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class="js-work-strip profile--work_container" data-work-id="122914918"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/122914918/Earnings_management_capital_management_signalling_and_the_Covid_19_pandemic_the_case_of_listed_banks_in_the_United_States"><img alt="Research paper thumbnail of Earnings management, capital management, signalling and the Covid-19 pandemic: the case of listed banks in the United States" class="work-thumbnail" src="https://attachments.academia-assets.com/117475671/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/122914918/Earnings_management_capital_management_signalling_and_the_Covid_19_pandemic_the_case_of_listed_banks_in_the_United_States">Earnings management, capital management, signalling and the Covid-19 pandemic: the case of listed banks in the United States</a></div><div class="wp-workCard_item"><span>Pressacademia</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Purpose- This paper investigates earnings management, capital management, the impact of the Covid...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Purpose- This paper investigates earnings management, capital management, the impact of the Covid-19 pandemic and signalling by United States listed banks of loan loss provisions. This study is particularly important because there is a relative dearth of research in banking on these topics and thus remain considerably under researched. Methodology- The dataset comprises a pooled cross-sectional and time series data for a sample of 249 U.S. listed banks for the period 2015 to 2020 consisting of 1,494 observations. A panel data analysis is conducted. Findings- Results overall show no evidence of systematic earnings management, capital management or signaling by the banks. Findings reveal the impact of the Covid-19 pandemic is not significant during this period of economic fragility for listed banks. The elasticity of loan loss provisions with regards to the annual growth in gross domestic product is negative and statistically significant overall. This is evidence that U.S. listed bank...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="1c6081eb6b6e666609d50826dd8c541a" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":117475671,"asset_id":122914918,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/117475671/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="122914918"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="122914918"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 122914918; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=122914918]").text(description); $(".js-view-count[data-work-id=122914918]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 122914918; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='122914918']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "1c6081eb6b6e666609d50826dd8c541a" } } $('.js-work-strip[data-work-id=122914918]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":122914918,"title":"Earnings management, capital management, signalling and the Covid-19 pandemic: the case of listed banks in the United States","translated_title":"","metadata":{"abstract":"Purpose- This paper investigates earnings management, capital management, the impact of the Covid-19 pandemic and signalling by United States listed banks of loan loss provisions. This study is particularly important because there is a relative dearth of research in banking on these topics and thus remain considerably under researched. Methodology- The dataset comprises a pooled cross-sectional and time series data for a sample of 249 U.S. listed banks for the period 2015 to 2020 consisting of 1,494 observations. A panel data analysis is conducted. Findings- Results overall show no evidence of systematic earnings management, capital management or signaling by the banks. Findings reveal the impact of the Covid-19 pandemic is not significant during this period of economic fragility for listed banks. The elasticity of loan loss provisions with regards to the annual growth in gross domestic product is negative and statistically significant overall. 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This is evidence that U.S. listed bank...","internal_url":"https://www.academia.edu/122914918/Earnings_management_capital_management_signalling_and_the_Covid_19_pandemic_the_case_of_listed_banks_in_the_United_States","translated_internal_url":"","created_at":"2024-08-15T18:50:58.794-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":117475671,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/117475671/thumbnails/1.jpg","file_name":"pressacademia.2023.pdf","download_url":"https://www.academia.edu/attachments/117475671/download_file","bulk_download_file_name":"Earnings_management_capital_management_s.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/117475671/pressacademia.2023-libre.pdf?1723775799=\u0026response-content-disposition=attachment%3B+filename%3DEarnings_management_capital_management_s.pdf\u0026Expires=1743223451\u0026Signature=c8wBaAeEGTyrf~FENQpCjOCtEepbgqBakn-3VyrYvSWSidhoN-gqgKk~NWNrR4NDyWNOXf1eUyjabtb6vX0hSbK1TwMsdspuHNMEqGHEu7-Rgs5pbg8wMfCqIUQ5ySbaUOkf2BxM61YxIpd2bg2TtOHojnJCgu2ar1Z1fNi5RNifPne3nmDTNsClZeTXB54CQCSqGA~2s7J1w9Pn21BzYfsmAhQytfsw884efd4KdZbpykGI6BShbxpv0-1JhgFoNfJwQQmkstA~qTGjjmR-jc-ykN-GDro52OttU231XQ0proENWTAfVq7fskGU6J-ji5tIe5XXG4Qn-1cWprm5oA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Earnings_management_capital_management_signalling_and_the_Covid_19_pandemic_the_case_of_listed_banks_in_the_United_States","translated_slug":"","page_count":12,"language":"en","content_type":"Work","summary":"Purpose- This paper investigates earnings management, capital management, the impact of the Covid-19 pandemic and signalling by United States listed banks of loan loss provisions. This study is particularly important because there is a relative dearth of research in banking on these topics and thus remain considerably under researched. Methodology- The dataset comprises a pooled cross-sectional and time series data for a sample of 249 U.S. listed banks for the period 2015 to 2020 consisting of 1,494 observations. A panel data analysis is conducted. Findings- Results overall show no evidence of systematic earnings management, capital management or signaling by the banks. Findings reveal the impact of the Covid-19 pandemic is not significant during this period of economic fragility for listed banks. The elasticity of loan loss provisions with regards to the annual growth in gross domestic product is negative and statistically significant overall. This is evidence that U.S. listed bank...","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[{"id":117475671,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/117475671/thumbnails/1.jpg","file_name":"pressacademia.2023.pdf","download_url":"https://www.academia.edu/attachments/117475671/download_file","bulk_download_file_name":"Earnings_management_capital_management_s.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/117475671/pressacademia.2023-libre.pdf?1723775799=\u0026response-content-disposition=attachment%3B+filename%3DEarnings_management_capital_management_s.pdf\u0026Expires=1743223451\u0026Signature=c8wBaAeEGTyrf~FENQpCjOCtEepbgqBakn-3VyrYvSWSidhoN-gqgKk~NWNrR4NDyWNOXf1eUyjabtb6vX0hSbK1TwMsdspuHNMEqGHEu7-Rgs5pbg8wMfCqIUQ5ySbaUOkf2BxM61YxIpd2bg2TtOHojnJCgu2ar1Z1fNi5RNifPne3nmDTNsClZeTXB54CQCSqGA~2s7J1w9Pn21BzYfsmAhQytfsw884efd4KdZbpykGI6BShbxpv0-1JhgFoNfJwQQmkstA~qTGjjmR-jc-ykN-GDro52OttU231XQ0proENWTAfVq7fskGU6J-ji5tIe5XXG4Qn-1cWprm5oA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":26,"name":"Business","url":"https://www.academia.edu/Documents/in/Business"},{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance"},{"id":422,"name":"Computer Science","url":"https://www.academia.edu/Documents/in/Computer_Science"},{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":738,"name":"Monetary Economics","url":"https://www.academia.edu/Documents/in/Monetary_Economics"},{"id":747,"name":"Econometrics","url":"https://www.academia.edu/Documents/in/Econometrics"},{"id":760,"name":"Microeconomics","url":"https://www.academia.edu/Documents/in/Microeconomics"},{"id":2008,"name":"Machine Learning","url":"https://www.academia.edu/Documents/in/Machine_Learning"},{"id":3490,"name":"Accounting","url":"https://www.academia.edu/Documents/in/Accounting"},{"id":5775,"name":"Earnings Management","url":"https://www.academia.edu/Documents/in/Earnings_Management"},{"id":40860,"name":"Panel Data","url":"https://www.academia.edu/Documents/in/Panel_Data"},{"id":63444,"name":"Financial System","url":"https://www.academia.edu/Documents/in/Financial_System"},{"id":88182,"name":"Loan","url":"https://www.academia.edu/Documents/in/Loan"},{"id":304918,"name":"Earnings","url":"https://www.academia.edu/Documents/in/Earnings"},{"id":361468,"name":"Capital Adequacy Ratio","url":"https://www.academia.edu/Documents/in/Capital_Adequacy_Ratio"},{"id":546088,"name":"Economics and Business \u0026 Finance","url":"https://www.academia.edu/Documents/in/Economics_and_Business_and_Finance"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-122914918-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="121346669"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/121346669/Do_OECD_Health_Expenditures_Converge_Econometric_Evidence_from_Recent_Panel_Stationarity_Tests"><img alt="Research paper thumbnail of Do OECD Health Expenditures Converge? Econometric Evidence from Recent Panel Stationarity Tests" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Do OECD Health Expenditures Converge? Econometric Evidence from Recent Panel Stationarity Tests</div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121346669"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121346669"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121346669; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121346669]").text(description); $(".js-view-count[data-work-id=121346669]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121346669; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121346669']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=121346669]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121346669,"title":"Do OECD Health Expenditures Converge? Econometric Evidence from Recent Panel Stationarity Tests","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2013,"errors":{}}},"translated_abstract":null,"internal_url":"https://www.academia.edu/121346669/Do_OECD_Health_Expenditures_Converge_Econometric_Evidence_from_Recent_Panel_Stationarity_Tests","translated_internal_url":"","created_at":"2024-06-21T16:47:20.254-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"Do_OECD_Health_Expenditures_Converge_Econometric_Evidence_from_Recent_Panel_Stationarity_Tests","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":747,"name":"Econometrics","url":"https://www.academia.edu/Documents/in/Econometrics"},{"id":40860,"name":"Panel Data","url":"https://www.academia.edu/Documents/in/Panel_Data"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-121346669-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="112291305"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/112291305/Testing_for_explosive_bubbles_in_the_South_African_US_exchange_rate_using_the_sequential_ADF_procedures"><img alt="Research paper thumbnail of Testing for explosive bubbles in the South African-US exchange rate using the sequential ADF procedures" class="work-thumbnail" src="https://attachments.academia-assets.com/109565925/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/112291305/Testing_for_explosive_bubbles_in_the_South_African_US_exchange_rate_using_the_sequential_ADF_procedures">Testing for explosive bubbles in the South African-US exchange rate using the sequential ADF procedures</a></div><div class="wp-workCard_item"><span>Banks and Bank Systems</span><span>, 2017</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper tests for the existence of speculative bubbles in the South African-US exchange rate u...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper tests for the existence of speculative bubbles in the South African-US exchange rate using the sequential ADF procedures. In particular, the paper uses the SADF and GSADF right-tailed unit root tests to explore the existence of explosive bubbles in the South African-US exchange rate for the time period running from January1980 through July 2012. The results provide evidence in support of the existence of explosive bubbles in the nominal rand-dollar exchange rate, the real exchange rate of traded and non-traded goods. The explosive behavior exhibited by the South African rand-US dollar exchange rate can be interpreted as evidence of rational bubbles given that this behavior is driven by the fundamentals including relative prices of traded and non-traded goods.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="6227c5efeb8cc77044c0fd5b8847ceef" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":109565925,"asset_id":112291305,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/109565925/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="112291305"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="112291305"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 112291305; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=112291305]").text(description); $(".js-view-count[data-work-id=112291305]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 112291305; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='112291305']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "6227c5efeb8cc77044c0fd5b8847ceef" } } $('.js-work-strip[data-work-id=112291305]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":112291305,"title":"Testing for explosive bubbles in the South African-US exchange rate using the sequential ADF procedures","translated_title":"","metadata":{"abstract":"This paper tests for the existence of speculative bubbles in the South African-US exchange rate using the sequential ADF procedures. In particular, the paper uses the SADF and GSADF right-tailed unit root tests to explore the existence of explosive bubbles in the South African-US exchange rate for the time period running from January1980 through July 2012. The results provide evidence in support of the existence of explosive bubbles in the nominal rand-dollar exchange rate, the real exchange rate of traded and non-traded goods. The explosive behavior exhibited by the South African rand-US dollar exchange rate can be interpreted as evidence of rational bubbles given that this behavior is driven by the fundamentals including relative prices of traded and non-traded goods.","publisher":"LLC CPC Business Perspectives","publication_date":{"day":null,"month":null,"year":2017,"errors":{}},"publication_name":"Banks and Bank Systems"},"translated_abstract":"This paper tests for the existence of speculative bubbles in the South African-US exchange rate using the sequential ADF procedures. 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The explosive behavior exhibited by the South African rand-US dollar exchange rate can be interpreted as evidence of rational bubbles given that this behavior is driven by the fundamentals including relative prices of traded and non-traded goods.","internal_url":"https://www.academia.edu/112291305/Testing_for_explosive_bubbles_in_the_South_African_US_exchange_rate_using_the_sequential_ADF_procedures","translated_internal_url":"","created_at":"2023-12-25T15:03:13.794-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":109565925,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/109565925/thumbnails/1.jpg","file_name":"BBS_2017_01_cont_Elike.pdf","download_url":"https://www.academia.edu/attachments/109565925/download_file","bulk_download_file_name":"Testing_for_explosive_bubbles_in_the_Sou.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/109565925/BBS_2017_01_cont_Elike-libre.pdf?1703545458=\u0026response-content-disposition=attachment%3B+filename%3DTesting_for_explosive_bubbles_in_the_Sou.pdf\u0026Expires=1743223451\u0026Signature=EJkCMeq385TqcPZmKGKoMgRLi9GobXdwgJ-UyUCOL2aNGqSr6pgvH4omtqS1bj5XQj3smvBkN0EE1zkiSVE49jSyOAAhV4LsCiT8aTaam0AkyfAXraB9hl4cDYjSLPrLUjjLf44tsNe4Eae2AQiDr8c3wKmTs7ZOnwq4-9SsAlXW1w6r3vI1YwUg-XHuJlv4eS02KbgQOr8TPF4EnLkRcJc~b9qzy7bDokQ7ZAru927ehTS47E1fkxCy~cinLWUgxMWRPO5ivSFDpo7y~L6wul4mFju5mEiRYqBZCc7f-PyLUBVhtrz~eQjaHMyiD5eUo13oalv9gzDrNqmfwXQFyA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Testing_for_explosive_bubbles_in_the_South_African_US_exchange_rate_using_the_sequential_ADF_procedures","translated_slug":"","page_count":9,"language":"en","content_type":"Work","summary":"This paper tests for the existence of speculative bubbles in the South African-US exchange rate using the sequential ADF procedures. 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The explosive behavior exhibited by the South African rand-US dollar exchange rate can be interpreted as evidence of rational bubbles given that this behavior is driven by the fundamentals including relative prices of traded and non-traded goods.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[{"id":109565925,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/109565925/thumbnails/1.jpg","file_name":"BBS_2017_01_cont_Elike.pdf","download_url":"https://www.academia.edu/attachments/109565925/download_file","bulk_download_file_name":"Testing_for_explosive_bubbles_in_the_Sou.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/109565925/BBS_2017_01_cont_Elike-libre.pdf?1703545458=\u0026response-content-disposition=attachment%3B+filename%3DTesting_for_explosive_bubbles_in_the_Sou.pdf\u0026Expires=1743223451\u0026Signature=EJkCMeq385TqcPZmKGKoMgRLi9GobXdwgJ-UyUCOL2aNGqSr6pgvH4omtqS1bj5XQj3smvBkN0EE1zkiSVE49jSyOAAhV4LsCiT8aTaam0AkyfAXraB9hl4cDYjSLPrLUjjLf44tsNe4Eae2AQiDr8c3wKmTs7ZOnwq4-9SsAlXW1w6r3vI1YwUg-XHuJlv4eS02KbgQOr8TPF4EnLkRcJc~b9qzy7bDokQ7ZAru927ehTS47E1fkxCy~cinLWUgxMWRPO5ivSFDpo7y~L6wul4mFju5mEiRYqBZCc7f-PyLUBVhtrz~eQjaHMyiD5eUo13oalv9gzDrNqmfwXQFyA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":402,"name":"Environmental Science","url":"https://www.academia.edu/Documents/in/Environmental_Science"},{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":747,"name":"Econometrics","url":"https://www.academia.edu/Documents/in/Econometrics"},{"id":228986,"name":"Exchange rate","url":"https://www.academia.edu/Documents/in/Exchange_rate"},{"id":511649,"name":"Unit Root","url":"https://www.academia.edu/Documents/in/Unit_Root"},{"id":3079415,"name":"Finance and Investment Banking","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking"}],"urls":[{"id":37732082,"url":"https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/8632/BBS_2017_01_cont_Elike.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-112291305-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110799147"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/110799147/Asymmetric_dynamics_in_current_account_interest_rate_nexus_evidence_from_Asian_countries"><img alt="Research paper thumbnail of Asymmetric dynamics in current account - interest rate nexus: evidence from Asian countries" class="work-thumbnail" src="https://attachments.academia-assets.com/108505197/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/110799147/Asymmetric_dynamics_in_current_account_interest_rate_nexus_evidence_from_Asian_countries">Asymmetric dynamics in current account - interest rate nexus: evidence from Asian countries</a></div><div class="wp-workCard_item"><span>Investment management & financial innovations</span><span>, 2017</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper uses cointegration and asymmetric error correction models to examine the relationship ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper uses cointegration and asymmetric error correction models to examine the relationship between current account and interest rate for India, Korea, the Philippines, and Thailand. Specifically, the paper uses a battery of linearity tests including BDS, Hinich, and White procedures to determine whether or not current account and interest rate exhibit asymmetric behavior. The NLADF is applied to determine the time series properties of current account and interest rate. Nonlinear cointegration is conducted through the TAR and M-TAR models. For asymmetric adjustment, the paper implemented the Enders and Granger nonlinear error correction model. The results from the various linearity tests suggest that current account and interest rate for the sample countries exhibit nonlinear behavior. Further, the results from the TAR and M-TAR nonlinear cointegration procedures provide evidence in support of equilibrium longrun relationship between current account and interest rate. The resul...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="20d58ef7552777e1960eb95f050a8a93" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":108505197,"asset_id":110799147,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/108505197/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110799147"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110799147"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110799147; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110799147]").text(description); $(".js-view-count[data-work-id=110799147]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110799147; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110799147']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "20d58ef7552777e1960eb95f050a8a93" } } $('.js-work-strip[data-work-id=110799147]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110799147,"title":"Asymmetric dynamics in current account - interest rate nexus: evidence from Asian countries","translated_title":"","metadata":{"abstract":"This paper uses cointegration and asymmetric error correction models to examine the relationship between current account and interest rate for India, Korea, the Philippines, and Thailand. 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$(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218687-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218680"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/110218680/Nonlinearity_and_the_Unit_Root_Hypothesis_for_African_Per_Capita_Real_GDP"><img alt="Research paper thumbnail of Nonlinearity and the Unit Root Hypothesis for African Per Capita Real GDP" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Nonlinearity and the Unit Root Hypothesis for African Per Capita Real GDP</div><div class="wp-workCard_item"><span>International Economic Journal</span><span>, Sep 22, 2015</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Abstract Once described as an epic center of growth tragedy, African nations have lately achieved...