Recent trends of globalization and financial market internationalization have exposed the vulnerability of many emerging financial markets to external shocks and spillover effects from regional crisis. It is believed that similar spillover effects were the root cause of the 1997 financial crisis...

In North Norway the dominant method of exchange for fresh and frozen fish at the ex-vessel level is by direct (contract) sale, whereby price is negotiated between fish processors and the fishermen. More recently, an auction for frozen fish has been introduced. In this paper we investigate the...

Grain prices have risen sharply since 2005 and 2006 affecting livestock markets by increasingfeed prices and leading to significant volatility shocks. The high price levels and magnitude ofsustained high volatilities has raised concerns for many sectors of the economy, in particularthose with...

This paper examines the twin deficits hypothesis in the ASEAN countries. The major findings of this paper are the following. (1) Long run relationships are detected between budget and current account deficits. (2) The Keynesian view fits well for Thailand since the causality runs from budget...

This paper uses variance decomposition modelling to explore how wheat revenuevolatility in Australia has changed spatially and temporally. The components ofrevenue variance are the variances and covariances of wheat prices, the area of wheatharvested and the yield of wheat. The key finding is...

We develop a new autoregressive conditional process to capture both the changes and the persistency of the intraday seasonal (U-shape) pattern of volatility in essay 1. Unlike other procedures, this approach allows for the intraday volatility pattern to change over time without the filtering...

This paper empirically examines the impact of oil price volatility on key macroeconomic indicators of Thailand. Following Andersen et al. [2004. Analytical evaluation of volatility forecasts. International Economic Review 45(4), 1079-1110], quarterly oil price volatility is measured by using the...

This paper investigates how explicit structural shocks that characterize the endogenous character of oil price changes affect stock-market returns in a sample of eight countries --- Australia, Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. For each country, the...

En períodos de tensión en los mercados financieros, recomposiciones en las carteras de renta fija pueden generarse por la preocupación no solo por el riesgo de crédito, sino también por el riesgo de liquidez. Usando información de bonos emitidos por Gobiernos y agencias públicas,...

Studies on the General Agreement on Tariffs and Trade (GATT) are abundant in the literature. But most researchers have examined GATT’s impact on economic activities with scant or no attention given to its impact on institutions such as market integration and efficiency. To the latter issues,...