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1

Katrakilidis, Constantinos, Kalomoira Kourti, and Athanasios Athanasenas. "The Dynamic Linkages Between Energy, Biofuels and Agricultural Commodities’ Prices." Applied Economics Quarterly: Volume 64, Issue 2 64, no. 2 (2018): 115–26. http://dx.doi.org/10.3790/aeq.64.2.115.

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Abstract This paper investigates the dynamic linkages between the prices of crude oil, biofuels and agricultural commodities. The analysis uses monthly data for crude oil, corn, sugar, ethanol, biodiesel and the general food price index and covers the period 1960 –2013. In the context of the empirical analysis, we apply the ARDL approach to cointegration, in conjunction with Granger causality tests. The results reveal strong dependencies between the examined sectors in both the long and short run time horizon. JEL classifications: C22, C52, Q11, Q42, Q43 Keywords: ARDL Cointegration, Agricultu
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2

Lindé, Jesper. "Testing for the Lucas Critique: A Quantitative Investigation." American Economic Review 91, no. 4 (2001): 986–1005. http://dx.doi.org/10.1257/aer.91.4.986.

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In this paper, I try to shed some new light on the “puzzle” of why the Lucas critique, believed to be important by most economists, seems to have received very little empirical support. I use a real-business-cycle model to verify that the Lucas critique is quantitatively important in theory, and to examine the properties of the super-exogeneity test, which is used to detect the applicability of the Lucas critique in practice. The results suggest that the superexogeneity test is not capable of detecting the relevance of the Lucas critique in practice in small samples. (JEL C52, C22, E41)
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Marrero, Osvaldo. "Detection and Analysis of Small-Amplitude Seasonal Variation in a Short Time Series." American Economist 64, no. 1 (2018): 73–81. http://dx.doi.org/10.1177/0569434518754506.

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We discuss a procedure for seasonality analyses of short time-series data with small amplitude. Such analyses are often performed in medical research. In economics, however, time series are typically long and of appreciable amplitude; therefore, economists are used to analyzing such data. Our procedure provides one more tool for the economists’ data-analysis toolbox. We illustrate the procedure’s application with three examples of real economics data. The examples demonstrate that the procedure can be profitably applied to short economics time series. JEL Classifications: C12, C22, C23, C49, F
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Yalçınkaya, Ömer, İbrahim Hüseyni, and Ali Kemal Çelik. "The Impact of Total Factor Productivity on Economic Growth for Developed and Emerging Countries: A Second-generation Panel Data Analysis." Margin: The Journal of Applied Economic Research 11, no. 4 (2017): 404–17. http://dx.doi.org/10.1177/0973801017722266.

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This article investigates the determinants of economic growth and also seeks to determine whether or not the impact of total factor productivity (TFP) changes with respect to the level of development for selected countries. In this manner, the present study examines the impact of gross fixed capital formation, employed labour and the TFP of G-7, G-12 and G-20 countries on real GDP per capita using second-generation panel data analyses over the period 1992–2014. The results reveal that TFP has a greater impact on economic growth than fixed capital formation and employed labour for all country g
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Panyagometh, Kamphol. "An anatomy of calendar effects in Thailand." Investment Management and Financial Innovations 13, no. 4 (2016): 8–16. http://dx.doi.org/10.21511/imfi.13(4).2016.01.

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This paper aimed to study the interaction and profitability of the five most well-established calendar effects: Halloween effect, January effect, turn-of-the-month effect, weekend effect, and Thai holiday effect. The author found that turn-of-the-month effect (TOM) and weekend effect were the strongest and most profitable effects in Thai stock markets. The equity premium over the sample during 2000–2015 was 4.40 per cent if there was TOM effect or weekend effect, and -2.13 per cent in other cases. This study narrowed down the number of calendar effects from five to two, leading to more effecti
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Ohiomu, Sylvester, and Sunday Ade Oluyemi. "Resolving Revenue Allocation Challenges in Nigeria: Implications for Sustainable National Development." American Economist 64, no. 1 (2018): 142–53. http://dx.doi.org/10.1177/0569434518775324.

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This study examines the structure and formula for revenue allocation in Nigeria which has been fraught with challenges, proffers solution, and highlights its implications for sustainable national development. The work uses the methodology of Group Unit Root Test, auto regressive distributed lag (ARDL) Bounds Testing and Cointegrating Long Run tests for robust policy recommendations. Using the Gross Domestic Product as the dependent variable and revenue allocation to the three levels of government, and oil revenue as the independent variables, the results from the study show that revenue alloca
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Leone, Andrew J., Miguel Minutti-Meza, and Charles E. Wasley. "Influential Observations and Inference in Accounting Research." Accounting Review 94, no. 6 (2016): 337–64. http://dx.doi.org/10.2308/accr-52396.