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Abstract Once described as an epic center of growth tragedy, African nations have lately achieved relatively rapid growth rates, which have raised hopes that the continent is finally on the path to economic convergence with other emerging economies. However, there is a need to establish whether stabilization policies for the purpose of enhancing the GDP are effective in African countries. One of the means of examining the effectiveness of these policies is through the investigation of the unit root properties of per capita GDP in the continent. This study aims to add to the existing papers on GDP in African countries by investigating the non-stationarity of per capita GDP in 52 African countries, while using a newly proposed nonlinear unit root test. The results suggest that per capita GDP follows the non-stationarity process in half of the entire sample.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218680"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218680"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218680; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218680]").text(description); $(".js-view-count[data-work-id=110218680]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218680; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218680']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=110218680]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218680,"title":"Nonlinearity and the Unit Root Hypothesis for African Per Capita Real GDP","translated_title":"","metadata":{"abstract":"Abstract Once described as an epic center of growth tragedy, African nations have lately achieved relatively rapid growth rates, which have raised hopes that the continent is finally on the path to economic convergence with other emerging economies. However, there is a need to establish whether stabilization policies for the purpose of enhancing the GDP are effective in African countries. One of the means of examining the effectiveness of these policies is through the investigation of the unit root properties of per capita GDP in the continent. This study aims to add to the existing papers on GDP in African countries by investigating the non-stationarity of per capita GDP in 52 African countries, while using a newly proposed nonlinear unit root test. The results suggest that per capita GDP follows the non-stationarity process in half of the entire sample.","publisher":"Taylor \u0026 Francis","publication_date":{"day":22,"month":9,"year":2015,"errors":{}},"publication_name":"International Economic Journal"},"translated_abstract":"Abstract Once described as an epic center of growth tragedy, African nations have lately achieved relatively rapid growth rates, which have raised hopes that the continent is finally on the path to economic convergence with other emerging economies. However, there is a need to establish whether stabilization policies for the purpose of enhancing the GDP are effective in African countries. One of the means of examining the effectiveness of these policies is through the investigation of the unit root properties of per capita GDP in the continent. 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The results suggest that per capita GDP follows the non-stationarity process in half of the entire sample.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":511649,"name":"Unit Root","url":"https://www.academia.edu/Documents/in/Unit_Root"},{"id":541021,"name":"Unit Root Test","url":"https://www.academia.edu/Documents/in/Unit_Root_Test"},{"id":1117206,"name":"Economic","url":"https://www.academia.edu/Documents/in/Economic"},{"id":1733266,"name":"Per Capita Income","url":"https://www.academia.edu/Documents/in/Per_Capita_Income"},{"id":3227517,"name":"Gross Domestic Product","url":"https://www.academia.edu/Documents/in/Gross_Domestic_Product"},{"id":3375557,"name":"Real Gross Domestic Product","url":"https://www.academia.edu/Documents/in/Real_Gross_Domestic_Product"}],"urls":[{"id":36175501,"url":"https://doi.org/10.1080/10168737.2015.1081615"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218680-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218677"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/110218677/The_Permanent_and_Transitory_Effects_of_Budget_Deficits_on_Private_Investment_in_South_Africa"><img alt="Research paper thumbnail of The Permanent and Transitory Effects of Budget Deficits on Private Investment in South Africa" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">The Permanent and Transitory Effects of Budget Deficits on Private Investment in South Africa</div><div class="wp-workCard_item"><span>Studies in Economics and Econometrics</span><span>, Aug 1, 2005</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Abstract This paper investigates the effects of the permanent and transitory budget deficits on p...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Abstract This paper investigates the effects of the permanent and transitory budget deficits on private investment for South Africa. Specifically, the paper utilizes cointegration and error-correction models (ECM) to explore the long-run relationship between permanent budget deficits, private investment and transitory budget deficits. The results from the study suggest that (i) there is a long run relationship between permanent budget deficits, private investment and transitory budget deficits and (ii) the transitory rather than the permanent component of the budget deficits is an important determinant of private investment for South Africa. Above all, the study finds that transitory budget deficits crowd out private investment for the period under consideration.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218677"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218677"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218677; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218677]").text(description); $(".js-view-count[data-work-id=110218677]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218677; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218677']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=110218677]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218677,"title":"The Permanent and Transitory Effects of Budget Deficits on Private Investment in South Africa","translated_title":"","metadata":{"abstract":"Abstract This paper investigates the effects of the permanent and transitory budget deficits on private investment for South Africa. Specifically, the paper utilizes cointegration and error-correction models (ECM) to explore the long-run relationship between permanent budget deficits, private investment and transitory budget deficits. The results from the study suggest that (i) there is a long run relationship between permanent budget deficits, private investment and transitory budget deficits and (ii) the transitory rather than the permanent component of the budget deficits is an important determinant of private investment for South Africa. Above all, the study finds that transitory budget deficits crowd out private investment for the period under consideration.","publisher":"Taylor \u0026 Francis","publication_date":{"day":1,"month":8,"year":2005,"errors":{}},"publication_name":"Studies in Economics and Econometrics"},"translated_abstract":"Abstract This paper investigates the effects of the permanent and transitory budget deficits on private investment for South Africa. 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Above all, the study finds that transitory budget deficits crowd out private investment for the period under consideration.","internal_url":"https://www.academia.edu/110218677/The_Permanent_and_Transitory_Effects_of_Budget_Deficits_on_Private_Investment_in_South_Africa","translated_internal_url":"","created_at":"2023-11-30T08:42:17.282-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"The_Permanent_and_Transitory_Effects_of_Budget_Deficits_on_Private_Investment_in_South_Africa","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":"Abstract This paper investigates the effects of the permanent and transitory budget deficits on private investment for South Africa. Specifically, the paper utilizes cointegration and error-correction models (ECM) to explore the long-run relationship between permanent budget deficits, private investment and transitory budget deficits. The results from the study suggest that (i) there is a long run relationship between permanent budget deficits, private investment and transitory budget deficits and (ii) the transitory rather than the permanent component of the budget deficits is an important determinant of private investment for South Africa. Above all, the study finds that transitory budget deficits crowd out private investment for the period under consideration.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":747,"name":"Econometrics","url":"https://www.academia.edu/Documents/in/Econometrics"},{"id":27659,"name":"Applied Economics","url":"https://www.academia.edu/Documents/in/Applied_Economics"},{"id":176461,"name":"Cointegration","url":"https://www.academia.edu/Documents/in/Cointegration"},{"id":3852838,"name":"Deficit spending","url":"https://www.academia.edu/Documents/in/Deficit_spending"}],"urls":[{"id":36175499,"url":"https://doi.org/10.1080/10800379.2005.12106389"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218677-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218672"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/110218672/International_Real_Estate_Review"><img alt="Research paper thumbnail of International Real Estate Review" class="work-thumbnail" src="https://attachments.academia-assets.com/108102803/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/110218672/International_Real_Estate_Review">International Real Estate Review</a></div><div class="wp-workCard_item"><span>International Real Estate Review</span><span>, Dec 31, 2010</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This study examines the long memory properties of composite, equity, mortgage, and hybrid real es...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This study examines the long memory properties of composite, equity, mortgage, and hybrid real estate investment trust (REIT) returns by using semi-parametric and wavelet estimators. In particular, this paper applies the GPH semi-parametric estimator, the Haar and the Daubechies wavelet procedures to investigate the long memory properties of REIT returns. The results from the various procedures reveal that composite, equity, mortgage, and hybrid REIT returns are long memory processes with anti-persistence. The existence of long memory suggests that the dynamics which govern the four return series contain predictable components. This finding indicates that the markets for composite, equity, mortgage, and hybrid REITs are inefficient. The fact that these markets are inefficient suggests that investors can devise profitable strategies by using historical data or past information.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="21a8bf1d946bc7ebb8f39aa341cd7c97" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":108102803,"asset_id":110218672,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/108102803/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218672"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218672"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218672; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218672]").text(description); $(".js-view-count[data-work-id=110218672]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218672; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218672']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "21a8bf1d946bc7ebb8f39aa341cd7c97" } } $('.js-work-strip[data-work-id=110218672]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218672,"title":"International Real Estate Review","translated_title":"","metadata":{"grobid_abstract":"This study examines the long memory properties of composite, equity, mortgage, and hybrid real estate investment trust (REIT) returns by using semi-parametric and wavelet estimators. In particular, this paper applies the GPH semi-parametric estimator, the Haar and the Daubechies wavelet procedures to investigate the long memory properties of REIT returns. The results from the various procedures reveal that composite, equity, mortgage, and hybrid REIT returns are long memory processes with anti-persistence. The existence of long memory suggests that the dynamics which govern the four return series contain predictable components. This finding indicates that the markets for composite, equity, mortgage, and hybrid REITs are inefficient. The fact that these markets are inefficient suggests that investors can devise profitable strategies by using historical data or past information.","publication_date":{"day":31,"month":12,"year":2010,"errors":{}},"publication_name":"International Real Estate Review","grobid_abstract_attachment_id":108102803},"translated_abstract":null,"internal_url":"https://www.academia.edu/110218672/International_Real_Estate_Review","translated_internal_url":"","created_at":"2023-11-30T08:42:14.765-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":108102803,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/108102803/thumbnails/1.jpg","file_name":"100128.pdf","download_url":"https://www.academia.edu/attachments/108102803/download_file","bulk_download_file_name":"International_Real_Estate_Review.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/108102803/100128-libre.pdf?1701373174=\u0026response-content-disposition=attachment%3B+filename%3DInternational_Real_Estate_Review.pdf\u0026Expires=1743223452\u0026Signature=QpH-L4PB-RKRQOXEgI8SI-AADqPEKi38GkwOA-7q0Ia3bFi0yvR0-1bB8NZwtRn5gh1ZKFXd51C2CPFWLdK9FV03OQ9pKUr5CEdoKUioOCd-S2utWOc9rNTOsqcfjRynf2RIDxlZPiHFpkqQ4oSh67KWSFZZMpqGVQQg3hv3qcxDGCn6GH1RdjElA6kH2LpL~qyQf2VFP8slONS~G9RjSrWb-b2otWyU6RTiO8e7FZZfvGLIU-RYUtDQMQ~OlnkzCrFnO0vkDWha5qTENc-Ymfz0SxMKq9qFYh3Yf43w0VzBRlHlzolOj2gLcuq2J2djmFmVfrPJPivNuMtDHb3PTA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"International_Real_Estate_Review","translated_slug":"","page_count":21,"language":"en","content_type":"Work","summary":"This study examines the long memory properties of composite, equity, mortgage, and hybrid real estate investment trust (REIT) returns by using semi-parametric and wavelet estimators. In particular, this paper applies the GPH semi-parametric estimator, the Haar and the Daubechies wavelet procedures to investigate the long memory properties of REIT returns. The results from the various procedures reveal that composite, equity, mortgage, and hybrid REIT returns are long memory processes with anti-persistence. The existence of long memory suggests that the dynamics which govern the four return series contain predictable components. This finding indicates that the markets for composite, equity, mortgage, and hybrid REITs are inefficient. 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$(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218672-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218669"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/110218669/Openness_and_Economic_Growth_Evidence_from_Selected_Asean_Countries"><img alt="Research paper thumbnail of Openness and Economic Growth: Evidence from Selected Asean Countries" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Openness and Economic Growth: Evidence from Selected Asean Countries</div><div class="wp-workCard_item"><span>The Indian Economic Journal</span><span>, Mar 1, 2000</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218669"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218669"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218669; 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$(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218669-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218665"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/110218665/Do_OECD_Health_Expenditures_Converge_Econometric_Evidence_from_Recent_Panel_Stationarity_Tests"><img alt="Research paper thumbnail of Do OECD Health Expenditures Converge? Econometric Evidence from Recent Panel Stationarity Tests" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Do OECD Health Expenditures Converge? Econometric Evidence from Recent Panel Stationarity Tests</div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218665"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218665"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218665; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218665]").text(description); $(".js-view-count[data-work-id=110218665]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218665; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218665']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=110218665]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218665,"title":"Do OECD Health Expenditures Converge? Econometric Evidence from Recent Panel Stationarity Tests","translated_title":"","metadata":{"publication_date":{"day":null,"month":null,"year":2013,"errors":{}}},"translated_abstract":null,"internal_url":"https://www.academia.edu/110218665/Do_OECD_Health_Expenditures_Converge_Econometric_Evidence_from_Recent_Panel_Stationarity_Tests","translated_internal_url":"","created_at":"2023-11-30T08:42:11.167-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"Do_OECD_Health_Expenditures_Converge_Econometric_Evidence_from_Recent_Panel_Stationarity_Tests","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":null,"owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":747,"name":"Econometrics","url":"https://www.academia.edu/Documents/in/Econometrics"},{"id":40860,"name":"Panel Data","url":"https://www.academia.edu/Documents/in/Panel_Data"}],"urls":[{"id":36175492,"url":"https://dspace2.creighton.edu/xmlui/handle/10504/62094"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218665-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218662"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/110218662/Asymmetric_dynamics_in_current_account_interest_rate_nexus_evidence_from_Asian_countries"><img alt="Research paper thumbnail of Asymmetric dynamics in current account - interest rate nexus: evidence from Asian countries" class="work-thumbnail" src="https://attachments.academia-assets.com/108102853/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/110218662/Asymmetric_dynamics_in_current_account_interest_rate_nexus_evidence_from_Asian_countries">Asymmetric dynamics in current account - interest rate nexus: evidence from Asian countries</a></div><div class="wp-workCard_item"><span>DOAJ (DOAJ: Directory of Open Access Journals)</span><span>, Nov 1, 2008</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper uses cointegration and asymmetric error correction models to examine the relationship ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper uses cointegration and asymmetric error correction models to examine the relationship between current account and interest rate for India, Korea, the Philippines, and Thailand. Specifically, the paper uses a battery of linearity tests including BDS, Hinich, and White procedures to determine whether or not current account and interest rate exhibit asymmetric behavior. The NLADF is applied to determine the time series properties of current account and interest rate. Nonlinear cointegration is conducted through the TAR and M-TAR models. For asymmetric adjustment, the paper implemented the Enders and Granger nonlinear error correction model. The results from the various linearity tests suggest that current account and interest rate for the sample countries exhibit nonlinear behavior. Further, the results from the TAR and M-TAR nonlinear cointegration procedures provide evidence in support of equilibrium longrun relationship between current account and interest rate. The results from the asymmetric error correction models indicate a web of interactions between the current account and interest rate series. From policy perspective, the authorities can alter current account imbalances by manipulating interest rate and vice versa.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="c1cd51b4fb379aba223381e7feab2264" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":108102853,"asset_id":110218662,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/108102853/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218662"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218662"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218662; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218662]").text(description); $(".js-view-count[data-work-id=110218662]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218662; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218662']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "c1cd51b4fb379aba223381e7feab2264" } } $('.js-work-strip[data-work-id=110218662]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218662,"title":"Asymmetric dynamics in current account - interest rate nexus: evidence from Asian countries","translated_title":"","metadata":{"publisher":"DOAJ: Directory of Open Access Journals","ai_title_tag":"Current Account-Interest Rate Dynamics in Asia","grobid_abstract":"This paper uses cointegration and asymmetric error correction models to examine the relationship between current account and interest rate for India, Korea, the Philippines, and Thailand. Specifically, the paper uses a battery of linearity tests including BDS, Hinich, and White procedures to determine whether or not current account and interest rate exhibit asymmetric behavior. The NLADF is applied to determine the time series properties of current account and interest rate. Nonlinear cointegration is conducted through the TAR and M-TAR models. For asymmetric adjustment, the paper implemented the Enders and Granger nonlinear error correction model. The results from the various linearity tests suggest that current account and interest rate for the sample countries exhibit nonlinear behavior. Further, the results from the TAR and M-TAR nonlinear cointegration procedures provide evidence in support of equilibrium longrun relationship between current account and interest rate. The results from the asymmetric error correction models indicate a web of interactions between the current account and interest rate series. 