This paper finds that global temperature anomalies are characterised by (temporary) explosiveness, a statistical feature typically found in financial and commodity market data during episodes of extreme price increases. This finding dramatically illustrates the extent temperature changes have...

New macro empirical evidence is provided to assess the relative importance of object and idea gaps in explaining the world income distribution dynamics. Formal statistical hypothesis tests allow us to discriminate between two competing growthmodels: (i) the standard neoclassical growth model...

This paper shows that indicators and tests of government solvency should not be used alternatively. We present a simple and intuitive procedure to integrate simultaneously the results from the two approaches to fiscal sustainability. An application to U.S. post-World War II data demonstrates the...

We assess the out-of-sample performance of Bitcoin within portfolios of various asset classes and a well-diversified portfolio employing standard metrics under four strategies. Most importantly, we show the value-added net of transaction costs. Our findings suggest significant diversification...

The development of Global Internet shopping has opened up exciting opportunities for finding new and efficient way of doing businesses. Although the advance in information infrastructure makes connectivity possible to reach almost anywhere in the world, it does not necessarily ensure a...

This study was conducted to find out the factors affecting the consumers' choice of wine in HoChiMinh City, Vietnam. The multiple regression model was not statistically significant for finding the relationship between the factors and the Money spent on wine, so discriminant analysis method was...

This paper generalizes the approach of Zhou, van den Akker, Werker (2019), which was designed to derive semiparametric power envelope and construct efficient rank-based tests for the univariate unit root testing problem. The generalization is threefold. First, it becomes a unified method...

The UNESCO World Heritage list has set as a primary goal since its creation in 1972 the protection of places with special cultural or physical significance. Nevertheless, the present list suffers from a lack of balance regarding the distribution of sites in countries and the five UNESCO regions...

This paper introduces technological interdependence à la Ertur and Koch (Growth, technological interdependence and spatial externalities: Theory and evidence. Journal of Applied Econometrics 2007; 22: 1023-1062) into the theoretical framework of Gennaioli et al. (Human capital and regional...

The Basel Accord assumes an inverse relationship between the probability of default and the asset correlation parameter, with the latter being responsible for modeling the degree of cyclicality of default rates. Previous empirical studies that embedded the formula of the Basel Accord into a...