This paper studies the economic significance of stock and bond return predictability in UK market over period February 1991 to May 2002, based on a real-time investment simulation with only publicly available information. We use ten macroeconomic and financial variables as the predicting...

This paper examines the pattern of interaction among Asian exchange rates, and how the pattern changed before and during/after the Asian financial crisis of 1997-98. The empirical tests are conducted using daily nominal exchanges rates based on the US dollar and the Japanese yen from several Far...

This paper is a contribution to the ongoing debate on the benefits and drawbacks of bank revenue diversification. Revenue diversification may benefit banks if diversified activities are inherently less risky and possess high returns, while it may hurt banks if diversified activities are more...