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In particular, the paper applies the nonparametric variance-ratio tests proposed by Wright (2000). The two important findings that emerge from this study are: first, contrary to most of the earlier studies on this issue, this study finds evidence against random walk behavior for currency returns of all sample countries; second, the rejection of the null hypothesis of random walk suggests that shocks to the currency return series are temporary. This finding implies that foreign exchange markets of the sample countries are inefficient and present opportunities to aggressive investors who seek high rates of return irrespective of the level of risk involved.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218659"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218659"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218659; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218659]").text(description); $(".js-view-count[data-work-id=110218659]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218659; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218659']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=110218659]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218659,"title":"Testing Random Walk Behavior of Currency Returns for African Countries","translated_title":"","metadata":{"abstract":"This paper investigates the random walk behavior of currency returns for 15 African countries, namely, Ethiopia, Gambia, Ghana, Kenya, Madagascar, Mali, Mauritius, Morocco, Nigeria, Rwanda, Sierra Leone, South Africa, Tanzania, Uganda, and Zambia. In particular, the paper applies the nonparametric variance-ratio tests proposed by Wright (2000). The two important findings that emerge from this study are: first, contrary to most of the earlier studies on this issue, this study finds evidence against random walk behavior for currency returns of all sample countries; second, the rejection of the null hypothesis of random walk suggests that shocks to the currency return series are temporary. This finding implies that foreign exchange markets of the sample countries are inefficient and present opportunities to aggressive investors who seek high rates of return irrespective of the level of risk involved.","publication_date":{"day":null,"month":null,"year":2015,"errors":{}},"publication_name":"The IUP Journal of Applied Economics"},"translated_abstract":"This paper investigates the random walk behavior of currency returns for 15 African countries, namely, Ethiopia, Gambia, Ghana, Kenya, Madagascar, Mali, Mauritius, Morocco, Nigeria, Rwanda, Sierra Leone, South Africa, Tanzania, Uganda, and Zambia. In particular, the paper applies the nonparametric variance-ratio tests proposed by Wright (2000). The two important findings that emerge from this study are: first, contrary to most of the earlier studies on this issue, this study finds evidence against random walk behavior for currency returns of all sample countries; second, the rejection of the null hypothesis of random walk suggests that shocks to the currency return series are temporary. This finding implies that foreign exchange markets of the sample countries are inefficient and present opportunities to aggressive investors who seek high rates of return irrespective of the level of risk involved.","internal_url":"https://www.academia.edu/110218659/Testing_Random_Walk_Behavior_of_Currency_Returns_for_African_Countries","translated_internal_url":"","created_at":"2023-11-30T08:42:07.693-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"Testing_Random_Walk_Behavior_of_Currency_Returns_for_African_Countries","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":"This paper investigates the random walk behavior of currency returns for 15 African countries, namely, Ethiopia, Gambia, Ghana, Kenya, Madagascar, Mali, Mauritius, Morocco, Nigeria, Rwanda, Sierra Leone, South Africa, Tanzania, Uganda, and Zambia. In particular, the paper applies the nonparametric variance-ratio tests proposed by Wright (2000). The two important findings that emerge from this study are: first, contrary to most of the earlier studies on this issue, this study finds evidence against random walk behavior for currency returns of all sample countries; second, the rejection of the null hypothesis of random walk suggests that shocks to the currency return series are temporary. This finding implies that foreign exchange markets of the sample countries are inefficient and present opportunities to aggressive investors who seek high rates of return irrespective of the level of risk involved.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":69856,"name":"Social Science Research Network","url":"https://www.academia.edu/Documents/in/Social_Science_Research_Network"},{"id":78086,"name":"Random Walk","url":"https://www.academia.edu/Documents/in/Random_Walk"},{"id":271890,"name":"Currency","url":"https://www.academia.edu/Documents/in/Currency"},{"id":1032083,"name":"Random Walk Hypothesis","url":"https://www.academia.edu/Documents/in/Random_Walk_Hypothesis"}],"urls":[{"id":36175487,"url":"https://www.questia.com/library/journal/1P3-3728576881/testing-random-walk-behavior-of-currency-returns-for"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218659-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218655"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/110218655/Asymmetric_Volatility_Transmission_between_Home_Foreclosures_Housing_Prices_Unemployment_Rate_and_Adjustable_Mortgage_Rates"><img alt="Research paper thumbnail of Asymmetric Volatility Transmission between Home Foreclosures, Housing Prices, Unemployment Rate and Adjustable Mortgage Rates" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Asymmetric Volatility Transmission between Home Foreclosures, Housing Prices, Unemployment Rate and Adjustable Mortgage Rates</div><div class="wp-workCard_item"><span>The IUP Journal of Applied Economics</span><span>, 2016</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosur...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218655"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218655"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218655; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218655]").text(description); $(".js-view-count[data-work-id=110218655]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218655; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218655']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=110218655]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218655,"title":"Asymmetric Volatility Transmission between Home Foreclosures, Housing Prices, Unemployment Rate and Adjustable Mortgage Rates","translated_title":"","metadata":{"abstract":"This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.","publication_date":{"day":null,"month":null,"year":2016,"errors":{}},"publication_name":"The IUP Journal of Applied Economics"},"translated_abstract":"This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.","internal_url":"https://www.academia.edu/110218655/Asymmetric_Volatility_Transmission_between_Home_Foreclosures_Housing_Prices_Unemployment_Rate_and_Adjustable_Mortgage_Rates","translated_internal_url":"","created_at":"2023-11-30T08:42:05.980-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"Asymmetric_Volatility_Transmission_between_Home_Foreclosures_Housing_Prices_Unemployment_Rate_and_Adjustable_Mortgage_Rates","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":"This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":738,"name":"Monetary Economics","url":"https://www.academia.edu/Documents/in/Monetary_Economics"},{"id":7176,"name":"Unemployment","url":"https://www.academia.edu/Documents/in/Unemployment"},{"id":50679,"name":"Financial Crisis","url":"https://www.academia.edu/Documents/in/Financial_Crisis"},{"id":69856,"name":"Social Science Research Network","url":"https://www.academia.edu/Documents/in/Social_Science_Research_Network"},{"id":501263,"name":"Subprime Mortgage Crisis","url":"https://www.academia.edu/Documents/in/Subprime_Mortgage_Crisis"},{"id":1243561,"name":"Spillover Effect","url":"https://www.academia.edu/Documents/in/Spillover_Effect"},{"id":2523694,"name":"Unemployment rate","url":"https://www.academia.edu/Documents/in/Unemployment_rate"}],"urls":[{"id":36175484,"url":"https://www.questia.com/library/journal/1P3-3976102391/asymmetric-volatility-transmission-between-home-foreclosures"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218655-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218651"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/110218651/Classification_and_Regression_Tree_Model_to_Predict_the_Probability_of_a_Product_being_Backordered_in_Supply_Chain"><img alt="Research paper thumbnail of Classification and Regression Tree Model to Predict the Probability of a Product being Backordered in Supply Chain" class="work-thumbnail" src="https://attachments.academia-assets.com/108102789/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/110218651/Classification_and_Regression_Tree_Model_to_Predict_the_Probability_of_a_Product_being_Backordered_in_Supply_Chain">Classification and Regression Tree Model to Predict the Probability of a Product being Backordered in Supply Chain</a></div><div class="wp-workCard_item"><span>International Journal of Supply Chain Management</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Supply chain uncertainties pose a massive and ever-present challenge for modern companies. These ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Supply chain uncertainties pose a massive and ever-present challenge for modern companies. These uncertainties can manifest in two contrasting scenarios: supply surplus, where companies have excess items, and supply shortages, where there is an insufficient quantity of goods. Each situation demands a different approach from businesses to adapt to the varying outcomes and maintain a competitive edge in the market. Product backordering is one of the important things that companies need to deal with in an uncertain supply chain. A backorder occurs when a customer-ordered product or service is not in stock or cannot be supplied immediately, and the customer has to wait. Companies striving for a balance in managing backorders. Machine learning models can help to determine the probability of a product being backordered. In this research, we develop Classification and Regression Tree (CART) model that uses previously known parameters to predict the likelihood of a product being backordered...</span></div><div class="wp-workCard_item"><div class="carousel-container carousel-container--sm" id="profile-work-110218651-figures"><div class="prev-slide-container js-prev-button-container"><button aria-label="Previous" class="carousel-navigation-button js-profile-work-110218651-figures-prev"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">arrow_back_ios</span></button></div><div class="slides-container js-slides-container"><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/30282362/figure-1-probability-of-product-being-backordered-based-on"><img alt="Figure 1: Probability of a product being backordered based on different features " class="figure-slide-image" src="https://figures.academia-assets.com/108102789/figure_001.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/30282366/figure-2-variable-importance-from-cart-model-shows-the"><img alt="Figure 2: Variable importance from CART model Figure 2 shows the variables importance from the CART model. The sales quantity for the prior 3- month time period has the highest importance among all the variables. Only the amount of stock orders overdue has less than 10% importance level. Although the CART model considers 21 variables to develop the model, actually two variables were used in this model to construct the tree as shown in Figure 1. From Figure 1, we can say that if the current inventory level of a part is less than 2 and the sales quantity for the prior 3-month time period is greater than or equal to 3, then the probability that a product will be backordered is 15%. However, there is less than a 1% probability of a product being backordered if the current inventory level for a part is greater than or equal to two. " class="figure-slide-image" src="https://figures.academia-assets.com/108102789/figure_002.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/30282371/table-1-classification-and-regression-tree-model-to-predict"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/108102789/table_001.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/30282374/table-2-model-parameters-the-probability-of-product-being"><img alt="Table 2: Model Parameters the probability of a product being backordered is over 50%. Consequently, model's ability to pred accuracy is defined as the ict correctly whether a product is being backordered. Sensitivity is defined as the model’s ability to identify the occurrence of a product being backord ered, while specificity is the ability to identify the non-occurrence of a product being backordere d. 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These uncertainties can manifest in two contrasting scenarios: supply surplus, where companies have excess items, and supply shortages, where there is an insufficient quantity of goods. Each situation demands a different approach from businesses to adapt to the varying outcomes and maintain a competitive edge in the market. Product backordering is one of the important things that companies need to deal with in an uncertain supply chain. A backorder occurs when a customer-ordered product or service is not in stock or cannot be supplied immediately, and the customer has to wait. Companies striving for a balance in managing backorders. Machine learning models can help to determine the probability of a product being backordered. 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A backorder occurs when a customer-ordered product or service is not in stock or cannot be supplied immediately, and the customer has to wait. Companies striving for a balance in managing backorders. Machine learning models can help to determine the probability of a product being backordered. 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Employing quarterly ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This study investigates the determinants of the profitability of U.S. banks. Employing quarterly data, this paper further examines the historical and recent trends for all U.S. banks from 1996 to 2019 in the relationship between return and assets (ROA) and other bank internal (or endogenous) profitability contributors such as net interest margin (NIM), loan loss reserves, ratio of non-performing loans to gross loans, and external (or exogenous) macroeconomic variables, such as the 30-year average mortgage rate, Gross Domestic Product (GDP) economic growth rate, unemployment rate, interest rate, inflation rate and openness (i.e., exports + imports/GDP) by using the Generalized Method of Moments (GMM) estimator technique. The results reveal that bank-specific variables, including net interest margin, loan loss reserves and non-performing loans, have a significant impact on bank profitability in the United States. Similarly, the results show that macroeconomic variables, namely the ave...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="58795bcffa43100917ef3eeb14284091" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":108102788,"asset_id":110218647,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/108102788/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218647"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218647"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218647; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218647]").text(description); $(".js-view-count[data-work-id=110218647]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218647; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218647']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "58795bcffa43100917ef3eeb14284091" } } $('.js-work-strip[data-work-id=110218647]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218647,"title":"An empirical analysis of the determinants of the U.S. banks’ profitability","translated_title":"","metadata":{"abstract":"This study investigates the determinants of the profitability of U.S. banks. Employing quarterly data, this paper further examines the historical and recent trends for all U.S. banks from 1996 to 2019 in the relationship between return and assets (ROA) and other bank internal (or endogenous) profitability contributors such as net interest margin (NIM), loan loss reserves, ratio of non-performing loans to gross loans, and external (or exogenous) macroeconomic variables, such as the 30-year average mortgage rate, Gross Domestic Product (GDP) economic growth rate, unemployment rate, interest rate, inflation rate and openness (i.e., exports + imports/GDP) by using the Generalized Method of Moments (GMM) estimator technique. The results reveal that bank-specific variables, including net interest margin, loan loss reserves and non-performing loans, have a significant impact on bank profitability in the United States. Similarly, the results show that macroeconomic variables, namely the ave...","publisher":"LLC CPC Business Perspectives","publication_date":{"day":null,"month":null,"year":2021,"errors":{}},"publication_name":"Banks and Bank Systems"},"translated_abstract":"This study investigates the determinants of the profitability of U.S. banks. Employing quarterly data, this paper further examines the historical and recent trends for all U.S. banks from 1996 to 2019 in the relationship between return and assets (ROA) and other bank internal (or endogenous) profitability contributors such as net interest margin (NIM), loan loss reserves, ratio of non-performing loans to gross loans, and external (or exogenous) macroeconomic variables, such as the 30-year average mortgage rate, Gross Domestic Product (GDP) economic growth rate, unemployment rate, interest rate, inflation rate and openness (i.e., exports + imports/GDP) by using the Generalized Method of Moments (GMM) estimator technique. 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Similarly, the results show that macroeconomic variables, namely the ave...","internal_url":"https://www.academia.edu/110218647/An_empirical_analysis_of_the_determinants_of_the_U_S_banks_profitability","translated_internal_url":"","created_at":"2023-11-30T08:42:02.459-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":108102788,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/108102788/thumbnails/1.jpg","file_name":"BBS_2021_04_Chukwuogor.pdf","download_url":"https://www.academia.edu/attachments/108102788/download_file","bulk_download_file_name":"An_empirical_analysis_of_the_determinant.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/108102788/BBS_2021_04_Chukwuogor-libre.pdf?1701377104=\u0026response-content-disposition=attachment%3B+filename%3DAn_empirical_analysis_of_the_determinant.pdf\u0026Expires=1743223452\u0026Signature=DfzVtMoKQVQP54FS6pocfg2Z7GUt24ZV6gKbHCPsEqzH4u-03sBoZuO~4FBES6q6wxpxWf3Lh~OBIZlHwFdBmW-ZJWvEhAnPpoVWwKV6wVHe0qHl5UNoYryrO2k0lsh7EyQANEvtgo6r2xY43ZLEJZ9HxLK5Jbr2uQBxcYTD4qseJzzqh0veRrwxK1QtowxPylIqjZHdjNFRVy7i8glEe2CdxZ4C6mvleAcj92v4xJD~mcLpxQRntAS5uWW96ayGVjItHa~l4r6JlBePZq7QrJzMzVegT7c1QFSwYyRx8LhOcfm0ohJIvfM1ss5pbYNDbveYJ74bITao~8Ow4Qprxw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"An_empirical_analysis_of_the_determinants_of_the_U_S_banks_profitability","translated_slug":"","page_count":10,"language":"en","content_type":"Work","summary":"This study investigates the determinants of the profitability of U.S. banks. Employing quarterly data, this paper further examines the historical and recent trends for all U.S. banks from 1996 to 2019 in the relationship between return and assets (ROA) and other bank internal (or endogenous) profitability contributors such as net interest margin (NIM), loan loss reserves, ratio of non-performing loans to gross loans, and external (or exogenous) macroeconomic variables, such as the 30-year average mortgage rate, Gross Domestic Product (GDP) economic growth rate, unemployment rate, interest rate, inflation rate and openness (i.e., exports + imports/GDP) by using the Generalized Method of Moments (GMM) estimator technique. The results reveal that bank-specific variables, including net interest margin, loan loss reserves and non-performing loans, have a significant impact on bank profitability in the United States. Similarly, the results show that macroeconomic variables, namely the ave...","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[{"id":108102788,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/108102788/thumbnails/1.jpg","file_name":"BBS_2021_04_Chukwuogor.pdf","download_url":"https://www.academia.edu/attachments/108102788/download_file","bulk_download_file_name":"An_empirical_analysis_of_the_determinant.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/108102788/BBS_2021_04_Chukwuogor-libre.pdf?1701377104=\u0026response-content-disposition=attachment%3B+filename%3DAn_empirical_analysis_of_the_determinant.pdf\u0026Expires=1743223452\u0026Signature=DfzVtMoKQVQP54FS6pocfg2Z7GUt24ZV6gKbHCPsEqzH4u-03sBoZuO~4FBES6q6wxpxWf3Lh~OBIZlHwFdBmW-ZJWvEhAnPpoVWwKV6wVHe0qHl5UNoYryrO2k0lsh7EyQANEvtgo6r2xY43ZLEJZ9HxLK5Jbr2uQBxcYTD4qseJzzqh0veRrwxK1QtowxPylIqjZHdjNFRVy7i8glEe2CdxZ4C6mvleAcj92v4xJD~mcLpxQRntAS5uWW96ayGVjItHa~l4r6JlBePZq7QrJzMzVegT7c1QFSwYyRx8LhOcfm0ohJIvfM1ss5pbYNDbveYJ74bITao~8Ow4Qprxw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":738,"name":"Monetary Economics","url":"https://www.academia.edu/Documents/in/Monetary_Economics"},{"id":663534,"name":"Interest Rate","url":"https://www.academia.edu/Documents/in/Interest_Rate"},{"id":1998421,"name":"Net Interest Margin","url":"https://www.academia.edu/Documents/in/Net_Interest_Margin"},{"id":3079415,"name":"Finance and Investment Banking","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking"},{"id":3227517,"name":"Gross Domestic Product","url":"https://www.academia.edu/Documents/in/Gross_Domestic_Product"},{"id":3722288,"name":"Profitability Index","url":"https://www.academia.edu/Documents/in/Profitability_Index"}],"urls":[{"id":36175478,"url":"https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/15961/BBS_2021_04_Chukwuogor.