Journal of Economics and Finance

Publishes theoretical and empirical articles in the general areas of economics and finance. 

Articles from Vol. 32, No. 2, April

A Macroeconomic Analysis of Foreign Assets and Foreign Liabilities
AbstractAlthough an increase in foreign assets and a decrease in foreign liabilities both increase a nation's net foreign assets (NFA), they have alternative macroeconomic transmission mechanisms: while an increase in foreign assets is expansionary,...
Incorporating Correlation Regimes in an Integrated Stressed Risk Modeling Process
AbstractThe practice of using stress tests to complement Value at Risk (VaR) estimates suffers from some limitations such as the lack of coherence between a statistical risk measure and a subjective one. On the other hand there is a wide consensus that...
Interest Rate and Bank Stock Returns Asymmetry: Evidence from U.S. Banks
AbstractWe use the multivariate extension of Exponential Generalized Autoregressive Conditionally Heteroscedastic (EGARCH) of Nelson, Econometrica, 59: 347-370, 1991 to test for spillover effects and examine the extent of asymmetries between short- and...
Potential Targets: An Analysis of Stock Price Reactions to Acquisition Program Announcements
AbstractStockholders of potential targets experience a statistically significant wealth gain of 0.59% over the 3-day window surrounding the acquisition program announcement. Potential targets are defined as those firms that subsequently receive bids....
Smoking Prevalence in the United States: Differences across Socioeconomic Groups
AbstractThis paper uses recent US state-level data to examine smoking behavior across four population groups divided by age, literacy, income and ethnicity. Another contribution lies in the consideration of various smoking control policies and the full...
The Determinants and Survival of Reverse Mergers vs IPOs
AbstractThis study examines the motivation for using a reverse merger (RM) rather than an IPO to take a private firm public and analyzes the survival of RMs and IPOs in the aftermarket. Private firms using the RM technique are smaller, younger, and have...