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ABSTRACT Accounting studies often encounter observations with extreme values that can influence coefficient estimates and inferences. Two widely used approaches to address influential observations in accounting studies are winsorization and truncation. While expedient, both depend on researcher-selected cutoffs, applied on a variable-by-variable basis, which, unfortunately, can alter legitimate data points. We compare the efficacy of winsorization, truncation, influence diagnostics (Cook's Distance), and robust regression at identifying influential observations. Replication of three published
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8

Brodeur, Abel, Nikolai Cook, and Anthony Heyes. "Methods Matter: p-Hacking and Publication Bias in Causal Analysis in Economics." American Economic Review 110, no. 11 (2020): 3634–60. http://dx.doi.org/10.1257/aer.20190687.

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The credibility revolution in economics has promoted causal identification using randomized control trials (RCT), difference-in-differences (DID), instrumental variables (IV) and regression discontinuity design (RDD). Applying multiple approaches to over 21,000 hypothesis tests published in 25 leading economics journals, we find that the extent of p-hacking and publication bias varies greatly by method. IV (and to a lesser extent DID) are particularly problematic. We find no evidence that (i) papers published in the Top 5 journals are different to others; (ii) the journal “revise and resubmit”
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Ohiomu, Sylvester. "External Debt and Economic Growth Nexus: Empirical Evidence From Nigeria." American Economist 65, no. 2 (2020): 330–43. http://dx.doi.org/10.1177/0569434520914862.

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This study models external debt and economic growth nexus for policy analysis on public finance and public debt management. The work uses the methodology of group unit root test, auto-regressive distributed lag (ARDL) bounds testing, and co-integrating long-run tests for robust policy recommendations. The results showed that the debt overhang variable (D_Y) and crowding-out effect variable (DS_X) depress the level of investment. This adversely affects economic growth in Nigeria. The study recommends that Nigeria should embark on strict debt management policy, pursue effective debt reduction st
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10

Cheraitia, Zahra, and Hanya Kherchi Medjden. "Application of Convex Optimization Results of De Finetti's problem for Proportional Reinsurance (Study case CAARAMA insurance campany in Algiers)." Management & Economics Research Journal 2, no. 4 (2020): 86–100. http://dx.doi.org/10.48100/merj.v2i4.127.

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The objective of this research is to find the optimal retention level for a proportional reinsurance treaty based on the results of the convex optimization developed in De Finetti’s model. The latter makes it possible to determine the level of retention that achieves the expected profit by the insurer, while minimizing claims volatility. The convex functions appear abundantly in economics and finance. They have remarkable specificities that allows actuaries to minimize financial risks to which some institutions are exposed, especially insurance companies. Therefore, the use of mathematical too
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11

Hodgson, Robert, and Jing Cao. "Criteria for Accrediting Expert Wine Judges." Journal of Wine Economics 9, no. 1 (2013): 62–74. http://dx.doi.org/10.1017/jwe.2013.26.

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AbstractA test for evaluating wine judge performance is developed. The test is based on the premise that an expert wine judge will award similar scores to an identical wine. The definition of “similar” is parameterized to include varying numbers of adjacent awards on an ordinal scale, from No Award to Gold. For each index of similarity, a probability distribution is developed to determine the likelihood that a judge might pass the test by chance alone. When the test is applied to the results from a major wine competition, few judges pass the test. Of greater interest is that many judges who fa
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Khan, Mohsin S., and Axel Schimmelpfennig. "Inflation in Pakistan." Pakistan Development Review 45, no. 2 (2006): 185–202. http://dx.doi.org/10.30541/v45i2pp.185-202.

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This paper examines the factors that explain and help forecast inflation in Pakistan. A simple inflation model is specified that includes standard monetary variables (money supply, credit to the private sector), an activity variable, the interest and the exchange rates, as well as the wheat support price as a supply-side factor. The model is estimated for the period January 1998 to June 2005 on a monthly basis. The results indicate that monetary factors have played a dominant role in recent inflation, affecting inflation with a lag of about one year. Private sector credit growth and broad mone
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Olkin, Ingram, Ying Lou, Lynne Stokes, and Jing Cao. "Analyses of Wine-Tasting Data: A Tutorial." Journal of Wine Economics 10, no. 1 (2014): 4–30. http://dx.doi.org/10.1017/jwe.2014.26.

