This paper presents a critique of the traditional textbook representation of fiscal policy, and highlights the misleading policy implications perpetuated by this analysis. In particular, the conclusion that fiscal deficits are likely to be associated with higher interest rates is disputed, as is...

In this paper we investigate how Financial Soundness Indicators (FSI) responds to changing macroeconomic and institutional conditions. FSls are aggregate measures of the current financial health and soundness of financial institutions in a country including corporate and household...

A large body of the literature argues that the soundness of financial system is largely determined by the economic and institutional environment in which the financial system works. Drawing on this theoretical underpinning, research in this thesis models financial soundness indicators (FSIs)...

In a recent comment on my paper (Paul, 1992), Riese (1999) has tried to show that the value of my illfare index of unemployment based on the distribution of completed spells will be superior than that based on the distribution of interrupted spells. In this note, certain limitations of the...

Oil price shocks have a statistically significant impact on real stock returns contemporaneously and/or within the following month in the U.S. and 13 European countries over 1986:1-2005:12. Norway as an oil exporter shows a statistically significantly positive response of real stock returns to...

This paper investigates the impact of the population in the 40-64 age band on share prices, using an annual time series data set for the period 1965-2002, and the impact of the superannuation fund on share prices using quarterly time series data for the period 1988 Q1 to 2002 Q4. In accordance...

Log-linear modeling is a popular statistical tool for analysing a contingency table. This presentation focuses on an alternative approach to modeling ordinal categorical data. The technique, based on orthogonal polynomials, provides a much simpler method of model fitting than the conventional...

Log-linear modeling is a popular statistical tool for analysing a contingency table. This presentation focuses on an alternative approach to modeling ordinal categorical data. The technique, based on orthogonal polynomials, provides a much simpler method of model fitting than the conventional...

In pursuing sustainable competetive advantage, firms undertake a range of strategic initiatives such as innovation, customer relationship management, entering new markets overseas, and competetive actions within current marketplaces. Studies that examine these initiatives generally investigate...