While extreme asset price movements are a common feature of the global financial system, recent financial crises have witnessed an increase in the use of serious stress testing in risk management. This paper examines the performance of a bivariate normal distribution model and a bivariate...

The paper entitled "A Common Currency for SAARC: Is it feasible or a pipe dream." an endeavor is made to examine the suitability of SAARC for a suitable currency on the basis of three criteria viz., intensity of trade, shock symmetry and homogeneity of economies. The study revealed that SAARC is...

In this paper, we investigate whether exchange rate risk is internationally priced for both developed and emerging stock markets. we use a multivariate GARCH-in-Mean specification and test alternative conditional international CAPM versions. The evidence supports strongly the international asset...

Given a limited availability of healthcare resources, questions are now being raised about how to sustain an effective health care system and meet the needs of the general population in the current environment. The present study is a humble effort to investigate, using a reformulated Grossman's...

This paper examined the choice of the exchange rate regime in Nigeria using a time series approach. Both multinomial logit and simultaneous limited-independent models were estimated using time series data from 1960 to 2000. The study found that when domestic inflation was relatively high with...