We extend Harris and Zhao (2007) by proposing a (Panel) Inflated Ordered Probit model, and demonstrate its usefulness by applying it to Bank of England Monetary Policy Committee voting data.

We extend Harris and Zhao (2007) by proposing a (Panel) Inflated Ordered Probit model, and demonstrate its usefulness by applying it to Bank of England Monetary Policy Committee voting data.

One of the main benefits that has flowed from increasing capital markets liberalization has been the opportunities that this has provided to facilitate international diversification. This paper aims to determine the benefits of the asset allocation process undertaken by fund managers in 15...

This study analyses the use of cash as an asset class by professional funds managers and compares the returns generated over time by these fund managers with a direct investment in three 'risk free'; interest rate securities -- overnight cash, a 180 day bank bill and a medium term Commonwealth...

Even in the face of a continuously changing economic environment, interest rates often remain unadjusted for long periods. When rates are moved, the norm is for a series of small unidirectional discrete basis-point changes. To explain these phenomena we suggest a two-equation system combining a...

This article examines the relationship between asset returns and changes in the announced target cash rate of the Reserve Bank of Australia during the period from September 1990 to June 2000. Using a two stage least squares model adapted from Lowe (1995) the analysis found that there is an...