Our paper uses simulation methods to examine the size and power of regime-switching tests for bubbles. We find that even with several hundred observations, the tests show sometimes considerable size distortion. This distortion makes the tests conservative; they understate the significance of the...

Abstract We use a matching framework to explore the hypothesis that firing costs are a decreasing function of labor market tightness. Conventional wisdom suggests that differences in employment protection legislation (EPL) cause differences in labor market performance. Our hypothesis suggests a...

Abstract If workers anticipate a technological innovation, some workers may decide to quit their job and retrain themselves to acquire the skills which are needed by this new technology. However, this may facilitate the innovation and make it a self-fulfilling prophecy. This self-fulfilling...

Large dollar reserves in Asian EMEs accompany large U.S. fiscal and current account deficits. Analysis of strategic sales by Asian EMEs suggests that an attack on the dollar is not certain but is possible. A unique equilibrium where Asian EMEs sell their reserves does not exist but there are...

Abstract This paper examines the allocation of heterogeneous workers across sectors of an economy in which workers are able to direct their search towards particular firms. We find that search frictions, in addition to causing unemployment, may result in an inefficient allocation of labor. This...

Purpose – The purpose of this paper is to identify major challenges that Asia-Pacific policy makers face in drawing up international logistics policies, and to seek possible solutions to the problems. Design/methodology/approach – Case study method: the paper includes seven case studies that...

Purpose – With the introduction of open door policy in 1978 and recent entrance to the World Trade Organisation (WTO), there seems to be a continuous growth of world business between China and the rest of the world. The purpose of this article is to make a comparison between Chinese...

Purpose – The purpose of this paper is to develop a new approach to market analysis, and test how the China‐US soybean market integration and arbitrage efficiency have changed across 1995/1‐/2004/1 – a period covering strengthened government efforts to join WTO, and the institutional...

Business people in the English‐speaking world tend to underrate the significance of language skills in general, and in particular, the importance of variation within the English language. This article considers the various types of English that are spoken throughtout the world and the...

Offers a rare insight into the dynamics, realities and potential of the Iranian business community. Uses a sample of 40 Iranian executives to empirically study the impact of the economic constraints and the values of executives on the performance of Iranian business organisations. Emphasizes the...