Cointegration and vector autoregression are used to test the 'Tax-and-Spend', 'Spend-and-Tax', and 'Fiscal Synchronization' for ten countries using annual time-series data over the period 1951 to 1996. Three of them are part of the newly industrialized countries of Asia (South Korea, Taiwan, and...

Following Mann's (National Tax Journal, 33, 189-201, 1980) study, five different versions of Wagner's law are empirically examined using annual time-series data on ten countries over the period 1951 to 1996. Included are three of the emerging industrialized countries of Asia: South Korea,...

This study applies a stationary test with a Fourier function, proposed by Becker et al. (2006), to test the validity of long-run purchasing power parity (PPP) in fifteen Latin American countries over the period of December 1994 to February 2010. The empirical results from the univariate unit...

The effect of organizational learning, which results in continuous improvement of organizational performance over time, has been widely discussed. The cumulative learning effect may form as a source of intellectual capital. Thus far, the static data envelopment analysis (DEA) model has not been...

We propose a corporate default rating process for the Taiwan Stock Market which incorporates financial ratios, corporate governance, macroeconomic variables and financial media reports. Multi-measurements of the ‘distress intensity of default-corpus’ (DIDC) using linguistic analysis are...

Exchange rate movements affect exports through depreciation (appreciation) and risk. Depreciation may raise exports but exchange rate risk could offset the positive effect. This paper investigates the net effect for eight Asian countries using a dynamic conditional correlation bivariate GARCH-M...

We introduce M-estimators for location and concentration parameters of von Mises-Fisher distributions on unit spheres. These include the directional mean, normalized spatial median, spherical median, and the mle of the concentration parameter. We find the influence functions and asymptotic...