In the present research we work with excess returns for an emerging stock market i.e. Jamaican Stock Price Index for the determination of volatility persistence and persistence in the mean returns series. We model excess returns in this stock market using state space or unobserved component...

In this study we employ augmented and switching time series models to find possible existence of business cycle asymmetries in U.S. stock returns. Our approach is fully parametric and testing strategy is robust to any conditional heteroskedasticity, and outliers that may be present. We also...

Two of the main problems of many Latin American countries are poverty and low levels of expenditure on health. In many countries there has been little progress in this regard due to the lack of resources, and thus it is important to focus on the main policies that may improve Latin American...

We present the estimation of several equations which relate Imports, Exports, Industry and Non-Industrial Services in Northern Africa, India, China, Brazil, Mexico, Argentina and other countries. The models have into account supply and demand sides and the important relation between Industrial...

Jordan is small country with limited resources , the economy of Jordan is characterized by a high rate of population growth , low participation rates in employment a limited size of domestic market , and a high dependency on external sources . The purpose of this paper is to draw lessons for...

An attempt has been made in the present exercise to examine the savings behaviour in the Indian Economy in terms of shift in the growth rates of domestic savings, and in magnitude of income elasticity of the domestic savings at the aggregate and disaggregate levels during post economic reform...

It is a widely held opinion that the resumption of growth in Africa will require, among other things, an increase in investment, which will have to come primarily from the private sector if growth is to be efficient and sustained. Using a simple neoclassical investment model, we examined the...

We present a dynamic framework for the interaction between borrowing (liquidity) constraints and deviationsof actual hours from desired hours, both measured by discrete-valued indicators, and estimate it as a systemof dynamic binary and ordered probit models with panel data from the Panel Study...

This paper reviews the literature dealing with the effects of exchange rate volatility on trade. The overall evidence is best characterized as mixed as the results are sensitive to the choices of sample period, model specification, proxies for exchange rate volatility and countries considered...

A financial liberalization index (FLI) for Nepal is constructed in order to show the degree or the level of financial liberalization at a particular time. FLI is calculated on the basis of principal components method following Demetriades and Luintel (1997), Bandiera, Caprio et al. (2000),...