We use the copula approach to study the structure of dependence between sell-side analysts' consensus recommendations and subsequent security returns, with a focus on asymmetric tail dependence. We match monthly vintages of I/B/E/S recommendations for the period January to December 2011 with...

This empirical note reformulates a model for testing the hypothesis that migration of the poor and welfare levels are bi-directionally related. After correcting for co-linearity in a previous model, the new model yields two-stage least squares estimates that affirm the hypothesis once again.

The present paper examine the nexus between road traffic accident (RTA) and some relevant variables in Saudi Arabia over the period 1971- 2012, using the autoregressive distributed lag ARDL model (Pesaran and Shin, 1999) for co-integration in Saudi Arabia, with the co-integration test. Results...

the paper outlines a plan to liberate all rich and poor nations form the debt burden, restructure the international monetary system and create the necessary conditions for sustainable global economic growth and developemt.

This paper examines the linkage among financial liberalization, economic growth and poverty reduction in Sub-Saharan African countries (SSA). The study applies the recent panel Co-integration and vector error correction mechanism to address the heterogeneity and cross-border interdependence over...

Considering Cobb-Douglas function in three variables as an explicit form of production function, in this paper an attempt has been made to maximize an output subject to a budget constraint, using Lagrange multipliers technique, as well as necessary and sufficient conditions for optimal value...

This paper introduces a theoretical model that allows the estimation of a household’s valuation of health risks from major storms. An endogenous risk framework is developed in which the household can employ ex-ante self-protection and ex-post mitigating activities and treatments strategies to...

Drawing upon a unique farm survey in 2003, I find that in rural China, Full-scale Land Reallocation (FLR) are more likely to follow egalitarian rule and Partial-scale Land Reallocation (PLR) take productivity of households into consideration. Econometric evidences shows two main results. First,...

The configuration of the cold war determines institutional quality. Countries pertaining to the block of the West display a negative link with bureaucratic development, lack of corruption, credibility of governments and others. Results are maintained even after controlling for regional and...

This paper investigates the Keynesian Relations and Education Expenditure in Saudi Arabia during the period (1970-2012) for real Oil GDP and Non Oil GDP. Keynesian Relations investigated that fundamental economic growth is validity to the education growth. In the previous tudies have been tested...