'New' long run data regarding Norway, the Netherlands, United Kingdom and USA has been collected and will be graphically, statistically and econometrically compiled and analyzed to prove that real house prices in the long run are constant and mean reverting. Co-integration of nominal house...

We explore the pace of increase in returns to schooling during the transition from planning to market over time across a number of Central and Eastern European countries, Russia, and China. We use metadata from 33 studies of 10 transition economies covering a period from 1975 through 2002. Our...

This study attempts to explain why the transition to a market economy is skill-biased. It shows unequivocal evidence on increased skill wage premium and supply of skills in transition economies. It examines whether similar skill-favoring shifts in the Russian and U.S. economies are driven by the...

Despite their popularity as proxies of expected returns, the implied cost of capital's (ICC) measurement error properties are relatively unknown. Through an in-depth analysis of a popular implementation of ICCs by Gebhardt, Lee, and Swaminathan (2001) (GLS), I show that ICC measurement errors...

In this research work the effect of corporate cash holdings on stock return is analyzed in which panel data is used from Pakistani listed firms which are listed in KSE for the period 2007-2013, the firms are selected randomly having sample size of 120 which is then is divided into sixty small...

The rapid accumulation and persistence of interenterprise credits and arrears is a fairly common phenomenon in transition economies, posing serious policy concerns. A general equilibrium model of production chains is presented to analyze this phenomenon and provide policy implications. The model...

Start-up firms often face difficulties in raising external funds. Employing a unique panel dataset covering 9,715 start-up firms over the period 2007-2009, we find that high-tech startups are less likely to use bank finance and face more difficulties in raising bank finance than low-tech...

The real estate prices in urban China have been soaring sharply since the commercialization reform of the housing market in 1998, but have suffered from downward pressure recently. In addition to the peculiarities of the state-owned land system, newly built houses dominate market across the vast...

One possible consequence of the establishment of the Euro is a challenge to the hegemony of the US dollar as the predominant international currency. No other currency has been able to rival the international role of the greenback since World War II. The fact that the unipolar international...

The effect of lenders' information sharing on the volume of credit is ambiguous in theory and underexplored empirically. Departing from the scant existing literature, which draws on country-level aggregate data, we study the impact of information sharing on the volume of private credit by...