This paper studies the causes, mechanisms and consequences of decreasing firm value and welfare loss in an economy under a fixed exchange rate regime when there is an unexpected appreciation in domestic currency. We also study the possible economic crisis caused by the exchange rate shock. We...

We study the exogeneity of the variable {Zn} in the nonlinear model Xn+1 = tjJ(Xn)+'ljJ(Zn)+En, as weil as sufficient conditions of Markov property for {Xn }, and ergodicity and u-mixing property for {Xn }.

In this paper, the strong consistency of the multivariate internal nonparametric estimator is investigated under strong mixing dependence assumption. This estimator is particularly easy to use when we model the regression function by additive nonparametric structure. The pointwise strong...