It is a well-known stylized fact that the distributions of financial asset returns are non-normal and fat-tailed. In this study, we explore whether this stylized fact also applies to the log changes in house prices. Using house price indices data for 16 Organization for Economic Cooperation and...

This article employs the currency invariant index due to Hovanov et al. (2004) to construct an optimal or stable common G-3 currency basket across different groups of countries in East Asia. Calculated optimal weights show a larger weight for the US dollar but a nonnegligible role for the...