This study re-evaluated Okun's law by applying breakpoint analysis; concerning this, the study analyzed six models including the first differenced, modified, and gap models. Empirical evidence reveals that models without breakpoints support the proposition of the conventional Okun's law, even...

Even though Factor Price Equalization (FPE) provides significant implications in international trade, it tends to not be supported fully by empirical evidence. The holding of the FPE with non-stationarity of time series data under newly arranged international environment was tested by utilizing...

This study uses market variables, such as the rates of foreign exchange, interest and inflation, to determine if a market-led monetary integration in the ASEAN+3 countries is possible. Following Batchelor and Peel (1998), rationality is revealed in the presence of an asymmetric Linex loss...

The role of psychological impact is examined by investigating the determination of exchange rates, especially the U.S. Dollar. It has been applied to the Korean economic crisis which occurred between January 1997 and June 1999. The basic idea is that psychological information can be used in...