In present study, I explore the dynamics of the interday stock price reversals. Employing intraday price data on thirty stocks currently making up the Dow Jones Industrial Index, I document that stock returns in opening trading sessions tend to be higher following days with relatively low...

In present study, I explore intraday behavior of stock prices. In particular, I try to shed light on the relationship between the widely-documented U-shaped intraday pattern of stock returns (e.g., Wood et al. (1985), Jain and Joh (1988), Pagano et al. (2008)) and the well-known concept of stock...

In present study, I make an effort to shed light on the actual mechanism of autocorrelations in individual stocks' opening returns. I analyze intraday price data on thirty stocks currently making up the Dow Jones Industrial Index. Employing the sample average and the sample median of opening...

In present study, I analyze the actual mechanism of autocorrelations in individual stocks' opening returns. For Dow Jones Industrial Index constituents, I document that if the previous day's market and individual stock's opening returns are taken together to explain the stock's opening returns,...

This paper studies the linkage between structural coherence and economic growth. Structural coherence is defined as the degree that a country's industrial structure optimally reflects its factor endowment fundamentals. The paper found that at least for the overall capital, the shares of capital...

While universal health coverage (UHC) offers a powerful goal for a nation, all countries-irrespective of income are struggling with achieving or sustaining UHC. France is a high-income country where HC is in effect universal. Health-related costs are covered by a mix of mandatory social health...

The report provides the IMF's projections and estimates of Cape Verde on selected economic and financial indicators, 2001–05; social and demographic indicators, 2001–04; consumer prices; gross domestic product sources and uses of resources; gross domestic product by industry at current...

This Selected Issues paper on Australia highlights the IMF’s new Global Integrated Monetary and Fiscal Model (GIMF), which is used to examine the macroeconomic implications of alternative fiscal responses to higher revenue. Lower labor and capital income taxes, along with higher public...

This Selected Issues paper for the United States discusses the microeconomics of the country—household wealth and savings. Households’ consumption-saving decisions have an important bearing on the U.S. economic outlook. This paper demonstrates how households with consistently lower...

This 2007 Article IV Consultation highlights that Japan’s external position remains strong. Boosted by investment income, the current account surplus widened in 2006 to nearly 4 percent of Japan’s GDP, despite a shrinking trade balance. Financial outflows also picked up, reflecting...