This paper examines the short-run and long-run neutrality of money using methodology suggested by King and Watson (1997) on quarterly data from South Korea and Taiwan (King and Watson (1997), Testing Long-Run Neutrality, Federal Reserve Bank of Richmond Economic Quarterly, 83(3), 69-103). A body...

In this paper we tested whether the hypothesis of tax-spend, spend-tax, or fiscal synchronization applies to the 31 Chinese provinces using cross-sectional and time series data covering 1999 to 2005. The interaction between government revenues and government expenditures is tested with the newly...

This paper carries out the methodology suggested by Den Haan (2000) to investigate the co-movement of inflation and real stock returns using quarterly data from OECD countries. We confirm the existence of both short-run and long-run relationships between inflation and real stock returns,...

This research starts with the assumption that, in Taiwanese companies listed as "Emerging," earnings are manipulated to surpass a cognitive reference point denoted by ¡uN*10k¡v, as has been documented by Carslaw (1988) and Thomas (1989). This paper investigates whether similar manipulation...

The purpose of this paper is to analyze the impact of corporate governance on technical efficiency. We use the Translog stochastic production function to derive technical efficiency. Four empirical results are observed: (1) Technical efficiency has a negative relationship with the following two...

The subject of this paper is the estimation of the Phillips relation ¡V the inflation-output gap tradeoff ¡V for ASEAN countries. Unobserved component (UC) models are employed in order to extract the output gap from GDP data. We also obtain stylised facts on macroeconomic cycles namely, (i)...

This paper uses the ratio of announced rent value to average market price of land as a proxy for the real land tax rate, and employs the spatial econometric approach to estimate the tax competition among local jurisdictions in Taiwan. The empirical results show that the real land tax rate...

Unprecedented resource, economic, and social constraints now require social and economic planners to view 5-year plans as a problem of constrained optimization. Analyses of social accounting matrices have typically been limited to multiplier analyses, which proceed by trial and error and largely...

Predicting corporate distress can have a significant impact on the economy because it serves as an efficient early warning signal. This study develops distress prediction models incorporating both governance and financial variables and examines the impact of major corporate governance...

This study investigates the sources of bilateral real exchange rate (RER) volatility in industrial countries. Going beyond traditional macroeconomic determinants, we identify the role of both trade- and finance-related factors in explaining RER volatility at different time horizons. The results...