There is strong empirical evidence that the GARCH estimates obtained from panels of financial time series cluster. In order to capture this empirical regularity, this paper introduces the Hierarchical GARCH (HG) model. The HG is a nonlinear panel specification in which the coefficients of each...

We study the problem of forecasting a time series that evolves according to a dynamically changing, skewed life cycle. For instance, firms often need accurate distributional forecasts of product life cycles to make operational decisions about capacity and inventory management. These forecasts...

This paper investigates the effect of both strategic and environmental factors on the tourist area life cycle for Cypress Gardens. It is hypothesized that both types of factors can have a revitalization effect on the tourist area life cycle. A step-logarithmic function is used to model the...

This volume contains specially commissioned chapters by leading researchers who have used and modified the original TALC model over the past two decades, a reprint of the original article, a discussion of its origins, and a comprehensive review of most of the published material using the TALC