This article tests the effects of Oscar awards on the production of feature films. Time series data for Spain over the 1953-2014 period are used and a production function is estimated assuming that the Oscar effects accrue through the total factor productivity. A lag structure is introduced...

This article tests the effects of Oscar awards on the production of feature films. Time series data for Spain over the 1953-2014 period are used and a production function is estimated assuming that the Oscar effects accrue through the total factor productivity. A lag structure is introduced...

Using a Markov regime switching model, this article presents evidence on the well-known January effect on stock returns. The specification allows a distinction to be drawn between two regimes, one with high volatility and other with low volatility. We obtain a time-varying January effect that...

This article proposes an extension of Dixit (1989, Quart. J. Econ.), assuming that potential exporting firms benefit from the experience of firms already settled in the foreign market which allows the sunk cost to diminish. In general, the numerical results show that hysteresis is lower as...

Using a Markov regime switching model, this article presents evidence of the well-known January effect on stock returns. The specification allows a distinction to be drawn between two regimes: one with high volatility and another with low volatility. We obtain a time-varying January effect that...