This paper studies how the sensitivity of consumption to income has changed over time as the degree of financial integration has risen. In standard theory, greater financial integration facilitates international borrowing and lending, helping to reduce the sensitivity of consumption growth to...

This paper features an analysis of major currency exchange rate movements in relation to the US dollar, as constituted in US dollar terms. Euro, British pound, Chinese yuan, and Japanese yen are modelled using a variety of non-linear models, including smooth transition regression models,...

Trend rules are widely used to infer whether financial markets show an upward or downward trend. By taking suitable long or short positions, one can profit from a continuation of these trends. Conventionally, trend rules are based on moving averages (MAs) of prices rather than returns, which...

1. Theory of Profit -- 2. Profit Impact in Business Vision -- 3. Smoothing and Earnings Management Policies -- 4. Toward a Definition of Profit Smoothing -- 5. Why China? -- 6. Empirical Analysis of Profit Smoothing.-7. Management Behavior and Profit Smoothing: Implications of the Study.

1. Theory of Profit -- 2. Profit Impact in Business Vision -- 3. Smoothing and Earnings Management Policies -- 4. Toward a Definition of Profit Smoothing -- 5. Why China? -- 6. Empirical Analysis of Profit Smoothing.-7. Management Behavior and Profit Smoothing: Implications of the Study

We estimate nonlinear VARs to assess to what extent fiscal spending multipliers are countercyclical in the United States. We deal with the issue of non-fundamentalness due to fiscal foresight by appealing to sums of revisions of expectations of fiscal expenditures. This measure of anticipated...