In this paper, we use the cross-correlation function developed by Cheung and Ng (1996) to investigate the dynamic linkages among G7 countries in the mean and volatility of stock prices from June 2, 2003, through July 31, 2010. In particular, we examined the impact of the American financial...

This article tests for the random walk hypothesis in the four Chinese stock markets of Shanghai "A," Shanghai "B," Shenzhen "A," and Shenzhen "B" and explores the impact of the market liberalization that occurred in 2001 on the efficiency of these markets. Empirical results show that the market...

This paper constructs panel data from an 11-year data set on all 47 prefectures of Japan, covering the period 1996-2006 . We use this data set to analyze the factors affecting photovoltaic (PV) system diffusion. Our empirical results show that the regional government policy clearly helps to...

Using the 2004 and 2006 pooling data from the China Health and Nutrition Survey (CHNS) questionnaire, this paper studies the differences between male and female employment in urban China, taking into account the interdependence between the decision of women to participate in the workforce and...

In the wake of the global financial crisis, leading industrialized countries have managed to show only a gradual recovery, while East Asian economies have surged ahead. In particular, China achieved growth in excess of 10% in 2010 and is expected to continue growing at a rapid pace. It appears...

Using the asymmetric dynamic conditional correlation (A-DCC) model developed by Cappiello et al. (2006), this paper empirically analyzes the conditional correlation between treasury and swap markets from February 9, 2006 to May 31, 2011, and makes two key contributions. First, the dynamics of...

This study assesses the dependence structure of insurance sector credit default swap indices, using a copula-GARCH approach. We use daily data of the US, EU, and UK insurance sectors, covering the period from January 2004 to June 2013. We find substantial increases in dependence during the...

This paper empirically analyses the stability of the aggregate import demand function for G7 countries. The standard cointegration test and a test developed by Gregory and Hansen are performed. The results of standard cointegration tests suggest that there is no stable cointegrating relation...

This paper focuses on the international business cycle repercussions between Japan and the United States based on the vector error correction model. The results of the analysis are as follows: first, the effect of economic fluctuations between Japan and the United States is asymmetric; whereas...