This paper analyzes the long-run relationship between gold and silver prices. The three main questions addressed are: the influence of a large bubble from 1979:9 to 1980:3 on the cointegration relationship, the extent to which by including error correction terms in a nonlinear way we can beat...

Variations in overall liquidity can be measured by simultaneous changes in both immediacy costs and depth. Liquidity changes, however, are ambiguous whenever both liquidity dimensions do not reinforce each other. In this paper, we characterize ambiguity using an instantaneous time-varying...

This paper analyses the determinants of broadband Internet access prices in a group of 15 EU countries between 2008 and 2011. Using a rich panel data set of broadband plans, we find a positive effect of downstream speed on prices, and that the price per Mbps of cable modem and fibre technologies...

In this paper, an analysis of secondary spectrum market for an OFDM based technology is performed. The potential transactions between three different operators (entrant, medium and incumbent) are considered in three different scenarios: urban, suburban and rural. Based on their business models...

Outliers and nonlinearity may easily be mistaken. This paper uses Monte Carlo methods to examine and compare the behavior of two competing specification procedures for Smooth Transition AutoRegressive [STAR] models under various different circumstances (linear and nonlinear data generating...