Policy prescriptions have generally assumed that exchange rate depreciation would stimulate exports and curtail imports, while exchange rate appreciation would be detrimental to exports and encourage imports. This prediction has, however, often neglected to consider the existence of the import...

With the help of spectral and structural time series analyses it is found that the demand for electronics in the USA goes through a cycle with a period of about four to five years. Because of the synchronized nature of the electronics market, the global demand for electronics is likely to follow...

Observed random walk behaviour of a tax rate does not necessarily support the tax smoothing hypothesis though the latter implies the former. This article presents a direct test of tax smoothing by showing that if the tax smoothing hypothesis holds then the future tax rate should cointegrate with...