This paper empirically analyzes whether a hypothesis from Aukrust (1977) applies to two phenomena in Japan: wage spillover between internationally competitive industries (exposed sectors) and domestically protected industries (sheltered sectors), and wage- and price- setting in those industries....

This paper examines the long-run stability of import demand function in Least Developed Countries (LDC) using recently developed panel cointegration techniques. We test for cointegration using two data sets: a) annual data for 15 countries between 1965 and 2004 and b) annual data for 22...

This article examines the dynamic relationship between two key European short-term interest rates, the Eonia rate (EON) and the 3-month Euribor rate (ER3). Applying a threshold cointegration method developed by Hansen and Seo (2002) to monthly data over the period 1999 to 2011, we confirm that...

This article aims to examine the market efficiency of the commodity futures market in India, which has been growing phenomenally over the last few years. We estimate the long-run equilibrium relationship between multi-commodity futures and spot prices and then test for weak-form market...

This study empirically analyzes the sources of the exchange rate fluctuations in India by employing the structural VAR model. The VAR system consists of three variables, i.e., the nominal exchange rate, the real exchange rate, and the relative output of India and a foreign country. Consistent...

This article empirically analyses the international term structure of interest rates in the Euro area over the period from 1999 to 2006. To address the small sample problem, we apply the nonstationary panel data analysis to two data sets: (1) seven countries (Belgium, Finland, France, Germany,...