The purpose of this paper is to analyze the impact of trade openness and the factors based on the gravity model on the bilateral trade flows between Thailand and Japan. The factors consist of GDP, distance, trade openness, and exchange rate. Bilateral trade is composed of two flows: Thailand’s...

This paper studies the role of the exchange rate regime for trade of new products. It first provides VAR evidence that a rise in external productivity shifts trade away from new products and more so in fixed regimes. Then, it presents a model with firm dynamics in line with this evidence. We...

A limited number of studies have investigated the impacts of education on non-cognitive skills, yet they offer mixed results. A few studies suggest no impact, but others report positive impacts of education on non-cognitive skills. In this paper, we apply the elimination of Social Security...

Rainfall is related to economic growth and generally has beneficial impacts on dry and poor areas that are mostly dependent on rainfed agriculture. Thailand is a service-based, upper middle-income country with a tropical climate although rainfall varies regionally. The volume of precipitation in...

The market for cryptocurrencies has experienced extremely turbulent conditions in recent times, and we can clearly identify strong bull and bear market phenomena over the past year. In this paper, we utilise algorithms for detecting turnings points to identify both bull and bear phases in...

Measures of corporate credit risk incorporate compensation for unpredictable future changes in the credit environment and compensation for expected default losses. Since the launch of purchases of government securities and corporate securities by the European Central Bank, it has been discussed...

In this work we study a variant of the GARCH model when we consider the arrival of heterogeneous information in high-frequency data. This model is known as HARCH(n). We modify the HARCH(n) model when taking into consideration some market components that we consider important to the modeling...

The aim of this paper is to present the method for estimating the cost of capital of typical portfolios available on the Warsaw Stock Exchange. The authors introduce the three factor Fama-French model and its two modifications. They also apply the bootstrap method to evaluate the variability of...

Since China's reform and opening up, the urban economy has substantially developed, and the nation’s urbanization process has advanced to gradually enter a "new normal" phase. In this process, China's population and industries continue to inundate its cities, and environmental pollution has...