Time-series analysis of weekly initial claims over 1967–2012 reveal the following: (1) Initial claims are highly seasonal and cyclical, but do not follow a specific trend. Seasonality follows a “W” pattern over the 52 week period. (2) Initial claims are subject to conditional volatility...

Applicability of Wagner's hypothesis to six East Asian countries is studied for a period of nearly a half-century during which their economic growth has often been termed as a "miracle". Despite the high rates of growth in most cases, there is little indication to support the hypothesis except...

Examinations of the dynamics of daily returns and volatility in stock markets of the US, Hong Kong and mainland China (Shanghai and Shenzhen) over 2 January 2001 to 8 February 2013 suggest: (1) evidence of unidirectional return spillovers from the US to the other three markets; but no spillover...

We test the validity of the Dutch disease hypothesis by examining the relationship between real oil prices and real exchange rates in a sample of fourteen oil exporting countries. Autoregressive distributed lag (ARDL) bounds tests of cointegration support the existence of a stable relationship...

The response of the current account to monetary and fiscal shocks and real oil price shocks are examined using quarterly data for the United Kingdom over the flexible exchange rate period. We find statistical support for the existence of long-run asymmetries in the current account response to...

This study examines the relationship between savings and investment for 26 transition economies using a panel data set covering the 1991 to 2002 period. Estimates of the saving coefficient based on cross-sectional, fixed-effect, random-effect and mean-group estimators range from 0.263 to 0.315,...

The sustainability of the Turkish budget deficits as well as the dynamics of government revenues and expenditures in controlling the size of the deficit is examined using annual data from 1968 to 2004. The findings support the existence of a long-run relation between government revenues and...

This paper address the extent of capital mobility and foreign debt sustainability in Turkey over the 1962-2003 period by examining the relationship between saving and investment, and imports and exports, respectively. The empirical investment is based on cointegration, error correction models,...