Studies in Economics and Finance: Volume 18 Issue 1

INFLATION, PRODUCTIVITY, AND MONETARY POLICY: ARE THEY RELATED?

Peter J. Saunders

This paper investigates the short‐run and the long‐run relationship among productivity growth, inflation and monetary policy in the U.S. economy. Under the trivariate ECM…

THE ACCOUNTING VARIABLE AND STOCK PRICE DETERMINATION

Stanley C.W. Salvaiy

Several tests have been conducted to determine which valuation model best fits stock price data. Given very little success, those studies suggest the need for a clear…

ARE THE CPI AND WPI APPROPRIATE MEASURES TO USE FOR TESTING THE PPP HYPOTHESIS?

Marilyn Miller Dutton

This paper evaluates the commonly used CPI and WPI proxies for the real exchange rate by comparing them to new measures constructed from a different data series of traded and…

Dynamic Nature Of Private Investment Function And Its Determinants In Developing Countries

Mohammad Zebib, Michael Muoghalu

This paper suggests that private investment expenditure is determined by the changes in domestic credit and net capital inflow to the private sector. Any increase in government…

STOCK DISTRIBUTION ANNOUNCEMENTS AND BID‐ASK SPREADS

James M. Forjan, Michael S. McCorry

In this paper, the link between stock distribution announcements and capital markets is examined. The results show that stock split announcements result in higher share prices and…

ASYMMETRIC DEMAND INFORMATION IN REGULATION

S. Keith Berry

This paper considers a regulatory model where regulators have less demand information than the firm. Although the firm can over‐earn because of that asymmetry, regulators will…