This paper empirically tests the Kumara Swamy Theorem of Inflationary Gap for Canada over the period 1997-2011 and compares the results with Lazaridis and Livanis (2010) for the Greek and Cypriot economies. While this paper finds favorable results in the direction of the hypothesis, it...

This paper empirically tests the Kumara Swamy Theorem of the Inflationary Gap for the 19 countries that are included in G-20 designation over the period 1999-2012. Data were obtained from the World Bank's World Development Indicators database for each country's Money Supply, Gross National...

This paper empirically tests the Kumara Swamy Theorem of the Inflationary Gap for the U.S.A, Canada and Mexico, the three countries that constitute the North American Free Trade Agreement (NAFTA), over the period 1997-2011. The study obtained data from the World Bank's World Development...

Empirical modeling of dividends has been dominated by Lintner (1956). However, Lintner's model suffers from the logical paradox that if companies have target payout ratios then in the steady state the companies will have reached those target payout ratios. Moreover as demonstrated by Bond and...

Empirical modeling of dividends has been dominated by Lintner (1956). However, Lintner's model suffers from the logical paradox that if companies have target payout ratios then in the steady state the companies will have reached those target payout ratios. Moreover as demon-strated by Bond and...

We differentiate among some of the contending hypotheses about ex-dividend day pricing by studying share price behavior in Canadian markets around the ex-dividend day during the period 1977-2000. Over this time, the tax regime switched from favoring capital gains to favoring dividends, and in...

This study develops the Regime Dependent Generalized Auto Regressive Conditional Heteroskedasticity (RD-GARCH) model and applies it to a daily index of returns on U.S. equities covering the period 1926 to 2000. The RD-GARCH model is different from previous models from the ARCH family in that it...