This paper investigates the relationships between real stock returns and a number of financial and economic variables for the UK economy for the period 1980 to 1994. We begin by discussing a theoretical model proposed by Balvers et al. and then re-estimate for the UK what may be regarded as an...

The purpose of this study is to establish the determinants of stock market returns for the UK market and to forecast the real capital gain for the Financial Times All-share index using monthly data for the period 1980-1994. Three models are used: (a) a model based on Fama's approach including...

The objective of this paper is to estimate both long-run reserves and long-run money demand equations using the multivariate cointegration approach. An economic model is constructed, based on the monetary approach to the balance of payments, in which the monetary authorities can control the...

It is now widely known that most economic time series of nominal and real exchange rates, money supplies, nominal and real interest rates, price levels and annual rates of inflation possess the property of unit root non-stationarity (stochastic trends). The objective of this paper is to consider...

This note presents evidence on the predictability of UK stock returns using a database of companies in the FTSE-Allshare Index newly constructed towards the beginning of 1998. The tests used are autocorrelations at various lags and variance ratios for several aggregations of base observations....

The objectives of this study are to examine both the significance of the impact of farmers' perceptions regarding new technology for the adoption decision and how perceptions themselves are influenced by the decision to adopt new technology. The study is based on data from 96 wheat farms in the...

Unemployment rates as well as income per capita differ vastly across the regions of Europe. Labour mobility can play a role in resolving regional disparities. This paper focuses on the questions why labour mobility is low in the EU and how it is possible that it remains low. We explore whether...

The objective of this study is to propose an economic model of the nominal money balances and reserves in the Turkish economy during the period 1960-1988. As most of the variables show unit root non-stationarity, an approach based on the error correction system (Phillips, 1991) is adopted. The...