Using generalized impulse response functions, this study tests for the trade J-curve for three transitional central European countries - the Czech Republic, Hungary, and Poland - in their bilateral trade with respect to Germany. Our findings suggest that for each country there are some...

Empirical research conducted on economic sectors in the U.S., Germany, Australia and Scotland has shown that factors such as age, size, location, legal form, and industry are related to business growth rates. Much of this research has focused on manufacturing firms thus providing little...

The minimum variance hedge ratio is widely used by investors to immunize against the price risk. This hedge ratio is usually assumed to be constant across time by practitioners, which might be too restrictive assumption because the optimal hedge ratio might vary across time. In this paper we put...

This paper introduces asymmetric impulse response functions and asymmetric variance decompositions. It is shown how the underlying variables can be transformed into cumulative positive and negative changes in order to estimate the impulses to an asymmetric innovation. An application is provided...

Cryptocurrencies are increasingly utilized by investors and financial institutions worldwide. The current paper proposes a prediction model for a cryptocurrency that encompasses three properties observed in the markets for cryptocurrencies—namely high volatility, illiquidity, and regime...

Due to increasing globalization and its potential benefits, many emerging markets have introduced capital liberalization policies to attract much needed foreign direct investment. The objective of this article is to empirically investigate whether the conducted deregulation policies resulted in...