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218647-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218644"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/110218644/Asymmetric_Volatility_Transmission_between_Home_Foreclosures_Housing_Prices_Unemployment_Rate_and_Adjustable_Mortgage_Rates"><img alt="Research paper thumbnail of Asymmetric Volatility Transmission between Home Foreclosures, Housing Prices, Unemployment Rate and Adjustable Mortgage Rates" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Asymmetric Volatility Transmission between Home Foreclosures, Housing Prices, Unemployment Rate and Adjustable Mortgage Rates</div><div class="wp-workCard_item"><span>The IUP Journal of Applied Economics</span><span>, 2016</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosur...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218644"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218644"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218644; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218644]").text(description); $(".js-view-count[data-work-id=110218644]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218644; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218644']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=110218644]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218644,"title":"Asymmetric Volatility Transmission between Home Foreclosures, Housing Prices, Unemployment Rate and Adjustable Mortgage Rates","translated_title":"","metadata":{"abstract":"This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.","publication_date":{"day":null,"month":null,"year":2016,"errors":{}},"publication_name":"The IUP Journal of Applied Economics"},"translated_abstract":"This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.","internal_url":"https://www.academia.edu/110218644/Asymmetric_Volatility_Transmission_between_Home_Foreclosures_Housing_Prices_Unemployment_Rate_and_Adjustable_Mortgage_Rates","translated_internal_url":"","created_at":"2023-11-30T08:42:00.980-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"Asymmetric_Volatility_Transmission_between_Home_Foreclosures_Housing_Prices_Unemployment_Rate_and_Adjustable_Mortgage_Rates","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":"This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":738,"name":"Monetary Economics","url":"https://www.academia.edu/Documents/in/Monetary_Economics"},{"id":7176,"name":"Unemployment","url":"https://www.academia.edu/Documents/in/Unemployment"},{"id":50679,"name":"Financial Crisis","url":"https://www.academia.edu/Documents/in/Financial_Crisis"},{"id":69856,"name":"Social Science Research Network","url":"https://www.academia.edu/Documents/in/Social_Science_Research_Network"},{"id":501263,"name":"Subprime Mortgage Crisis","url":"https://www.academia.edu/Documents/in/Subprime_Mortgage_Crisis"},{"id":1243561,"name":"Spillover Effect","url":"https://www.academia.edu/Documents/in/Spillover_Effect"},{"id":2523694,"name":"Unemployment rate","url":"https://www.academia.edu/Documents/in/Unemployment_rate"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218644-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218488"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/110218488/Long_Run_Relationship_Between_Economic_Growth_and_Stock_Returns_An_Empirical_Investigation_on_Canada_and_the_United_States"><img alt="Research paper thumbnail of Long-Run Relationship Between Economic Growth and Stock Returns: An Empirical Investigation on Canada and the United States" class="work-thumbnail" src="https://attachments.academia-assets.com/108102736/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/110218488/Long_Run_Relationship_Between_Economic_Growth_and_Stock_Returns_An_Empirical_Investigation_on_Canada_and_the_United_States">Long-Run Relationship Between Economic Growth and Stock Returns: An Empirical Investigation on Canada and the United States</a></div><div class="wp-workCard_item"><span>Ekonomicky Casopis</span><span>, 2006</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This article examines the long run relationship between economic growth and stock prices for Cana...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This article examines the long run relationship between economic growth and stock prices for Canada and the United States through cointegration estimation procedure, and it implements the Vector Error Correction Models (VECM) to abstract simultaneously the short-and long-run information in the modeling process. Results from the cointegration tests reveal that economic growth and stock prices share long run equilibrium relationship for both Canada and the U.S. The results from the VECM indicate that for the U.S., causality runs from economic growth to stock prices but not vice versa. However for Canada, the results reveal that there is a bi-directional causality between economic growth and stock prices.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="a31a5a937a1a25aa00e110f5d5845999" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":108102736,"asset_id":110218488,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/108102736/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218488"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218488"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218488; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218488]").text(description); $(".js-view-count[data-work-id=110218488]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218488; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218488']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "a31a5a937a1a25aa00e110f5d5845999" } } $('.js-work-strip[data-work-id=110218488]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218488,"title":"Long-Run Relationship Between Economic Growth and Stock Returns: An Empirical Investigation on Canada and the United States","translated_title":"","metadata":{"publisher":"Central Library of the Slovak Academy of Sciences","grobid_abstract":"This article examines the long run relationship between economic growth and stock prices for Canada and the United States through cointegration estimation procedure, and it implements the Vector Error Correction Models (VECM) to abstract simultaneously the short-and long-run information in the modeling process. Results from the cointegration tests reveal that economic growth and stock prices share long run equilibrium relationship for both Canada and the U.S. The results from the VECM indicate that for the U.S., causality runs from economic growth to stock prices but not vice versa. 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In particular, the study applied theoretically consistent panel unit root procedures and panel co-integration tests that account for the presence of cross-sectional dependency among the members of a panel. To ascertain the direction of causality between HC and EG, the study applies the heterogeneous panel causality test proposed by Dumitrescu and Hurlin. This test has the ability to control for the presence of both heterogeneity and cross-sectional dependence that might be present in the panel. To determine the signs of the relationship between the two variables, the study applied the dynamic ordinary least square (OLS). The results from the heterogeneous panel causality test provide evidence in support of bidirectional causality between HC and EG for the sample countries. The results from the dynamic OLS indicate that HC and EG have significantly positiv...</span></div><div class="wp-workCard_item"><div class="carousel-container carousel-container--sm" id="profile-work-106319502-figures"><div class="prev-slide-container js-prev-button-container"><button aria-label="Previous" class="carousel-navigation-button js-profile-work-106319502-figures-prev"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">arrow_back_ios</span></button></div><div class="slides-container js-slides-container"><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/43137538/table-2-cross-sectional-dependence-test-results-to-account"><img alt="Cross-Sectional Dependence Test Results To account for the presence of cross-sectional dependencies in the panel, the study implements the Hadri and Kurozumi (2008) panel unit root tests. The resu the Hadri and suggest that exception of SPC ts from Kurozumi (2008) procedures are displayed in Table 2. The results he null hypothesis of stationarity should not be rejected, with the he results from the Z4 ~ test; for human capital. The test s atistics 0.062 (p-value =0.475) and 0.865 (p-value =0.194) respectively, for Z*/"° and 7%" are statistical the acceptance of the null hypo y insignificant in SPC he case of economic growth variable, indicating hesis of stationarity. For human capital variable, the result from the Z% ~ procedure rejects the null hypothesis while that from the Z'i test accepts the stationari dependence in the panel implies the most appropriate for the stud SPC y. y hypothesis. The presence of cross-sectional that the test statistics from the Z’; ~ procedure are TABLE 1 " class="figure-slide-image" src="https://figures.academia-assets.com/105549495/table_001.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/43137545/table-2-hadri-kurozumi-panel-unit-root-test-results-variable"><img alt="Hadri-Kurozumi Panel Unit Root Test Results variable while human capital is the dependent variable in the second model. The results from both the group (DH,) and panel (DH,) tests reject the null hypothesis of no cointegration between economic growth and human capita. The test statistics obtained from the equation with economic growth as the dependent variable are DHg = 187.725 (p-value=0.000) and DH» = 3.603 (p-value=0.000). Thesetest statistics are statistically significant at the 1 percent level of significance. Similar results are indicated for the model where human capital is the dependent variable. These results imply that there is long run relationship between economic growth and human capital. TABLE 2 " class="figure-slide-image" src="https://figures.academia-assets.com/105549495/table_002.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/43137557/table-3-indicates-rejection-of-the-null-hypothesis-of-no"><img alt="“indicates rejection of the null hypothesis of no cointegration at the 1% level of significance Durbin-Hausman Panel Cointegration Test Results TABLE 3 " class="figure-slide-image" src="https://figures.academia-assets.com/105549495/table_003.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/43137563/table-4-xe-and-indicate-significance-at-the-and-level"><img alt="xe ** and * indicate significance at the 1%, 5%, and 10% level respectively. Dumitrescu-Hurlin Panel Granger Causality Test Results TABLE 4 Journal of Innovative Education Strategies, Volume 4, Number 1, September 2015 " class="figure-slide-image" src="https://figures.academia-assets.com/105549495/table_004.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/43137575/table-5-panel-dynamic-ols-long-run-estimates-journal-of"><img alt="Panel Dynamic OLS Long Run Estimates TABLE 5 Journal of Innovative Education Strategies, Volume 4, Number 1, September 2015 " class="figure-slide-image" src="https://figures.academia-assets.com/105549495/table_005.jpg" /></a></figure></div><div class="next-slide-container js-next-button-container"><button aria-label="Next" class="carousel-navigation-button js-profile-work-106319502-figures-next"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">arrow_forward_ios</span></button></div></div></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="ea66d606f0a949c44e96a5960d399364" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":105549495,"asset_id":106319502,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/105549495/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="106319502"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="106319502"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 106319502; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=106319502]").text(description); $(".js-view-count[data-work-id=106319502]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 106319502; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='106319502']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "ea66d606f0a949c44e96a5960d399364" } } $('.js-work-strip[data-work-id=106319502]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":106319502,"title":"Human Capital-Economic Growth Nexus in Africa: Heterogeneous Panel Causality Approach","translated_title":"","metadata":{"abstract":"This paper examines the causal relationship between human capital (HC) and economic growth (EG) for a panel 29 African countries. In particular, the study applied theoretically consistent panel unit root procedures and panel co-integration tests that account for the presence of cross-sectional dependency among the members of a panel. To ascertain the direction of causality between HC and EG, the study applies the heterogeneous panel causality test proposed by Dumitrescu and Hurlin. This test has the ability to control for the presence of both heterogeneity and cross-sectional dependence that might be present in the panel. To determine the signs of the relationship between the two variables, the study applied the dynamic ordinary least square (OLS). The results from the heterogeneous panel causality test provide evidence in support of bidirectional causality between HC and EG for the sample countries. 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To determine the signs of the relationship between the two variables, the study applied the dynamic ordinary least square (OLS). The results from the heterogeneous panel causality test provide evidence in support of bidirectional causality between HC and EG for the sample countries. The results from the dynamic OLS indicate that HC and EG have significantly positiv...","internal_url":"https://www.academia.edu/106319502/Human_Capital_Economic_Growth_Nexus_in_Africa_Heterogeneous_Panel_Causality_Approach","translated_internal_url":"","created_at":"2023-09-06T00:34:02.664-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":105549495,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/105549495/thumbnails/1.jpg","file_name":"JIES-Vol-4-No-1-Article-3.pdf","download_url":"https://www.academia.edu/attachments/105549495/download_file","bulk_download_file_name":"Human_Capital_Economic_Growth_Nexus_in_A.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/105549495/JIES-Vol-4-No-1-Article-3-libre.pdf?1693986046=\u0026response-content-disposition=attachment%3B+filename%3DHuman_Capital_Economic_Growth_Nexus_in_A.pdf\u0026Expires=1743223452\u0026Signature=bX1~RydLFe8M0Hd1DrZzsPkMfj1l12larWEHUmF3~-gTDWHYFNnBN69igmUF5JLo82MdyNMImeM1aUyKsoAoBshzaSCmOER3YC1qpo1NCSeyIED75WJxFHbJNF8jLgb9XtZdnE8XNI4L8lHERJ-YSznj1CVyt9X0JcDuRQTSYwpR1Vtpy82amD~H0FyJkH9GzuFMNiWBGKQSf5M9qRApF6m7dE1huEB0D-xH0hRJbEMzH1wyIQ7KO9fOFQgHudCSqKOWEl-yjIizT55vB93oJa4d3x0pYEfymE0ThrJt2q1ZPcPbpz6Ee~SCX8IigfVRvdJpdyUFeYQmBRwne-L2RQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Human_Capital_Economic_Growth_Nexus_in_Africa_Heterogeneous_Panel_Causality_Approach","translated_slug":"","page_count":15,"language":"en","content_type":"Work","summary":"This paper examines the causal relationship between human capital (HC) and economic growth (EG) for a panel 29 African countries. In particular, the study applied theoretically consistent panel unit root procedures and panel co-integration tests that account for the presence of cross-sectional dependency among the members of a panel. To ascertain the direction of causality between HC and EG, the study applies the heterogeneous panel causality test proposed by Dumitrescu and Hurlin. This test has the ability to control for the presence of both heterogeneity and cross-sectional dependence that might be present in the panel. To determine the signs of the relationship between the two variables, the study applied the dynamic ordinary least square (OLS). The results from the heterogeneous panel causality test provide evidence in support of bidirectional causality between HC and EG for the sample countries. The results from the dynamic OLS indicate that HC and EG have significantly positiv...","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[{"id":105549495,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/105549495/thumbnails/1.jpg","file_name":"JIES-Vol-4-No-1-Article-3.pdf","download_url":"https://www.academia.edu/attachments/105549495/download_file","bulk_download_file_name":"Human_Capital_Economic_Growth_Nexus_in_A.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/105549495/JIES-Vol-4-No-1-Article-3-libre.pdf?1693986046=\u0026response-content-disposition=attachment%3B+filename%3DHuman_Capital_Economic_Growth_Nexus_in_A.pdf\u0026Expires=1743223452\u0026Signature=bX1~RydLFe8M0Hd1DrZzsPkMfj1l12larWEHUmF3~-gTDWHYFNnBN69igmUF5JLo82MdyNMImeM1aUyKsoAoBshzaSCmOER3YC1qpo1NCSeyIED75WJxFHbJNF8jLgb9XtZdnE8XNI4L8lHERJ-YSznj1CVyt9X0JcDuRQTSYwpR1Vtpy82amD~H0FyJkH9GzuFMNiWBGKQSf5M9qRApF6m7dE1huEB0D-xH0hRJbEMzH1wyIQ7KO9fOFQgHudCSqKOWEl-yjIizT55vB93oJa4d3x0pYEfymE0ThrJt2q1ZPcPbpz6Ee~SCX8IigfVRvdJpdyUFeYQmBRwne-L2RQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":747,"name":"Econometrics","url":"https://www.academia.edu/Documents/in/Econometrics"},{"id":14042,"name":"Human Capital","url":"https://www.academia.edu/Documents/in/Human_Capital"},{"id":40860,"name":"Panel Data","url":"https://www.academia.edu/Documents/in/Panel_Data"},{"id":206737,"name":"Ordinary Least Squares","url":"https://www.academia.edu/Documents/in/Ordinary_Least_Squares"},{"id":2958825,"name":"Panel Analysis","url":"https://www.academia.edu/Documents/in/Panel_Analysis"}],"urls":[{"id":33801097,"url":"http://www.intl-academy.org/wp-content/uploads/2017/04/JIES-Vol-4-No-1-Article-3.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (true) { Aedu.setUpFigureCarousel('profile-work-106319502-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="106319501"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/106319501/An_examination_of_the_REIT_return_implied_volatility_relation_a_frequency_domain_approach"><img alt="Research paper thumbnail of An examination of the REIT return–implied volatility relation: a frequency domain approach" class="work-thumbnail" src="https://attachments.academia-assets.com/105549525/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/106319501/An_examination_of_the_REIT_return_implied_volatility_relation_a_frequency_domain_approach">An examination of the REIT return–implied volatility relation: a frequency domain approach</a></div><div class="wp-workCard_item"><span>Journal of Economics and Finance</span><span>, 2016</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper examines the relationship between implied volatility (the VIX) and REIT returns using ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper examines the relationship between implied volatility (the VIX) and REIT returns using frequency domain approach which allows shocks to vary across frequency bands. The distinguishing feature of the frequency domain method is that it enables the investigator assess quantitatively the impact of independent variables on the dependent variable at different frequencies across the spectra. The estimates of the parameter of interest from the frequency domain analysis may reveal rich policy implications. Specifically, at issue is whether implied volatility can be used to predict movements in REIT returns at different frequencies in the United States. The results from the frequency domain regression show that implied volatility and REIT returns have significantly negative effect on each other at the low-, medium-and long-term frequencies. Furthermore, the empirical findings from the frequency domain causality tests indicate that causality runs from implied volatility to all and equity REIT returns in the short-and medium-term frequencies but not vice versa. However, it is interesting to note that the results show causality running from mortgage REIT returns to implied volatility in the medium term. Taken together, the results from this study suggest that knowledge of implied volatility can help the investors to predict movements in the capital market and hence, to some extent, they can protect their portfolios against uncertainties.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="72f618c72bf7de60b1113166747b4618" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":105549525,"asset_id":106319501,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/105549525/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="106319501"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="106319501"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 106319501; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=106319501]").text(description); $(".js-view-count[data-work-id=106319501]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 106319501; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='106319501']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "72f618c72bf7de60b1113166747b4618" } } $('.js-work-strip[data-work-id=106319501]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":106319501,"title":"An examination of the REIT return–implied volatility relation: a frequency domain approach","translated_title":"","metadata":{"publisher":"Springer Science and Business Media LLC","grobid_abstract":"This paper examines the relationship between implied volatility (the VIX) and REIT returns using frequency domain approach which allows shocks to vary across frequency bands. 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However, it is interesting to note that the results show causality running from mortgage REIT returns to implied volatility in the medium term. Taken together, the results from this study suggest that knowledge of implied volatility can help the investors to predict movements in the capital market and hence, to some extent, they can protect their portfolios against uncertainties.","publication_date":{"day":null,"month":null,"year":2016,"errors":{}},"publication_name":"Journal of Economics and Finance","grobid_abstract_attachment_id":105549525},"translated_abstract":null,"internal_url":"https://www.academia.edu/106319501/An_examination_of_the_REIT_return_implied_volatility_relation_a_frequency_domain_approach","translated_internal_url":"","created_at":"2023-09-06T00:34:02.288-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":105549525,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/105549525/thumbnails/1.jpg","file_name":"s12197-016-9378-220230906-1-u43yeo.pdf","download_url":"https://www.academia.edu/attachments/105549525/download_file","bulk_download_file_name":"An_examination_of_the_REIT_return_implie.