Aim/purpose - In the decades since their reintegration with the West, the small open economies of Estonia, Latvia, and Lithuania have seen their trade flows grow substantially. While the mix of trade partners has evolved over time, the region has been affected by various political and economic...

This paper develops a wavelet (spectral) approach to test the presence of a unit root in a stochastic process. The wavelet approach is appealing, since it is based directly on the different behavior of the spectra of a unit root process and that of a short memory stationary process. By...

In empirical financial accounting research, ratios or first differences are usually calculated based on the financial and accounting data provided by the CRSP, Compustat and I/B/E/S datasets. However, in the construction of longer time series, the variables in these datasets present a challenge...

This paper investigates the existence of arbitrage between index linked bonds and conventional bonds. The long-run equilibrium relationship among two French bonds yields (The OAT yields and OATi) is also studied empirically. In practice, the Johansen methodology is applied to estimate different...

In this paper we present a two-phase study undertaken to experimentally study in a real world setting the effects of social group strength and how to increase the strength of groups in the workplace. In the first phase of our study we measured interactions between workers at the call center of a...

We estimate electricity demand elasticities for eight subsectors of the German manufacturing industry using annual data from EU-KLEMS and the International Energy Agency for 1970–2007. The subsectoral approach allows to retain additional information otherwise blurred by aggregation and to...

This paper takes a comprehensive investigation into India's service sector, the main growth engine for Indian economy over past two decades. First, the paper deals with the endogenous multiple structural break developed by Bai Perron (1998, 2003). Here both the models of pure and partial...

The sustainability of the Nigerian fiscal deficit along with the role of the dynamics of government revenues and spending in adjusting the size of the deficit is examined using annual data from 1961 to 2014. After allowing for structural breaks, the study finds evidence of a cointegration...

We conduct a fairly thorough statistical analysis of the empirical foundations for the existence of a Taylor rule. Inflation, the output gap and the federal funds rate appear to be non-stationary variables that are not cointegrated. Although this lack of cointegration could be caused by missing...