A strong inverse relationship between per capita assistance and population of aid-receiving countries is found in an examination of Canadian bilateral foreign aid to 33 countries over the period 1982-92. However, the middle-income bias present in aid allocation of some other countries is not...

We use the techniques of cointegration and error correction models to estimate long-run and short-run export demand functions for Ireland using quarterly data for the 1979-93 period. We consider three determinants of exports: foreign income, relative prices, and exchange rate volatility. Our...

This paper examines the cyclical behaviour of output, money, stock prices and interest rates using annual US data covering the period 1900-91. The cyclical components are extracted from a seemingly unrelated time series equations model. The cyclical relationships are subsequently assessed by...

This paper re-examines the relationship between alternative monetary aggregates (M0 and M4) and other macroeconomic variables in the United Kingdom. The results of a five-variable VAR analysis are indicative of bidirectional causality between each of the monetary aggregates and real output. Our...

This paper investigates the reason why expected returns to identical bets placed at different odds vary significantly and systematically from one another. It is hypothesized that the cause is the existence for bettors of positive transactions costs. Two different arenas, fixed odds and spread...

Estimates of the demand for cigarettes in Turkey uncovered significant effects from prices, incomes, education and health scares. The previous study did not pre-test for the presence of unit roots. This note reports the undertaking of this task, and the results of cointegrating regression...

The paper re-examines the performance of the monetary model of the exchange market pressure for Korea. Regression results allowing for dynamics show that all the hypothesized effects on the exchange market pressure are confirmed unlike previous research which adopted non-dynamic specification....

We examine the issue of maximal moments of four exchange rates of US, Japan, Germany and France measured relative to the British Pound. It is found that the second moment of exchange rate returns is finite, and therefore, the infinite variance stable distribution is ruled out as a candidate for...

The Double Square Root (DSR) GE model of the term structure is fitted to Australian security yield data over the period 2 January 1984 to 15 December 1995 - a data set of 3041 yields on four securities: 30 and 90-day BAB: and 5 and 10-year bonds. Applying both the OLS and GMM estimators we find...

In this paper, the basic economic factors underlying government decisions on regional allocation of public investment will be examined in relation to the stages of economic development of Japan. We will show that the improvement of dualism in regional income inequality has been the most...