Theory suggests a negative relationship between disclosure and the cost of capital. However, empirical research has not, in general, confirmed this. In particular, <link rid="b6">Botosan (1997)</link> finds no evidence of a negative relationship for firms with a high analyst following, and moreover, <link rid="b7">Botosan and...

This article identifies the best models for forecasting the volatility of daily exchange returns of developing countries. An emerging consensus in the recent literature focusing on industrialized countries has noted the superior performance of the Fractionally Integrated Generalized...

In this paper we estimate the marginal rate of substitution between aggregate per-capita consumption and per-capita government expenditure on goods and services using U.S. quarterly data over the period 1953 to 1993. This estimate is an important input to any attempt to assess the overall...