Encyclopedia of Economics Research (2 Volume Set)


Jonathan N. Kurtz (Editor)

Series: Economic Issues, Problems and Perspectives
BISAC: BUS069000

This book presents and discusses current research in the field of economics. Topics discussed include labor market imperfections and endogenous business cycles; invariance in economic dynamics; interest rates in stochastic production economies; a cost of capital analysis of gains from securitization; modeling and forecasting income tax revenue; equity markets and economic development; links between monetary policy, inflation, output and unemployment in the euro zone; expansion of mean-variance analysis in emerging equity markets and security markets in emerging economies. (Imprint: Nova)



Table of Contents



Chapter 1: Transitional Dynamics and Welfare Effects of the Public Investment
(Gustavo A. Marrero, Dept. de Fundamentos del Analisis Economico, Univ. de la Laguna, Spain) (pp. 1-30)

Chapter 2: Levy Processes and Option Pricing by Recursive Quadrature
(Gianluca Fusai, Dipart. SEMeQ Univ. del Piemonte Orientale, Novara, Italy, Giovanni Longo, Dipartimento SEMeQ, Univ. del Piemonte Orientale, Novara, Italy, Marina Marena, Dipartimento De Castro, Univ. di Torino, Torino, Italy, Maria Cristina Recchioni, Dipartimento di Scienze Sociali “D. Serrani”, Univ. Politecnica delle Marche, Ancona, Italy) (pp. 31-58)

Chapter 3: Labor Market Imperfections and Endogenous Business Cycles
(Alvaro Rodriguez, Dept. of Economics, Rutgers Univ., Univ. Heights, Newark, New Jersey) (pp.59-76)

Chapter 4: Analyzing Economic Policy Using High Order Perturbations
(Michael Ben-Gad, Dept. of Economics, City Univ., London, UK)(pp. 77-98)

Chapter 5: Invariance in Economic Dynamics and the Sustainable Development Issue
(Vincent Martinet, INRA – UMR Economie Publique, Gilles Rotillon, EconomiX, Univ. Paris X) (pp. 99-120)

Chapter 6: Endogenous Capital Utilization and Depreciation under Capital Maintenance in the AK Growth
(J. Aznar-Marquez, Univ. Miguel Hernandez, Spain, Edifici Galia, Spain) (pp. 121-134)

Chapter 7: Social Status, the Spirit of Capitalism, and the Term Structure of Interest Rates in Stochastic Production Economies
(Liutang Gong, Guanghua School of Management, Peking Univ., Beijing, China, Institute for Advanced Study, Wuhan Univ., Wuhan, China, Yulei Luo, School of Economics and Finance, Univ. of Hong Kong, Hong Kong, Heng-fu Zou, Institute for Advanced Study, Wuhan Univ., Wuhan, China, Development Research Group, Washington, DC) (pp. 135-156)

Chapter 8: On the Investment-Uncertainty Relationship
(Kit Pong W, Kit Pong Wong, School of Economics and Finance, Univ. of Hong Kong, Hong Kong) (pp. 157-170)

Chapter 9: Realized Volatility and Correlation Estimators under Non-Gaussian Microstructure Noise
(Amir Safari, Institute of Applied Informatics and Formal Description Methods, Univ. of Karlsruhe, Germany, Wei Sun, Institute for Statistics and Mathematical Economics, Univ. of Karlsruhe, Germany, Detlef Seese, Institute of Applied Informatics and Formal Description Methods, Univ. of Karlsruhe, Germany, Svetlozar Rachev, Institute of Statistics and Mathematical Economics, Univ. of Karlsruhe, Germany, Dept. of Statistics and Applied Probability, Univ. of California, Santa Barbara, CA) (pp. 171-198)

Chapter 10: Why Increased Knowledge Does Not Necessarily Improve Trading Success: A Monte-Carlo Simulation
(Jurgen Huber, Michael Kirchler, Univ. of Innsbruck, Dept. of Banking and Finance, Innsbruck, Austria) (pp. 199-208)

Chapter 11: Temporal Disaggregation of Time Series: A Review
(Jose M. Pavía, Department of Applied Economics,University of Valencia, Spain) (pp. 209-236)

Chapter 12: Econometric Modeling and Forecasting of Private Housing Demand
(James M.W. Wong and S. Thomas Ng, Department of Civil Engineering, The University of Hong Kong, Hong Kong)(pp. 237-262)

Chapter 13: Signal and Noise Decomposition of Nonstationary Time Series
(Terence C. Mills, Department Of Economics, Loughborough University, UK)(pp. 263-314)

Chapter 14: A Cost of Capital Analysis of the Gains from Securitization
(Hugh Thomas and Zhiqiang Wang, The Chinese University of Hong Kong, Hong Kong SAR, China and others) (pp. 315-342)

Chapter 15: The Nonparametric Time-Detrended Fisher Effect
(Heather L. R. Tierney, Department of Economics and Finance, College of Charleston, Charleston, SC) (pp. 343-370)

Chapter 16: Forecasting Ability and Strategic Behavior of Japanese Institutional Forecasters
(Masahiro Ashiya, Faculty of Economics, Kobe University, Kobe, Japan)(pp. 371-388)

Chapter 17: Qualitative Survey Data on Expectations: Is There an Alternative to the Balance Statistic?
(Oscar Claveria, Research Institute of Applied Economics (IREA), University of Barcelona, Barcelona (Spain)) (pp. 389-398)

Chapter 18: Analyst Origin and their Forecasting Quality on the Latin American Stock Markets
(Jean-Francois Bacmann, Huobstrasse, Pfaffikon SZ, Guido Bolliger, Rue Balzac, Paris) (pp. 399-420)


