Conventional wisdom argues that the relation between central bank independence (CBI) and inflation is negative. However, empirical studies based upon regressing inflation rates on CBI tend to reject this hypothesis and show that there is no negative relationship. This article investigates the...

Cointegration analysis is used to study the spot and futures price relationships for two storable commodities, corn and soybeans, and a nonstorable commodity, live hogs, over a 13-year period, 1980 to 1992. For corn and soybeans, cointegration is found in most pre-harvest contracts (July), and...

In this dissertation various tests for parameter constancy in dynamic and non-Gaussian econometric models are studied. The emphasis of this dissertation is given to the moving-estimates (ME) and recursive-estimates (RE) tests because these two tests can be easily extended to models with...