The hedge fund represents a unique investment opportunity for the institutional and private investors in the diffusion-type financial systems. The main objective of this condensed article is to research the hedge fund’s optimal investment portfolio strategies selection in the global capital...

I present evidence that higher frequency measures of inflation expectations outperform lower frequency measures of inflation expectations in tests of accuracy, predictive power, and rationality. For decades, the academic literature has focused on three survey measures of expected inflation: the...

The paper compares one-period ahead forecasting performance of linear vector-autoregressive (VAR) models and single-equation Markov-switching (MS) models for two cases: when leading information is available and when it is not. The results show that single-equation MS models tend to perform...

This note discusses a pitfall of using the generalized impulse response function (GIRF) in vector autoregressive (VAR) models (Pesaran and Shin, 1998). The GIRF is general because it is invariant to the ordering of the variables in the VAR. The GIRF, in fact, is extreme because it yields a set...

The purpose of this study was to examine interrelationship and causal linkages between socioeconomic and environmental variables in OECD countries. To aid this study, a LISREL modelling tool was implemented. The findings of the study indicated that gross public debt increases with deterioration...

This paper examines how energy-output ratios in Fiji have responded to the energy crises and in particular if they have declined after the shocks. The expectation is that energy efficiency should improve after the oil shocks. For this purpose we used at first a few simpler procedures and then...

The main objective of this paper is to analyze the behavior of the term structure of the WTI futures market between 2002 and 2009, period known by a sustained price rise followed by a price slump and again by a new price rise. To achieve this goal, we use Principal Component Analysis (PCA) to...

In the past environmental management practices have been based on disparate analysis of the impacts of pollutants on selected components of ecosystems. However, holistic analysis of emission reduction strategies is necessary to justify that actions taken to protect the environment would not...

We consider a situation where the relatively ‘poor’ are concerned about their relative income status with respect to a relevant reference group. Such a concern is explicitly introduced in a utility function to study the consumption and saving behavior of the poor in terms of a static and...

The paper deals with the role of the isomorphism and homomorphism in the theory and practice of simulation. These concepts are considered as a methodological framework for models adequacy evaluation and for their suitability extent estimation to the study and improvement of economic systems,...