The aim of this study is to determine whether the DOW effect still exists, and to evaluate empirically the explanations of the DOW effect for international equity markets. Evaluating 51 markets in 33 countries for the period between January 2000 and December 2007, reveals that the DOW effect...

fxrates is a command to import historical U.S. exchange rate data from the Federal Reserve and to calculate the daily change of the exchange rates. Because many cross-country datasets use different spellings and conventions for country names, we also introduce a second command, countrynames, to...

Is there a relationship between the performance of US equity markets and the value of the US dollar? The question is of practical and regulatory significance. Previous attempts to answer the question relied upon on the lagged-causality approach of Clive Granger and his coauthors. Given that...

We re-examine Lynn and Vanhanen's argument that gross domestic product (GDP) depends upon IQ. We argue that their analysis suffers from three types of biases, each of which would tend to erroneously favor their hypothesis. Despite this stacked deck, we find that their results are rather fragile....

Political, economic and legal risks are among the causes of market inefficiency and the consequent under-development of financial markets. To further the understanding of the factors affecting market development, this study evaluates the Athens Stock Exchange (ASE). The Greek market provides a...

To what extent is Greece's current economic crisis the result of monetary policy misalignment between the European Central Bank and Greece? We use a risk adjusted Taylor Rule to examine Greece's monetary policy from 1993 to the present. We argue that the monetary policy of the Bank of Greece...

In this article, we describe the gwke82 command, which implements a measure of instantaneous feedback for two time series following Geweke (1982, Journal of the American Statistical Association 77: 304–313). Copyright 2013 by StataCorp LP.

Purpose The purpose of this paper is to determine the nature of the wage gap between genders and sexual orientation. Design/methodology/approach The paper uses OLS on pooled repeated cross-sections. Findings The differences in wages between gay/straight men and women mirror what would be...

Purpose – The purpose of this paper is to investigate the various forms of the classical wages fund, and especially the claim that J.S. Mill reversed his position on the nature of the wages fund. Design/methodology/approach – Textual research from original publications of Adam Smith, David...