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AbstractThe purpose of this paper is to provide a tutorial of data analysis methods for answering questions that arise in analyzing data from wine-tasting events: (i) measuring agreement of two judges and its extension to m judges; (ii) making comparisons of judges across years; (iii) comparing two wines; (iv) designing tasting procedures to reduce burden of multiple tastings; (v) ranking of judges; and (vi) assessing causes of disagreement. In each case we describe one or more analyses and make recommendations on the conditions of use for each. (JEL Classifications: C10, C12, C13, C59, C90)
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14

Dikolli, Shane S., John H. Evans, Jeffrey Hales, Michal Matejka, Donald V. Moser, and Michael G. Williamson. "Testing Analytical Models Using Archival or Experimental Methods." Accounting Horizons 27, no. 1 (2012): 129–39. http://dx.doi.org/10.2308/acch-50287.

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SYNOPSIS Analytical models can quite naturally complement empirical data, whether archival or experimental. This article begins by discussing the advantages and disadvantages of combining an analytical model with archival or experimental data in a single study. We next describe how models are typically used in empirical research and discuss when including an analytical model is more versus less useful. Finally, we offer examples of more and less successful combinations of analytical models and empirical data, along with a brief discussion of how such studies are likely to fare in the journal r
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15

Chen, Xiaohong, Han Hong, and Denis Nekipelov. "Nonlinear Models of Measurement Errors." Journal of Economic Literature 49, no. 4 (2011): 901–37. http://dx.doi.org/10.1257/jel.49.4.901.

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Measurement errors in economic data are pervasive and nontrivial in size. The presence of measurement errors causes biased and inconsistent parameter estimates and leads to erroneous conclusions to various degrees in economic analysis. While linear errors-in-variables models are usually handled with well-known instrumental variable methods, this article provides an overview of recent research papers that derive estimation methods that provide consistent estimates for nonlinear models with measurement errors. We review models with both classical and nonclassical measurement errors, and with mis
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16

Jha, Raghbendra, and Sadia Afrin. "Structural Transformation in South Asia: Does the Pattern Ensure Growth Momentum?" South Asia Economic Journal 22, no. 1 (2021): 7–28. http://dx.doi.org/10.1177/1391561421989855.

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We model the evolution and determinants of shares of agriculture, manufacturing and services to gross domestic product for four South Asian countries (Bangladesh, India, Sri Lanka and Pakistan) for 41 years (1974–2018) to understand their structural transformation pattern. Determinants of shares were classified into three broad categories: ‘country fundamentals’, ‘policy’ and ‘decadal dummies’. This is the first article to investigate the empirical regularities of the structural transformation pattern and their determinants for this region. The generalized least squares estimation technique fo
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17

Cuellar, Steven S., Dan Karnowsky, and Frederick Acosta. "The Sideways Effect: A Test for Changes in the Demand for Merlot and Pinot Noir Wines." Journal of Wine Economics 4, no. 2 (2009): 219–32. http://dx.doi.org/10.1017/s193143610000081x.

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AbstractThis paper examines the effect of the movie Sideways on US wine consumption. Specifically, we examine the affects of the movie on the consumption of Merlot, which is derided in the movie and the affect on Pinot Noir, which is praised. We examine the trends in consumption before and after the movie and perform statistical tests for structural changes in consumption. We also test for changes in consumption of each varietal by price point. (JEL Classification: C22)
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18

Rashid, Abdul, and Fazal Husain. "Capital Inflows, Inflation, and the Exchange Rate Volatility: An Investigation for Linear and Nonlinear Causal Linkages." Pakistan Development Review 52, no. 3 (2013): 183–206. http://dx.doi.org/10.30541/v52i3pp.183-206.

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This paper empirically examines the effect of foreign capital inflows on domestic price levels, monetary expansion, and the exchange rate volatility for Pakistan using linear and nonlinear causality tests. The key message emerging from the analysis is that there is a significant inflationary impact of capital inflows, in particular during the period of surges in capital inflows. Specifically, we find evidence of a significant nonlinear Granger causality running from capital inflows to the change in domestic prices. We also show that domestic prices are nonlinearly caused (in Granger sense) by
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19

Fang, Hao, Tsang-Yao Chang, Yen-Hsien Lee, and Wei-Jui Chen. "The impact of macroeconomic factors on the real estate investment trust index return on Japan, Singapore and China." Investment Management and Financial Innovations 13, no. 4 (2016): 242–53. http://dx.doi.org/10.21511/imfi.13(4-1).2016.11.

