We analyze the international transmission of interest rates under pegged and non-pegged exchange rate regimes, demonstrating that transmission depends upon the informational properties of a base country’s interest rate change. We differentiate between interest rate movements which are...

In 1951 R. A. Fisher described what had been achieved in the 20th century so far: “we have learnt (i) To conserve in its statistical reduction the scientific information latent in any body of observations. (ii) To conduct experimental and observational inquiries so as to maximise the...

In this paper we introduce threshold type nonlinearities within a single equation cointegrating regression model and propose a testing procedure for testing the null hypothesis of linear cointegration versus cointegration with threshold effects. Our framework allows the modelling of long run...

Export orientation of multinational corporations (MNCs) has seldom been incorporated in the analysis of spillovers from foreign direct investment (FDI). Also, until recently empirical research dealt mainly with intra-industry spillovers from FDI with restrictive treatment of inter-industry...

Why are labour-managed firms so rare in market economies? We address this question by analysing the determinants of entry. A negative binomial random effects model is used to examine a panel of UK entry data. Our main finding is a significant negative relationship between entry counts and both...

In an effort to stimulate more attractive football, the international football association FIFA, has introduced several new rules over the past decades. One of the most recent rule change is the introduction of the ``sudden death'' or ``golden goal'' rule for games going into extra time play....

The aim of this paper is to show that both location and stereotype racial beliefs matter for explaining the high criminality rate among blacks in cities. In our model, blacks and whites are identical in all respects. However, if, for no economic but for extrinsic reasons, every-body (including...