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Modern Economy (ME) is an international journal dedicated to the latest advancements in all areas of international economics. The goal of this journal is to provide a platform for scientists and academicians all over the world to promote, share, and discuss various new issues and developments in different areas of mod…
Meine Pieter van Dijk
Economic growth in China has declined between 2008 and 2009. The global financial crisis of 2008/9 has shown a number of structural weaknesses in the Chinese economy, such as the functioning of its capital and labor markets and the substantial income differen…
Florence Bouvet, Sharmila King
We analyse European Central Bank (ECB) policy by estimating a forward-looking, augmented Taylor rule using expectations data. Specifically, we investigate the impact of the financial and sovereign debt crises on ECB policy. We find the European Overnight Inde…
Pietro Gottardo
We estimate the speed of adjustment of prices to value changes in the Italian stock and futures markets using variances in different return intervals. The paper presents evidence that an assumption of linearity for the relationship volatility-time is untenabl…
Mohsen Mehrara, Abdolnaser Hemati, Ali Sayehmiri
The Purpose of this paper is to investigate the relationship between annual water withdrawal (AWW) and income in some countries. To achieve this end, a smooth transition regression (STR) model on cross section data of 163 countries in 2006 was used. The findi…
Rajendra R. Vaidya
Trade credit (accounts receivable and accounts payable) is both an important source and use of funds for manufacturing firms in India. This paper empirically investigates the determinants of trade credit in the Indian context. The empirical evidence presented…
Chikashi TSUJI
This paper investigates the priced factors in the Intertemporal Capital Asset Pricing Model (ICAPM) in the Tokyo Stock Exchange (TSE) in Japan. Focusing on the time-varying covariance risks derived by the multivariate Generalized Autoregressive Conditional He…
Marc Oliver Rieger, Thuy Bui
We observe that the standard variant of Prospect Theory cannot describe very risk-averse choices in simple lotteries. This makes it difficult to accommodate it with experimental data. Using an exponential value function can solve this problem and allows to co…
Hang Sun, Wan-gui Sun
The dynamic portfolio selections in the sense of Markowitz’s mean-variance are addressed in an incomplete market and the effect of interest rate risk on them is discussed. According to Markowitz’s measure risk approach, the interest rate risk is divided into…
Teguh Dartanto
Most of studies on the poverty impact of policy reforms assumed the poverty line as a fixed line; thus, the poverty outcome of policy reforms may underestimate (overestimate) and mislead in policy guidance. This research aims at theoretically investigating th…
Qizhi Wang, Benaissa Chidmi
This paper uses the results of ordinary least squares, bivariate vector autoregressive, and error correction models to estimate the hedge ratios for cotton production across different countries and to determine whether New York Cotton Exchange futures prices…
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Modern Economy (ME) is an international journal dedicated to the latest advancements in all areas of international economics. The goal of this journal is to provide a platform for scientists and academicians all over the world to promote, share, and discuss various new issues and developments in different areas of mod… All articles are open access under a CC BY 4.0 licence, with authors retaining copyright.
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