Using data of the market for cigars in the US, this study investigates whether relative prices provide signals of qualitative differences even under circumstances of dramatic market changes. The results indicate that, though the link may be weakened, it remains intact under such pressure.

The empirical results in this paper show a negative and statistically significant relationship between inventory variability and price variability, thereby lending support to the contention that inventory adjustments help to smooth price. The implication is that inventories assist in...

This paper examines the effect of tenure on the earnings of males in the UK public and private sectors. The earnings-tenure effect is important in that it provides helpful information for individuals who are about to enter the labour market. Given the distinct labour markets associated with the...

This paper undertakes a study of the Purchasing Power Parity doctrine as a long run equilibrium condition among a highly economically integrated set of nations, namely members of the European Monetary System (EMS). Here we examine the bivariate cointegration properties of the intra-EMS spot...

The objective of this paper is to investigate the Granger 'causal' dynamic relationship between Taiwan-Japan trade balance (T), and four macrovariables: output (Y), exchange rate (E), money supply (M), and price index (P). The ADF Unit Root Test results show that the variables are all integrated...

This paper measures capital mobility in France by analysing the direction of causality between the real exchange rate and the interest rate. Cointegration and Granger causality tests show that the direction of causality between the two variables reverses in 1987, the date at which capital...

Existing economic studies have revealed conflicting evidence regarding the relationship between unemployment and crime. In this paper we argue that the conflicting evidence that has appeared in previous studies reflects inadequate statistical analysis. Specifically, we argue that insufficient...

The impact of property taxes on the cost of livings are examined. Using county data for the state of Florida, the instrumental variable (IV) heteroscedasticity-corrected results indicate that the per capita property tax exercises a positive and significant impact on the cost of living.

In this paper we model six major foreign stock index returns as conditionally heteroscedastic processes with time dependent autocorrelation. The findings point to a significant inverse relationship between volatility and autocorrelation. This is in agreement with previous findings for the US...

Firms strive to become industry leaders for a number of reasons including the market power that such a position endows upon them, the prestige relating to it as well as the increase in profits that it often results in. In this paper, we concentrate on the duration of survival of leaders and on...