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...

This paper estimates the long-run demand for money in Romania using monthly data from January 1994 to August 2003. The Johansen-Juselius cointegration procedure provides evidence of one cointegrating vector for both narrowly and broadly defined money demand functions. Real money balances are not...

Following the work of Chen, Roll, and Ross (Journal of Business, 59, 383-403, 1986), there has been considerable work examining the influence of macroeconomic state variables on the excess returns of REITs. While most of the previous research has focused on the examination of equity REITs, this...

The time series relationship between revenues, expenditures, and GDP in the case of Canada is examined. Utilizing the Johansen-Juselius multivariate cointegration procedure and error correction modelling we find that revenues follow a time path independent of expenditures and GDP. On the other...

This paper examines the Fisher hypothesis for a sample of less developed countries. Recognizing the possibility of spurious regression results, tests of the Fisher hypothesis are undertaken utilizing the Johansen-Juselius cointegration procedure. Of the nine countries studied, only Malaysia,...

This paper presents preliminary results about how close to their offensive potential teams in the National Football League (NFL) play. Our study extends the work of previous researchers in several ways. First, we are the first to investigate the efficiency of professional football teams....