Employing a battery of unit root and cointegration tests, using the U.S. annual data on saving and investment rates over the period 1950-2002, this paper presents new econometric evidence to show that in the United States, the Feldstein-Horioka puzzle does not hold valid. This finding is...

This paper assesses the evolution of occupational segregation by sex using comparable data sets for Costa Rica, Ecuador and Uruguay over the 1989-1997 period. We estimate segregation indices using two-digit occupational categories for the entire employed labor force and also for sub-samples with...

This paper is an attempt in analyzing the factors that affect the choice of retail banks by customers residing in the Niger Delta Region of Nigeria. The study involved a survey of 1000 bank customers using the questionnaire as the vital research instrument, augmented with personal interviews of...

We estimate the impact of dollar changes on the value of German DAX corporations, using APT-modelling for the period 1977 - 1995. Several macroeconomic risk factors, including the dollar and a residual market factor representing the general market risk, are specified. The general notion is that...

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...

Countries that are moving from central planning to a market economy face unique problems in many areas, including taxation and public finance. The methods of collecting the revenue needed to fund government services were much different under a socialist system. Shifting to a market system...