Recent Submissions

  • Further Tests of Ahn, Khandelwal, and Wei’s (2011) Model of Intermediated Trade 

    Duan J; Qian X; Das K; Meriluoto L; Reed WR (University of Canterbury, Department of Economics and Finance, 2019)
    This study subjects Ahn, Khandelwal, and Wei’s (2011) model of intermediary trade to a series of additional tests. Using data mostly sourced independently from AKW, we demonstrate that we are able to reproduce the evidence ...
  • An investigation of the resource curse in Indonesia 

    Hilmawan R; Clark J (Elsevier BV, 2019)
    We investigate the effect of resource dependence on district level income in a rare within-country study for Indonesia, one of the largest resource producing countries in Asia. We follow 390 districts between 2006 and ...
  • Do Better Informed Investors Always Do Better? A Buyback Puzzle 

    Boyle G; Ward G (Wiley, 2018)
    © 2018 Western Economic Association International We explore the value of private investment information using data from a singular source: auctions of yearling racehorses. Horse breeders possess superior information about ...
  • Public implementation of Blockchain Technology 

    Franklet D; Meriluoto L; Ross G; Scott C; Williams P (2018)
    This paper discusses the avenues through which a public implementation of blockchain could deliver efficiency gains in the running of a government. We discuss some of the current inefficiencies in recordkeeping and the ...
  • Searching for profit-shifting in China 

    Reed WR; Qian X; Tian B; Chen Z (2018)
    This paper investigates profit-shifting behavior among multinational corporations (MNCs) in China. The authors exploit the flat-rate structure of China’s corporate income tax, along with its system of targeted, preferential ...
  • Robots, Job Characteristics and Job Insecurity 

    Coupe T (2018)
    In this paper, I use data from a recent Pew survey to analyse the reasons behind people's fear of losing their job to robots. I find that more people fear losing their job to other people than fear losing it to robots, ...
  • An Investigation of the Resource Curse in Indonesia 

    Clark JE; Hilmawan R (RePEc, 2018)
    We investigate the effect of resource dependence on district level income in a rare within-country study for Indonesia, one of the largest resource producing countries in Asia. We follow 390 districts between 2006 and ...
  • A Replication of “Are Competitive Banking Systems More Stable?” (Journal of Money, Credit, and Banking, 2009) 

    Das KK; Bandarnayake S; Reed WR (2017)
    This study replicates Schaeck, Čihák, and Wolfe (2009), henceforth SCW, and performs a variety of robustness checks. Using a cross-country, time series sample of 45 countries from 1980-2005, SCW investigate the relationship ...
  • International Evidence on the Role of Monetary Policy in the Uncovered Interest Rate Parity Puzzle 

    Guender, A.V. (University of Canterbury. Department of Economics and Finance, 2013)
  • What to Aim for? The Choice of an Inflation Objective when Openness Matters 

    Froyen, R.T.; Guender, A.V. (University of Canterbury. Department of Economics and Finance, 2016)
    Inflation targeting countries generally define the inflation objective in terms of the consumer price index. Studies in the academic literature, however, reach conflicting conclusions concerning which measure of inflation ...
  • Financial Markets in the Face of the Apocalypse 

    Bialkowski, J.; Ronn E. (University of Canterbury. Department of Economics and Finance, 2016)
    This paper brings together two strands of the literature: Quantifying the impact of apocalyptic risk on capital markets, and the correct computation of the equity risk premium. For the former, we use events in four ...
  • What to Aim For? The Choice of an Inflation Objective When Openness Matters 

    Froyen, R.T.; Guender, A.V. (University of Canterbury. Department of Economics and Finance, 2013)
    Inflation targeting countries generally define the inflation objective in terms of the consumer price index. Studies in the academic literature, however, reach conflicting conclusions concerning which measure of inflation ...
  • International Evidence on the Role of Monetary Policy in the Uncovered Interest Rate Parity Puzzle 

    Guender, A.V. (University of Canterbury. Department of Economics and Finance, 2015)
    CPI inflation targeting necessitates a flexible exchange rate regime. This paper embeds an endogenous target rule into a simple open economy macro model to explain the UIP puzzle. The model predicts that the change in the ...
  • Modeling the Effects of Oil Prices on Global Fertilizer Prices and Volatility 

    Chen, P-Y.; Chang, C-L.; Chen, C-C.; McAleer, M. (University of Canterbury. Department of Economics and Finance, 2013)
    The main purpose of this paper is to evaluate the effect of crude oil price on global fertilizer prices in both the mean and volatility. The endogenous structural breakpoint unit root test, ARDL model, and alternative ...
  • Ten Things You Should Know About the Dynamic Conditional Correlation Representation 

    Caporin, M.; McAleer, M. (University of Canterbury. Department of Economics and Finance, 2013)
    The purpose of the paper is to discuss ten things potential users should know about the limits of the Dynamic Conditional Correlation (DCC) representation for estimating and fore-casting time-varying conditional correlations. ...
  • Herding, Information Cascades and Volatility Spillovers in Futures Markets 

    McAleer, M.; Radalj, K. (University of CanterburyUniversity of Canterbury. Department of Economics and Finance, 2013)
    Economists and financial analysts have begun to recognise the importance of the actions of other agents in the decision-making process. Herding is the deliberate mimicking of the decisions of other agents. Examples of ...
  • Transaction Costs, the Opportunity Cost of Time and Inertia in Charitable Giving 

    Knowles, S.; Servátka, M. (University of Canterbury. Department of Economics and Finance, 2014)
    We conduct a laboratory experiment to analyze the effect transactions costs and inertia have on charitable giving. We conjecture that transaction costs will have a greater effect on donations if the solicitation is ...
  • An Application of Correlation Clustering to Portfolio Diversification 

    Zhan, H.C.J.; Rea, W.; Rea, A. (University of Canterbury. Department of Economics and FinanceUniversity of Canterbury. Mathematics and Statistics, 2014)
    This paper presents a novel application of software developed for constructing a phylogenetic network to the correlation matrix for 126 stocks listed on the Shanghai A Stock Market. We show that by visualizing the ...
  • On the Invertibility of EGARCH 

    Martinet, G.G.; McAleer, M. (University of CanterburyUniversity of Canterbury. Department of Economics and Finance, 2014)
    Of the two most widely estimated univariate asymmetric conditional volatility models, the exponential GARCH (or EGARCH) specification can capture asymmetry, which refers to the different effects on conditional volatility ...
  • What Do Experts Know About Forecasting Journal Quality? A Comparison with ISI Research Impact in Finance 

    Chang, C-L.; McAleer, M. (University of CanterburyUniversity of Canterbury. Department of Economics and Finance, 2013)
    Experts possess knowledge and information that are not publicly available. The paper is concerned with forecasting academic journal quality and research impact using a survey of international experts from a national project ...

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