Dickey and Fuller proposed some tests for the unit root hypothesis in uni-variate time series. [P. Perron, The great crash, the oil price shock, and the unit root hypothesis, Econometrica 57 (1989) 1361–1401] extended the t-ratio type unit root tests so that they allow for a break in the...

One income distribution is preferable to another under any increasing and Schur-concave (S-concave) social welfare function (SWF) if and only if the generalized Lorenz (GL) curve of the first distribution lies above that of the second. Thus, testing for GL dominance of one distribution over...

The paper forecasts conditional correlations between three classes of international financial assets, namely stock, bond and foreign exchange. Two countries are considered, namely Australia and New Zealand. Forecasting will be conducted using three multivariate GARCH models, namely the CCC model...