In this paper we use the Brooks and Hinich cross-bicorrelation test in order to uncover nonlinear dependence periods between USA Standard and Poor 500 (SP500), used as benchmark, and six Latin American stock markets indexes: Mexico (BMV), Brazil (BOVESPA), Chile (IPSA), Colombia (COLCAP), Peru...

We present some stylized facts exhibited by the time series of returns of the Mexican Stock Exchange Index (IPC) and compare them to a sample of both developed (USA, UK and Japan) and emerging markets (Brazil and India). The period of study is 1997-2011. The stylized facts are related mostly to...

In this paper we investigate the adaptive market efficiency of the agricultural commodity futures market, using a sample of eight futures contracts. Using a battery of nonlinear tests, we uncover the nonlinear serial dependence in the returns series. We run the Hinich portmanteau bicorrelation...

Border regulatory requirements and administrative practices changed subsequent to the September 11, 2001 (9/11), terrorist attacks in the United States. Research in this study examines the manners in which transportation cost data for merchandise imports from Mexico behaved before and after...

Empirical research for public transport demand has uncovered numerous interesting commonalities across metropolitan economies. This study examines the demand for municipal bus services over time in El Paso, Texas, USA. El Paso is one of the largest metropolitan economies in the USA located...

An important issue in applied international economics is the extent to which trade flows adjust to changes in income, relative prices, and exchange rates. While there have been numerous surveys regarding merchandise trade elasticities in industrial economies such as Japan and the United States,...

An increasingly important component of total world trade is intra-industry trade (IIT). The large volume of literature on IIT is reflective of this importance. However, this extensive literature has focused almost completely on explaining the causes of IIT. This focus has left a puzzling gap in...

A set of error correction models are proposed for the nominal exchange rate between the Mexican peso and the United States dollar. The basic theoretical frameworks utilize balance of payments and monetary constructs. Empirical estimation results are fairly weak for both specifications...

<Para ID="Par1">Exchange rate fluctuations and international business cycles may acutely affect retail sales in border regions where residents have the option of shopping in the neighboring country. This study examines the determinants of retail sales in six cities located along Mexico’s northern border....</para>