{"title":"VAR Analysis on the Relationship between Consumer Price Index, Real Interest and Exchange Rate: The Case of Turkey","authors":"Ersin Sunbul","doi":"10.1142/s2810943022500081","DOIUrl":"https://doi.org/10.1142/s2810943022500081","url":null,"abstract":"","PeriodicalId":113147,"journal":{"name":"International Journal of Empirical Economics","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127970175","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Match Outcome Uncertainty and Sports Fan Demand: An Agnostic Review and the Standard Economic Theory of Sports Leagues","authors":"S. Johnson, Rodney Fort","doi":"10.1142/s281094302250007x","DOIUrl":"https://doi.org/10.1142/s281094302250007x","url":null,"abstract":"","PeriodicalId":113147,"journal":{"name":"International Journal of Empirical Economics","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130645410","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Cointegration Tests Using Instrumental Variables","authors":"Junsoo Lee, A. Yucel","doi":"10.1142/s2810943022500068","DOIUrl":"https://doi.org/10.1142/s2810943022500068","url":null,"abstract":"","PeriodicalId":113147,"journal":{"name":"International Journal of Empirical Economics","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132152053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Recent Advances in the Panel Stochastic Frontier Models: Heterogeneity, Endogeneity and Dependence","authors":"S. Kumbhakar, Hung-pin Lai","doi":"10.1142/s2810943022500020","DOIUrl":"https://doi.org/10.1142/s2810943022500020","url":null,"abstract":"This paper primarily reviews the panel stochastic frontier (SF) model in which the composite error term [Formula: see text] has four components, i.e. [Formula: see text] where [Formula: see text] and [Formula: see text] are the persistent and transient inefficiency components, [Formula: see text] is the random firm effect and [Formula: see text] is the random noise. We discuss a variety of model specifications of the four-component SF panel model and estimation approaches developed mostly during the period 2014 to 2021. While discussing these models, we focus on the following issues: heterogeneity, endogeneity of inputs/output(s), inclusion of determinants of inefficiencies via their variances and dependence among the error components. Additionally, we examined models that introduce allocative inefficiency. Models that use both multi-step and system approaches to model allocative inefficiency are also examined.","PeriodicalId":113147,"journal":{"name":"International Journal of Empirical Economics","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125141591","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Distinguishing between Economies of Scale and Technical Progress","authors":"Lawrence J. Lau, Jungsoo Park","doi":"10.1142/s2810943022500019","DOIUrl":"https://doi.org/10.1142/s2810943022500019","url":null,"abstract":"We show how economies of scale may be distinguished from technical progress and how both may be simultaneously identified in the empirical analysis of aggregate economic growth. Using the meta-production function framework and a cross-section of time-series macroeconomic data on inputs and outputs from a sample of developed, newly industrialised and developing economies, estimates of their individual degrees of returns to scale and rates of technical progress over different periods are obtained. It is not necessary to assume that the aggregate production functions of all economies are identical — they only need to be similar after suitable economy- and commodity-specific time-varying transformations of the quantities of the measured inputs and outputs, and these similarity assumptions can be and are explicitly tested. In addition, the individual economy-specific biases of returns to scale and technical progress, if any, are also identified. It is found that the degree of returns to scale of an individual economy depends on the size of its domestic market, represented by the size of its population, and the share of industry value-added in its GDP. It is also found that the rates of technical progress of individual East Asian economies depend on their tangible capital intensities.","PeriodicalId":113147,"journal":{"name":"International Journal of Empirical Economics","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115861936","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Social Media, Consumer Behaviour and Information Disclosure: Evidence from the MERS Outbreak in South Korea","authors":"Hailey Hayeon Joo, Hyoung-Goo Kang, Jungmin Lee","doi":"10.1142/s2810943022500032","DOIUrl":"https://doi.org/10.1142/s2810943022500032","url":null,"abstract":"South Korea’s health officials did not disclose the identities of hospitals exposed to MERS-CoV for the first three weeks of the outbreak in 2015, leading to amplified fear in the society. To ascertain the uncertainty costs due to the failure of timely information provision, we examine the effect of the information regarding MERS outbreak on shopping patterns in the retail market. We find that those facing social buzz of MERS hospitals near their home significantly reduced their spending at crowded shopping places such as big-box and department stores. However, the avoidance behaviour disappeared after the government started to disclose the accurate information. This finding suggests that the information uncertainty raised excessive anxiety among the consumers.","PeriodicalId":113147,"journal":{"name":"International Journal of Empirical Economics","volume":"60 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132130161","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Estimating Systematic and Partial Exchange Rate Exposures: The Case of Japanese Firms","authors":"Jae H. Kim, Y. Kitamura","doi":"10.1142/s2810943022500044","DOIUrl":"https://doi.org/10.1142/s2810943022500044","url":null,"abstract":"We decompose exchange rate exposure into systematic and partial parts. The former is the product of the exposure of the market portfolio and a firm’s market beta, reflecting the risk of the exchange rate to a macroeconomy. The latter is the residual one that most previous studies have examined. Using Japanese data, we find that Japanese firms are systematically exposed to the exchange rate from the beginning of 2000. We also highlight the timely yen-selling intervention by the Bank of Japan when the firms are systematically exposed. However, we find that, even when most Japanese firms are significantly exposed to the exchange rate, the partial exposure can seriously underestimate the full extent of the exchange rate exposure.","PeriodicalId":113147,"journal":{"name":"International Journal of Empirical Economics","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115243216","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}