This paper analyses sub-national (State and Local) government spending in Australia at the determinants of State and Local expenditure in terms of its allocation within the public sector, that is, the functions to which this level of government devotes resources. The Quantitive analysis is...

International finance theory argues that integrated markets are priced using common information. In this study, we search twelve European Capital Markets for breakpoints in the way assets are priced and correlate these dates to events in each country. Our analysis shows that the events are...

The modelling and forecasting of exchange rates and their volatility has important implications for many issues in economics and finance. This paper compares the ability of Autoregressive Conditional Heteroscedasticity, Autoregressive and Mean models to forecast the magnitude of change in 19...

This paper uses the model developed by Jorion and Schwartz (1986) to test whether the Australian capital market is segmented from or integrated into the world capital market. Using industry portfolio data for the period 1974 to 1992, we examine whether the Australian market was segmented from...

This paper esplores the applicability of ARCH/ GARCH models to Australian financial structure data. In particular we focus on the extent to which the parameters of the models change over time by analysing the data contract. We find the results to vary over time and that simple models such as the...