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/105549525/s12197-016-9378-220230906-1-u43yeo-libre.pdf?1693986028=\u0026response-content-disposition=attachment%3B+filename%3DAn_examination_of_the_REIT_return_implie.pdf\u0026Expires=1743223452\u0026Signature=fte89gZL7zfsCB-BP2IHJosQnW6jdgKRxuNUXLCv3r6ZVnQGsfcds4ZuEjbQ1LNWB~xTh2U36OjIT8N~1iczUgRIpkm0DJzhLET94Xd~Z7DThDQvFTRc94zSNuJVNY7EpzfOluTja5~L3xl7chnUfuadnVIlf2vQOrYBvTkAJm6CFWlamjUxAEhff1tqZDnFpduUz-8fjBbfAqBFGkid-ZoS8QuJLizOkn92wwRolFTSOxHUy80Y6AEq8BSb~RIk15xifPIBK1kEhVx8h9LC5EXQn93OKEvP6B-5XjLyMAiGw5qz9bg7BG5cOARFVJpeJ2d1W~SJHlDH~39tVNx9NQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"An_examination_of_the_REIT_return_implied_volatility_relation_a_frequency_domain_approach","translated_slug":"","page_count":14,"language":"en","content_type":"Work","summary":"This paper examines the relationship between implied volatility (the VIX) and REIT returns using frequency domain approach which allows shocks to vary across frequency bands. The distinguishing feature of the frequency domain method is that it enables the investigator assess quantitatively the impact of independent variables on the dependent variable at different frequencies across the spectra. The estimates of the parameter of interest from the frequency domain analysis may reveal rich policy implications. Specifically, at issue is whether implied volatility can be used to predict movements in REIT returns at different frequencies in the United States. The results from the frequency domain regression show that implied volatility and REIT returns have significantly negative effect on each other at the low-, medium-and long-term frequencies. Furthermore, the empirical findings from the frequency domain causality tests indicate that causality runs from implied volatility to all and equity REIT returns in the short-and medium-term frequencies but not vice versa. However, it is interesting to note that the results show causality running from mortgage REIT returns to implied volatility in the medium term. Taken together, the results from this study suggest that knowledge of implied volatility can help the investors to predict movements in the capital market and hence, to some extent, they can protect their portfolios against uncertainties.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[{"id":105549525,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/105549525/thumbnails/1.jpg","file_name":"s12197-016-9378-220230906-1-u43yeo.pdf","download_url":"https://www.academia.edu/attachments/105549525/download_file","bulk_download_file_name":"An_examination_of_the_REIT_return_implie.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/105549525/s12197-016-9378-220230906-1-u43yeo-libre.pdf?1693986028=\u0026response-content-disposition=attachment%3B+filename%3DAn_examination_of_the_REIT_return_implie.pdf\u0026Expires=1743223452\u0026Signature=fte89gZL7zfsCB-BP2IHJosQnW6jdgKRxuNUXLCv3r6ZVnQGsfcds4ZuEjbQ1LNWB~xTh2U36OjIT8N~1iczUgRIpkm0DJzhLET94Xd~Z7DThDQvFTRc94zSNuJVNY7EpzfOluTja5~L3xl7chnUfuadnVIlf2vQOrYBvTkAJm6CFWlamjUxAEhff1tqZDnFpduUz-8fjBbfAqBFGkid-ZoS8QuJLizOkn92wwRolFTSOxHUy80Y6AEq8BSb~RIk15xifPIBK1kEhVx8h9LC5EXQn93OKEvP6B-5XjLyMAiGw5qz9bg7BG5cOARFVJpeJ2d1W~SJHlDH~39tVNx9NQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":747,"name":"Econometrics","url":"https://www.academia.edu/Documents/in/Econometrics"},{"id":27659,"name":"Applied Economics","url":"https://www.academia.edu/Documents/in/Applied_Economics"},{"id":418456,"name":"Economics Finance","url":"https://www.academia.edu/Documents/in/Economics_Finance-2"},{"id":3079413,"name":"Finance and Investment Banking Area","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking_Area"},{"id":3079415,"name":"Finance and Investment Banking","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking"}],"urls":[{"id":33801096,"url":"http://link.springer.com/content/pdf/10.1007/s12197-016-9378-2.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-106319501-figures'); } }); </script> </div><div class="profile--tab_content_container js-tab-pane tab-pane" data-section-id="1643235" id="papers"><div class="js-work-strip profile--work_container" data-work-id="122914918"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/122914918/Earnings_management_capital_management_signalling_and_the_Covid_19_pandemic_the_case_of_listed_banks_in_the_United_States"><img alt="Research paper thumbnail of Earnings management, capital management, signalling and the Covid-19 pandemic: the case of listed banks in the United States" class="work-thumbnail" src="https://attachments.academia-assets.com/117475671/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/122914918/Earnings_management_capital_management_signalling_and_the_Covid_19_pandemic_the_case_of_listed_banks_in_the_United_States">Earnings management, capital management, signalling and the Covid-19 pandemic: the case of listed banks in the United States</a></div><div class="wp-workCard_item"><span>Pressacademia</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Purpose- This paper investigates earnings management, capital management, the impact of the Covid...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Purpose- This paper investigates earnings management, capital management, the impact of the Covid-19 pandemic and signalling by United States listed banks of loan loss provisions. This study is particularly important because there is a relative dearth of research in banking on these topics and thus remain considerably under researched. Methodology- The dataset comprises a pooled cross-sectional and time series data for a sample of 249 U.S. listed banks for the period 2015 to 2020 consisting of 1,494 observations. A panel data analysis is conducted. Findings- Results overall show no evidence of systematic earnings management, capital management or signaling by the banks. Findings reveal the impact of the Covid-19 pandemic is not significant during this period of economic fragility for listed banks. The elasticity of loan loss provisions with regards to the annual growth in gross domestic product is negative and statistically significant overall. This is evidence that U.S. listed bank...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="1c6081eb6b6e666609d50826dd8c541a" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":117475671,"asset_id":122914918,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/117475671/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="122914918"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="122914918"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 122914918; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=122914918]").text(description); $(".js-view-count[data-work-id=122914918]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 122914918; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='122914918']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "1c6081eb6b6e666609d50826dd8c541a" } } $('.js-work-strip[data-work-id=122914918]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":122914918,"title":"Earnings management, capital management, signalling and the Covid-19 pandemic: the case of listed banks in the United States","translated_title":"","metadata":{"abstract":"Purpose- This paper investigates earnings management, capital management, the impact of the Covid-19 pandemic and signalling by United States listed banks of loan loss provisions. This study is particularly important because there is a relative dearth of research in banking on these topics and thus remain considerably under researched. Methodology- The dataset comprises a pooled cross-sectional and time series data for a sample of 249 U.S. listed banks for the period 2015 to 2020 consisting of 1,494 observations. A panel data analysis is conducted. Findings- Results overall show no evidence of systematic earnings management, capital management or signaling by the banks. Findings reveal the impact of the Covid-19 pandemic is not significant during this period of economic fragility for listed banks. The elasticity of loan loss provisions with regards to the annual growth in gross domestic product is negative and statistically significant overall. This is evidence that U.S. listed bank...","publisher":"Pressacademia","ai_title_tag":"Earnings and Capital Management in US Banks During Covid-19","publication_name":"Pressacademia"},"translated_abstract":"Purpose- This paper investigates earnings management, capital management, the impact of the Covid-19 pandemic and signalling by United States listed banks of loan loss provisions. This study is particularly important because there is a relative dearth of research in banking on these topics and thus remain considerably under researched. Methodology- The dataset comprises a pooled cross-sectional and time series data for a sample of 249 U.S. listed banks for the period 2015 to 2020 consisting of 1,494 observations. A panel data analysis is conducted. Findings- Results overall show no evidence of systematic earnings management, capital management or signaling by the banks. Findings reveal the impact of the Covid-19 pandemic is not significant during this period of economic fragility for listed banks. The elasticity of loan loss provisions with regards to the annual growth in gross domestic product is negative and statistically significant overall. This is evidence that U.S. listed bank...","internal_url":"https://www.academia.edu/122914918/Earnings_management_capital_management_signalling_and_the_Covid_19_pandemic_the_case_of_listed_banks_in_the_United_States","translated_internal_url":"","created_at":"2024-08-15T18:50:58.794-07:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":117475671,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/117475671/thumbnails/1.jpg","file_name":"pressacademia.2023.pdf","download_url":"https://www.academia.edu/attachments/117475671/download_file","bulk_download_file_name":"Earnings_management_capital_management_s.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/117475671/pressacademia.2023-libre.pdf?1723775799=\u0026response-content-disposition=attachment%3B+filename%3DEarnings_management_capital_management_s.pdf\u0026Expires=1743223451\u0026Signature=c8wBaAeEGTyrf~FENQpCjOCtEepbgqBakn-3VyrYvSWSidhoN-gqgKk~NWNrR4NDyWNOXf1eUyjabtb6vX0hSbK1TwMsdspuHNMEqGHEu7-Rgs5pbg8wMfCqIUQ5ySbaUOkf2BxM61YxIpd2bg2TtOHojnJCgu2ar1Z1fNi5RNifPne3nmDTNsClZeTXB54CQCSqGA~2s7J1w9Pn21BzYfsmAhQytfsw884efd4KdZbpykGI6BShbxpv0-1JhgFoNfJwQQmkstA~qTGjjmR-jc-ykN-GDro52OttU231XQ0proENWTAfVq7fskGU6J-ji5tIe5XXG4Qn-1cWprm5oA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Earnings_management_capital_management_signalling_and_the_Covid_19_pandemic_the_case_of_listed_banks_in_the_United_States","translated_slug":"","page_count":12,"language":"en","content_type":"Work","summary":"Purpose- This paper investigates earnings management, capital management, the impact of the Covid-19 pandemic and signalling by United States listed banks of loan loss provisions. This study is particularly important because there is a relative dearth of research in banking on these topics and thus remain considerably under researched. Methodology- The dataset comprises a pooled cross-sectional and time series data for a sample of 249 U.S. listed banks for the period 2015 to 2020 consisting of 1,494 observations. A panel data analysis is conducted. Findings- Results overall show no evidence of systematic earnings management, capital management or signaling by the banks. Findings reveal the impact of the Covid-19 pandemic is not significant during this period of economic fragility for listed banks. The elasticity of loan loss provisions with regards to the annual growth in gross domestic product is negative and statistically significant overall. 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Econometric Evidence from Recent Panel Stationarity Tests" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Do OECD Health Expenditures Converge? Econometric Evidence from Recent Panel Stationarity Tests</div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="121346669"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="121346669"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 121346669; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=121346669]").text(description); $(".js-view-count[data-work-id=121346669]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 121346669; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='121346669']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=121346669]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":121346669,"title":"Do OECD Health Expenditures Converge? 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In particular, the paper uses the SADF and GSADF right-tailed unit root tests to explore the existence of explosive bubbles in the South African-US exchange rate for the time period running from January1980 through July 2012. The results provide evidence in support of the existence of explosive bubbles in the nominal rand-dollar exchange rate, the real exchange rate of traded and non-traded goods. The explosive behavior exhibited by the South African rand-US dollar exchange rate can be interpreted as evidence of rational bubbles given that this behavior is driven by the fundamentals including relative prices of traded and non-traded goods.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="6227c5efeb8cc77044c0fd5b8847ceef" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":109565925,"asset_id":112291305,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/109565925/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="112291305"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="112291305"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 112291305; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=112291305]").text(description); $(".js-view-count[data-work-id=112291305]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 112291305; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='112291305']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "6227c5efeb8cc77044c0fd5b8847ceef" } } $('.js-work-strip[data-work-id=112291305]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":112291305,"title":"Testing for explosive bubbles in the South African-US exchange rate using the sequential ADF procedures","translated_title":"","metadata":{"abstract":"This paper tests for the existence of speculative bubbles in the South African-US exchange rate using the sequential ADF procedures. In particular, the paper uses the SADF and GSADF right-tailed unit root tests to explore the existence of explosive bubbles in the South African-US exchange rate for the time period running from January1980 through July 2012. The results provide evidence in support of the existence of explosive bubbles in the nominal rand-dollar exchange rate, the real exchange rate of traded and non-traded goods. The explosive behavior exhibited by the South African rand-US dollar exchange rate can be interpreted as evidence of rational bubbles given that this behavior is driven by the fundamentals including relative prices of traded and non-traded goods.","publisher":"LLC CPC Business Perspectives","publication_date":{"day":null,"month":null,"year":2017,"errors":{}},"publication_name":"Banks and Bank Systems"},"translated_abstract":"This paper tests for the existence of speculative bubbles in the South African-US exchange rate using the sequential ADF procedures. In particular, the paper uses the SADF and GSADF right-tailed unit root tests to explore the existence of explosive bubbles in the South African-US exchange rate for the time period running from January1980 through July 2012. The results provide evidence in support of the existence of explosive bubbles in the nominal rand-dollar exchange rate, the real exchange rate of traded and non-traded goods. The explosive behavior exhibited by the South African rand-US dollar exchange rate can be interpreted as evidence of rational bubbles given that this behavior is driven by the fundamentals including relative prices of traded and non-traded goods.","internal_url":"https://www.academia.edu/112291305/Testing_for_explosive_bubbles_in_the_South_African_US_exchange_rate_using_the_sequential_ADF_procedures","translated_internal_url":"","created_at":"2023-12-25T15:03:13.794-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":109565925,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/109565925/thumbnails/1.jpg","file_name":"BBS_2017_01_cont_Elike.pdf","download_url":"https://www.academia.edu/attachments/109565925/download_file","bulk_download_file_name":"Testing_for_explosive_bubbles_in_the_Sou.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/109565925/BBS_2017_01_cont_Elike-libre.pdf?1703545458=\u0026response-content-disposition=attachment%3B+filename%3DTesting_for_explosive_bubbles_in_the_Sou.pdf\u0026Expires=1743223451\u0026Signature=EJkCMeq385TqcPZmKGKoMgRLi9GobXdwgJ-UyUCOL2aNGqSr6pgvH4omtqS1bj5XQj3smvBkN0EE1zkiSVE49jSyOAAhV4LsCiT8aTaam0AkyfAXraB9hl4cDYjSLPrLUjjLf44tsNe4Eae2AQiDr8c3wKmTs7ZOnwq4-9SsAlXW1w6r3vI1YwUg-XHuJlv4eS02KbgQOr8TPF4EnLkRcJc~b9qzy7bDokQ7ZAru927ehTS47E1fkxCy~cinLWUgxMWRPO5ivSFDpo7y~L6wul4mFju5mEiRYqBZCc7f-PyLUBVhtrz~eQjaHMyiD5eUo13oalv9gzDrNqmfwXQFyA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Testing_for_explosive_bubbles_in_the_South_African_US_exchange_rate_using_the_sequential_ADF_procedures","translated_slug":"","page_count":9,"language":"en","content_type":"Work","summary":"This paper tests for the existence of speculative bubbles in the South African-US exchange rate using the sequential ADF procedures. In particular, the paper uses the SADF and GSADF right-tailed unit root tests to explore the existence of explosive bubbles in the South African-US exchange rate for the time period running from January1980 through July 2012. The results provide evidence in support of the existence of explosive bubbles in the nominal rand-dollar exchange rate, the real exchange rate of traded and non-traded goods. The explosive behavior exhibited by the South African rand-US dollar exchange rate can be interpreted as evidence of rational bubbles given that this behavior is driven by the fundamentals including relative prices of traded and non-traded goods.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[{"id":109565925,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/109565925/thumbnails/1.jpg","file_name":"BBS_2017_01_cont_Elike.pdf","download_url":"https://www.academia.edu/attachments/109565925/download_file","bulk_download_file_name":"Testing_for_explosive_bubbles_in_the_Sou.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/109565925/BBS_2017_01_cont_Elike-libre.pdf?1703545458=\u0026response-content-disposition=attachment%3B+filename%3DTesting_for_explosive_bubbles_in_the_Sou.pdf\u0026Expires=1743223451\u0026Signature=EJkCMeq385TqcPZmKGKoMgRLi9GobXdwgJ-UyUCOL2aNGqSr6pgvH4omtqS1bj5XQj3smvBkN0EE1zkiSVE49jSyOAAhV4LsCiT8aTaam0AkyfAXraB9hl4cDYjSLPrLUjjLf44tsNe4Eae2AQiDr8c3wKmTs7ZOnwq4-9SsAlXW1w6r3vI1YwUg-XHuJlv4eS02KbgQOr8TPF4EnLkRcJc~b9qzy7bDokQ7ZAru927ehTS47E1fkxCy~cinLWUgxMWRPO5ivSFDpo7y~L6wul4mFju5mEiRYqBZCc7f-PyLUBVhtrz~eQjaHMyiD5eUo13oalv9gzDrNqmfwXQFyA__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":402,"name":"Environmental Science","url":"https://www.academia.edu/Documents/in/Environmental_Science"},{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":747,"name":"Econometrics","url":"https://www.academia.edu/Documents/in/Econometrics"},{"id":228986,"name":"Exchange rate","url":"https://www.academia.edu/Documents/in/Exchange_rate"},{"id":511649,"name":"Unit Root","url":"https://www.academia.edu/Documents/in/Unit_Root"},{"id":3079415,"name":"Finance and Investment Banking","url":"https://www.academia.edu/Documents/in/Finance_and_Investment_Banking"}],"urls":[{"id":37732082,"url":"https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/8632/BBS_2017_01_cont_Elike.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-112291305-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110799147"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/110799147/Asymmetric_dynamics_in_current_account_interest_rate_nexus_evidence_from_Asian_countries"><img alt="Research paper thumbnail of Asymmetric dynamics in current account - interest rate nexus: evidence from Asian countries" class="work-thumbnail" src="https://attachments.academia-assets.com/108505197/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/110799147/Asymmetric_dynamics_in_current_account_interest_rate_nexus_evidence_from_Asian_countries">Asymmetric dynamics in current account - interest rate nexus: evidence from Asian countries</a></div><div class="wp-workCard_item"><span>Investment management & financial innovations</span><span>, 2017</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper uses cointegration and asymmetric error correction models to examine the relationship ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper uses cointegration and asymmetric error correction models to examine the relationship between current account and interest rate for India, Korea, the Philippines, and Thailand. Specifically, the paper uses a battery of linearity tests including BDS, Hinich, and White procedures to determine whether or not current account and interest rate exhibit asymmetric behavior. The NLADF is applied to determine the time series properties of current account and interest rate. Nonlinear cointegration is conducted through the TAR and M-TAR models. For asymmetric adjustment, the paper implemented the Enders and Granger nonlinear error correction model. The results from the various linearity tests suggest that current account and interest rate for the sample countries exhibit nonlinear behavior. Further, the results from the TAR and M-TAR nonlinear cointegration procedures provide evidence in support of equilibrium longrun relationship between current account and interest rate. The resul...