This article revisits the weak relationship between exchange rate depreciation and exports for Singapore, using a bivariate generalized autoregressive conditional heteroscedasticity in mean model that simultaneously estimates time-varying risk. The evidence shows that depreciation does not...

Proponents of energy service companies (<italic>ESCO</italic>s) argue that these firms provide a crucial instrument for delivering improved energy efficiency in public and private sectors, thus contributing to carbon dioxide (CO₂) emission reduction around the world. Do <italic>ESCO</italic>s reduce CO₂ emissions? To answer this...

In this study, a cointegration analysis and a vector autoregressive model (VAR) are used to examine the causal relationships among energy consumption, employment, and output for Taiwan over the period January 1982 to November 1997. Johansen (1988) and Johansen and Juselius (1990) cointegration...

This paper uses a cointegration analysis and a vector autoregressive model (VAR) to examine the causal relationship between defence spending and economic growth for Taiwan and Mainland China over the period 1952-1995. It is found that these two variables are not cointegrated for both countries...

The Asian financial crisis has been characterized by unstable stock and foreign exchange markets in Asia since July 1997. This paper postulates that expected depreciation helps to predict stock market volatility over the turmoil period. Using Taiwan daily data as an example, the estimated...

This article contributes to the empirical literature of Okun's law in three respects. First, in contrast to the limited data used in the existing studies, we employ two extensive (across countries and across states, i.e. within a country) panel data sets to investigate the validity of Okun's...

In contrast to the conventional conditional mean approaches, this study uses quantile regression techniques to present some new statistical evidence on the links between inflation uncertainty and the level of inflation with cross-sectional data from 90 countries during the period 1961 to 2006....

This article examines the effects of technology on productivity growth by disaggregating total output into sectoral components, exploring the roles of investment and technology on productivity growth for countries in different income groups. It finds that for low-income countries, investment is...

The US banking system has just emerged from a troublesome period with many institutions struggling for survival. We examine large commercial banks during the latter part of the 1980s to determine what factors affected bank profitability, using both cross-section and pooled time-series...

This article considers the structural stability of the relationship between the real housing price and real GDP per capita for an annual sample that includes the Great Depression. We test for structural change in parameter values using a sample of annual US data from 1890 to 1952. The article...