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We study the behavior of U.S. markets both before and after U.S. Federal OpenMarket Committee (FOMC) meetings, and show that the announcement of a U.S. Federal Reserve rate change causes a financial...
In this article, we investigate whether exchange rate risk is priced. We use a multivariate GARCH-in-Mean specification and test alternative conditional international CAPM versions. Our results suppor...
We present a new approach to understanding credit relationships between commercial banks and quoted firms, and with this approach examine the temporal change in the structure of the Japanese credit ne...
In finance, one usually deals not with prices but with growth rates $R$, defined as the difference in logarithm between two consecutive prices. Here we consider not the trading volume, but rather the ...
The paper focuses on the problematic issues of tourism, namely on the area of relationships among travel and tourist agencies and their clients. It analyses the current situation and defines key probl...
“中国经济研讨会”第九讲 题目:Endowment Structure and Structural Change 时间:1月3日(周三)19:00—21:30 地点:万众楼大教室 主讲人:徐朝阳 博士研究生 (研讨论文见附件) “中国经济研讨会”简介: “中国经济研讨会”是中国经济研究中心从2006年10月开始举办的一项常规性学术活动,旨在为校内外从事中国经济及其相关领域研究的青年...
In 1940 Schumpeter wrote a paper entitled: “The Meaning of Rationality in the Social Sciences” , which was intended to on e of the meetings of a seminar including Talcott Parsons, Wassilly Léontief,...
By employing an analytical framework based on institutional economics, this paper intends to investigate the rural urban income gap and its critical points for change. The level of rural urban income ...
We present Monte Carlo simulation experiments to investigate the finite sample properties of structural change tests in cointegrated relationships. These tests are computed using three alternative eff...
Between 1928 and 1960 U.S. cotton production witnessed a revolution with average yields increasing roughly threefold. In addition, the average staple length of the U.S. crop increased significantly, r...
The paper emphasises two flaws in mainstream economics: the failure to understand human behaviour and the belittling of transaction costs. By stressing the role of knowledge, institutions and path dep...

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