International Advances in Economic Research articles from August 2006

International Advances in Economic Research archives from August 2006

Central bank independence and the cost of disinflation: why the wage contracts length matters?
August 1, 2006... Abstract Recent empirical contributions demonstrate that countries with less independent central banks enjoy lower output losses during disinflationary cycles. To explain these somewhat surprising empirical findings, some authors suggest...

Consumption, wealth, and indebtedness in the context of uncertainty: the consumption function meets Portfolio theory.
August 1, 2006... Abstract The objective of this paper is to provide a sound theoretical framework for the empirical analysis of consumer indebtedness, by integrating Portfolio theory with the Life-Cycle hypothesis (LCH) model of consumption. Modern...

Risk diversification on the Polish capital market.
August 1, 2006... Abstract The basics of portfolio management theory and methods of efficient selection of assets and their financing have been created by Markowitz and Sharpe. They propose that risk diversification consists, generally speaking, of the...

The effect of annual earnings announcements on the Chinese stock markets.
August 1, 2006... Abstract This paper examines the annual earnings announcement effect of the stock markets in China. The investigation is based on events analysis and carried out by modeling the daily changes of stock returns using the M-EGARCH approach,...

Detecting some dynamic properties of the euro/dollar exchange rate.
August 1, 2006... Abstract Financial prices and returns have been the subject of empirical and theoretical analysis for many years, and their dynamic properties and other characteristics are still of interest. Many different tools have been applied to...

Have employment relationships in the United States become less stable?
August 1, 2006... Abstract: There has been considerable debate as to whether job stability has declined in the United States. This paper uses data from the Survey of Income and Program Participation (SIPP) to examine the incidence of labor market turnover...

Evolution of female labor force participation in the United States: 1967 to 2003.
August 1, 2006... Abstract This paper describes the changes in the employment choices of prime working-age women from 1967 to 2003. A neoclassical labor market participation model is presented and applied to data from the March Current Population Surveys...

Aging and savings in Korea: a time-series approach.
August 1, 2006... Abstract Thanks to numerous empirical research studies, a general consensus has been reached on the effects of an aging population on the economy, particularly in terms of economic growth and savings. However, most of the previous research...

A further analysis of determinants of health insurance coverage.
August 1, 2006... Abstract This study uses state-level data to identify key factors influencing geographic differentials in the percentage of the population without health insurance coverage, with particular emphasis placed on the impact of the percentage...

Short-run crude oil price and surplus production capacity.
August 1, 2006... Abstract This paper shows the effect that surplus crude oil production capacity has on short-term crude oil prices. A simple model using Organization for Economic Co-operation and Development (OECD) industrial inventories and Organization...

Rent seeking behavior in transition countries: the case of Romania.
August 1, 2006... Abstract This paper points out, in the changing institutional setting of transition in Romania, Some relevant factors influencing economic actors to behave in a way that pushes them to devote resources to unproductive goals, rather than to...

Portugal-EU convergence Revisited: evidence for the period 1960-2003.(European Union)
August 1, 2006... Abstract This paper uses the stochastic approach to convergence to investigate whether real per capita GDP in Portugal has been converging to the EU15 average. The estimation accounts for conditional convergence, transitional dynamics and...

Estimating housing price: kriging the mean.(Research Notes)(Brief article)
August 1, 2006... The price of houses and its evolution in recent years is one of the issues that citizens and, of course, political and economic authorities are worried about. In most of the developed countries the mean price (per square meter) of houses in an...

Commodity price instability and debt-linking by developing countries.(Research Notes)(Brief article)
August 1, 2006... Most developing countries borrow in world capital markets. Typically this borrowing is denominated in one of the major currencies and requires periodic servicing. The foreign exchange required to meet the service obligation is often dependent...

Product lifetime: a determinant of entry decision by multinational firms.(Brief article)
August 1, 2006... Existing literature on the role of intellectual property rights (IPR) protection has painted an ambiguous picture about the size of the effects of stronger IPR on the choice of the multinational firm's mode of entry into foreign market. Some...

The economic impact of NAFTA: a case study of Alabama.(Research Notes)(North American Free Trade Agreement)(Brief article)
August 1, 2006... The results of this study demonstrate that free trade under NAFTA has had a positive impact on the economy of the state of Alabama, in particular upon export oriented industries and net employment levels. Data listing the dollar volume of...

On human capital characters of the party and government leaders.(Research Notes)(Brief article)
August 1, 2006... In the era of knowledge-based economy, human capital has become the primary resource in our society. The party and government leaders are key human capital in economic development. However, what is the value of the party and government leaders...

Negative synergy: a macro perspective for environmental issues.(Brief article)
August 1, 2006... Synergistic conditions result in situations where the whole is greater than the sum of its parts. The corollary, negative synergy, exists whenever the reverse is true: the whole is less than the sum of its parts. Research here examines one such...

Positive definiteness of multivariate densities based on Hermite polynomials.(Research Notes)(Brief article)
August 1, 2006... This note proposes multivariate positive definite densities based on Gram-Charlier and the Edgeworth Expansions (GCEE) capable of capturing the joint behavior of financial variables. The GCEE were brought into econometrics by Sargan...

Analysis of Spanish savings at a regional level: an empirical appraisal.(Research Notes)(Brief article)
August 1, 2006... This paper presents some empirical evidence on the relationship between Spanish savings components at a regional level. We analyze the substitution effect on public and private sector savings, and the consolidation effect on the private sector...

Harrod-Domar growth and the production possibility curve.(Research Notes)(Brief article)
August 1, 2006... The Harrod-Domar theory of economic growth was developed in 1947 after Keynes' General Theory. The main contribution of this theory is the recognition that investment has two sides, a demand side (the Keynesian view) and a supply side (the...

Unstalling development in challenged countries.(Brief article)
August 1, 2006... Problems of poverty and poor people are ubiquitous, manifold, and viciously interactive, with no common reason except miseducation in all its branches. Poverty correlates with producing just enough for elites, but not 'enough and as good' [John...

Market deterioration versus World Trade opportunities in East Africa.(Research Notes)(Brief article)
August 1, 2006... In spite of recent magnanimous proposals by international politicians to cancel trade subsidies in western countries, increase aid packages from Great Britain to African nation-states, and erase or reschedule the Third World debt burden to the...

Oil prices, financial markets, and global central banking.(Research Notes)(Brief article)
August 1, 2006... This paper assesses and estimates the direct and indirect effects of oil price shocks on the real economic activity and inflation. The overall purpose is to clearly exemplify the dilemma monetary authorities face when oil price shocks take...

Are the most profitable U.S. companies also the best investments?(Brief article)
August 1, 2006... This study considers the annual Fortune magazine 2004 list of the 50 most profitable firms in the U.S. and addresses the issue of whether or not these outstanding earners were also good investments. A series of metrics suggest that, on the...

Developments in demographics in selected Caribbean countries.(Research Notes)(Brief article)
August 1, 2006... This paper examines demographic transitions in selected Caribbean countries and considers the difficult challenges faced by developing countries. In the 21st century, the global population will undergo a major demographic transition. Two...

The rapid economic convergence phenomenon.(Research Notes)(Brief article)
August 1, 2006... The global economic convergence phenomenon refers to the process of catching up by the less developed countries (LDCs) with the rich countries. Currently a large variance exists in the per capita GDP of nations ranging from less than $500/year...