This study proposes a new approach to estimation of the time series properties of daily volatility in financial markets.

In this paper we propose a new test procedure with more general steady state information to test the convergence hypothesis for a specific economy. We consider a model where demeaned per capita output of an economy is a function of time trend and then set the convergence hypothesis as negative...

Estimation of the reduced rank regression model requires restrictions be imposed upon the model. Two forms of restrictions are commonly used. Earlier Bayesian work relied on the triangular method of identification which imposes an a priori ordering on the variables in the system, however,...

Forecasting large numbers of time series is a costly and time-consuming exercise. Before forecasting a large number of series that are logically connected in some way, the authors can first cluster them into groups of similar series. In this paper they investigate forecasting the series in each...

This article explores tests for absolute convergence in economic activity among a set of countries. It proposes a new test procedure that allows the researcher to identify particular countries within the group, which might not be converging. It also proposes that convergence among a set of...