In this paper the authors have investigated the response of exports in Morocco to exchange-rate volatility using the recently developed cointegration and error-correction techniques. In measuring volatility, many previous studies have used a moving-average standard-deviation. The authors argue...

This paper considers testing problems where several of the standard regularity conditions fail to hold. We consider the case where (i) parameter vectors in the null hypothesis may lie on the boundary of the maintained hypothesis and (ii) there may be a nuisance parameter that appears under the...

Simple regression tests that have power against the alternatives that. asset prices and expected future asset returns are excessively volatile are developed and performed for the foreign exchange and stock markets. These tests have a number of advantages over alternative, variance hounds...