This paper investigates how preference endogeneity, in the form of habit persistence, can affect short-run and long-run tourism expenditure decisions. The proposed model is applied to British quarterly data over the period 1979-91 and the empirical results suggest that preference endogeneity...

Using a new non-parametric symmetry test we examine Canadian contract and survey data for evidence of nominal wage rigidities. We compare results from the two data sets with the view to examining the accuracy of survey data and consider whether the private/public and union/non-union sector...

We compare the sensitivity analysis of cross-country growth regressions based on extreme bounds analysis to a more direct specification testing approach using non-nested hypotheses tests. The results suggest that those specifications that are adequate are also those that include two of the only...

In this study the authors test the efficient market hypothesis in the Athens Stock Exchange for a number of selected stocks from the banking sector. They distinguish between a "weak" and "semi-strong" version of the hypothesis depending on the agents' information sets. For the "weak" version...