This paper constructs new measures of regional trading arrangement (RTA) membership based on the degree of integration and implementation. We find that RTAs create intra-bloc trade regardless of their type and that more integrated RTAs generate greater total trade creation

In this article, we investigate the impact of regional trading arrangements (RTAs) on the environment. We propose an empirical model where RTAs, trade, growth and environmental quality are interrelated. As a result, an RTA in our model can impact the environment either directly or indirectly via...

By applying SEMIFAR models (Beran, 1999), we examine 'long memory' in the volatility of worldwide stock market indices. Our analysis yields strong evidence of 'long memory' in stock market volatility, either in terms of stochastic long-range dependence or in form of deterministic trends. In some...

The distinction between stationarity, difference stationarity, deterministic trends as well as between short- and long-range dependence has a major impact on statistical conclusions, such as confidence intervals for population quantities or point and interval forecasts. In this paper, recent...

SEMIFAR models introduced in Beran (1999) provide a semiparametric modelling framework that enables the data analyst to separate deterministic and stochastic trends as well as short- and long-memory components in an observed time series. A correct distinction between these components, and in...