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This paper tests Mankiw’s (1987) revenue-smoothing hypothesis, that the inflation rate moves one-for-one with the marginal tax rate in the long run, using the new average marginal tax rate series constructed by Stephenson (1998) and the long-horizon regression approach developed by Fisher and...
Persistent link: https://www.econbiz.de/10015216496
In this paper we test for deterministic chaos (i.e., nonlinear deterministic processes which look random) in seven Mont Belview, Texas hydrocarbon markets, using monthly data from 1985:1 to 1996:12--the markets are those of ethane, propane, normal butane, iso-butane, naptha, crude oil, and...
Persistent link: https://www.econbiz.de/10015217172
Purpose – To test the Feldstein‐Horioka hypothesis that the investment‐to‐output ratio moves one‐for‐one with the saving‐to‐output ratio, suggesting international capital mobility. Design/methodology/approach – The paper uses the econometric framework developed by Fisher and...
Persistent link: https://www.econbiz.de/10014863142
Purpose – This paper set out to use an autoregressive conditional heteroscedasticity (ARCH)‐type model to capture the time‐varying conditional variance of Alberta electricity prices. This is of major importance in forecasting, since ARCH‐type models allow the conditional variance to...
Persistent link: https://www.econbiz.de/10014863206
We perform non-linearity tests using daily data for leading currencies that include the Australian dollar, British pound, Brazilian real, Canadian dollar, euro, Japanese yen, Mexican peso, and the Swiss franc to resolve the issue of whether these currencies are driven by fundamentals or...
Persistent link: https://www.econbiz.de/10008503575
Persistent link: https://www.econbiz.de/10001234531
Persistent link: https://www.econbiz.de/10001256172
Persistent link: https://www.econbiz.de/10002118356
Persistent link: https://www.econbiz.de/10003022214
We perform non-linearity tests using daily data for leading currencies that include the Australian dollar, British pound, Brazilian real, Canadian dollar, euro, Japanese yen, Mexican peso, and the Swiss franc to resolve the issue of whether these currencies are driven by fundamentals or...
Persistent link: https://www.econbiz.de/10013117747