Established in December 1990 and July 1991 respectively, the Shanghai and Shenzhen Stock Exchanges are the only two official stock markets in China. This paper aims to test for randomness in each stock exchange share price index, and to examine the relationship between the two share price...

This paper uses a time varying parameter (TVP) approach to model and forecast the aggregate consumers' expenditure on non-durables and services in the UK. The results suggest that the TVP method is particularly useful in forecasting when the structure of the consumption model is unstable.