Previous studies [e.g., Hamori, S., 2000. Volatility of real GDP: some evidence from the United States, the United Kingdom and Japan. Japan and the World Economy 12, 143-152; Ho, K.Y., Tsui, A.K.C., 2003. Asymmetric volatility of real GDP: some evidence from Canada, Japan, the United Kingdom and...

Exchange rate movements affect exports in two ways -- its depreciation and its variability (risk). A depreciation raises exports, but the associated exchange rate risk could offset that positive effect. The present paper investigates the net effect for eight Asian countries using a dynamic...

This paper examines Korean data (1994-2001) to determine if foreign banks behave differently than domestic banks and if that behavior provides a stabilizing influence on the Korean banking system and economy. Moreover, this paper also considers the effect, if any, of the Asian financial crisis...

A small but growing body of literature searches for evidence of non-Keynesian effects of fiscal contractions. That is, some evidence exists that large fiscal contractions stimulate short-run economic activity. This article continues that research effort by systematically examining the effects...