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This study contributes to the existing literature by combining the multiple methods to clarify the influence of the macroeconomic factors on the real estate investment trust (REIT) index in three Asian countries. The authors, first, use an autoregressive distributed lag (ARDL) bounds test to find that a long-run equilibrium exists between the REIT index and the interest rate, inflation rate, and stock index for China and Singapore. The authors, then, analyze the long- and short-run elasticity of the macroeconomic variables on the REIT index. Finally, using the Granger non-causality test, the a
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20

Bentzen, Jan, and Valdemar Smith. "The Military Action in Iraq 2003: Did the US Consumer Boycott of French Wines Have any Economic Effects?" Journal of Wine Economics 2, no. 1 (2007): 75–83. http://dx.doi.org/10.1017/s1931436100000304.

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AbstractThe public opinion in the US turned against France and to some extent Germany for not supporting the armed intervention in Iraq. From early 2003 a boycott of French goods, especially wines, by American consumers became an issue which affected sales of French wines in the US. This paper analyses how the boycott affected the demand for French wine on the American market using international trade data. The effect may have been only temporary. We estimate it at some 120 million US dollars. (JEL classification: C22, D12)
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21

Kormos, János, and Pál Czeglédi. "Munkapiaci rugalmatlanság és a munkanélküliségi idősorok egységgyök-tulajdonsága: problémafelvetés." Competitio 7, no. 2 (2008): 103–14. http://dx.doi.org/10.21845/comp/2008/2/6.

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A cikk a munkanélküliség idősorainak vizsgálatára vonatkozó irodalmat, illetve az e tesztek mögött meghúzódó közgazdasági magyarázatokat tekinti át. Választ keresünk arra, hogy mi az elméleti alapja a munkanélküliség idősoraiban az egységgyök létezését kutató teszteknek. Amellett érvelünk, hogy az e tesztek előtt álló egyik fő nehézséget a munkapiaci intézményrendszer megváltozása jelenti. A hagyományos egységgyöktesztek emiatt meglehetősen gyengévé válnak, míg a panel egységgyöktesztek a kérdés közgazdasági oldalát egyszerűsítik le. Következtetésünk, hogy az úgynevezett közel egységgyök-folya
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22

Pawlisiak, Mieczysław. "ARIMA MODEL USED TO ANALYZE THE DEMAND FOR SWIMMING POOL SERVICES." Współczesna Gospodarka 10, no. 1 (32) (2019): 55–68. http://dx.doi.org/10.26881/wg.2019.1.06.

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Many factors influence customer preferences among those who choose active leisure. A wide range of market productsmakes for many opportunities, and sports facilities are required to be fully prepared to provide services. It is helpful to create forecasts that enable to determine the predictable number of clients. An example prediction made with respect to swimming pools is presented in this article. For this purpose, the ARIMA model was used, based on the assumption that the value of the endogenous variable is affected by the value of this variable laggedin time.
 JEL classification: C2,
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Grzelak, Małgorzata. "FORECASTING PRODUCTION VOLUME IN A PLASTICS ENTERPRISE." Współczesna Gospodarka 10, no. 1 (32) (2019): 69–78. http://dx.doi.org/10.26881/wg.2019.1.07.

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The functioning of production enterprises is based on satisfying the needs of customers through the timely manufacture of products in accordance with the demand existing on the market. The availability of the offered range of products is guaranteed by a correct preparation of forecasts of potential orders. This article presents a multiple-regression-method-based tool supporting the planning of production volumes in an enterprise depending on the calendar month. Reliability analysis of the developed model through the analysis of residuals and their autocorrelations and partial autocorrelations
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Ali, Adeel, Syed Faizan Iftikhar, and Sabihuddin Butt. "Is Innovation in Pakistan Driven by Specialisation or Diversity?" Pakistan Development Review 55, no. 4I-II (2016): 705–14. http://dx.doi.org/10.30541/v55i4i-iipp.705-714.

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Innovation is among the main drivers of industrial development leading to economic growth. However, the question triggers that what drives innovation? Is innovation driven by specialisation or diversification? The literature has supported both, the specialisation and diversification as driver of innovation. Therefore, the purpose of this paper is to explore the determinants of innovation in Pakistan with a special emphasis on specialisation and diversity. The analysis is based on the cross sectional data set of 784 firms across 13 different cities of Pakistan, i.e. Investment Climate Survey (I
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Qayyum, Abdul. "Money, Inflation, and Growth in Pakistan." Pakistan Development Review 45, no. 2 (2006): 203–12. http://dx.doi.org/10.30541/v45i2pp.203-212.