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="20d58ef7552777e1960eb95f050a8a93" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":108505197,"asset_id":110799147,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/108505197/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110799147"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110799147"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110799147; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110799147]").text(description); $(".js-view-count[data-work-id=110799147]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110799147; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110799147']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "20d58ef7552777e1960eb95f050a8a93" } } $('.js-work-strip[data-work-id=110799147]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110799147,"title":"Asymmetric dynamics in current account - interest rate nexus: evidence from Asian countries","translated_title":"","metadata":{"abstract":"This paper uses cointegration and asymmetric error correction models to examine the relationship between current account and interest rate for India, Korea, the Philippines, and Thailand. Specifically, the paper uses a battery of linearity tests including BDS, Hinich, and White procedures to determine whether or not current account and interest rate exhibit asymmetric behavior. The NLADF is applied to determine the time series properties of current account and interest rate. Nonlinear cointegration is conducted through the TAR and M-TAR models. For asymmetric adjustment, the paper implemented the Enders and Granger nonlinear error correction model. The results from the various linearity tests suggest that current account and interest rate for the sample countries exhibit nonlinear behavior. Further, the results from the TAR and M-TAR nonlinear cointegration procedures provide evidence in support of equilibrium longrun relationship between current account and interest rate. 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Economic evidence" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Is real GDP per capita panel stationary with structural breaks in African countries? Economic evidence</div><div class="wp-workCard_item"><span>Indian Journal of Economics and Business</span><span>, Dec 1, 2009</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218703"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218703"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218703; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218703]").text(description); $(".js-view-count[data-work-id=110218703]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218703; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218703']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=110218703]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218703,"title":"Is real GDP per capita panel stationary with structural breaks in African countries? 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$(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218703-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218687"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/110218687/Testing_for_explosive_bubbles_in_the_South_African_US_exchange_rate_using_the_sequential_ADF_procedures"><img alt="Research paper thumbnail of Testing for explosive bubbles in the South African-US exchange rate using the sequential ADF procedures" class="work-thumbnail" src="https://attachments.academia-assets.com/108102815/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/110218687/Testing_for_explosive_bubbles_in_the_South_African_US_exchange_rate_using_the_sequential_ADF_procedures">Testing for explosive bubbles in the South African-US exchange rate using the sequential ADF procedures</a></div><div class="wp-workCard_item"><span>Banks and Bank Systems</span><span>, Apr 25, 2017</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="2587e1347ac763872d07121fcc5ec9cb" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":108102815,"asset_id":110218687,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/108102815/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218687"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218687"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218687; 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$(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218687-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218680"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/110218680/Nonlinearity_and_the_Unit_Root_Hypothesis_for_African_Per_Capita_Real_GDP"><img alt="Research paper thumbnail of Nonlinearity and the Unit Root Hypothesis for African Per Capita Real GDP" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Nonlinearity and the Unit Root Hypothesis for African Per Capita Real GDP</div><div class="wp-workCard_item"><span>International Economic Journal</span><span>, Sep 22, 2015</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Abstract Once described as an epic center of growth tragedy, African nations have lately achieved...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Abstract Once described as an epic center of growth tragedy, African nations have lately achieved relatively rapid growth rates, which have raised hopes that the continent is finally on the path to economic convergence with other emerging economies. However, there is a need to establish whether stabilization policies for the purpose of enhancing the GDP are effective in African countries. One of the means of examining the effectiveness of these policies is through the investigation of the unit root properties of per capita GDP in the continent. This study aims to add to the existing papers on GDP in African countries by investigating the non-stationarity of per capita GDP in 52 African countries, while using a newly proposed nonlinear unit root test. The results suggest that per capita GDP follows the non-stationarity process in half of the entire sample.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218680"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218680"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218680; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218680]").text(description); $(".js-view-count[data-work-id=110218680]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218680; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218680']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=110218680]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218680,"title":"Nonlinearity and the Unit Root Hypothesis for African Per Capita Real GDP","translated_title":"","metadata":{"abstract":"Abstract Once described as an epic center of growth tragedy, African nations have lately achieved relatively rapid growth rates, which have raised hopes that the continent is finally on the path to economic convergence with other emerging economies. However, there is a need to establish whether stabilization policies for the purpose of enhancing the GDP are effective in African countries. One of the means of examining the effectiveness of these policies is through the investigation of the unit root properties of per capita GDP in the continent. This study aims to add to the existing papers on GDP in African countries by investigating the non-stationarity of per capita GDP in 52 African countries, while using a newly proposed nonlinear unit root test. The results suggest that per capita GDP follows the non-stationarity process in half of the entire sample.","publisher":"Taylor \u0026 Francis","publication_date":{"day":22,"month":9,"year":2015,"errors":{}},"publication_name":"International Economic Journal"},"translated_abstract":"Abstract Once described as an epic center of growth tragedy, African nations have lately achieved relatively rapid growth rates, which have raised hopes that the continent is finally on the path to economic convergence with other emerging economies. However, there is a need to establish whether stabilization policies for the purpose of enhancing the GDP are effective in African countries. One of the means of examining the effectiveness of these policies is through the investigation of the unit root properties of per capita GDP in the continent. 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The results suggest that per capita GDP follows the non-stationarity process in half of the entire sample.","internal_url":"https://www.academia.edu/110218680/Nonlinearity_and_the_Unit_Root_Hypothesis_for_African_Per_Capita_Real_GDP","translated_internal_url":"","created_at":"2023-11-30T08:42:18.867-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"Nonlinearity_and_the_Unit_Root_Hypothesis_for_African_Per_Capita_Real_GDP","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":"Abstract Once described as an epic center of growth tragedy, African nations have lately achieved relatively rapid growth rates, which have raised hopes that the continent is finally on the path to economic convergence with other emerging economies. However, there is a need to establish whether stabilization policies for the purpose of enhancing the GDP are effective in African countries. One of the means of examining the effectiveness of these policies is through the investigation of the unit root properties of per capita GDP in the continent. This study aims to add to the existing papers on GDP in African countries by investigating the non-stationarity of per capita GDP in 52 African countries, while using a newly proposed nonlinear unit root test. The results suggest that per capita GDP follows the non-stationarity process in half of the entire sample.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":511649,"name":"Unit Root","url":"https://www.academia.edu/Documents/in/Unit_Root"},{"id":541021,"name":"Unit Root Test","url":"https://www.academia.edu/Documents/in/Unit_Root_Test"},{"id":1117206,"name":"Economic","url":"https://www.academia.edu/Documents/in/Economic"},{"id":1733266,"name":"Per Capita Income","url":"https://www.academia.edu/Documents/in/Per_Capita_Income"},{"id":3227517,"name":"Gross Domestic Product","url":"https://www.academia.edu/Documents/in/Gross_Domestic_Product"},{"id":3375557,"name":"Real Gross Domestic Product","url":"https://www.academia.edu/Documents/in/Real_Gross_Domestic_Product"}],"urls":[{"id":36175501,"url":"https://doi.org/10.1080/10168737.2015.1081615"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218680-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218677"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/110218677/The_Permanent_and_Transitory_Effects_of_Budget_Deficits_on_Private_Investment_in_South_Africa"><img alt="Research paper thumbnail of The Permanent and Transitory Effects of Budget Deficits on Private Investment in South Africa" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">The Permanent and Transitory Effects of Budget Deficits on Private Investment in South Africa</div><div class="wp-workCard_item"><span>Studies in Economics and Econometrics</span><span>, Aug 1, 2005</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Abstract This paper investigates the effects of the permanent and transitory budget deficits on p...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Abstract This paper investigates the effects of the permanent and transitory budget deficits on private investment for South Africa. Specifically, the paper utilizes cointegration and error-correction models (ECM) to explore the long-run relationship between permanent budget deficits, private investment and transitory budget deficits. The results from the study suggest that (i) there is a long run relationship between permanent budget deficits, private investment and transitory budget deficits and (ii) the transitory rather than the permanent component of the budget deficits is an important determinant of private investment for South Africa. Above all, the study finds that transitory budget deficits crowd out private investment for the period under consideration.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218677"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218677"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218677; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218677]").text(description); $(".js-view-count[data-work-id=110218677]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218677; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218677']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=110218677]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218677,"title":"The Permanent and Transitory Effects of Budget Deficits on Private Investment in South Africa","translated_title":"","metadata":{"abstract":"Abstract This paper investigates the effects of the permanent and transitory budget deficits on private investment for South Africa. 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Specifically, the paper utilizes cointegration and error-correction models (ECM) to explore the long-run relationship between permanent budget deficits, private investment and transitory budget deficits. The results from the study suggest that (i) there is a long run relationship between permanent budget deficits, private investment and transitory budget deficits and (ii) the transitory rather than the permanent component of the budget deficits is an important determinant of private investment for South Africa. Above all, the study finds that transitory budget deficits crowd out private investment for the period under consideration.","internal_url":"https://www.academia.edu/110218677/The_Permanent_and_Transitory_Effects_of_Budget_Deficits_on_Private_Investment_in_South_Africa","translated_internal_url":"","created_at":"2023-11-30T08:42:17.282-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"The_Permanent_and_Transitory_Effects_of_Budget_Deficits_on_Private_Investment_in_South_Africa","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":"Abstract This paper investigates the effects of the permanent and transitory budget deficits on private investment for South Africa. Specifically, the paper utilizes cointegration and error-correction models (ECM) to explore the long-run relationship between permanent budget deficits, private investment and transitory budget deficits. The results from the study suggest that (i) there is a long run relationship between permanent budget deficits, private investment and transitory budget deficits and (ii) the transitory rather than the permanent component of the budget deficits is an important determinant of private investment for South Africa. Above all, the study finds that transitory budget deficits crowd out private investment for the period under consideration.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":747,"name":"Econometrics","url":"https://www.academia.edu/Documents/in/Econometrics"},{"id":27659,"name":"Applied Economics","url":"https://www.academia.edu/Documents/in/Applied_Economics"},{"id":176461,"name":"Cointegration","url":"https://www.academia.edu/Documents/in/Cointegration"},{"id":3852838,"name":"Deficit spending","url":"https://www.academia.edu/Documents/in/Deficit_spending"}],"urls":[{"id":36175499,"url":"https://doi.org/10.1080/10800379.2005.12106389"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218677-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218672"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/110218672/International_Real_Estate_Review"><img alt="Research paper thumbnail of International Real Estate Review" class="work-thumbnail" src="https://attachments.academia-assets.com/108102803/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/110218672/International_Real_Estate_Review">International Real Estate Review</a></div><div class="wp-workCard_item"><span>International Real Estate Review</span><span>, Dec 31, 2010</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This study examines the long memory properties of composite, equity, mortgage, and hybrid real es...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This study examines the long memory properties of composite, equity, mortgage, and hybrid real estate investment trust (REIT) returns by using semi-parametric and wavelet estimators. In particular, this paper applies the GPH semi-parametric estimator, the Haar and the Daubechies wavelet procedures to investigate the long memory properties of REIT returns. The results from the various procedures reveal that composite, equity, mortgage, and hybrid REIT returns are long memory processes with anti-persistence. The existence of long memory suggests that the dynamics which govern the four return series contain predictable components. This finding indicates that the markets for composite, equity, mortgage, and hybrid REITs are inefficient. The fact that these markets are inefficient suggests that investors can devise profitable strategies by using historical data or past information.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="21a8bf1d946bc7ebb8f39aa341cd7c97" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":108102803,"asset_id":110218672,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/108102803/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218672"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218672"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218672; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218672]").text(description); $(".js-view-count[data-work-id=110218672]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218672; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218672']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "21a8bf1d946bc7ebb8f39aa341cd7c97" } } $('.js-work-strip[data-work-id=110218672]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218672,"title":"International Real Estate Review","translated_title":"","metadata":{"grobid_abstract":"This study examines the long memory properties of composite, equity, mortgage, and hybrid real estate investment trust (REIT) returns by using semi-parametric and wavelet estimators. 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$(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218672-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218669"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/110218669/Openness_and_Economic_Growth_Evidence_from_Selected_Asean_Countries"><img alt="Research paper thumbnail of Openness and Economic Growth: Evidence from Selected Asean Countries" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Openness and Economic Growth: Evidence from Selected Asean Countries</div><div class="wp-workCard_item"><span>The Indian Economic Journal</span><span>, Mar 1, 2000</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218669"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218669"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218669; 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Econometric Evidence from Recent Panel Stationarity Tests</div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218665"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218665"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218665; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218665]").text(description); $(".js-view-count[data-work-id=110218665]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218665; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218665']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=110218665]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218665,"title":"Do OECD Health Expenditures Converge? 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Specifically, the paper uses a battery of linearity tests including BDS, Hinich, and White procedures to determine whether or not current account and interest rate exhibit asymmetric behavior. The NLADF is applied to determine the time series properties of current account and interest rate. Nonlinear cointegration is conducted through the TAR and M-TAR models. For asymmetric adjustment, the paper implemented the Enders and Granger nonlinear error correction model. The results from the various linearity tests suggest that current account and interest rate for the sample countries exhibit nonlinear behavior. Further, the results from the TAR and M-TAR nonlinear cointegration procedures provide evidence in support of equilibrium longrun relationship between current account and interest rate. The results from the asymmetric error correction models indicate a web of interactions between the current account and interest rate series. From policy perspective, the authorities can alter current account imbalances by manipulating interest rate and vice versa.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="c1cd51b4fb379aba223381e7feab2264" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":108102853,"asset_id":110218662,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/108102853/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218662"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218662"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218662; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218662]").text(description); $(".js-view-count[data-work-id=110218662]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218662; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218662']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "c1cd51b4fb379aba223381e7feab2264" } } $('.js-work-strip[data-work-id=110218662]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218662,"title":"Asymmetric dynamics in current account - interest rate nexus: evidence from Asian countries","translated_title":"","metadata":{"publisher":"DOAJ: Directory of Open Access Journals","ai_title_tag":"Current Account-Interest Rate Dynamics in Asia","grobid_abstract":"This paper uses cointegration and asymmetric error correction models to examine the relationship between current account and interest rate for India, Korea, the Philippines, and Thailand. 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In particular, the paper applies the nonparametric variance-ratio tests proposed by Wright (2000). The two important findings that emerge from this study are: first, contrary to most of the earlier studies on this issue, this study finds evidence against random walk behavior for currency returns of all sample countries; second, the rejection of the null hypothesis of random walk suggests that shocks to the currency return series are temporary. This finding implies that foreign exchange markets of the sample countries are inefficient and present opportunities to aggressive investors who seek high rates of return irrespective of the level of risk involved.