This paper analyses the impact of policy misalignments and structural reform policies on credibility and the long-term success of an exchange rate based (ERB) stabilization programme to reduce inflationary inertia. A controlled signal state-space model is used to test this hypothesis for the...

In this paper, a computable general equilibrium model is constructed and is applied to analyse the economic costs of carbon emissions limits on the Taiwanese economy. The counterfactual simulation technique is applied to investigate the economic effects of mitigating carbon emissions via a...

How food recalls due to bacterial contamination affect the stock prices of two companies are examined using a version of the financial market model that accounts for Generalized Autoregressive Conditional Heteroscedasticity (GARCH) effects. GARCH methodology was necessary to uncover the...

A production model is proposed to explain why economic growth may lead to regional inequality and club divergence. Economic growth starts from a few centres and spills over to other regions. The spillover effect diminishes as distance rises, causing club formation with a clear geographical pattern.

The influence of income, across countries, on the proficiency of leisure, as measure by international football achievement is addressed. It is widely concluded that leisure is a normal good, however; little research has been conducted on the influences of efforts to become proficient at a...

This article provides an analytical framework to measure and decompose total factor productivity growth into technical change and economies of scale, using a profit function approach. Both single and multiple output cases are considered.

Using a vector autoregressive (VAR) approach, the dynamic interactions and causal relationships among volatility, open interest, trading volume and arbitrage opportunities in the S&P 500 index futures market is examined. It is found that increased volatility lowers pricing error. This implies...

This note addresses the following hitherto unstudied question in rangeland management: What is the steady state distribution of livestock animals for rangelands that are managed using short duration grazing? This paper uses the theory of alternating renewal processes to answer this question and...

This paper, using the Imhof method, evaluates the numerically exact critical values of unit root tests based on the OLS estimator when there are drift and trend. The somewhat detailed tables of the exact critical values are presented.

Smyh and Easaw (2001) use a fully flexible ratchet model to estimate the US NAIRU. However, such flexible notions of NAIRU cleanse the natural rate hypothesis of all policy and theoretical relevance. Six successive years of unemployment rates below these estimated NAIRUs produce declining...