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This paper attempts to investigate the linkage between the excess money supply growth and inflation in Pakistan and to test the validity of the monetarist stance that inflation is a monetary phenomenon. The results from the correlation analysis indicate that there is a positive association between money growth and inflation. The money supply growth at first-round affects real GDP growth and at the second round it affects inflation in Pakistan. The important finding from the analysis is that the excess money supply growth has been an important contributor to the rise in inflation in Pakistan du
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Pokharel, Shree B. "Wine Industry Campaign Contributions and Wine Excise Taxes: Evidence from U.S. States." Journal of Wine Economics 13, no. 1 (2018): 3–19. http://dx.doi.org/10.1017/jwe.2018.10.

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AbstractGiven the growing importance of the wine industry in the United States, wine special interests are on the rise. Data shows that campaign contributions from the wine industry to officials running for state offices have increased over time. Given this reality, one can expect wine excise tax to remain low in states that receive higher campaign contributions. In addition, there are theoretical and empirical reasons to believe that these tax rates are interdependent based on Tiebout competition and yardstick competition. Based on this reasoning, one can hypothesize wine excise tax rates to
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Milhøj, Anders. "The Market Share of Wine in Denmark." Journal of Wine Economics 5, no. 2 (2010): 327–38. http://dx.doi.org/10.1017/s1931436100000973.

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AbstractThis paper analyzes the position of wine in the Danish alcohol market from 1978 to 2008. During this time period the market share of wine has doubled, assumingly due to a tax-induced change in relative prices as well as behavioral changes. This paper models the yearly observed market share of wine by unobserved component models which allow for adaptive trends including regressions with time varying coefficients. I find that the market share of wine has a steady upward trend even if it was temporarily broken by a tax reduction for liquor in 2001. (JEL Classification: C22, D11, L66)
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Bulut, Umit. "Does the Central Bank of the Republic of Turkey Respond Asymmetrically to Inflation and Output?" Margin: The Journal of Applied Economic Research 13, no. 4 (2019): 381–400. http://dx.doi.org/10.1177/0973801019868374.

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This article aims to estimate a forward-looking reaction function for the Central Bank of the Republic of Turkey (CBRT) considering possible asymmetries in the reaction function. For this purpose, it uses quarterly data over the period 2006:1–2018:1 and performs the nonlinear autoregressive distributed lag (NARDL) cointegration test. The findings obtained from the NARDL test indicate that the CBRT has an asymmetric reaction function and considers increases in inflation and decreases in output while adjusting short-term interest rates. Theoretical and practical implications for these findings a
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Angeletos, George-Marios, Fabrice Collard, and Harris Dellas. "Business-Cycle Anatomy." American Economic Review 110, no. 10 (2020): 3030–70. http://dx.doi.org/10.1257/aer.20181174.

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We propose a new strategy for dissecting the macroeconomic time series, provide a template for the business-cycle propagation mechanism that best describes the data, and use its properties to appraise models of both the parsimonious and the medium-scale variety. Our findings support the existence of a main business-cycle driver but rule out the following candidates for this role: technology or other shocks that map to TFP movements; news about future productivity; and inflationary demand shocks of the textbook type. Models aimed at accommodating demand-driven cycles without a strict reliance o
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Chakrabarti, B. B., and Vivek Rajvanshi. "Intraday Periodicity and Volatility Forecasting: Evidence from Indian Crude Oil Futures Market." Journal of Emerging Market Finance 16, no. 1 (2017): 1–28. http://dx.doi.org/10.1177/0972652716686207.

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We estimate intraday periodicities in return volatility by implementing two time series procedures—flexible Fourier form and cubic spline. We use intraday data for more than five years for crude oil futures contracts traded at the Multi Commodity Exchange India Limited. Filtration of the intraday periodicities from the raw returns reveals long-run dependence in volatility. We observe the presence of recurring and consistent intraday patterns in return volatility. Further, we find that adjustment for the intraday periodicity in return volatility improves forecasting performance. Our results are
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Quandt, Richard E. "Measurement and Inference in Wine Tasting." Journal of Wine Economics 1, no. 1 (2006): 7–30. http://dx.doi.org/10.1017/s1931436100001826.

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The paper has three basic objectives: (1) to discuss and analyze the subtleties of ranking wines in blind tastings, (2) to analyze the degree of agreement or disagreement among the tasters (judges) and (3) to shed some light on the problem of identifying the wines and to determine when the identifications of the judges might be called statistically significant. The first issue utilizes the rank sums or the related measure, “votes against,” and discusses the appropriateness of a statistical test introduced by Kramer. The second introduces Kendall's W coefficient of concordance and discusses som
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Gökgöz, Fazil, and Fahrettin Filiz. "Electricity price forecasting in Turkey with artificial neural network models." Investment Management and Financial Innovations 13, no. 3 (2016): 150–58. http://dx.doi.org/10.21511/imfi.13(3-1).2016.01.

