Markov regime-switching analysis is used to consider the relationship between business confidence and the probability of turning points in cyclical GDP. We find, in an application to New Zealand, that confidence is related to both the deepness and duration of the business cycle and is asymmetric...

The Johansen approach to estimating long-run cointegration vectors is used with the Penn World Tables data to estimate returns to scale. Thus, this approach has the advantages of including a measure of capital, it overcomes the simultaneity problems associated with the single-equation Verdoorn...

This article estimates whether knowledge links with universities impact on establishment-level Total Factor Productivity (TFP). Using propensity score matching, the results show a positive and statistically significant impact although there are differences across production and nonproduction...

There is now substantial evidence that daily equity returns are not normally distributed, but instead display significant leptokurtosis and, in many cases, skewness. Considerable effort has been made in order to capture these empirical characteristics using a range of statistical distributions....