Purpose The study aims to examine the appropriateness of the coefficient of elasticity of trading (CET) as a measure of liquidity using Nigerian stock market data. Given that liquidity is multidimensional, the CET is complemented with the popular measure of liquidity, turnover ratio to explore...

Exploring the information contained in Commodity Futures Trading Commission's (CFTC) Commitments of Traders (COT) reports, this analysis investigates the forecasting ability of investor sentiment index in three major precious metal futures markets, namely, Gold, Silver, and Platinum. A strong...

Was the collapse of world trade between 1928 and 1937 caused by higher transport costs, increased protectionism or the collapse of the gold standard? Using recent advances in the estimation of gravity equations, I examine the partial and general equilibrium effects of bilateral distance,...

I explore empirically the interactions between international trade and stock markets. A simple "Lucas-tree" two-country, two-good, free-trade model with complete asset markets predicts that stock markets forecast trade flows and that stock markets react immediately and fully to news about...

The present paper investigates the relationship between consumption, labour income and household wealth in Australia within the inter-temporal consumption framework developed by Lettau and Ludvigson (2001). We first test for a long-run relationship among these series and then investigate whether...