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The electricity market has experienced significant changes towards deregulation with the aim of improving economic efficiency. The electricity pricing is a major consideration for consumers and generation companies in deregulated electric markets, so that offering the right price for electricity has become more important. Various methods and ideas have been tried for electricity price forecasting. Artificial neural networks have received much attention with its nonlinear property and many papers have reported successful experiments with them. This paper introduces artificial neural network mod
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Kovač, Mitja. "Duty to renegotiate in international commercial law and uncontemplated behavioural effects." Maastricht Journal of European and Comparative Law 27, no. 4 (2020): 445–64. http://dx.doi.org/10.1177/1023263x20937212.

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This paper explores possible uncontemplated effects and behavioural implications created by duty-to-negotiate provisions in international instruments. More precisely, the paper considers how five different international instruments approach the subject, namely the Convention on Contracts for the International Sale of Goods (CISG), UNIDROIT Principles of International Commercial Contracts (PICC), Principles of European Contract Law (PECL), Draft Common Frame of Reference (DCFR) and Common European Sales Law (CESL). The extent to which these international and European legal instruments correspon
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Ngouhouo, Ibrahim, and Tii Njivukuh Nchofoung. "Does Trade Openness Affects Employment in Cameroon?" Foreign Trade Review 56, no. 1 (2020): 105–16. http://dx.doi.org/10.1177/0015732520961307.

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The objective of this paper is to examine the effect of trade openness on employment in Cameroon. The methodologies used in order to test our hypothesis were the FMOLS and DOLS. The results of the estimations show a positive and significant effect of trade openness on employment in Cameroon with both methods. Indeed, industrialisation and investments were found to significantly increase employment in Cameroon. As recommendations, if Cameroon envisages expanding in international trade, she should encourage sectors that have a spillover effect. These include increasing industrialisation which wi
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Zakaria, Muhammad, and Bashir Ahmed Fida. "Democratic Institutions and Variability of Economic Growth in Pakistan: Some Evidence from the Time-series Analysis." Pakistan Development Review 48, no. 3 (2009): 269–89. http://dx.doi.org/10.30541/v48i3pp.269-289.

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This paper explores the empirical association between democracy and per capita output growth in Pakistan using data for the period 1947 to 2006. The findings of the paper indicate a weak negative association between democracy and output growth. Consistent with some current empirical literature, democracy is also found to influence output growth indirectly. The empirical results are robust to different democracy variables and output growth equation specifications. The empirical findings also highlight the role of other variables in determining output growth and, except for rising oil prices, sh
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Wani, Suadat Hussain, and M. Afzal Mir. "Globalisation and Economic Growth in India: An ARDL Approach." Indian Economic Journal 69, no. 1 (2021): 51–65. http://dx.doi.org/10.1177/00194662211015388.

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This study aims to investigate the relation between globalisation, which includes foreign direct investment (FDI), exports, imports, foreign remittances and economic growth in India. To achieve the said objective, Autoregressive Distributed Lag bounds testing approach has been utilised. The study indicates that imports and FDI positively affect economic growth in India. On the other hand, exports and foreign remittances have negative and significant relationship with economic growth. This suggests that exports and foreign remittances take more time to spillover positive impact on economic perf
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OLUBIYI, E. A., A. RAHEEM, and A. A. ADEMOKOYA. "DYNAMIC EFFECTS OF REMITTANCES ON EXTERNAL RESERVES IN NIGERIA: THE ROLE OF INFLATION AND STRUCTURAL BREAKS." Journal of Humanities, Social Science and Creative Arts 13, no. 1 (2019): 119–41. http://dx.doi.org/10.51406/jhssca.v13i1.1934.

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This study provides additional information about the drivers of external reserves in Nigeria. The result using Autoregressive Distributed Lag (ARDL) model estimation approach for the period 1980-2015 shows that remittances, among other macroeconomic variables, increased external reserves in the short run but weakens it in the long run. Remittances depletes external reserves through its effect on inflation rate and the nonsterilized intervention of the Central Bank. Furthermore, regime shift to relatively floating exchange rate causes remittances to increase reserves. From the foregoing, it is
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38

Audu, Nathan, and Titus Obiezue. "Exchange Rate and Trade in Services Nexus in Nigeria: A Non-Linear ARDL Approach." Athens Journal of Business & Economics 8, no. 1 (2022): 465–82. http://dx.doi.org/10.30958/ajbe.8-1-5.

