Cet article présente une étude empirique relative aux dynamiques non-linéaires sur données à haute fréquence. Les séries de cotation utilisées sont celles du Dollar contre le Mark sur le marché londonien durant l'année 1994. Nous montrons que le caractère leptokurtique et asymétrique...

In recent years there is evidence in the literature that various time series like GNP or production may be nonlinear. In this paper the question is examined whether there are non-linearities in the net production index for the producing sector of the FRG. Three different non-linearity tests are...

The purpose of this paper is to investigate whether shocks to out- put and employment had permanent or transitory effects during the period from 1961 to 1990 in the Federal Republic of Germany. There are a lot of parametric and non-parametric approaches which can be used for data generating...

The aim of this paper is to examine common trends and common cycles in Belgian Sectoral output series. A multivariate technique proposed by Engle and Issler [1995] allows to deal with series which simultaneously contain common trends and common cycles. An application of their methodology for...

Within the context of a macroeconometric rationing model the importance of rationing for international trade flows is investigated. The model describes rationing barriers on domestic and foreign markets which lead to spillover effects on domestic imports and exports. The novelties of this study...

In this paper we empirically investigate a possible transmission of the European business cycle to Sub-Saharan Africa’s economies. This linkage may be of interest because the EMU is the main trading partner of African countries, and many of these countries use the euro as either the official...

This papers intends to relate more closely corporate governance, industry dynamics and firms performance. In this perspective, it focuses on the impact of applying the normative, best pratice, shareholder value model of corporate governance on industry dynamics and related performance measured...

This paper investigates the relationship between firms’ innovation practices and performance in Taiwan. Using a panel of 4000 firms, we examine the effects of importing technology (versus doing R&D) on Total Factor Porductivity (TFP) growth. The relationship between these two innovation...

Although previous work shows strong relationships between oil prices and economic activity, the empirical evidence on the impact of oil prices on stock market returns has been mixed. This article investigates the existence of long-term relationships between oil prices and stock market indices in...

In this paper, we study the implications of assuming different technologies for physical capital accumulation and consumption. More precisely, we assume that physical capital accumulation is relatively more energy-intensive than consumption. We conclude that this hypothesis, together with the...