and land prices. The results are mixed. On the one hand they support the weak exogeneity of house...

An earlier paper by Lacey (1990) examined the National Football League betting market, using data from the 1984-1986 seasons. He tested 13 technical rules for betting and found several that had winning proportions significantly greater than 0.5 and were also profitable after transaction costs....

This paper employs a sample selection model to analyse the effects of a location's tax climate on manufacturing activity from 1974-1994. Results reveal the 'tax effect' varies substantially across industry and is significant in half of the industries analysed-chemical and allieds and food and...

This paper provides an empirical comparison of consumption and market betas for to 23 Australian industry portfolios, using quarterly Australian data. The results reveal that there is very little sensitivity of returns to consumption growth where consumption growth is measured contemporaneously....

The property of an independent forward-solution in the general solution to linear dynamic RE models is lost where a bubble component has non-zero higher-order moments and where the implicit agents of the model are not risk-neutral. If the conditional higher-order moments are nonstationary, the...

This letter examines, by example, variations in results of typical empirical tests when data sets of different periodicity are compared. The example involves an investigation of the price transmission process in the US broiler industry utilizing separate monthly and weekly data sets. Differing...

This paper examines the causes of housing cycles during 1986-1994 in California using vector autoregressive (VAR) and variance decomposition technique. The paper tries to compare the effect of speculative behavour of landlords with economic fundamentals in boosting the housing demand. The...

Taste changes in the demand for seven food items and 28 regions in rural China are identified. The results indicate a strong shift in consumers' preference against (towards) rice and tobaccos (wheat and alcohol). Considerable efforts are made in this paper to discuss possible causes of these...