This paper studies the impact of takeovers on the profitability of the participating companies and the influence of institutional investors on this process. It involves an original approach to assessing the profitability impact by modelling the dynamics of corporate profitability. It is shown...

The first essay attempts to explain how the economy responds to transient exogenous exchange rate and cost-push shocks using a small open economy New Keynesian dynamic general equilibrium model that incorporates prices and wage stickiness and cost channel of interest rate to inflation. The model...

Similar to global currencies, the Zambian currency (kwacha) has varied considerably against major currencies since the early 1990s. Existing empirical evidence reveals that fluctuations in exchange rates can potentially generate distortions in the economy. However, insufficient empirical...

This thesis provides an applied macroeconometric study of the determination ofoutput and inflation and of stabilization policy. Its focus is on the time series analysisof output and inflation, concentrating on the use of direct measures of expectationsand data obtained in real time, and modelled...

Abstract The micro-economic behaviour of economic agents in the crisis-affected Asian economies, together with the private sector’s expanding role in developing countries in general have focused attention on issues of competition, corporate governance and finance. The paper explores the...

A large literature has used tests for Granger (1969) non-causality, GNC, to examine the interaction of military spending with the economy. Such tests answer a specific although quite limited question: can one reject the null hypothesis that one variable does not help predict another? If one can...

This paper considers the implications of the permanent/transitory decomposition of shocks for identification of structural models in the general case where the model might contain more than one permanent structural shock. It provides a simple and intuitive generalization of the influential work...

Se considera la estimacion y la inferencia de vectores autorregresivos en panel (VAP) con efectos fijos cuando la dimension temporal del panel es finita y la dimension de corte transversal es grande. Se propone un estimador de maxima verosimilitud (MV), basado en una funcion de verosimilitud...