We investigate bilateral trade flows across the EU-15 countries from 1962 to 2003 by different specifications of the gravity model. We augment the basic gravity model with population and exchange rate variables, and then include time-varying country fixed effects, to account for Anderson and van...

The class of conditionally heteroscedastic models known as 'augmented ARCH' encompasses most liear 'ARCH'-type models found in the literature and, in particular, two basic ARCH variants for autocorrelated series: Engle (1982) explains conditional variance by lagged errors, Weiss (1984) also by...

This article investigates the effects and the transmission of shocks between asymmetric neighboring countries. In particular, we investigate Austria and Germany which are highly integrated due to their common language and common membership of the European Monetary Union. Generalized impulse...

We apply Range Unit Root (RUR) tests to Organization for Economic Co-operation and Development (OECD) unemployment rates and compare the results to conventional tests. By simulations, we find that unemployment is represented adequately by a new nonlinear transformation of a serially correlated...