In this paper, we examine the time series properties of inflation in seven countries that have adopted inflation targeting. Unlike previous studies, we utilize a non-linear mean reverting adjustment mechanism for inflation and we discover that, although deviations of inflation from the target...

In this study we propose a new price impact ratio as an alternative to the widely used Amihud's (2002) Return-to-Volume ratio (RtoV). This new measure, which is deemed Return-to-Turnover ratio (RtoTR), essentially modifies RtoV by substituting trading volume in its denominator with the turnover...

We develop a simple labour turnover model of general training. Upon completion of theirtraining, apprentices are equipped with general skills and they accumulate firm-specificskills by continuing working for their training firm. Job turnover is associated with a loss ofaccumulated firm-specific...