We construct a non-linear time series model for the South Korean Won/British Pound exchange rate for the period 1 January 1997 to 30 September 1998. This was a period of great upheaval in the South Korean financial markets. We show that a variant of the GARCH class of models provides a good fit...

The purpose of this note is to show that a firm operating in perfectly competitive markets but facing costs of adjustment to its sole variable input (labour) may well prefer to operate in a region of the production function in which the output elasticity of labour is greater than unity (i.e....

The optimal rules for the allocation of advertising expenditure when that expenditure affects the demand function facing the firm have been derived for a variety of processes and are relatively well known. The purpose of this paper is to extend the analysis of advertising to include recruitment...

This paper examines the UK FT30 stock index during the Second World War period 1939-1945 for weak form efficiency, showing that there is substantial structure in the data, albeit in two distinct subsets. Fitting a GARCH (p, q) model to each data subset yields R -2 values of around 19%; clear...