Developments in housing prices are of interest to households, policy-makers and those involved in the housing industry. This has been the case both in Australia and in other countries where house price developments are having significant macroeconomic impacts. However, the construction of...

There is a trade-off between how easy a housing price series is to construct and the extent to which it adjusts for changes in the mix of dwellings sold. Median house price measures are easily calculated, frequently used by industry bodies, and quoted in the media. However, such measures provide...

There is a trade-off between how easy a housing price series is to construct and the extent to which it adjusts for changes in the mix of dwellings sold. Median house price measures are easily calculated, frequently used by industry bodies, and quoted in the press. However, such measures provide...

There is a trade-off between how easy a housing price series is to construct and the extent to which it adjusts for changes in the mix of dwellings sold. Median house price measures are easily calculated, frequently used by industry bodies and quoted in the press. However, such measures provide...

This paper reviews the recent real exchange rate appreciation observed in the three Baltic countries. Until now, this phenomenon may be viewed primarily as a consequence of the undervalued real exchange rates of the new currencies. Looking ahead, a tendency for continued real appreciation is to...

This paper is a response to the literature that tests for cointegration between national stock market indices. It argues that apparent findings of cointegration in other studies may often be due to the use of asymptotic, rather than small-sample, critical values. In fact, economic theory...

This paper examines the evidence for the common assertion that the volatility of emerging stock markets has increased as a result of the liberalization of markets. A range of measures suggests that there has been no generalized increase in volatility in recent years; indeed, it appears that...

This paper examines the performance of emerging market bank stocks around the time of rating changes by major international agencies. The data suggest that downgrades on average have followed periods of negative cumulative abnormal returns for banks, although upgrades have not followed periods...