Background: An increasing number of container and chassis staging, "dray-off", drop yard, and depot facilities are being established outside of North American marine container terminals. The increased use of these "second-tier" facilities implies that there must be some capacity, delivery time,...

We compare the ability of correlation and threshold effects in a stochastic volatility model to capture the asymmetric relationship between stock returns and volatility. The parameters are estimated using maximum likelihood based on the extended Kalman filter and uses numerical integration over...

We study the ability of traditional diagnostic tests and LM and CUSUM structural break tests to detect a range of different types of breaks in GARCH models. We find that Wooldridge's (1990) robust LM tests for autocorrelation and ARCH have no power to detect structural breaks in GARCH models....

In the midst of the current financial crisis the economics profession has seen a monumental resurrection of Keynesian ideas. The debate, which Keynes started back in the 1930s, is being picked up again, not where it left off, but in exactly the same place it started. While Keynesian theories...