Credit rationing in the presence of asset inequality affects production and trade pattern in this paper, but not in the conventional way. A Ricardian general equilibrium framework with heterogeneous levels of asset ownership is developed to show that more equal asset distribution may contract...

Traditional gravity models posit an inverse relationship between geographical distance and bilateral trade due to increased transportation costs. However, recent literature suggests that bilateral service trade may increase between two countries located at an appropriate geographical distance....

The flourishing of IT-sector and IT-enabled services has led to emergence of different activities by leaps and bounds thanks to proliferation of Virtual plaform-based transactions, and E- commerce. However, massive layoffs started in 2022, as all tech giants encountered revenue declines amidst...

We propose a simultaneous equation system with GARCH errors to model the contemporaneous relations among Asian and American stock markets. On the estimated residuals, we evaluate the correlation matrix over rolling windows and introduce a correlation matrix distance, which allows both a...