This article applies duration analysis to pricing behaviour in an oligopolistic industry, namely the UK Retail Petrol Industry, for the period January 1983 to October 1989. The findings of the analysis are that: a period of rising or falling prices will reduce the lengths of price stability and...

The effect of using gross investment data and utilized net capital stock data respectively to construct the investment-output ratio in growth equations modelling the effects of exporters and the government is demonstrated. Almost all such models in the literature use the former data, and yet, as...

Conventional PPP neglects the role of uncertainty and expectations in the determination of exchange rates. In the presence of uncertainty and expectations about the future, as postulated by ex ante PPP, the exchange rate is determined not only by current relative prices but also by the expected...

In this letter a vector autoregressive framework is used in order to assess the empirical and economic relevance of the present value model of stock prices with varying discount factors, using data from the New York Stock Exchange over the period 1974-90. The time-series properties of the...

Using panel estimation for a large sample of industrial and developing countries we find significant negative effects of inflation on economic growth. The magnitude of these effects is, however, much larger for the industrial countries than for the developing countries

The bias of the net external asset position (NEAP) which arises from the revaluation of Foreign Direct Investment (FDI) is examined. The bias is defined as the difference between the historical value and the market value of the balance of inward and outward FDI. Possible effects of the...