This paper investigates the asymmetric equilibrium relationship among labor productivity, labor demand, and the exchange rate in Taiwan's manufacturing industry using a threshold cointegration test that allows asymmetric adjustment. The findings show that there is a temporal delay in the...

In the debate on the benefits of international financial integration, recent literature has emphasized the development of domestic markets as a precondition. This paper offers an alternative view. Lack of competition in domestic financial systems may prevent countries from reaping the benefits...

The behavior of agricultural commodity markets can arguably result in markedly asymmetric price cycles, that is, downward cycles of substantially different length and breadth than upward cycles. This study assesses whether asymmetric-cycle models can enhance the understanding of the dynamics and...