This paper compares alternative models of time-varying macroeconomic volatility on the basis of the accuracy of point and density forecasts of macroeconomic variables. In this analysis, we consider both Bayesian autoregressive and Bayesian vector autoregressive models that incorporate some form...

Domestic and export demand of Guar Seed and its derivative Guar Gum has increased phenomenally due to its application in multi-billion dollar shale energy industry in the US. To examine the performance of Guar Seed futures market, its efficiency and price discovery is tested in the present study...

There is a profound gap between models of accounting conservatism and the proxies for conditional conservatism currently used by the empirical literature. Not one of the proxies employed by the empirical literature to date obtains from a rigorous definition of conditional conservatism. In...

This paper studies current account reversals in industrial countries across different exchange rate regimes. There are two major findings which have important implications for industrial economies with external imbalances: first, triggers of current account reversals differ between exchange rate...

The present article attempts to identify the causal nexus among real exchange rate (RER), its volatility and foreign direct investment (FDI) inflows in India using quarterly data from 1990:II to 2008:I. Generalized Auto Regressive Conditional Heteroscedasticity (GARCH) model is employed to...

В данной работе нами рассматриваются некоторые свойства различных производственных функций. Одним из ключевых моментов при построении эмпирических...

Market return predictability may be driven by time varying discount rates or changing beliefs of cash flow. We use analyst earnings forecast to separate cash flow and discount rate components of returns and distinguish the source of return predictability by a set of predictive variables commonly...

This article presents the results of an empirical analysis regarding the corporate demand for insurance. As several studies before tested the theoretical arguments for the corporate motivation to purchase insurance, this article provides the fist empirical analysis focussing on the insurance...

Unconventional monetary policy tools are based on the belief that there exists a zero-lower bound on interest rates. This paper argues, based on economic theory and the empirical evidence, that this belief is a myth and not a reality. It is shown that a negative default-free spot rate of...