Employing implicit discount rates (derived from subjects' cash-flow responses) previous experimental studies find that the order of magnitude of the implicit rates is higher than actual capital-market rates, and that the impact of time (t) and (S) of the cash-flow on discount rates (R) is...

This paper investigates the causal linkages between velocity of money and both anticipated and unanticipated components of money supply growth, and its variability as measured on the Malaysian annual data (1973-94). The motivation is to provide evidence in a developing country context about...

This paper makes a comparison and contrast with the work of Johnes (1994). A similar set of survey results are employed to identify the variables which influence undergraduates' decision to take out student loans. In general income factors are not found to be significant. There is evidence that...

This paper is concerned with specification and estimation of a model explaining market shares for the world's major vegetable and tropical oils. Market shares are explained by relative prices and an attribute variable designed to reflect increased consumer preference for polyunsaturated fats and...

The long-run saving-investment correlation for the 24 OECD countries is re-examined using the Johansen procedure. It is found that saving and investment rates are not correlated in the long run for the majority of OECD countries. In the countries where cointegration is found, the Gonzalo-Granger...

In work previously published in Applied Economics, Pratt and Hoffer (1990) did not find a significant effect upon US domestic vehicle resale prices from differences in reliability (maintenance expense) across models. This study, however, utilizes an alternative measure of reliability differences...

This paper examines time-series properties of economic growth and its key determinants for South Korea and India. The paper adopts a non-parametric method suggested by Cochrane (1988) and used by Campbell and Mankiw (1987) and Romer (1991), among others, to measure the persistence of economic...

In recent years much evidence has been documented of the existence of regularities in stock price returns, and consequently the notion of market efficiency has been questioned. The primary objective of this paper is to investigate the 'weekend' effect for a large sample of daily returns from the...