We evaluate techniques for comparing the ability of Markov regime switching (MRS) models to fit underlying regimes of a series of interest. This is particularly important in the business cycle literature where one may be interested in determining whether using leading indicators to allow...

The potential for stock market growth in Asian Pacific countries has attracted foreign investors. However, higher growth rates come with higher risk. We apply value at risk (VaR) analysis to measure and analyze stock market index risks in Asian Pacific countries, exposing and detailing both the...

Has the 'Swiss interest rate anomaly' persisted after the financial crisis? Regarding the hypothesis that the Swiss interest rate anomaly results from systemic risk anticipation, we discuss whether Switzerland remains an interest rate island in the wake of the financial crisis. We find evidence...