Many models of exchange rate determination imply that movements in money supplies and demands should result in movements in exchange rates. Hence, if rational agents are attempting to forecast exchange rate movements, they should in the first instance forecast movements in the supplies of and...

This paper presents empirical examinations of three important aspects of stock returns: Gaussianity, linearity, and stationarity by applying time series tests based upon the higher-order spectra. If the stationary time series is Gaussian, the second order spectrum contains all the useful...

Recent studies contend that answers to questions in the Survey of Consumer Finances reveal whether or not households are credit constrained. In these studies, households are defined as constrained if they applied for credit unsuccessfully or were discouraged from applying by the prospect of...