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A nonlinear ARDL model is employed to investigate the asymmetric drivers of non-oil trade in services between Nigeria and Netherlands. A significant number of past studies have concentrated their attention on the elasticity of trade in services to real exchange rates and income as well as on non-oil export, total export trade or import, yet none have delve into asymmetric relationship. This study aims to fills this void. Our result shows that the effects of exchange rate variations have both positive and negative displays with more negative asymmetry. This provides further insights in the natu
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Duasa, Jarita, and Salina H. Kassim. "Foreign Portfolio Investment and Economic Growth in Malaysia." Pakistan Development Review 48, no. 2 (2009): 109–23. http://dx.doi.org/10.30541/v48i2pp.109-123.

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This study examines the relationship between foreign portfolio investment (FPI) and Malaysia’s economic performance. In particular, the study analyses the relationship between FPI and real gross domestic product (GDP) using the widely adopted Granger causality test and the more recent Toda and Yamamoto’s (1995) non-causality test to establish the direction of causation between the two variables. Similar method is also applied on the relationship between volatility of FPI and real GDP. Additionally, the study uses an innovation accounting by simulating variance decompositions and impulse respon
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Anggraeni, Debby, and Tony Irawan. "Causality Analysis of Producer Price Index (PPI) and Consumer Price Index (CPI) in Indonesia." JURNAL EKONOMI DAN KEBIJAKAN PEMBANGUNAN 7, no. 1 (2018): 60–77. http://dx.doi.org/10.29244/jekp.7.1.60-77.

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This study aims to investigate the relationship between PPI inflation and CPI inflation in Indonesia both in general and for each group of commodity, and to identify whether PPI inflation can be a leading indicator for CPI inflation or vice versa. This study employs Granger causality based on VAR model for monthly data series from January 2010 until August 2016. The results show that there are unidirectional relationship between PPI inflation and CPI inflation generally, bidirectional relationship from PPI inflation to CPI inflation for foodstuffs group, unidirectional from CPI inflation to PP
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Anggraeni, Debby, and Tony Irawan. "Causality Analysis of Producer Price Index (PPI) and Consumer Price Index (CPI) in Indonesia." JURNAL EKONOMI DAN KEBIJAKAN PEMBANGUNAN 7, no. 1 (2018): 60–77. http://dx.doi.org/10.29244/jekp.7.1.2018.60-77.

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This study aims to investigate the relationship between PPI inflation and CPI inflation in Indonesia both in general and for each group of commodity, and to identify whether PPI inflation can be a leading indicator for CPI inflation or vice versa. This study employs Granger causality based on VAR model for monthly data series from January 2010 until August 2016. The results show that there are unidirectional relationship between PPI inflation and CPI inflation generally, bidirectional relationship from PPI inflation to CPI inflation for foodstuffs group, unidirectional from CPI inflation to PP
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Steel, Mark F. J. "Model Averaging and Its Use in Economics." Journal of Economic Literature 58, no. 3 (2020): 644–719. http://dx.doi.org/10.1257/jel.20191385.

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The method of model averaging has become an important tool to deal with model uncertainty, for example in situations where a large amount of different theories exist, as are common in economics. Model averaging is a natural and formal response to model uncertainty in a Bayesian framework, and most of the paper deals with Bayesian model averaging. The important role of the prior assumptions in these Bayesian procedures is highlighted. In addition, frequentist model averaging methods are also discussed. Numerical techniques to implement these methods are explained, and I point the reader to some
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Burange, L. G., Rucha R. Ranadive, and Neha N. Karnik. "Trade Openness and Economic Growth Nexus: A Case Study of BRICS." Foreign Trade Review 54, no. 1 (2018): 1–15. http://dx.doi.org/10.1177/0015732518810902.

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The article analyses a causal relationship between trade openness and economic growth for the member countries of BRICS by using an econometric technique of time series analysis. Member countries of BRICS adopted a series of liberalization reforms, almost simultaneously, from the late 1980s. The article attempts to study the impact of trade openness on their growth in GDP per capita. It captures structural composition of GDP and openness of trade in four aspects, that is, merchandise exports, merchandise imports, services export and services import. In India, the study found growth-led trade i
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Haq, Rashida. "Shocks as a Source of Vulnerability: An Empirical Investigation from Pakistan." Pakistan Development Review 54, no. 3 (2015): 245–72. http://dx.doi.org/10.30541/v54i3pp.245-272.

