In the wake of the global financial crisis, leading industrialized countries have managed to show only a gradual recovery, while East Asian economies have surged ahead. In particular, China achieved growth in excess of 10% in 2010 and is expected to continue growing at a rapid pace. It appears...

This paper empirically analyses the stability of the aggregate import demand function for G7 countries. The standard cointegration test and a test developed by Gregory and Hansen are performed. The results of standard cointegration tests suggest that there is no stable cointegrating relation...

Purpose: The purpose of this paper is to investigate how the selection of return distribution impacts estimated volatility in China’s stock market. Design/methodology/approach: The authors use a Bayesian analysis of fat-tailed stochastic volatility (SV) model with Student’s t-distribution,...

Purpose: The purpose of this paper is to examine the day-of-the-week effects of Bitcoin (BTC) markets on the exchange level from January 2014 to September 2018. Design/methodology/approach: The in-depth study on the day-of-the-week effects is conducted by using data consisting of Bitcoin prices...

This paper applies a bootstrap method to the Almost Ideal Demand System (AIDS) proposed by Deaton and Muellbauer (Am Econ Rev 70:312–326, <CitationRef CitationID="CR5">1980</CitationRef>), where the moving blocks bootstrap (MBB) and pairs bootstrap (PB) methods are adopted taking into account serially correlated error terms and limited...</citationref>