The paper proposes that the spot exchange rate consist of two parts. Important information content is with its underlying movement, in accordance with the development in the economy and the adjustment in economic activity. The paper then extracts the underlying movement from the spot exchange...

This paper demonstrates that the estimated parameters in previous research, with wrong signs and wrong sizes, do not indicate market inefficiency and market behaviour as they appear to. In the real world where forecasting errors are substantially large, a correct or an unreasonable estimate of...

This study examines cycles and common cycles in property and related sectors in the frequency domain. The findings indicate that property shares common cycles with a number of economic sectors and, in particular, with those sectors that are the user markets of property, and lags behind in...

The goal of this study is to examine whether promising a Conditional Cash Transfer (conditional on matriculation) at the start of junior high increases the rate at which disadvantaged students matriculate into high school. Based on a randomized controlled trial involving 1,418 disadvantaged...

The goal of this paper is describe and analyze the relationship between ability tracking and student social capital, in the context of poor students in developing countries. Drawing on the results from a longitudinal study among 1,436 poor students across 132 schools in rural China, we find a...

Recent studies have reported a reversal of an earlier trend in income segregation in metropolitan regions, from a decline in the 1990s to an increase in the 2000-2010 decade. This finding reinforces concerns about the growing overall income inequality in the U.S. since the 1970s. Yet the...

The goal of this study is to examine whether promising a Conditional Cash Transfer (conditional on matriculation) at the start of junior high increases the rate at which disadvantaged students matriculate into high school. Based on a randomized controlled trial involving 1,418 disadvantaged...