When variables included in an OLS regression are stationary, conventional statistical measures such as t-statistics and R2's - in addition to a priori information from economic theory - are the standard indicators used to assess the performance of the hypothesized model. However, if the...

This paper analyses, for the first time, consumer preferences for religion within the British Isles. We examine the characteristics of the leading denominations on a cross-sectional basis for 1994 in relation to their membership. It is found that significant factors determining religious...

A correction is proposed for a test of market efficiency that is commonly applied to sports betting markets. Markets offering spread and totals wagers, such as football and basketball, typically employ the 'eleven for ten' betting rule. The previously established test statistic for profitability...

This paper examines the issue of transfer pricing with particular reference to Japanese multinational companies against the background of recent press reports alleging the misuse of this pricing mechanism to locate artificially group profits in countries where a tax advantage may be obtained....

It is sought to investigate a possible long-run association and Granger causality between US stock and short-term corporate bond markets by applying the well-known cointegration and error-correction methodology. The unit root tests reveal that the rates of return from S&P 500 and short-term US...

This paper addresses the issue of optimal movie design with respect to a single series of feature films, the James Bond movies. This is in contrast to previous studies where analysis has been primarily confined to samples of record box office earning movies. With respect to US admissions and...

A necessary condition is derived for negativity in the almost ideal demand system (AIDS) when used with the Stone price index. This condition is very simple and can be examined by a t-test on a single equation within the framework of ordinary least squares (OLS) estimation.

The use of margin requirements as a potential policy tool for controlling sudden stock price changes and market volatility has attracted considerable attention in the developed stock markets. However, no consensus has emerged regarding the significance of the impact of changes in margin...

The macroeconomic effects on agricultural prices in the Greek economy and, in particular, differences in prices paid and received by farmers (cost-price squeeze) are examined employing integration and cointegration analysis. A Johansen cointegration test between prices paid and prices received...

This note highlights two common problems with the application of the population CES aggregator introduced by Armington. Both are related to the dependence of the input shares on the elasticity of substitution even when relative prices are held constant. A modified CES aggregator is proposed...