Previous studies commonly use a linear framework to investigate the long-run equilibrium relationship between the housing and stock markets. The linear approaches may not be appropriate if adjustments from disequilibrium are asymmetric in both markets. Nonlinear adjustments are likely to be...

This paper uses the stock performance of construction companies in Taiwan to test whether there are bubbles. The panel data tests are employed to find whether the prices of construction company stocks reflect fundamental indicators and to detect the bubble-like behavior of the stock prices. A...

In this study, we use stock index data of various industries in Taiwan from 2001 to 2010 to estimate the exchange rate exposures of these industries under various data frequencies (daily, monthly, and quarterly). We add the effect of hot money on exchange rate exposures and find that significant...

Mixed results for unemployment dynamics are reported in many studies using linear or non-linear unit root tests. A possible explanation is that the literature focuses on the average behavior of unemployment and assumes that the speed of adjustment towards its long-run equilibrium is constant,...

In this paper, we intend to develop a new unit root testing procedure. The novelty of this methodology includes (1) accommodating possible trend breaks of unknown number, unknown dates, and unknown form by employing the Fourier form without directly estimating such breaks; (2) considering...

This study examines whether mean reversion in REIT prices presents an asymmetric behavior across various quantiles. Distinguished from previous literature that applied the traditional linear unit-root test, a state-of-the-art quantile unit-root test is employed to identify financial asset...

This paper applies the regression quantile approach developed by Koenker and Xiao (2004) to investigate the dynamic behavior of inflation in 12 OECD countries. By analyzing the behavior in a wide range of quantiles, this method allows us to quantify the influence of various sizes of shocks that...

An impervious surface cover is continuously spreading over the Wu-Tu upstream watershed due to the concentrated population and raised economical demands, while that area also frequently suffers from heavy storms or typhoons during the summer season. The increased flood volume due to this...

This study mainly explores effects of urbanization factors on hydrograph parameters. Urbanization impacts of the developing watershed are evaluated based on rainfall–runoff simulations. A total of 51 rainfall–runoff events occurred from 1966 to 2002. Forty of these were calibrated, and...