Forecasting exchange rate movements is challenging, as they exhibit high volatility, complexity and noise. Most traditional models cannot forecast exchange rates, with significantly higher accuracy, than a random walk model. In this study, a non-linear model called artificial neural network...

Christopher Sims is one of the leaders in time-series econometrics and empirical macroeconomics and is well known for introducing the VAR approach to econometrics and macroeconomic modelling. Sims' main contribution to empirical macroeconomics was to show how macro-econometric modeling should be...

This paper addresses two important topics in recent economic historiography: globalization and the great divergence. We first present a search for statistical evidence in the Far East of an “Early Globalization” comparable to the one ongoing in the West since the mid-eighteenth century....

There has been a well-known relationship between macro financial fundamentals and oil prices, yet there is also ample evidence that this relationship weakens during some periods. In this paper, we investigated whether the relationship between oil and macro financial fundamentals vary depending...

The paper is an investigation concerning whether the deviations of currencies from their fundamental values affects the relationship between economic fundamentals and exchange rates. To this end, a version of the sticky price monetary exchange rate model, which connects the exchange rates to...

This paper explores the main macroeconomic factors, in both host and home countries that affect workers’ remittances. Several macroeconomic variables are taken into account in a cointegration analysis of the long-run relationship among remittances and their macroeconomic determinants as well...

This paper examines the relationship between economic growth and carbon dioxide emissions in Italy considering the developments in a 150-year time span. Using several statistical techniques, we find that GDP growth and carbon dioxide emissions are strongly interrelated, with a dramatic change of...

In this paper, the effects of G-7 countries’ stock market indices, DAX (Germany), CAC 40 (France), FTSE (United Kingdom), S&P TSX Composite (Canada), NIKKEI 225 (Japan), S&P 500 (USA), DOW JONES (USA), NASDAQ (USA), and MIBTEL (Italy), on the stock market of Turkey, Istanbul Stock Exchange...