Chapter 19: Modeling and Forecasting Income Tax Revenue: The Case of Uzbekistan
(Marat Ibragimov, Nishanbay Sirajiddinov, Center for Economic; Research, Tashkent, Uzbekistan, Rustam Ibragimov, Harvard Univ., Cambridge) (pp. 421-436)

Chapter 20: Forecasting the Unconditional and Conditional Kurtosis of the Asset Returns Distribution
(Trino Manuel Niguez, Javier Perote, Antonio Rubia, Department of Economics and Quantitative Methods, Westminster Business School, University of Westminster, London, UK and others) (pp. 437-456)

Chapter 21: Transportýng Turkýsh Exam Takers: A New Use for an Old Model
(Nurhan Davutyan and Mert C. Demir, Department of Industrial Engineering, Marmara University-Goztepe Campus 34722, Istanbul, Turkey) (pp. 457-470)

Chapter 22: Measurement Problems in Global Financial Reporting: The Need for a Stable Composite Currency
(Nikolai V. Hovanov, James W. Kolari, Mikhail V. Sokolov, St. Petersburg State Univ., Texas A & M Univ.) (pp. 471-486)

Chapter 23: Equity Markets and Economic Development: What Do We Know?
(Thomas Lagoarde-Segot, Institute for International Integration Studies, School of Business, Trinity College, Univ. de la Mediterranee, Brian M. Lucey, School of Business Studies and Institute for International Integration Studies, Trinity College Dublin) (pp. 487-528)

Chapter 24: Dynamic Linkages between U.S. Portfolio Equity Flows and Equity Returns in China and India
(Joseph J. French, School of Finance and Quantitative Methods, Kenneth W. Monfort College of Business, Univ. of Northern Colorado, Greely, CO, Atsuyuki Naka, Dept. of Economics and Finance, College of Business Administration, Univ. of New Orleans, New Orleans, LA) (pp. 529-560)

Chapter 25: On the Linkages between Monetary Policy, Inflation, Output and Unemployment in the Euro Zone
(Priti Verma, College of Business, Texas A & M Univ., Kingsville, TX, Rahul Verma, College of Business, Univ. of Houston-Downtown, Houston, TX) (pp. 561-576)

Chapter 26: Expansion of Mean-Variance Analysis in Emerging Equity Markets
(Yasuaki Watanabe, Stanford Univ. Graduate School of Business, Japan Research Institute) (pp. 577-592)

Chapter 27: An Empirical Test of the Consumption-Based Asset Pricing Model (CCAPM) in Latin America
(Guilherme Kirch, FEEVALE Univ. College, Institute of Applied Social Sciences, Novo Hamburgo RS, Brazil, Paulo Renato Soares Terra, UFRGS Univ., Univ. Federal do Rio Grande do Sul, School of Management, Porto Alegre RS, Brazil, Tiago Wickstrom Alves, UNISINOS Univ., Univ. do Vale Do Rio dos Sinos, Sao Leopoldo RS, Brazil) (pp. 593-630)

Chapter 28: Rational Bubbles in Istanbul Stock Exchange: Linear and Nonlinear Unit Root Tests
(Erdinc Altay, Istanbul Univ., Dept. of Business Administration) (pp. 631-664)

Chapter 29: Analyst Origin and their Forecasting Quality on the Latin American Stock Markets
(Jean-Francois Bacmann, Huobstrasse, Pfaffikon SZ, Guido Bolliger, Rue Balzac, Paris) (pp. 665-686)

Chapter 30: Securities Markets in Emerging Economies: An Overview of the Main Issues
(Silvio John Camilleri, Banking and Finance Dept.-FEMA, Univ. of Malta) (pp. 687-700)

Chapter 31: Frequency-domain versus Time-Domain Estimates of Risk Aversion from the C-CAPM: The Case of Latin American Emerging Markets
(Ekaterini Panopoulou, Univ. of Piraeus, Greece & Trinity College, Dublin) (pp. 701-716)

Chapter 32: Momentum and Market States in Latin American Emerging Markets
(Luis Muga, Rafael Santamaria, Public Univ. of Navarre) (pp.717-738)

Chapter 33: Emerging Bonds Markets Crises and Contagion: Extreme Dependence
(Diego Nicolas Lopez, Banco de Bogota) (pp. 739-778)

Chapter 34: Do Dividends Matter for Stock Returns? Evidence from the Brazilian Market
(Andre Carvalhal da Silva, Coppead Graduate School of Business, Federal Univ. of Rio de Janeiro, Rio de Janeiro, RJ, Brazil) (pp. 779-790)

Chapter 35: Corporate Financial Performance and Market Reaction to Employee Stock Ownership Plans in Taiwan
(Wei-Ning Chen, Dept. of International Business, Kainan Univ., Taiwan, Dar-Hsin Chen, Dept. of Business Adminstration, National Taipei Univ., Taiwan, Po-Wei Lu, Graduate Institute of Banking and Finance, Tamkang Univ., Taiwan) (pp. 791-812)

Chapter 36: Monetary Policy and Diversification Benefits of Investing in Emerging Markets
(Partha Gangopadhyay, St. Cloud State Univ., Minnesota) (pp. 813-814)

Chapter 37: Impact of Globalization on the Integration of Arab Stock Exchanges
(Shahira Abdel Shahid, Cairo & Alexandria Stock Exchanges (CASE), Cairo, Egypt) (pp. 815-818)

Index (pp. 819-839)

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