This research attempts to distinguish between two competing economic explanations of mean reversion in stock returns: 1) mispricing in irrational markets versus 2) predictable time variation in security risk premia. Excess portfolio returns are decomposed into 'explained' and 'unexplained'...

We investigate the predictive power of the Efficient Market Hypothesis (EMH) and rational expectations (RE) during periods of economic shocks – specifically COVID-19, captured by the response of the CBOE’s volatility index (VIX) to the newly compiled weekly economic index (WEI). We extend...

In view of rising inequality in fast growing Asian developing countries, it is important to study the relationship between economic growth and income inequity. We develop a simple model to establish that economic growth and inequality can bear a complex and non-linear relationship if policy...

The process of globalisation has its own dynamics and several serious flaws that have resulted in significant economic, political and social imbalances in the global political economy. Peace Science: Theory and Cases examines the implications of these imbalances for achieving lasting global...