We analyse the extent of the negative effects of violence in the Basque Country on the financial and economic activity of the region. We use daily data of the Basque stock market index and employ long memory regression models, with the Spanish stock market index and an index for violence...

This article examines the stochastic properties of US term spreads with parametric and semi-parametric fractional integration techniques. Since the observed data (rather than the estimated residuals from a cointegrating regression) are used for the analysis, standard methods can be applied. The...

This article uses an econometric frontier model to evaluate the technical efficiency of English Premier League clubs from 1998/99 to 2002/03 combining sport and financial variables. A Cobb-Douglas cost specification of the technical efficiency effects model is used to generate football club...

This article analyses regulation, ownership and unobserved managerial ability as factors affecting the performance of a representative sample of European airports by means of frontier models. The Alvarez et al. (2004) frontier model is used. These airports are ranked according to their technical...

This article analyses the determinants of banks' profitability in the Portuguese banking sector during the period 1990 to 2005. The study extends the established literature on modelling the banks'k performance by applying a Fourier approximation in order to detect for possible nonlinearities...

This study examines the relationship between savings and investment for 26 transition economies using a panel data set covering the 1991 to 2002 period. Estimates of the saving coefficient based on cross-sectional, fixed-effect, random-effect and mean-group estimators range from 0.263 to 0.315,...

This study extends the literature on the relationships between inflation and inflation volatility by examining the impact of inflation targeting on inflation volatility in Thailand. The ARIMA-GARCH model reveals that inflation targeting marginally reduced the degree of volatility persistence in...

This study examines the influence of the release of a best-selling book and movie, Midnight in the Garden of Good and Evil, set in Savannah, Georgia on local tourism demand. Tourism demand is proxied by revenue collected from an ad valorem hotel room tax in Savannah. The hotel tax revenue series...

This study examines the time series dynamics between US aggregate state and local government receipts and expenditures in differentiating between four hypotheses related to the revenue-expenditure nexus: tax-spend, spend-tax, fiscal synchronization and institutional separation hypotheses. Unlike...

This study extends the literature on the relationship between inflation and inflation uncertainty by examining the impact of official dollarization on inflation uncertainty in El Salvador. The ARIMA-GARCH model reveals that official dollarization significantly reduces the degree of volatility...