Following the work of Chen, Roll, and Ross (Journal of Business, 59, 383-403, 1986), there has been considerable work examining the influence of macroeconomic state variables on the excess returns of REITs. While most of the previous research has focused on the examination of equity REITs, this...

This paper tests the expectations-augmented Phillips-curve hypothesis for the 50 states in the US. Unlike previous work both adaptive and rational expectations are incorporated in the modeling of the Phillips-curve relationship. Second, the role of relative regional wages are taken into account....

This paper presents preliminary results about how close to their offensive potential teams in the National Football League (NFL) play. Our study extends the work of previous researchers in several ways. First, we are the first to investigate the efficiency of professional football teams....