In support of Fomby and Murfin's (2005) article published in this journal, we demonstrate empirically, rather than theoretically, the severe consequences of using Heteroscedasticity and Autocorrelation Consistent (HAC) SEs in regression-based financial event studies. Applying an event study to a...

Financial event studies using daily stock returns are frequently used to evaluate antitrust policy and to 'predict' the consequences of mergers. Although there is ample evidence that daily stock returns are not normally distributed, traditional asymptotic results are often used for hypothesis...

Hurricane Katrina devastated the Louisiana and Mississippi Gulf Coast. The casino industry, especially in Mississippi, suffered staggering losses. We describe the industry's losses and provide data on the industry before and after Katrina. Following previous research which has indicated that...

With third country bonds added to the monetary model of exchange rate news, third country news would have a theoretical effect on exchange rate news. The present paper uncovers empirical evidence of third country (USA) news for a number of exchange rates. Further, insignificant income, interest...

Using a time series of 50 years, the relationships between investment by telecommunications firms and Gross Domestic Product in the United States are examined. Granger-Sims causality tests are conducted, with proper allowance for both the non-stationarity of the data and lag length. These tests...

This memorandum will very briefly present the author's overall observations about the experience of the Dispute Settlement (DS) System of the World Trade Organization (WTO) this far.

This paper expands the investigation of how PAC spending affects the roll call voting behavior to the U.S. House of Representatives. Using a theoretical framework which draws on the voting literature, we develop two models that explain Representatives' voting behavior in a pre-PAC and post-PAC...

This book comprises fifteen specially commissioned contributions from the Editorial Board of the Oxford Journal of International Economic Law in celebration of the Journal's tenth anniversary. The contributions examine various issues confronting the international economic regime today, and cover...