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The objective of this paper is to investigate the incidence of different types of shocks in rural Pakistan and identify the household characteristics that are associated with this phenomenon. It is observed that one-third of households experience an adverse shock, be it natural/agricultural, economic, social or relating to health. The natural/agricultural shocks have major share in the total burden of shocks while the households‘ coping mechanism is overwhelmingly informal and largely asset-based. The poorest of the households adopt behaviour-based strategies like reducing food consumption, em
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Lewbel, Arthur. "The Identification Zoo: Meanings of Identification in Econometrics." Journal of Economic Literature 57, no. 4 (2019): 835–903. http://dx.doi.org/10.1257/jel.20181361.

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Over two dozen different terms for identification appear in the econometrics literature, including set identification, causal identification, local identification, generic identification, weak identification, identification at infinity, and many more. This survey: (i) gives a new framework unifying existing definitions of point identification; (ii) summarizes and compares the zooful of different terms associated with identification that appear in the literature; and (iii) discusses concepts closely related to identification, such as normalizations and the differences in identification between
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Ahmad, Mohsin Hasnain, Qazi Masood Ahmed, and Zeeshan Atiq. "The Impact of Quality of Institutions on Sectoral FDI." Foreign Trade Review 53, no. 3 (2018): 174–88. http://dx.doi.org/10.1177/0015732517734757.

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This study addresses the issue whether institutional quality affects the sectoral FDI both in short run and long run in Pakistan. By employing ARDL co-integration technique, we analyse the impact of institutional quality on primary, manufacturing and services sectors FDI in Pakistan. The findings suggest that institutional quality matters in attracting FDI in manufacturing and services sectors in the long run while institutional quality does not have a significant impact on FDI in the primary sector. Moreover, results show that the impact of institutional quality on these sectors is not appare
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Faye, Benoît, and Eric Le Fur. "On the Constancy of Hedonic Wine Price Coefficients over Time." Journal of Wine Economics 14, no. 2 (2019): 182–207. http://dx.doi.org/10.1017/jwe.2019.24.

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AbstractThis article tests the stability of the main hedonic wine price coefficients over time. We draw on an extensive literature review to identify the most frequently used methodology and define a standard hedonic model. We estimate this model on monthly subsamples of a worldwide auction database of the most commonly exchanged fine wines. This provides, for each attribute, a monthly time series of hedonic coefficients time series data from 2003 to 2014. Using a multivariate autoregressive model, we then study the stability of these coefficients over time and test the existence of structural
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Moczar, Jozsef. "Közgazdaságtan vagy közgazdaság-tudomány? II. rész." Competitio 8, no. 1 (2009): 76–97. http://dx.doi.org/10.21845/comp/2009/1/5.

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A cikk alapvető kérdése: vajon tudomány-e a közgazdaságtan, és ha igen, akkor tekinthető-e önálló tudománynak? A választ az elmúlt század legfontosabb közgazdasági eredményeiből kiindulva keresi. A szerző arra a következtetésre jut, hogy napjaink főáramú közgazdasági elméletei nagyrészt Ramsey, Neumann és Haavelmo munkáira vezethetők vissza. Tudománnyá válását nagyban elősegítette a matematika és a természettudományok, főleg a fizika eredményeinek alkalmazása. Mindezt Roy E. Weintraub ún. történeti-rekontrukciós módszerével és Lakatos Imre racionális rekonstrukciója segítségével mutatja meg.&#
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Maynard, Leigh J., and Kelly Davidson. "Consumer-Level Determinants of Wine Purchases in Canadian Restaurants." Journal of Wine Economics 4, no. 1 (2009): 10–24. http://dx.doi.org/10.1017/s193143610000064x.

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AbstractLogistic regressions identified determinants of red and white wine purchases in formal and casual restaurants, using a detailed dataset of over 26,000 consumer-level food away-from-home purchases in two Canadian provinces during 2000–2005. Meal context regressors, and prior behavior associated mainly with unobserved heterogeneity, contributed most of the explanatory power, with observable demographic regressors playing a modest role. The main strategic recommendation is thus to focus wine marketing resources on the restaurant environment, with less emphasis on targeting specific audien
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Basu, Sudipta. "How Can Accounting Researchers Become More Innovative?" Accounting Horizons 26, no. 4 (2012): 851–70. http://dx.doi.org/10.2308/acch-10311.

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SYNOPSIS: This essay is based on a presentation at the American Accounting Association Strategy Retreat in May 2011 on the assertion “Accounting research as of 2011 is stagnant and lacking in significant innovation that introduces fresh ideas and insights into our scholarly discipline.” It poses the question “How can accounting researchers become more innovative?” and discusses why accounting researchers may have become less innovative. It also outlines some changes in incentive structures and editorial processes needed to achieve greater innovation in accounting research. JEL Classifications:
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