In this paper Sato’s two-level CES production function has been estimated by nonlinear regression carried out through five different methods of optimization, namely, the Hooke-Jeeves Pattern Moves (HJPM), the Hooke-Jeeves-Quasi-Newton (HJQN), the Rosenbrock-Quasi-Newton (RQN), the Differential...

This paper deals with testing a time series with a structural break in its mean for a unit root when the break date is known. A nonlinear (with respect to coefficients) test equation is used, providing asymptotically efficient estimates. Finite-sample and quasi-asymptotic empirical distributions...

This paper examines if uncovered interest rate parity condition holds for Turkey. In this paper, an empirical analysis is provided for the dates between December 2001 and June 2007 by using monthly data for Turkey and the U.S. Main finding is that UIP does not hold for Turkey. In addition to...

Using nonlinear testing procedures relevant to the recent literature, this study provides evidence of nonlinear adjustment of nominal exchange rate towards monetary fundamentals in the context of ASEAN-5 countries. While it supports earlier findings supportive of monetary exchange rate model in...

The present study focuses on the cointegration between Export and Gross Domestic Product and its components at current and constant prices. Time series data for Export and Gross Domestic Product and its components has been taken for the period 1950-51 to 2001-02. In the long run export and GDP...

The purpose of this paper is to investigate the relationship between macroeconomic parameters like Exchange rate and foreign institutional investment with stock returns in India, in particular at National Stock Exchange. I find that both stock returns and exchange rate are integrated of order...

This study examines that out of monetary shocks (ΔM2) and real shocks in share prices (ΔYt-k), which one or both really explain share prices of Karachi stock exchange 100 index. The time series econometrics is used to investigate the data for the monthly period of January 1991 to January 2011...

The study seeks to investigate empirically the direction and shape of causality among trade openness, investment and economic growth using data for Bangladesh during the period 1980-2006. Although in most cases, statistically reliable evidence of cointegration is sufficient to testify the...

A considerable body of economic literature shows the adverse economic impacts of oil-price shocks for the developed economies. However, there has been a lack of empirical study of this kind on China and other developing countries. This paper attempts to fill this gap by answering how and to what...

The demand for money is a critical component in the formulation of and implementation of monetary policy. A well-defined and stable money demand function is a necessary condition for monetary policy to have predictable effect on the macroeconomic variables. This paper applies the advanced...