This paper investigates whether the systematic asymmetric behaviour of the US unemployment rate can be explained by the stock market. We consider threshold models to capture the asymmetric relationship between quarterly US unemployment rate and Dow Jones Industrial Average (DJ) stock returns. We...

This paper investigates whether or not the LM techniques proposed to test the null hypothesis of linearity against GARCH, bilinear (BL) and Joint GARCH-BL alternatives separately, have desirable finite sample properties. The result of a Monte carlo simulation study show that their sizes are...

We re-analyse data used by Le and Miller (2005), where it is found that students from low socio-economic status (SES) backgrounds have lower university participation rates than those from higher SES backgrounds. We utilise the concept of eligibility to attend university - here defined by both...