This study examined the relationship between stock market index and selected macroeconomic variables during the post-financial liberalization (pre-financial crisis) and post-financial crisis in Thailand. In the empirical analysis, unit root, cointegration and Granger causality tests were performed. The post-financial liberalization results showed that the stock market index, the industrial production index, money supply, exchange rate, and world oil prices contained a unit root and were integrated of order one. Johansen cointegration test was then employed. The results showed at least one cointegrating or long-run relation between the stock market index and a set of macroeconomic variables. Money supply had a positive impact on the stock market index while the industrial production inde...
At the request of the Office of the Federal Register, we are reinstating the finding aid ``Index to Chapter III'' in Title 20 of the Code of Federal Regulations (CFR). The finding aid contains a list of all Acquiescence Rulings published in the Federal Register from January 11, 1990 through April 1, 2012.
According to the estimates from the additive Törnqvist price index formula, Taiwan consumers' true cost of living grew by 29.93% with an average yearly growth rate of 1.76% during the 1991-2006 period. Nearly 85% of the total growth of cost of living derived mainly from seven commodity groups. In particular, supplementary food had made the largest contribution to the growth of cost of living over the period was because its price had increased by as high as 53.42%, and Taiwan consumers had spent around one-tenth of their total income on it. Compared with the estimates from Törnqvist price index, the Laspeyres price index had overestimated the growth of Taiwan consumers' cost of living in yearly average by 0.1 percentage points (ppts) over the sample period; the resulting substitution bia...
Measurement studies show that the burstiness of packet traffic in LAN as well as WAN is associated with self-similar and long-range dependency. The Hurst index is the key value of this model. With the analysis in discrete wavelet domain, the nature of the wavelet coefficients and their statistical properties are proposed. Then an adaptive, efficient unbiased estimator of Hurst index based on multiresolution wavelet analysis and weighted regression, is presented. Simulation results based on fractal Gaussian noise and real traffic data reveal the proposed approach shows more adaptiveness, accuracy, and robustness than traditional estimators, which have only O(N) computation. Thus this estimator can be applied to traffic management and real-time control in high-speed networks.
This paper examines the dynamic behavior of the National Council of Real Estate Investment Fiduciaries (NCREIF) index. NCREIF total return and appreciation indexes are smooth and exhibit strong autocorrelation and autoregressive heteroscedasticity. We test the information transmission from the NAREIT index to the NCREIF index. In our VAR analysis, the NAREIT index returns Granger cause the returns of the NCREIF indexes. In our ARCH information transmission analysis, the NCREIF indexes are observed to incorporate information spillover from the NAREIT indexes in both the mean and variance of the index returns. The ARCH dynamics between the NCREIF and NAREIT indexes suggest a nonlinear relation between the two indexes.
'Dispirited' Consumers Facing Difficulties with Jobs, Weak Finances YONKERS, N.Y., Aug. 9, 2011 /PRNewswire-USNewswire/ -- August's Consumer Reports Index, a measure of overall consumer sentiment, fell to its lowest level since December 2009 and registered its sharpest drop in two years, as recent events in Washington about the debt ceiling debate fixed attention on the weak economy.
Employment in positive territory for all income groups for first time since 2009 YONKERS, N.Y., Nov. 7, 2011 /PRNewswire-USNewswire/ -- November's Consumer Reports Index, a measure of overall consumer financial health, showed that as the holiday season approaches, there are some positive signs for the economy, though difficulties temper the outlook. Employment continued to show improvement, with job gains outpacing losses by a slight margin. The most potent risk on the horizon is declining sentiment, which fell to 45.0 from a recent high of 48.8 in September.
During the twelve year period from 1992 through 2003, little overall change occurred in international business activity within a representative group of approximately 100 large, US domestic and multinational firms. This research examines recent, more appropriate data from 1998 through 2004 for a second group of firms, the lower 400 of the S[approximate]P 500, to determine if the earlier published findings are true for the slightly smaller and less prominent firms. The measures of the size (ie, allocation) of a US multinational firm's foreign operations are derived from the proportion(s) of international sales revenue (in US dollars) to the total revenue (both domestic and foreign) of the firm. The raw data for this study is from COMPUSTAT. The international revenue index (IRI) of this s...
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