The article investigated the convergence of real gross domestic product (GDP) per capita at the state level in Brazil during the 1985-1999 period. Departures across states were evaluated in terms of panel data unit root tests advanced by Im et al. (2003). The evidence indicated that one cannot...

The time series properties of mergers and acquisitions are investigated in the UK at sectoral level for the period 1971:1-1989:4. Two main sets of results emerge: (1) 1971:1-1989:4 the degree of persistence to shocks is uniformly low across sectors; (2) shocks are predominately aggregate. These...

The paper assesses long memory patterns in the Brazilian stock market index (Ibovespa) for sub-periods before and after the Real Stabilization Plan. Evidence favours the existence of short memory for both periods despite the so-called reforms the Brazilian economy went through in the 1990s and,...

The article investigates a distributional implication of Gibrat's Law (GL) in the context of English counties in the eleventh century, taking as reference population data from the Domesday Book. Tests for the log-normality of the size distribution (including specific assessments of the skewness...