A hedging approach is used to examine the effect of sectoral factors on the effectiveness of international diversification. By using data covering seven countries and various sectors, we find that international diversification is more effective when assets from developed markets only are used...

This paper reassesses the 'stylised facts' of Australia's contemporary business cycle, by calculating select moments of the cyclical components in quarterly postwar macroeconomic data. In particular, the robustness of the cross-correlation sample moments to the detrending procedure are...

It has long been held that central bank independence (CBI) from political control is a necessary requirement to curb inflation. In recent times, however, this long held belief has been challenged. Using a recently compiled panel data set on central bank independence measures, the proposition...

In this article, the inflation forecasts produced by the Reserve Bank of Australia (RBA) and that generated by private forecasters, are used to assess whether the Reserve Bank possesses information about inflation that the private sector does not have. The results show that the Reserve Bank...

This paper reassesses the ‘stylised facts’ of Australia's contemporary business cycle, by calculating select moments of the cyclical components in quarterly postwar macroeconomic data. In particular, the robustness of the cross-correlation sample moments to the detrending procedure are...

Purpose – The purpose of this paper is to examine the impact of inflation targeting on inflation for 27 countries that have adopted an inflation-targeting regime. Design/methodology/approach – The paper uses intervention analysis in Harvey's structural time series model to analyse the impact...

Purpose – The purpose of this paper is to test the hypothesis of long-run money neutrality for Egypt, Jordan and Morocco using seasonal cointegration techniques. Design/methodology/approach – The paper uses seasonal integration and cointegration techniques to test the neutrality of money...