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Convergence in other words, with the closing of the gap between rich and poor economies, the large number of possible outcomes that may arise in the economy represents only one. While the countries in the middle income group are close to the rich, the poor countries are left behind. On the other...
Persistent link: https://www.econbiz.de/10011788819
Drawing on the theoretical and empirical evidence that private information risk is priced in the expected returns of equities, we hypothesize that information risk premium is an important component of the risk premium that leads to the violation of uncovered interest rate parity (UIRP). Using an...
Persistent link: https://www.econbiz.de/10009440723
The forward premium anomaly refers to the widespread empirical finding that the slope coefficient in the regression of the change in the logarithm of the spot exchange rate on theforward premium is invariably less than unity, and often negative. This “anomaly” impliesthe apparent...
Persistent link: https://www.econbiz.de/10009475590
The inability to effectively hedge against unfavourable exchange rate movements, using thecurrent forward exchange rate as the only guideline, is a key inhibiting factor of internationaltrade. Market participants use the current forward exchange rate quoted in the market to makedecisions...
Persistent link: https://www.econbiz.de/10009455974
-order selection criteria (both information theoretic based and bootstrap-based). Also, we show that for some models the performance of … the bootstrap-based criterion improves significantly by using the proposed partial-model selection searching method. Index … Terms— Model order estimation, model selection, information theoretic criteria, bootstrap 1. INTRODUCTION Several model …
Persistent link: https://www.econbiz.de/10009438286
the classical paradigm, by investigating the best way to estimate bootstrap confidence limits on recreational harvest and …
Persistent link: https://www.econbiz.de/10009438291
estimator (CME), the bootstrap and the more recently proposed hook-and-loop resampling based model selection. The advantages and …
Persistent link: https://www.econbiz.de/10009438332
for testing the existence of cointegrating relationships using the parametric bootstrap. In these procedures, ARFIMA …, including the F goodness-of-fit statistic, the Durbin–Watson statistic and estimates of the residual d. The bootstrap … not in general asymptotically pivotal, but implemented by the bootstrap, are shown to be consistent against alternatives …
Persistent link: https://www.econbiz.de/10009440950
reasonable power when the critical values are obtained via a parametric bootstrap. …
Persistent link: https://www.econbiz.de/10009442280
One of the most enduring problems in cross-section or panel data models is heterogeneity among individual observations. Different approaches have been proposed to deal with this issue, but threshold regression models offer intuitively appealing econometric methods to account for heterogeneity....
Persistent link: https://www.econbiz.de/10009444965