The April 21, 2005 issue of the LONDON REVIEW OF BOOKS carried a lead article titled ‘Blood for Oil?’ The paper is attributed to a group of writers and activists – Iain Boal, T.J. Clark, Joseph Matthews and Michael Watts – who identify themselves by the collective name ‘Retort.’ In...

In this essay, we test the presence of the contagion phenomenon during the US sub-prime crisis. We adopt the test of adjusted correlation coefficients between markets and propose a new procedure which involves testing the non-linearity of the propagation mechanisms shocks, estimated with a model...

Quantitative Easing (QE) has been widely used by major central banks in the recent economic and financial crisis that started in 2007. However, the Bank of Japan (BoJ) already applied QE between 2001 and 2006. This paper tries to examine the differences between BoJ-type QE and QE applied by the...

The aim of this paper is to investigate the behaviour of international equity returns and correlations using the discrete-time Markov-switching model and the impact of this behaviour on international portfolio choices. We take the perspective of a US-based global investor who considers...

Global pharmaceutical pricing strategies have been debated in published literature; however, these debates have not accounted for the differences in elasticity of demand between the public, private and cash paying markets. A mathematical model is presented that explores several plausible...

This paper tests whether intra-company transfers, viewed as distinct from ordinary sales transactions by policy makers and tax regulators, are associated with share price. When a multinational firm (MNC) transfers its intermediate goods between the parent company and its foreign subsidiary, its...

How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In...