This paper evaluates persistence in the performance of institutional equity managers. We build on recent work on conditional performance evaluation, using time-varying conditional expected returns and risk measures. We find evidence that the investment performance of pension fund managers...

There is little consensus and some degree of confusion over the meanings of the polarity and polarization concepts. An argument is advanced for viewing these phenomena as distinctly separate with polarity referring to the distribution of power among states and polarization referring to the...

This paper compares Galtung's theory of imperialism with the more complex global network views of Dominguez. Galtung's theory states that economic, political, military, and cultural transactions are vertically fused into a “feudal structure†such that the center nations dominate all...

Many explanations have been advanced for the apparent breakdown of monetary exchange-rate model s in the late 1970s. This paper shows that the initial empirical supp ort enjoyed by the models was an illusion created by the failure to a ccount for exchange-rate nonstationarity and the arbitrary...