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218659"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218659"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218659; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218659]").text(description); $(".js-view-count[data-work-id=110218659]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218659; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218659']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=110218659]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218659,"title":"Testing Random Walk Behavior of Currency Returns for African Countries","translated_title":"","metadata":{"abstract":"This paper investigates the random walk behavior of currency returns for 15 African countries, namely, Ethiopia, Gambia, Ghana, Kenya, Madagascar, Mali, Mauritius, Morocco, Nigeria, Rwanda, Sierra Leone, South Africa, Tanzania, Uganda, and Zambia. In particular, the paper applies the nonparametric variance-ratio tests proposed by Wright (2000). The two important findings that emerge from this study are: first, contrary to most of the earlier studies on this issue, this study finds evidence against random walk behavior for currency returns of all sample countries; second, the rejection of the null hypothesis of random walk suggests that shocks to the currency return series are temporary. This finding implies that foreign exchange markets of the sample countries are inefficient and present opportunities to aggressive investors who seek high rates of return irrespective of the level of risk involved.","publication_date":{"day":null,"month":null,"year":2015,"errors":{}},"publication_name":"The IUP Journal of Applied Economics"},"translated_abstract":"This paper investigates the random walk behavior of currency returns for 15 African countries, namely, Ethiopia, Gambia, Ghana, Kenya, Madagascar, Mali, Mauritius, Morocco, Nigeria, Rwanda, Sierra Leone, South Africa, Tanzania, Uganda, and Zambia. In particular, the paper applies the nonparametric variance-ratio tests proposed by Wright (2000). The two important findings that emerge from this study are: first, contrary to most of the earlier studies on this issue, this study finds evidence against random walk behavior for currency returns of all sample countries; second, the rejection of the null hypothesis of random walk suggests that shocks to the currency return series are temporary. This finding implies that foreign exchange markets of the sample countries are inefficient and present opportunities to aggressive investors who seek high rates of return irrespective of the level of risk involved.","internal_url":"https://www.academia.edu/110218659/Testing_Random_Walk_Behavior_of_Currency_Returns_for_African_Countries","translated_internal_url":"","created_at":"2023-11-30T08:42:07.693-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"Testing_Random_Walk_Behavior_of_Currency_Returns_for_African_Countries","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":"This paper investigates the random walk behavior of currency returns for 15 African countries, namely, Ethiopia, Gambia, Ghana, Kenya, Madagascar, Mali, Mauritius, Morocco, Nigeria, Rwanda, Sierra Leone, South Africa, Tanzania, Uganda, and Zambia. In particular, the paper applies the nonparametric variance-ratio tests proposed by Wright (2000). The two important findings that emerge from this study are: first, contrary to most of the earlier studies on this issue, this study finds evidence against random walk behavior for currency returns of all sample countries; second, the rejection of the null hypothesis of random walk suggests that shocks to the currency return series are temporary. This finding implies that foreign exchange markets of the sample countries are inefficient and present opportunities to aggressive investors who seek high rates of return irrespective of the level of risk involved.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":69856,"name":"Social Science Research Network","url":"https://www.academia.edu/Documents/in/Social_Science_Research_Network"},{"id":78086,"name":"Random Walk","url":"https://www.academia.edu/Documents/in/Random_Walk"},{"id":271890,"name":"Currency","url":"https://www.academia.edu/Documents/in/Currency"},{"id":1032083,"name":"Random Walk Hypothesis","url":"https://www.academia.edu/Documents/in/Random_Walk_Hypothesis"}],"urls":[{"id":36175487,"url":"https://www.questia.com/library/journal/1P3-3728576881/testing-random-walk-behavior-of-currency-returns-for"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218659-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218655"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" rel="nofollow" href="https://www.academia.edu/110218655/Asymmetric_Volatility_Transmission_between_Home_Foreclosures_Housing_Prices_Unemployment_Rate_and_Adjustable_Mortgage_Rates"><img alt="Research paper thumbnail of Asymmetric Volatility Transmission between Home Foreclosures, Housing Prices, Unemployment Rate and Adjustable Mortgage Rates" class="work-thumbnail" src="https://a.academia-assets.com/images/blank-paper.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title">Asymmetric Volatility Transmission between Home Foreclosures, Housing Prices, Unemployment Rate and Adjustable Mortgage Rates</div><div class="wp-workCard_item"><span>The IUP Journal of Applied Economics</span><span>, 2016</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosur...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218655"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218655"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218655; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218655]").text(description); $(".js-view-count[data-work-id=110218655]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218655; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218655']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=110218655]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218655,"title":"Asymmetric Volatility Transmission between Home Foreclosures, Housing Prices, Unemployment Rate and Adjustable Mortgage Rates","translated_title":"","metadata":{"abstract":"This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.","publication_date":{"day":null,"month":null,"year":2016,"errors":{}},"publication_name":"The IUP Journal of Applied Economics"},"translated_abstract":"This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.","internal_url":"https://www.academia.edu/110218655/Asymmetric_Volatility_Transmission_between_Home_Foreclosures_Housing_Prices_Unemployment_Rate_and_Adjustable_Mortgage_Rates","translated_internal_url":"","created_at":"2023-11-30T08:42:05.980-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"Asymmetric_Volatility_Transmission_between_Home_Foreclosures_Housing_Prices_Unemployment_Rate_and_Adjustable_Mortgage_Rates","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":"This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":738,"name":"Monetary Economics","url":"https://www.academia.edu/Documents/in/Monetary_Economics"},{"id":7176,"name":"Unemployment","url":"https://www.academia.edu/Documents/in/Unemployment"},{"id":50679,"name":"Financial Crisis","url":"https://www.academia.edu/Documents/in/Financial_Crisis"},{"id":69856,"name":"Social Science Research Network","url":"https://www.academia.edu/Documents/in/Social_Science_Research_Network"},{"id":501263,"name":"Subprime Mortgage Crisis","url":"https://www.academia.edu/Documents/in/Subprime_Mortgage_Crisis"},{"id":1243561,"name":"Spillover Effect","url":"https://www.academia.edu/Documents/in/Spillover_Effect"},{"id":2523694,"name":"Unemployment rate","url":"https://www.academia.edu/Documents/in/Unemployment_rate"}],"urls":[{"id":36175484,"url":"https://www.questia.com/library/journal/1P3-3976102391/asymmetric-volatility-transmission-between-home-foreclosures"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218655-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218651"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/110218651/Classification_and_Regression_Tree_Model_to_Predict_the_Probability_of_a_Product_being_Backordered_in_Supply_Chain"><img alt="Research paper thumbnail of Classification and Regression Tree Model to Predict the Probability of a Product being Backordered in Supply Chain" class="work-thumbnail" src="https://attachments.academia-assets.com/108102789/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/110218651/Classification_and_Regression_Tree_Model_to_Predict_the_Probability_of_a_Product_being_Backordered_in_Supply_Chain">Classification and Regression Tree Model to Predict the Probability of a Product being Backordered in Supply Chain</a></div><div class="wp-workCard_item"><span>International Journal of Supply Chain Management</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">Supply chain uncertainties pose a massive and ever-present challenge for modern companies. These ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">Supply chain uncertainties pose a massive and ever-present challenge for modern companies. These uncertainties can manifest in two contrasting scenarios: supply surplus, where companies have excess items, and supply shortages, where there is an insufficient quantity of goods. Each situation demands a different approach from businesses to adapt to the varying outcomes and maintain a competitive edge in the market. Product backordering is one of the important things that companies need to deal with in an uncertain supply chain. A backorder occurs when a customer-ordered product or service is not in stock or cannot be supplied immediately, and the customer has to wait. Companies striving for a balance in managing backorders. Machine learning models can help to determine the probability of a product being backordered. In this research, we develop Classification and Regression Tree (CART) model that uses previously known parameters to predict the likelihood of a product being backordered...</span></div><div class="wp-workCard_item"><div class="carousel-container carousel-container--sm" id="profile-work-110218651-figures"><div class="prev-slide-container js-prev-button-container"><button aria-label="Previous" class="carousel-navigation-button js-profile-work-110218651-figures-prev"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">arrow_back_ios</span></button></div><div class="slides-container js-slides-container"><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/30282362/figure-1-probability-of-product-being-backordered-based-on"><img alt="Figure 1: Probability of a product being backordered based on different features " class="figure-slide-image" src="https://figures.academia-assets.com/108102789/figure_001.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/30282366/figure-2-variable-importance-from-cart-model-shows-the"><img alt="Figure 2: Variable importance from CART model Figure 2 shows the variables importance from the CART model. The sales quantity for the prior 3- month time period has the highest importance among all the variables. Only the amount of stock orders overdue has less than 10% importance level. Although the CART model considers 21 variables to develop the model, actually two variables were used in this model to construct the tree as shown in Figure 1. From Figure 1, we can say that if the current inventory level of a part is less than 2 and the sales quantity for the prior 3-month time period is greater than or equal to 3, then the probability that a product will be backordered is 15%. However, there is less than a 1% probability of a product being backordered if the current inventory level for a part is greater than or equal to two. " class="figure-slide-image" src="https://figures.academia-assets.com/108102789/figure_002.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/30282371/table-1-classification-and-regression-tree-model-to-predict"><img alt="" class="figure-slide-image" src="https://figures.academia-assets.com/108102789/table_001.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/30282374/table-2-model-parameters-the-probability-of-product-being"><img alt="Table 2: Model Parameters the probability of a product being backordered is over 50%. Consequently, model's ability to pred accuracy is defined as the ict correctly whether a product is being backordered. Sensitivity is defined as the model’s ability to identify the occurrence of a product being backord ered, while specificity is the ability to identify the non-occurrence of a product being backordere d. " class="figure-slide-image" src="https://figures.academia-assets.com/108102789/table_002.jpg" /></a></figure></div><div class="next-slide-container js-next-button-container"><button aria-label="Next" class="carousel-navigation-button js-profile-work-110218651-figures-next"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">arrow_forward_ios</span></button></div></div></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="85a2626a6f9a2c89386e83f44a9d9861" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":108102789,"asset_id":110218651,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/108102789/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218651"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218651"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218651; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218651]").text(description); $(".js-view-count[data-work-id=110218651]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218651; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218651']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "85a2626a6f9a2c89386e83f44a9d9861" } } $('.js-work-strip[data-work-id=110218651]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218651,"title":"Classification and Regression Tree Model to Predict the Probability of a Product being Backordered in Supply Chain","translated_title":"","metadata":{"abstract":"Supply chain uncertainties pose a massive and ever-present challenge for modern companies. These uncertainties can manifest in two contrasting scenarios: supply surplus, where companies have excess items, and supply shortages, where there is an insufficient quantity of goods. Each situation demands a different approach from businesses to adapt to the varying outcomes and maintain a competitive edge in the market. Product backordering is one of the important things that companies need to deal with in an uncertain supply chain. A backorder occurs when a customer-ordered product or service is not in stock or cannot be supplied immediately, and the customer has to wait. Companies striving for a balance in managing backorders. Machine learning models can help to determine the probability of a product being backordered. 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A backorder occurs when a customer-ordered product or service is not in stock or cannot be supplied immediately, and the customer has to wait. Companies striving for a balance in managing backorders. Machine learning models can help to determine the probability of a product being backordered. In this research, we develop Classification and Regression Tree (CART) model that uses previously known parameters to predict the likelihood of a product being backordered...","internal_url":"https://www.academia.edu/110218651/Classification_and_Regression_Tree_Model_to_Predict_the_Probability_of_a_Product_being_Backordered_in_Supply_Chain","translated_internal_url":"","created_at":"2023-11-30T08:42:04.164-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":108102789,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/108102789/thumbnails/1.jpg","file_name":"3191.pdf","download_url":"https://www.academia.edu/attachments/108102789/download_file","bulk_download_file_name":"Classification_and_Regression_Tree_Model.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/108102789/3191-libre.pdf?1701377106=\u0026response-content-disposition=attachment%3B+filename%3DClassification_and_Regression_Tree_Model.pdf\u0026Expires=1743223452\u0026Signature=L8ZYFO1hjJRmLeGMil2CD7v~N3IzWPKNstvcOkLugCvXdyY9shhinGBcwGyTg-yJmYocMcsdmVN8r36L5Zu2fcQu6KiO9ZWffFIkwLlTUl~HwfTJtqpwbVCajSuJLPegjcouE5pCKgM4q1JW~IwYJwi~gTxFtoK2L76DlHyPXZkmPw7DzgRb5vgtsBp4iFp6P11kyC4t1guk78hXKFCqQcrAiBcb8lNJ46rMtg314W9MwGaQbLgcCwSzAKNnfrhqrYDf-WZ2~dgl0L~cO6WQTdlOrGnMqFCJyQSIwNhJSodigPLkuyKHytOqboQQW36Uamwq5fsMQdShm8NGTXFyyQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Classification_and_Regression_Tree_Model_to_Predict_the_Probability_of_a_Product_being_Backordered_in_Supply_Chain","translated_slug":"","page_count":8,"language":"en","content_type":"Work","summary":"Supply chain uncertainties pose a massive and ever-present challenge for modern companies. 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Employing quarterly ...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This study investigates the determinants of the profitability of U.S. banks. Employing quarterly data, this paper further examines the historical and recent trends for all U.S. banks from 1996 to 2019 in the relationship between return and assets (ROA) and other bank internal (or endogenous) profitability contributors such as net interest margin (NIM), loan loss reserves, ratio of non-performing loans to gross loans, and external (or exogenous) macroeconomic variables, such as the 30-year average mortgage rate, Gross Domestic Product (GDP) economic growth rate, unemployment rate, interest rate, inflation rate and openness (i.e., exports + imports/GDP) by using the Generalized Method of Moments (GMM) estimator technique. The results reveal that bank-specific variables, including net interest margin, loan loss reserves and non-performing loans, have a significant impact on bank profitability in the United States. Similarly, the results show that macroeconomic variables, namely the ave...</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="58795bcffa43100917ef3eeb14284091" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":108102788,"asset_id":110218647,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/108102788/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218647"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218647"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218647; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218647]").text(description); $(".js-view-count[data-work-id=110218647]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218647; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218647']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "58795bcffa43100917ef3eeb14284091" } } $('.js-work-strip[data-work-id=110218647]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218647,"title":"An empirical analysis of the determinants of the U.S. banks’ profitability","translated_title":"","metadata":{"abstract":"This study investigates the determinants of the profitability of U.S. banks. Employing quarterly data, this paper further examines the historical and recent trends for all U.S. banks from 1996 to 2019 in the relationship between return and assets (ROA) and other bank internal (or endogenous) profitability contributors such as net interest margin (NIM), loan loss reserves, ratio of non-performing loans to gross loans, and external (or exogenous) macroeconomic variables, such as the 30-year average mortgage rate, Gross Domestic Product (GDP) economic growth rate, unemployment rate, interest rate, inflation rate and openness (i.e., exports + imports/GDP) by using the Generalized Method of Moments (GMM) estimator technique. The results reveal that bank-specific variables, including net interest margin, loan loss reserves and non-performing loans, have a significant impact on bank profitability in the United States. 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Similarly, the results show that macroeconomic variables, namely the ave...","internal_url":"https://www.academia.edu/110218647/An_empirical_analysis_of_the_determinants_of_the_U_S_banks_profitability","translated_internal_url":"","created_at":"2023-11-30T08:42:02.459-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":108102788,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/108102788/thumbnails/1.jpg","file_name":"BBS_2021_04_Chukwuogor.pdf","download_url":"https://www.academia.edu/attachments/108102788/download_file","bulk_download_file_name":"An_empirical_analysis_of_the_determinant.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/108102788/BBS_2021_04_Chukwuogor-libre.pdf?1701377104=\u0026response-content-disposition=attachment%3B+filename%3DAn_empirical_analysis_of_the_determinant.pdf\u0026Expires=1743223452\u0026Signature=DfzVtMoKQVQP54FS6pocfg2Z7GUt24ZV6gKbHCPsEqzH4u-03sBoZuO~4FBES6q6wxpxWf3Lh~OBIZlHwFdBmW-ZJWvEhAnPpoVWwKV6wVHe0qHl5UNoYryrO2k0lsh7EyQANEvtgo6r2xY43ZLEJZ9HxLK5Jbr2uQBxcYTD4qseJzzqh0veRrwxK1QtowxPylIqjZHdjNFRVy7i8glEe2CdxZ4C6mvleAcj92v4xJD~mcLpxQRntAS5uWW96ayGVjItHa~l4r6JlBePZq7QrJzMzVegT7c1QFSwYyRx8LhOcfm0ohJIvfM1ss5pbYNDbveYJ74bITao~8Ow4Qprxw__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"An_empirical_analysis_of_the_determinants_of_the_U_S_banks_profitability","translated_slug":"","page_count":10,"language":"en","content_type":"Work","summary":"This study investigates the determinants of the profitability of U.S. banks. 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The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218644"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218644"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218644; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218644]").text(description); $(".js-view-count[data-work-id=110218644]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218644; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218644']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (false){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "-1" } } $('.js-work-strip[data-work-id=110218644]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218644,"title":"Asymmetric Volatility Transmission between Home Foreclosures, Housing Prices, Unemployment Rate and Adjustable Mortgage Rates","translated_title":"","metadata":{"abstract":"This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. 