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...

Cointegration and vector autoregression are used to examine relationships among exports, imports, and income in Taiwan from 1971 to 1995. These three series are cointegrated. There is bidirectional Granger causality between exports and imports, and between imports and income. Impulse responses...

This paper examines the causal relationship between oil consumption and economic growth in the BRICS countries for the period from 1985 to 2011. We employ a panel causality approach which accounts for both cross-sectional dependency and heterogeneity across countries. The empirical results...