Using the multivariate cointegration methodology, this article documents the evidence of long-run relationships between real stock price and measures of aggregate real activity including real GDP, real private consumption, real money and the real price of oil in the Australian market. Real stock...

Panel unit root tests show that intranational purchasing power parity (PPP) cannot be rejected across major cities in Australia over the period from 1972 to 1999. The persistence of deviations in response to shocks is low, as measured by the estimated exact half-life of 5 to 7 quarters. This is...

This paper investigates whether stock-price indices of seventeen emerging markets can be characterized as random walk (unit root) or mean reversion processes.

Using data from the 14 major states of India, we investigate whether state governments' fiscal policy choices are tempered by political considerations. Our principal findings are twofold. First, we show that certain fiscal policies experience electoral cycles: state governments raise less...

This paper addresses several important issues related to crime. First, we construct a violent crime index taking into account seven different types of crimes. We use an aggregator function to define a crime index that attaches crime-specific weights which can be interpreted as severity of each...

This paper examines the effects of age and tenure on job satisfaction. We estimate a generalized dynamic random effects ordered probit model using the British Household Panel Survey. Contrary to previous literature, we find that age has no significant impact on job satisfaction for females, and...

We propose a different methodology to assess the financial performance of banks: Multiple Indicator, Multiple Cause (MIMIC) Variable model. We also consider other existing methodologies in the literature for estimation of bank performance. The result shows that the influence of funds in...

The state of Tamil Nadu, located in South India, has been identified as a state with gender equality as is evident from a balanced sex ratio, higher age of marriage of women, lower fertility rates and higher female literacy. Using district level and village/town level data from Census 2001, we...