One of the interesting features of time series work on the effect of the minimum wage is that the problem of possible spurious regressions when data may be non-stationary has been largely ignored. It is shown that this is potentially a serious problem. It is found that although the teenage...

A simple hydrothermal growth process was developed to deposit conformal manganese oxide nanospheres with a diameter of 10 to 20 nm on mesoporous carbon paper. The coating of nanospheres increased the cyclic-voltammogramic response of carbon paper by a factor of 5 with a slight dependence on the...

In this paper we introduce a global factor-augmented error correction model to quantify the interaction of oil price with the global economy. Global factors are constructed for global oil price and global interest rate, money, real output and inflation over 1999-2012. The global factors are...

This paper examines the effect of economic policy uncertainty and its components on firm-level investment. It is found that economic policy uncertainty in interaction with firm-level uncertainty depresses firms’ investment decisions. When firms are in doubt about costs of doing business due to...

This paper investigates the influence of liquidity in the major developed and major developing economies on commodity prices. Liquidity is taken to be M2. A novel finding is that unanticipated increases in the BRIC countries’ liquidity is associated with significant and persistent increases in...

This paper examines the effect of the demand and supply shocks driving the global crude oil market on aggregate U.S. bond index real returns. A positive oil market-specific demand shock is associated with significant decreases in aggregate bond index real returns for 8 months following the...

There are marked differences in the effect of increases in monetary aggregates in China, Japan and the U.S. on Euro area economic and financial variables over 1999-2012. Increases in monetary aggregates in China are associated with significant increases in the world price of commodities and with...