This paper estimates a structural vector autoregression model to assess the dynamic effects of terrorism on output and prices in Israel over the post-1985 period. Long-run restrictions are used to obtain an interpretation of the effects of terrorism in terms of aggregate demand and supply...

This paper evaluates the international integration hypothesis, that is, that risk-adjusted anticipated returns are identical, even when financial instruments are traded in different countries. Under time-varying conditional volatility, this hypothesis is tested by verifying the equality between...

For the first time in the literature, this paper extends the CCAPM to establish the empirical relations between equity premia and state-dependent consumption and market risks. These relations are derived from a flexible, yet tractable, mixture distribution admitting the existence of two regimes,...

This paper analyzes the empirical relations between equity premia and state-dependent consumption and market risks. These relations are derived from a flexible specification of the CCAPM with mixture distribution, which admits the existence of two regimes. Focusing on the market return, we find...

This paper empirically investigates the following three questions: (i) Do stock returns respond to monetary policy shocks? (ii) Do stock returns alter the transmission mechanism of monetary policy? and (iii) Does monetary policy systematically react to stock returns? Existing research based on...

"This paper examines the impact of trade facilitation on intra-African trade. The authors examine the role of trade facilitation reforms, such as increased port efficiency, improved customs, and regulatory environments, and upgrading services infrastructure on trade between African countries....

This paper examines the impact of trade facilitation on intra-African trade. The authors examine the role of trade facilitation reforms, such as increased port efficiency, improved customs, and regulatory environments, and upgrading services infrastructure on trade between African countries....

This paper examines the impact of trade facilitation on intra-African trade. The authors examine the role of trade facilitation reforms, such as increased port efficiency, improved customs, and regulatory environments, and upgrading services infrastructure on trade between African countries....