In this paper, we investigate the spillover effect from US monetary policy to selected ASEAN stock markets by employing Markov-switching models. Based on univariate Markov-switching models, we confirm the existence of two distinct regimes for both US monetary policy and the stock markets. By...

In this study, we investigate the interdependence between the bond markets of CEEC-3 (Poland, the Czech Republic, and Hungary) and Germany by using wavelet transform analysis. First, we find that contagion occurred in these markets during the global financial crisis and European debt crisis, at...

(GEM) based on the dynamic equicorrelation of trading volume and stock returns. We find that the hot IPO effect ends after two years with the imbalance between demand and supply for GEM stock relieved, which indicates that the rational learning process requires almost two years for most...

We use copula models to investigate the structural dependence between CEEC-3 (Poland, the Czech Republic, and Hungary) and German bond markets from 2000 to 2012. We evaluate the degree of financial integration and dependence structure changes in government securities markets following European...

By applying the GARCH-DCC model, we reexamine the Phillips curve based on a time-varying correlation analysis for Canada and the United States from January 1985 to December 2012. The empirical results show that the sign of the correlation between the inflation rate and the unemployment rate is...

In this article, we investigate the dependence structure among international stock markets, with particular emphasis on developed and emerging stock markets, as proxied for by major country-level exchanges. Specifically, we adopt the copula model for the presented analysis and find that an...

We investigate the dynamic dependence structure between specific currencies (the GBP, the EUR and the JPY) and gold. The primary findings are as follows. First, the lower and upper conditional dependences between the currencies and gold were weaker during the financial turmoil period than in the...

Purpose: This paper aims to imitate a cownose ray to develop a fish robot with paired flexible multi-fin-ray oscillating pectoral fins (OPFs) and control it to accomplish vivid stable 3-D motions using central pattern generators (CPGs) and fuzzy algorithm. Design/methodology/approach: The...