This paper attempts to examine the convergence hypothesis of health care expenditure per capita of 14 European Union (EU) countries during the 1975–2008 period by applying the Cerrato et al., (2009) nonlinear panel unit root test. Although the conventional linear panel unit root tests reject...

This article investigates regional income convergence in Russia during 2000--2008. We test the hypothesis in which income divergence across regions of the country should give place to income convergence as the country moves toward free market economy with strong market institutions. The study...

This paper analyzes the role of commodities in the process of strategic asset allocation, with an attempt of computing the weight of commodities relative to traditional assets in a multi-period portfolio choice problem and understanding the economic interpretations to its importance. We find...

This article investigates regional income convergence in Russia during 2000--2008. We test the hypothesis in which income divergence across regions of the country should give place to income convergence as the country moves toward free market economy with strong market institutions. The study...

This paper explores price regulation and relative price convergence in the Canadian retail gasoline market. We use monthly data (2000–2010) on retail gasoline prices in 60 Canadian cities to investigate (i) whether the retail gasoline market in Canada has experienced a relative price...

This paper examines the impact of international soccer matches on the Turkish stock market using firm level and sorted portfolio data, i.e. microeconomic evidence. Applying the Edmans et al. (2007) estimation method, we find a significant negative loss effect. However, once using panel data...