activity. This relationship is not due to time-varying volatility. Moreover, both large and small investors trade less and the …

two periods of time: a relative quiet one and a turbulent one. For the first period we found that calendar anomaly was …

for Taiwan, comprising a high proportion of world tourist arrivals to Taiwan, are Japan and USA, which are sources of … international tourist arrivals, daily data from 1 January 1990 to 31 December 2008 are used to model the world price and US$ - New … Taiwan $ and Yen - New Taiwan $ exchange rates, and tourist arrivals from the world, USA and Japan to Taiwan, as well as …