This paper explores the behavior of real commodity prices over a 50--year period. Attention is given to how the shifting means for various commodity prices have changed with a special emphasis on behavior since the mid 2000s. To identify structural changes in commodity prices, we estimate...

The evolving field of the economics of terrorism has been and continues to be the subject of much research. Professor Enders, in this authoritative collection, provides the reader with a selection of seminal articles which chart the development of this topic over the past four decades. Along...

We investigate the information contained in the London Interbank Offered Rate (LIBOR) and the U.S. Constant Maturity Treasury (CMT) term structure of interest rates and report three novel findings. First, we document that the information contained in term structures are significantly different...

This article proposes an extension to the Engle-Granger testing strategy by permitting asymmetry in the adjustment toward equilibrium in two different ways. We demonstrate that our test has good power and size properties over the Engle-Granger test when there are asymmetric departures from...

If the General Agreement on Trade and Tariffs reduces foreign trade barriers against U.S. farm exports, special interest groups in affected nations will seek other forms of protection. It would not be surprising if some of our trading partners used general macroeconomic policies to promote...

This paper quantifies the impact that terrorism has had on tourism since 1970. To accomplish this task, the authors estimate a forecasting equation for a country's (region's) share of tourism using an ARIMA model with a transfer function based on the time series of terrorist attacks in the...