This paper develops a wavelet (spectral) approach to test the presence of a unit root in a stochastic process. The wavelet approach is appealing, since it is based directly on the different behavior of the spectra of a unit root process and that of a short memory stationary process. By...

This paper develops a wavelet (spectral) approach to test the presence of a unit root in a stochastic process. The wavelet approach is appealing, since it is based directly on the different behavior of the spectra of a unit root process and that of a short memory stationary process. By...

This draft is a summary of the paper entitled: Forecasting Fuel Prices with the Chilean Exchange Rate. In that paper we show that the Chilean exchange rate has the ability to predict the returns of oil prices and of three additional oil-related products: gasoline, propane and heating oil. The...

In recent years, the government, of African Countries has assumed major responsibilities for economic reforms and growth. In attempting to describe their economies, economists (policymakers) in many African Countries have applied certain models that are by now widely known: Linear programming...

This study examines the global linkages of selected ASEAN countries composed of Indonesia, Malaysia, Philippines, Singapore and Thailand (hereafter ASEAN-5). While economic growth of each country undoubtedly hinges on domestic developments, it also depends on foreign trade and capital movements...

Autoregressive Conditional Heteroscedasticity (ARCH) models have successfully been employed in order to predict asset return volatility. Predicting volatility is of great importance in pricing financial derivatives, selecting portfolios, measuring and managing investment risk more accurately. In...

One of the greatest scientists Albert Einstein laid the foundation of Special and General Relativity. The creation of General Relativity is considered one of the greatest discoveries in the 20th century. General Relativity is the representation of the physical universe in the form of a...

The purpose of this article is, on the one hand, to shed light on some significant aspects of Ricardo's theory of value and on the other hand to show that Ricardo's insights about the explanatory power of the relative labour times on the movement of relative prices were in the right direction....

Autoregressive Conditional Heteroscedasticity (ARCH) models have successfully been employed in order to predict asset return volatility. Predicting volatility is of great importance in pricing financial derivatives, selecting portfolios, measuring and managing investment risk more accurately. In...

In this paper we show that the exchange rates of some commodity exporter countries have the ability to predict the price of spot and future contracts of aluminum. This is shown with both in-sample and out-of-sample analyses. The theoretical underpinning of these results relies on the...