This paper examines house price diffusion across metropolitan areas in the United States. We develop a generalization of the Hamilton and Owyang (2012) Markov-switching model, where we incorporate direct regional spillovers using a spatial weighting matrix. The Markov-switching framework allows...

With the trade normalization process between India and Pakistan gathering momentum since November 2011, new opportunities for enhancing bilateral trade have opened between the two countries. This study estimates the trade potential between India and Pakistan, and examines how this potential can...

The creation of the economic and monetary community of central Africa (CEMAC) in 1994 as the successor to the economic and customs union of central Africa (UDEAC) engendered much hope in the sub-regional integration process of the Central African States, a region which had faced many challenges...