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- 저자 : Vicente Pallardó-Lopez (검색결과 2 건)
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George Varghese,Vicente Pallardó-Lopez 한양대학교 경제연구소 2020 JOURNAL OF ECONOMIC RESEARCH Vol.25 No.1
The present study attempts to meaningfully add to the existing strand of literature on coal market predictability by examining the level of market integration across three major coal export markets. Using a tri-variate diagonal BEKK GARCH framework, the study investigates the own-volatility persistence and cross-volatility contagion effects among European, Australian, and South African coal markets. The results validate the presence of strong volatility contagion among the three markets, indicating a high level of market integration. The contagion effect is observed to be heterogeneous across market pairs. Further, while the study finds convincing evidence for volatility clustering, the EGARCH results fail to affirm the presence of leverage effect among the returns series. In short, the study unveiled complex dynamics in the coal markets’ price generation mechanism that necessitates active portfolio management. As such, besides having significant policy implications, the study’s findings would be of pertinent interest to financial practitioners and investors who seek to diversify their portfolio through investments in global commodity markets.
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Andres Artal-Tur,Vicente Pallardó-Lopez,Mona Said 한양대학교 경제연구소 2020 JOURNAL OF ECONOMIC RESEARCH Vol.25 No.1
The arrival of immigrants can help to improve the economy of host countries, for example, by creating new trade flows. In this paper, we introduce new features in the analysis of the migration-trade nexus that modulate traditional results in the literature. First, we test if historical migration corridors between countries influence the size of related trade effects. Second, we investigate the role of migrants´ profile in this process, including their level of education, language proficiency, and professional background. Third, we analyse how social integration of immigrants shape results of the model, according to their length of stay at receiving countries, their age at arrival, and their acquisition of citizenship. The research employs gravity equations with panel data, using France as an illustrative case study. Results help to provide several policy recommendations.
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