Purchasing power parity hypothesis is viewed as one of the central doctrines in international economics. The hypothesis states an equilibrium condition equating the nominal exchange rate between two national currencies with the relative price of an identical basket of traded goods in each...

Energy is an indispensable input for economic activity. Although capital and labor have widely been used as the production factors of many countries production function, but there is little body of literatures which has used the energy as a production factor in Iran. To the importance of energy...

The implications of the efficient market hypothesis are important in assessing public policy issues. This paper attempts to examine the weak-form efficiency of the DAX stock market. Five randomly chosen companies and different sub samples are used to confirm the results. The results show that...

One of the central concerns in Middle East and the North of Africa (MENA) has been the reduction of poverty and inequality so prevalent in the region. Theoretical predictions on the finance-inequality nexus are inconclusive and mixed. Greenwood and Jovanovic (1990) propose an inverted U-shaped...