This paper introduces the fractionally integrated Bi-parameter smooth transition autoregressive model (FI-BSTAR model) as an extension of BSTAR model proposed by Siliverstovs (2005) and the fractionally integrated STAR model (FI-STAR model) proposed by van Dijk et al. (2002). Our FI-BSTAR model...

The S-Curve hypothesis postulates that while the cross-correlation between the current exchange rate and future values of the trade balance could be positive, the same correlation between the current exchange rate and past values of the trade balance could be negative. In this paper we decompose...

We study asymmetric first-price auctions with n bidders. We expand the results of Fibich et al. (2002) for asymmetric first-price auctions to a general utility function. We show that for low type bidders, the equality of equilibrium bids with symmetric, uniform distribution bids holds for the...

We study an asymmetric all-pay auction with a general utility function. We show that high-type bidders in all-pay auction with lower density, are bidding more aggressively than bidders with higher density. This result is contradictory to the result in Parreiras and Rubinchik (2010) on aggressive...

Considering Cournot competition, this note shows that, if the firms differ in labor productivities, the equilibrium wage rates under a centralized labor union are not independent of the number of firms and product differentiation if the labor union charges a uniform wage rate. However, if the...

Considering Cournot competition, this note shows that, if the firms differ in labor productivities, the equilibrium wage rates under a centralized labor union are not independent of the number of firms and product differentiation if the labor union charges a uniform wage rate. However, if the...