The unit root test with structural break developed by Perron and Rodriguez are used to study the purchasing power parity (PPP) in the spirit of Balassa-Samuelson in Australia for the period January 1977 to April 2004. The results indicate that there is a break in February 1985 which coincides...

This paper proposes new bridge equations for the short-term French GDP forecasting. This tool allows to nowcast the quarterly GDP growth in France for the current quarter, based on the monthly business surveys in the industrial and services sectors. We use an automatic model selection procedure...

This study examines the random walk behavior of major Euro exchange rates. The hypothesis is tested with new variance ratio tests based on power transformation and multiple ranks from daily and weekly data. We find that Euro exchange rates for the major trading countries follow the random walk...

In this paper, we examine the large shocks due to major economic or financial events that affected U.S. macroeconomic time series on the period 1860-1988, using outlier methodology. We show that most of these shocks have a temporary effect, showing that the U.S. macroeconomic time series...

This study examines the random walk hypothesis for the crude oil markets, using daily data over the period 1982-2008. The weak-form efficient market hypothesis for two crude oil markets (UK Brent and US West Texas Intermediate) is tested with non-parametric variance ratio tests developed by...