The San Vicente volcano in central El Salvador has a recurring and destructive pattern of landslides and debris flows occurring on the northern slopes of the volcano, and in recent memory, there have been at least seven major destructive debris flows. There has been no known attempt to study the...

Using a number of alternative approaches, Sichel (1994) demonstrated evidence supporting the notion that the US business cycle is best characterized as having three distinct phases, viz. contraction, followed by rapid expansion during the early stages of the recovery phase, followed by a period...

In the midst of the current financial crisis the economics profession has seen a monumental resurrection of Keynesian ideas. The debate, which Keynes started back in the 1930s, is being picked up again, not where it left off, but in exactly the same place it started. While Keynesian theories...

The economics profession not only failed to predict the recent financial crisis, but has been struggling in its aftermath to reach a consensus on the cause(s) of the crisis. While competing narratives are being offered and evaluated, the narrow scope of the debate on strictly technical aspects...

We analyse the puzzling behavior of the volatility of individual stock returns around the turn of the Millennium. There has been much academic interest in this topic, but no convincing explanation has arisen. Our goal is to pull together the many competing explanations currently proposed in the...

Durland and McCurdy [Durland, J.M., McCurdy, T.H., 1994. Duration-dependent transitions in a Markov model of US GNP growth. Journal of Business and Economic Statistics 12, 279?288] investigated the issue of duration dependence in US business cycle phases using a Markov regime-switching approach,...

We study the ability of traditional diagnostic tests and LM and CUSUM structural break tests to detect a range of different types of breaks in GARCH models. We find that Wooldridge's (1990) robust LM tests for autocorrelation and ARCH have no power to detect structural breaks in GARCH models....

Indigenous families experience substantial and multiple forms of economic burden arising from the size and structure of their families and households. Indigenous households are more likely to have more than one family in residence than other Australian households and are more likely to be...