This study explores the dynamic co-movement between oil and six stock markets (China, India, Japan, Saudi Arabia, Russia, and Canada) by using two types of wavelet analysis (wavelet multi-scale decomposition and wavelet coherence). The main empirical results are as follows: (1) Maximal overlap...

This paper aims to study the recent increase in the spread of refined-crude petroleum prices in the US. We analyze the evolution of crude oil prices, refining costs, distribution costs, and taxes, comparing the pre and post covid periods. Fractional integration and cointegration methodologies...

The study analytically examines the determinants of government expenditure in Nigeria using a sample from (1986-2021); the data was secondary in nature. Source from world development indicators and Central Bank of Nigeria. The method of analysis used are; descriptive and inferential statistics...

This paper extends the multivariate index autoregressive model by Reinsel (1983) to the case of cointegrated time series of order (1, 1). In this new modelling, namely the Vector Error-Correction Index Model (VECIM), the first differences of series are driven by some linear combinations of the...

This study investigates the properties of a self-normalization inferential method in cointegrating regressions. The test statistic is constructed using recursive integrated modified ordinary least squares estimators. The proposed test does not involve a long-run variance estimator, and the test...

Macroeconomics remains an evolving science, but the goals of macroeconomic policy are consistent around the world. These include price stability, currency stability, unemployment, the balance of payments, and growth output. This study X-rayed the link between Real Gross Domestic Product (RGDP)...

This study investigated the determinants of the exchange rate in Nigeria via evidence from the Error Correction Model (ECM) over the period 1981 to 2020. The study focuses on two main objectives. The theoretical review highlights three main exchange rate determination approaches: The Purchasing...

This paper explores the impact of investment and employment on Egypt's agricultural growth during the period 1991 to 2021 using annual time series data. We use the ARDL approach to examine the long-run and short-run relationships among agricultural investment, agricultural employment and...