This paper examines the mean return and volatility spillover effects from the three influential stock markets of the US, Japan, and China to the two emerging stock markets of Indonesia and Malaysia over the sample period from 2005 to 2007. By analyzing GARCH models, we verify that there are...

This study examines how the adoption of inflation-targeting influenced exchange rate pass-through and volatility in four Asian countries -Indonesia, South Korea, the Philippines, and Thailand - over the sample period of January 1990 to June 2007. We find that adopting inflation targeting helped...

This paper analyzes an individual lending credit market in a rural society, where potential borrowers have a dynamic incentive of strategic default, and a benevolent lender gives them a credible threat to cut future credit when loands are not repaid. A crucial issue is that social sanction of...

This study provides an explanation of terrorism by examining interactions between the terrorist group with a minority as a potential pool of recruits and the government supported by a majority. A hawkish deterrence policy makes it more risky for terrorists to launch attacks, but heightens the...

The problems of controlling invasive species have been emerging as a global issue. In response to these threats, some governmental programs have been proposed for supporting eradication. This article challenges this view by studying the optimal strategies of controlling invasive species in a...

The terminology of renewable resource management becomes to span not only prototype harvesting problems but also various new types such as invasive species one. In all of these problems, process uncertainty of stock growth associated with environmental variability is one of the critical factors...