In this paper we show that the MSCI ACWI Metals and Mining Index has the ability to predict base metal prices. We use both in-sample and out-of-sample exercises to conduct such examination. The theoretical underpinning of these results relies on the present-value model for stock-price...

This paper utilizes Vector Auto Regression (VAR) models to analyze the interdependence among exchange rates of twelve Asian-Pacific nations, Australia, China, Indonesia, Japan, Malaysia, New Zealand, Philippines, South Korea, Singapore, Taiwan, Thailand, and Vietnam. The daily data span from...

The purpose of this paper is to estimate the demand for money in Malaysia over the 1980:1-1994:10 period using cointegration and error correction methodology. The analysis shows that money balance, income, exchange rate, price and interest rate are cointegrated. Thus, the long- run demand for...

This paper provides an overview of the evolution of macroeconomic thought from 1936, the year John Maynard Keynes published his general theory of employment, interest and money to the year 2010. It explores the reasons for the extension of the business cycle during the postwar period. The paper...

Una lección de la crisis financiera fue la sobre reacción de las políticas cambiarias en países de Sudamérica. Después del estallido de la crisis, gran parte de ellos tendieron a depreciar sus monedas, esperando enfrentar mejor los efectos negativos, para posteriormente apreciarlas hasta...

This paper analyzes the causes and implications of recent financial crises. Financial crises in general lead to changes in both theory and practice of economics. The paper takes an historical overview. The global consensus of economic theory during the 20th century is discussed. The paper...

This paper analyzes the dynamic interrelationships among the exchange rates of twelve countries in the Asian-Pacific region using Vector Auto regression Models. The exchange rates of the following countries are analyzed: Australia, China, Indonesia, Japan, Malaysia, New Zealand, Philippines,...

This paper utilizes Vector Auto Regression (VAR) models to analyze the interdependence among exchange rates of twelve Asian-Pacific nations, Australia, China, Indonesia, Japan, Malaysia, New Zealand, Philippines, South Korea, Singapore, Taiwan, Thailand, and Vietnam. The daily data span from...

This paper analyzes the causes and implications of recent financial crises. Financial crises in general lead to changes in both theory and practice of economics. The paper takes an historical overview. The global consensus of economic theory during the 20th century is discussed. The paper...

The modern system of centralized governance and hierarchical control of socio-economic relations is coming to an end – the society is transitioning to peer-to-peer model of socio-economic relations. The peer-to-peer model of socio-economic relations is the model of the mesh network. Such model...