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These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.","internal_url":"https://www.academia.edu/110218644/Asymmetric_Volatility_Transmission_between_Home_Foreclosures_Housing_Prices_Unemployment_Rate_and_Adjustable_Mortgage_Rates","translated_internal_url":"","created_at":"2023-11-30T08:42:00.980-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[],"slug":"Asymmetric_Volatility_Transmission_between_Home_Foreclosures_Housing_Prices_Unemployment_Rate_and_Adjustable_Mortgage_Rates","translated_slug":"","page_count":null,"language":"en","content_type":"Work","summary":"This paper uses the EGARCH model to investigate the volatility spillovers between home foreclosures, adjustable mortgage rates, housing prices and unemployment rate for the US. The results provide evidence of volatility spillover effects from adjustable mortgage rates, home foreclosures and unemployment rate to housing prices. The results further indicate the presence of volatility spillover effects from housing prices to home foreclosures. However, unemployment rate is affected only by volatility spillover from adjustable mortgage rates. These results imply that to mitigate the problem of volatility in housing market, the policy maker should coordinate adjustable mortgage rates, housing prices and home foreclosures. In other words, the authorities cannot effectively use foreclosure strategies to influence the housing market without considering adjustable mortgage rates, housing prices and unemployment rate.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":738,"name":"Monetary Economics","url":"https://www.academia.edu/Documents/in/Monetary_Economics"},{"id":7176,"name":"Unemployment","url":"https://www.academia.edu/Documents/in/Unemployment"},{"id":50679,"name":"Financial Crisis","url":"https://www.academia.edu/Documents/in/Financial_Crisis"},{"id":69856,"name":"Social Science Research Network","url":"https://www.academia.edu/Documents/in/Social_Science_Research_Network"},{"id":501263,"name":"Subprime Mortgage Crisis","url":"https://www.academia.edu/Documents/in/Subprime_Mortgage_Crisis"},{"id":1243561,"name":"Spillover Effect","url":"https://www.academia.edu/Documents/in/Spillover_Effect"},{"id":2523694,"name":"Unemployment rate","url":"https://www.academia.edu/Documents/in/Unemployment_rate"}],"urls":[]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218644-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="110218488"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/110218488/Long_Run_Relationship_Between_Economic_Growth_and_Stock_Returns_An_Empirical_Investigation_on_Canada_and_the_United_States"><img alt="Research paper thumbnail of Long-Run Relationship Between Economic Growth and Stock Returns: An Empirical Investigation on Canada and the United States" class="work-thumbnail" src="https://attachments.academia-assets.com/108102736/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/110218488/Long_Run_Relationship_Between_Economic_Growth_and_Stock_Returns_An_Empirical_Investigation_on_Canada_and_the_United_States">Long-Run Relationship Between Economic Growth and Stock Returns: An Empirical Investigation on Canada and the United States</a></div><div class="wp-workCard_item"><span>Ekonomicky Casopis</span><span>, 2006</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This article examines the long run relationship between economic growth and stock prices for Cana...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This article examines the long run relationship between economic growth and stock prices for Canada and the United States through cointegration estimation procedure, and it implements the Vector Error Correction Models (VECM) to abstract simultaneously the short-and long-run information in the modeling process. Results from the cointegration tests reveal that economic growth and stock prices share long run equilibrium relationship for both Canada and the U.S. The results from the VECM indicate that for the U.S., causality runs from economic growth to stock prices but not vice versa. However for Canada, the results reveal that there is a bi-directional causality between economic growth and stock prices.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="a31a5a937a1a25aa00e110f5d5845999" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":108102736,"asset_id":110218488,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/108102736/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="110218488"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="110218488"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 110218488; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=110218488]").text(description); $(".js-view-count[data-work-id=110218488]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 110218488; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='110218488']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "a31a5a937a1a25aa00e110f5d5845999" } } $('.js-work-strip[data-work-id=110218488]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":110218488,"title":"Long-Run Relationship Between Economic Growth and Stock Returns: An Empirical Investigation on Canada and the United States","translated_title":"","metadata":{"publisher":"Central Library of the Slovak Academy of Sciences","grobid_abstract":"This article examines the long run relationship between economic growth and stock prices for Canada and the United States through cointegration estimation procedure, and it implements the Vector Error Correction Models (VECM) to abstract simultaneously the short-and long-run information in the modeling process. Results from the cointegration tests reveal that economic growth and stock prices share long run equilibrium relationship for both Canada and the U.S. The results from the VECM indicate that for the U.S., causality runs from economic growth to stock prices but not vice versa. However for Canada, the results reveal that there is a bi-directional causality between economic growth and stock prices.","publication_date":{"day":null,"month":null,"year":2006,"errors":{}},"publication_name":"Ekonomicky Casopis","grobid_abstract_attachment_id":108102736},"translated_abstract":null,"internal_url":"https://www.academia.edu/110218488/Long_Run_Relationship_Between_Economic_Growth_and_Stock_Returns_An_Empirical_Investigation_on_Canada_and_the_United_States","translated_internal_url":"","created_at":"2023-11-30T08:39:31.357-08:00","preview_url":null,"current_user_can_edit":null,"current_user_is_owner":null,"owner_id":14219818,"coauthors_can_edit":true,"document_type":"paper","co_author_tags":[],"downloadable_attachments":[{"id":108102736,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/108102736/thumbnails/1.jpg","file_name":"6799227.pdf","download_url":"https://www.academia.edu/attachments/108102736/download_file","bulk_download_file_name":"Long_Run_Relationship_Between_Economic_G.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/108102736/6799227-libre.pdf?1701377106=\u0026response-content-disposition=attachment%3B+filename%3DLong_Run_Relationship_Between_Economic_G.pdf\u0026Expires=1743223452\u0026Signature=e-HpSZ1aEro~b0ugmgfIKRUCrarA44UTyMA48ur2MYMzd5K8H0pXiWEc7LoIMdFLkX1hzSAooIbl-xX9vvTUlFTGgyBi4~yNcp-ofREz3tPOUQDlsIH7fJWH67AJpRj9WkYgVJ4uBfLOUBHPyMULVHGe3fsrEL0rywrM9c95DKYu4Uok84VcWO3IOqfj9Guj8DJVctFtw0mU8bxr8wGD5-kycmg45EytEG8Aax3JOfVKNRcUUjqt96FbWme0n156NS9JYb6xHpZ2-nGn3RPliAXTiGaQGtezFYL2ywabb54dY-IwY-Qx854xhnMtD71rfybj8XUJV0xfeYYzx9WRpQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"slug":"Long_Run_Relationship_Between_Economic_Growth_and_Stock_Returns_An_Empirical_Investigation_on_Canada_and_the_United_States","translated_slug":"","page_count":14,"language":"en","content_type":"Work","summary":"This article examines the long run relationship between economic growth and stock prices for Canada and the United States through cointegration estimation procedure, and it implements the Vector Error Correction Models (VECM) to abstract simultaneously the short-and long-run information in the modeling process. Results from the cointegration tests reveal that economic growth and stock prices share long run equilibrium relationship for both Canada and the U.S. The results from the VECM indicate that for the U.S., causality runs from economic growth to stock prices but not vice versa. However for Canada, the results reveal that there is a bi-directional causality between economic growth and stock prices.","owner":{"id":14219818,"first_name":"Emmanuel","middle_initials":null,"last_name":"Anoruo","page_name":"Anoruo","domain_name":"coppin","created_at":"2014-07-22T12:16:12.139-07:00","display_name":"Emmanuel Anoruo","url":"https://coppin.academia.edu/Anoruo"},"attachments":[{"id":108102736,"title":"","file_type":"pdf","scribd_thumbnail_url":"https://attachments.academia-assets.com/108102736/thumbnails/1.jpg","file_name":"6799227.pdf","download_url":"https://www.academia.edu/attachments/108102736/download_file","bulk_download_file_name":"Long_Run_Relationship_Between_Economic_G.pdf","bulk_download_url":"https://d1wqtxts1xzle7.cloudfront.net/108102736/6799227-libre.pdf?1701377106=\u0026response-content-disposition=attachment%3B+filename%3DLong_Run_Relationship_Between_Economic_G.pdf\u0026Expires=1743223452\u0026Signature=e-HpSZ1aEro~b0ugmgfIKRUCrarA44UTyMA48ur2MYMzd5K8H0pXiWEc7LoIMdFLkX1hzSAooIbl-xX9vvTUlFTGgyBi4~yNcp-ofREz3tPOUQDlsIH7fJWH67AJpRj9WkYgVJ4uBfLOUBHPyMULVHGe3fsrEL0rywrM9c95DKYu4Uok84VcWO3IOqfj9Guj8DJVctFtw0mU8bxr8wGD5-kycmg45EytEG8Aax3JOfVKNRcUUjqt96FbWme0n156NS9JYb6xHpZ2-nGn3RPliAXTiGaQGtezFYL2ywabb54dY-IwY-Qx854xhnMtD71rfybj8XUJV0xfeYYzx9WRpQ__\u0026Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics"},{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth"},{"id":186306,"name":"Interest Rates","url":"https://www.academia.edu/Documents/in/Interest_Rates"},{"id":663534,"name":"Interest Rate","url":"https://www.academia.edu/Documents/in/Interest_Rate"},{"id":3726280,"name":"cointegration test","url":"https://www.academia.edu/Documents/in/cointegration_test"}],"urls":[{"id":36175363,"url":"https://www.ceeol.com/content-files/document-214440.pdf"}]}, dispatcherData: dispatcherData }); $(this).data('initialized', true); } }); $a.trackClickSource(".js-work-strip-work-link", "profile_work_strip") if (false) { Aedu.setUpFigureCarousel('profile-work-110218488-figures'); } }); </script> <div class="js-work-strip profile--work_container" data-work-id="106319502"><div class="profile--work_thumbnail hidden-xs"><a class="js-work-strip-work-link" data-click-track="profile-work-strip-thumbnail" href="https://www.academia.edu/106319502/Human_Capital_Economic_Growth_Nexus_in_Africa_Heterogeneous_Panel_Causality_Approach"><img alt="Research paper thumbnail of Human Capital-Economic Growth Nexus in Africa: Heterogeneous Panel Causality Approach" class="work-thumbnail" src="https://attachments.academia-assets.com/105549495/thumbnails/1.jpg" /></a></div><div class="wp-workCard wp-workCard_itemContainer"><div class="wp-workCard_item wp-workCard--title"><a class="js-work-strip-work-link text-gray-darker" data-click-track="profile-work-strip-title" href="https://www.academia.edu/106319502/Human_Capital_Economic_Growth_Nexus_in_Africa_Heterogeneous_Panel_Causality_Approach">Human Capital-Economic Growth Nexus in Africa: Heterogeneous Panel Causality Approach</a></div><div class="wp-workCard_item"><span>International Journal of Economics and Financial Issues</span><span>, 2015</span></div><div class="wp-workCard_item"><span class="js-work-more-abstract-truncated">This paper examines the causal relationship between human capital (HC) and economic growth (EG) f...</span><a class="js-work-more-abstract" data-broccoli-component="work_strip.more_abstract" data-click-track="profile-work-strip-more-abstract" href="javascript:;"><span> more </span><span><i class="fa fa-caret-down"></i></span></a><span class="js-work-more-abstract-untruncated hidden">This paper examines the causal relationship between human capital (HC) and economic growth (EG) for a panel 29 African countries. In particular, the study applied theoretically consistent panel unit root procedures and panel co-integration tests that account for the presence of cross-sectional dependency among the members of a panel. To ascertain the direction of causality between HC and EG, the study applies the heterogeneous panel causality test proposed by Dumitrescu and Hurlin. This test has the ability to control for the presence of both heterogeneity and cross-sectional dependence that might be present in the panel. To determine the signs of the relationship between the two variables, the study applied the dynamic ordinary least square (OLS). The results from the heterogeneous panel causality test provide evidence in support of bidirectional causality between HC and EG for the sample countries. The results from the dynamic OLS indicate that HC and EG have significantly positiv...</span></div><div class="wp-workCard_item"><div class="carousel-container carousel-container--sm" id="profile-work-106319502-figures"><div class="prev-slide-container js-prev-button-container"><button aria-label="Previous" class="carousel-navigation-button js-profile-work-106319502-figures-prev"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">arrow_back_ios</span></button></div><div class="slides-container js-slides-container"><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/43137538/table-2-cross-sectional-dependence-test-results-to-account"><img alt="Cross-Sectional Dependence Test Results To account for the presence of cross-sectional dependencies in the panel, the study implements the Hadri and Kurozumi (2008) panel unit root tests. The resu the Hadri and suggest that exception of SPC ts from Kurozumi (2008) procedures are displayed in Table 2. The results he null hypothesis of stationarity should not be rejected, with the he results from the Z4 ~ test; for human capital. The test s atistics 0.062 (p-value =0.475) and 0.865 (p-value =0.194) respectively, for Z*/"° and 7%" are statistical the acceptance of the null hypo y insignificant in SPC he case of economic growth variable, indicating hesis of stationarity. For human capital variable, the result from the Z% ~ procedure rejects the null hypothesis while that from the Z'i test accepts the stationari dependence in the panel implies the most appropriate for the stud SPC y. y hypothesis. The presence of cross-sectional that the test statistics from the Z’; ~ procedure are TABLE 1 " class="figure-slide-image" src="https://figures.academia-assets.com/105549495/table_001.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/43137545/table-2-hadri-kurozumi-panel-unit-root-test-results-variable"><img alt="Hadri-Kurozumi Panel Unit Root Test Results variable while human capital is the dependent variable in the second model. The results from both the group (DH,) and panel (DH,) tests reject the null hypothesis of no cointegration between economic growth and human capita. The test statistics obtained from the equation with economic growth as the dependent variable are DHg = 187.725 (p-value=0.000) and DH» = 3.603 (p-value=0.000). Thesetest statistics are statistically significant at the 1 percent level of significance. Similar results are indicated for the model where human capital is the dependent variable. These results imply that there is long run relationship between economic growth and human capital. TABLE 2 " class="figure-slide-image" src="https://figures.academia-assets.com/105549495/table_002.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/43137557/table-3-indicates-rejection-of-the-null-hypothesis-of-no"><img alt="“indicates rejection of the null hypothesis of no cointegration at the 1% level of significance Durbin-Hausman Panel Cointegration Test Results TABLE 3 " class="figure-slide-image" src="https://figures.academia-assets.com/105549495/table_003.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/43137563/table-4-xe-and-indicate-significance-at-the-and-level"><img alt="xe ** and * indicate significance at the 1%, 5%, and 10% level respectively. Dumitrescu-Hurlin Panel Granger Causality Test Results TABLE 4 Journal of Innovative Education Strategies, Volume 4, Number 1, September 2015 " class="figure-slide-image" src="https://figures.academia-assets.com/105549495/table_004.jpg" /></a></figure><figure class="figure-slide-container"><a href="https://www.academia.edu/figures/43137575/table-5-panel-dynamic-ols-long-run-estimates-journal-of"><img alt="Panel Dynamic OLS Long Run Estimates TABLE 5 Journal of Innovative Education Strategies, Volume 4, Number 1, September 2015 " class="figure-slide-image" src="https://figures.academia-assets.com/105549495/table_005.jpg" /></a></figure></div><div class="next-slide-container js-next-button-container"><button aria-label="Next" class="carousel-navigation-button js-profile-work-106319502-figures-next"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">arrow_forward_ios</span></button></div></div></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="ea66d606f0a949c44e96a5960d399364" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":105549495,"asset_id":106319502,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/105549495/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="106319502"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="106319502"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 106319502; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=106319502]").text(description); $(".js-view-count[data-work-id=106319502]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 106319502; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='106319502']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "ea66d606f0a949c44e96a5960d399364" } } $('.js-work-strip[data-work-id=106319502]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":106319502,"title":"Human Capital-Economic Growth Nexus in Africa: Heterogeneous Panel Causality Approach","translated_title":"","metadata":{"abstract":"This paper examines the causal relationship between human capital (HC) and economic growth (EG) for a panel 29 African countries. In particular, the study applied theoretically consistent panel unit root procedures and panel co-integration tests that account for the presence of cross-sectional dependency among the members of a panel. To ascertain the direction of causality between HC and EG, the study applies the heterogeneous panel causality test proposed by Dumitrescu and Hurlin. This test has the ability to control for the presence of both heterogeneity and cross-sectional dependence that might be present in the panel. To determine the signs of the relationship between the two variables, the study applied the dynamic ordinary least square (OLS). The results from the heterogeneous panel causality test provide evidence in support of bidirectional causality between HC and EG for the sample countries. 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The distinguishing feature of the frequency domain method is that it enables the investigator assess quantitatively the impact of independent variables on the dependent variable at different frequencies across the spectra. The estimates of the parameter of interest from the frequency domain analysis may reveal rich policy implications. Specifically, at issue is whether implied volatility can be used to predict movements in REIT returns at different frequencies in the United States. The results from the frequency domain regression show that implied volatility and REIT returns have significantly negative effect on each other at the low-, medium-and long-term frequencies. Furthermore, the empirical findings from the frequency domain causality tests indicate that causality runs from implied volatility to all and equity REIT returns in the short-and medium-term frequencies but not vice versa. However, it is interesting to note that the results show causality running from mortgage REIT returns to implied volatility in the medium term. Taken together, the results from this study suggest that knowledge of implied volatility can help the investors to predict movements in the capital market and hence, to some extent, they can protect their portfolios against uncertainties.</span></div><div class="wp-workCard_item wp-workCard--actions"><span class="work-strip-bookmark-button-container"></span><a id="72f618c72bf7de60b1113166747b4618" class="wp-workCard--action" rel="nofollow" data-click-track="profile-work-strip-download" data-download="{"attachment_id":105549525,"asset_id":106319501,"asset_type":"Work","button_location":"profile"}" href="https://www.academia.edu/attachments/105549525/download_file?s=profile"><span><i class="fa fa-arrow-down"></i></span><span>Download</span></a><span class="wp-workCard--action visible-if-viewed-by-owner inline-block" style="display: none;"><span class="js-profile-work-strip-edit-button-wrapper profile-work-strip-edit-button-wrapper" data-work-id="106319501"><a class="js-profile-work-strip-edit-button" tabindex="0"><span><i class="fa fa-pencil"></i></span><span>Edit</span></a></span></span></div><div class="wp-workCard_item wp-workCard--stats"><span><span><span class="js-view-count view-count u-mr2x" data-work-id="106319501"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 106319501; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=106319501]").text(description); $(".js-view-count[data-work-id=106319501]").attr('title', description).tooltip(); }); });</script></span></span><span><span class="percentile-widget hidden"><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 106319501; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-work-strip[data-work-id='106319501']"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></span></div><div id="work-strip-premium-row-container"></div></div></div><script> require.config({ waitSeconds: 90 })(["https://a.academia-assets.com/assets/wow_profile-a9bf3a2bc8c89fa2a77156577594264ee8a0f214d74241bc0fcd3f69f8d107ac.js","https://a.academia-assets.com/assets/work_edit-ad038b8c047c1a8d4fa01b402d530ff93c45fee2137a149a4a5398bc8ad67560.js"], function() { // from javascript_helper.rb var dispatcherData = {} if (true){ window.WowProfile.dispatcher = window.WowProfile.dispatcher || _.clone(Backbone.Events); dispatcherData = { dispatcher: window.WowProfile.dispatcher, downloadLinkId: "72f618c72bf7de60b1113166747b4618" } } $('.js-work-strip[data-work-id=106319501]').each(function() { if (!$(this).data('initialized')) { new WowProfile.WorkStripView({ el: this, workJSON: {"id":106319501,"title":"An examination of the REIT return–implied volatility relation: a frequency domain approach","translated_title":"","metadata":{"publisher":"Springer Science and Business Media LLC","grobid_abstract":"This paper examines the relationship between implied volatility (the VIX) and REIT returns using frequency domain approach which allows shocks to vary across frequency bands. 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