The purpose of this paper is to find the determinants of cyclical real aggregate dividends. In the literature, dividends are hypothesized to be proportional to real permanent earnings, with a smoothing factor that is between zero and +1. An additional postulate is that dividends adjust to a...

As West African Monetary Zone (WAMZ), in Africa is working hard to achieve convergence criteria as a sign of readiness of the five aspiring member states. The issue of similarity of behaviour of macroeconomic indicators has become very important. This paper examines the long term sustainability...

A GWR approach was used to examine how the relationships between a set of predictors and teenage birth rates (TBR) vary across the US. The findings from the global model show metropolitan counties have higher TBR than nonmetropolitan counties. The GWR model confirmed this association and showed...

This study applies the Sequential Panel Selection Method (SPSM) to test the mean reversion properties in the current account balance as percentages of GDP for the ten OECD countries (Australia, Canada, Finland, Germany, Korea, Mexico, Norway, Switzerland, United Kingdom and United States) over...

In this paper, we study nonparametric models allowing for locally stationary regressors and a regression function that changes smoothly over time. These models are a natural extension of time series models with time-varying coefficients. We introduce a kernel-based method to estimate the...