This study uses a random coefficient estimation procedure to analyze the U.S. gasoline market from 1960-1995 with three main objectives: (1) provide an empirical methodology that can estimate a gasoline demand function capable of performing well in prediction; (2) evaluate the elasticities of...

Economies of Scale in International Liner Shipping and OngoingIndustry Consolidation: An Application of Stigler'sSurvivorship PrincipleKaren V. Gregory(ABSTRACT)The international liner shipping industry has been undergoing major structural changes caused by a number of factors. Liner companies...

This study uses a random coefficient estimation procedure to test the hypothesis that much of the volatility in the U.S./Canada real exchange rate over the time period 1971 through 1999 is due to the relative price of non-traded goods to traded goods. The model specification used in this study...

(Abstract)This paper uses a multi-factor Arbitrage Pricing model to measure the systematic risks of U.S. Foreign Direct Investments (FDI) in the largest emerging markets of Latin America: Argentina, Brazil, Chile, and Mexico. The Arbitrage Pricing Theory (APT) states that returns on investments...

This paper deals with the pricing differences between a mutual co-operative underwriting system and a fixed-premium underwriting system in providing coverage for marine liability. There has been much debate in recent years within the marine liability underwriting industry over which method...

Ex-post intraday market-risk extrema are compared with ex-ante standard RiskMetrics parametric Value-at-Risk (VaR) limits for three foreign currency futures markets (British Pound, Japanese Yen, Swiss Frank) to determine whether forecasted volatility of market returns based on settlement price...

Japan is currently suffering its third economic downturn of the past decade. While Japan suffers from a variety of structural problems, the most acute is the crushing burden carried by the banks. They still suffer under the weight of thousands of billions of yen of bad loans resulting from the...