This paper proposes a new Bayesian multiple change-point model which is based on the hidden Markov approach. The Dirichlet process hidden Markov model does not require the specification of the number of change-points a priori. Hence our model is robust to model specification in contrast to the...

Previous studies on technical analysis mostly report the profitability of specific trading rules for a given set of historical data. In this paper, we use the human trader experiment approach to compare the performance of experienced and novice traders. It is found that traders who are more...

The frequency of financial market turmoil has been rising over the past two decades. While the incidence of market turmoil has increased, the performance of analysts during tumultuous times has not received much attention in the literature. This paper examines whether the accuracy of analyst...

This paper examines the determinants of exchange rate regime of a country. A competing risks model (CRM) is estimated. It is found that the way a country exits a fixed exchange rate regime is affected nonlinearly by the duration of the peg. In addition, countries with a lower growth rate of...

From the analytical view of a recycling economy, the regional system achieves the goal of sustainable development through improving resource utilization efficiency, reducing energy consumption and ameliorating the quality of water and air. The regional economic system’s potential for...

New analytical solutions in the theory of the Brownian coagulation with a wide class of collision kernels have been found with using the Taylor-series expansion method of moments (TEMOM). It has been shown at different power exponents in the collision kernels from this class and at arbitrary...