The cyclical properties of producer and consumer prices are analysed on quarterly data for the period 1961:1 to 1990:4 for 15 OECD countries. It is found that the cyclical properties of prices vary substantially over time and across countries. All countries have periods with pro- and...

A number of authors have argued that financial prices may exhibit hidden long-term dependence. We consider this claim analysing German stock market data. Applying three different concepts for the identification of long memory effects, virtually no evidence of such behaviour is found for stock...

In this paper the cost of capital of the UK's newly privatized utilities is estimated using both the CAPM and the APT. It is found that the APT provides a better description of excess security returns than the CAPM. However, neither model can explain the crosssection of excess returns on the...

Many empirical studies have suggested that purchasing power parity (PPP) does not hold in the short run, and some conclude that PPP is not observed even in the long run. The recent collapse of the Mexican peso suggests otherwise, however. This study examines whether PPP has bound the nominal...

R&D spillovers contribute to total factor productivity (TFP) growth. This paper examines the contribution of intranational and international R&D spillovers between Canada and Japan to industrial TFP growth. TFP growth is measured and decomposed for 10 Canadian and Japanese manufacturing...

This paper employs nonparametric change-point tests to business cycle duration data in the United States. The findings are consistent with recent studies citing longer expansions and shorter contractions since World War II. However, it is found that these shifts occurred much earlier. There is...

The issues of measurement of technical efficiency in the production of matoke in Uganda are investigated. A Cobb-Douglas functional form is used to represent the underlying production technology and corrected least squares procedure to estimate the model and the farm-specific measures of...

Child labour has been the focus of research since the Industrial Revolution, but few provide an econometric examination of the relationship between imports and child labour. This paper fills this gap by presenting a probit model and testing for American imports in 1990 from a broad group of 92...

This paper is mainly concerned with estimating appropriate production functions for the Chinese economy using provincial data, 1973-89. It is hoped that the results obtained would help to assess the variabilities in the scale elasticity, elasticity of substitution as technical progress over...

This note tests the rational expectations-permanent income hypothesis for the six ASEAN countries using the methodology developed by Hall and Flavin. The statistical evidence rejects the hypothesis for each country except Singapore.