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Title: Causality between stock prices and exchange rates: A case of the United States.
Creator: Ozair, Amber., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: This thesis investigates the direction of causality as well as short-run dynamics and long-run equilibrium relationship between stock prices and exchange rates using quarterly data for the period 1960:1--2004:4. The studies apply techniques of the unit root, cointegration and Standard Granger causality tests to examine the relationship between these two financial variables. The empirical results reveal that there is no causal linkage and no cointegration between the stock prices and exchange...
Show moreThis thesis investigates the direction of causality as well as short-run dynamics and long-run equilibrium relationship between stock prices and exchange rates using quarterly data for the period 1960:1--2004:4. The studies apply techniques of the unit root, cointegration and Standard Granger causality tests to examine the relationship between these two financial variables. The empirical results reveal that there is no causal linkage and no cointegration between the stock prices and exchange rates as suggested under Traditional and Portfolio approaches. The results support the view that the semi-strong form of EMH holds true for the U.S. financial markets.
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Date Issued: 2006
PURL: http://purl.flvc.org/fcla/dt/13393
Subject Headings: Econometric models, Business forecasting--Mathematical models, Efficient market theory, Stock exchanges--Mathematical models
Format: Document (PDF)

Title: Human capital and endogenous growth.
Creator: Stewart, John Richard., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: Using both exogenous and endogenous theory, this paper develops a synthesized model treating human capital as an endogenous contributor to long run economic growth. Human capital is assumed to be the basis of such growth, therefore, the focus is not on technological change per se. Through empirical analysis, human capital is measured by knowledge, and that the accumulation of knowledge, or specialization, is determined through an incentive system. The incentive system, in turn, is determined...
Show moreUsing both exogenous and endogenous theory, this paper develops a synthesized model treating human capital as an endogenous contributor to long run economic growth. Human capital is assumed to be the basis of such growth, therefore, the focus is not on technological change per se. Through empirical analysis, human capital is measured by knowledge, and that the accumulation of knowledge, or specialization, is determined through an incentive system. The incentive system, in turn, is determined by the difference in wages paid to certain types of knowledge, those being a general level and a specialized level of knowledge. It is assumed that the learning process can take place at any time, therefore, the specialization process is not limited to an academic environment. A spillover effect associated with specialized knowledge provides for increasing returns to scale in the model, which is also supported by empirical data.
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Date Issued: 1999
PURL: http://purl.flvc.org/fcla/dt/15659
Subject Headings: Human capital, Economic development
Format: Document (PDF)

Title: Offshoring and wage convergence.
Creator: Brigida, Matthew David., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: The recent advances in communication technology are changing the structure of the labor market in the United States. Jobs, which previously had to be done in the United States, can now be done offshore and thus American companies can take advantage of the wage differentials between countries. To see the potential effects that such a structural change may have on economic growth, we first examine the 19th century convergence between Europe and the New World countries. Thereafter we introduce a...
Show moreThe recent advances in communication technology are changing the structure of the labor market in the United States. Jobs, which previously had to be done in the United States, can now be done offshore and thus American companies can take advantage of the wage differentials between countries. To see the potential effects that such a structural change may have on economic growth, we first examine the 19th century convergence between Europe and the New World countries. Thereafter we introduce a model of economic growth that will take into account a particular aspect of present day offshoring. Many of the workers being brought into the United States labor market are highly skilled. After this, we introduce Skill-Biased Technological Change and look at how it may be affected by offshoring.
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Date Issued: 2004
PURL: http://purl.flvc.org/fcla/dt/13125
Subject Headings: Convergence--19th century, Wages--Effect of technological innovations on, Human capital--Econometric models, Labor supply--Effect of technological innovations on
Format: Document (PDF)

Title: Private Capital Flows and Economic Development: A Cross-Sectional Analysis of Asian and Latin American Countries.
Creator: Salome, Helena Johanna, Yuhn, Ky-hyang, Florida Atlantic University
Abstract/Description: After the 1980s debt crisis had officially come to an end, most developing nations in Asia and Latin America successfully reentered the global capital market. Private capital flows into these regions surged to unprecedented heights. Present paper gives an overview of what gave rise to this sudden come-back of external finance to the developing world, why its composition and geographical dispersion had changed, and how it affected the macroeconomic environment of the recipient nation....
Show moreAfter the 1980s debt crisis had officially come to an end, most developing nations in Asia and Latin America successfully reentered the global capital market. Private capital flows into these regions surged to unprecedented heights. Present paper gives an overview of what gave rise to this sudden come-back of external finance to the developing world, why its composition and geographical dispersion had changed, and how it affected the macroeconomic environment of the recipient nation. Furthermore, a cross-section econometric analysis is applied to thirty-four countries for the early 1990s, to determine the effect of private inflows on the growth rate of real GDP, as a proxy for economic development, in the context of a standard neoclassical growth equation framework. Results confirm the favorable impact of portfolio investment, but foreign direct investment appears to hinder economic growth. An attempt is made to interpret these results and compare them with existing empirical research.
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Date Issued: 1997
PURL: http://purl.flvc.org/fau/fd/FA00000310
Subject Headings: Capital movements--Latin America, Capital movements--Asia, Latin America--Economic conditions--1982-, Asia--Economic conditions--1945-, Saving and investment--Latin America, Saving and investment--Asia
Format: Document (PDF)

Title: Tax revenues and public investment: Unidirectional or bi-directional causality? Some empirical evidence.
Creator: Karkalakos, Sotiris G., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: This thesis examines the direction of causality between tax revenues and public investment, using data from the Greek economy. This study applies the methodologies of OLS regression analysis and tests of cointegration to examine the relationship between tax revenues and public investment. In addition, a Vector Autoregressive Model (VAR model) is included in this paper. The empirical results reveal unidirectional causality from tax revenues to public investment which suggests that tax and...
Show moreThis thesis examines the direction of causality between tax revenues and public investment, using data from the Greek economy. This study applies the methodologies of OLS regression analysis and tests of cointegration to examine the relationship between tax revenues and public investment. In addition, a Vector Autoregressive Model (VAR model) is included in this paper. The empirical results reveal unidirectional causality from tax revenues to public investment which suggests that tax and spending decisions are not made jointly by the Greek fiscal authorities.
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Date Issued: 1999
PURL: http://purl.flvc.org/fcla/dt/15630
Subject Headings: Taxation--Greece, Public investments--Greece, Cointegration, Autoregression (Statistics)
Format: Document (PDF)

Title: An empirical investigation of uncovered interest parity between the United States and Japan: Cointegration and causality tests.
Creator: Enyart, Russell Roy., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: This study investigates the existence of Uncovered Interest Parity (UIP) between the United States and Japan. The study is conducted over a 58-month period beginning in January 1994 and continuing through October 1998. This study used unit root, cointegration, and causality tests to examine whether the exchange rates and interest rates of the two countries lent support to the UIP hypothesis. All data sets were found to contain a unit root. Further, there was no evidence for cointegration...
Show moreThis study investigates the existence of Uncovered Interest Parity (UIP) between the United States and Japan. The study is conducted over a 58-month period beginning in January 1994 and continuing through October 1998. This study used unit root, cointegration, and causality tests to examine whether the exchange rates and interest rates of the two countries lent support to the UIP hypothesis. All data sets were found to contain a unit root. Further, there was no evidence for cointegration between the exchange rate and any of the explanatory variables (US interest rates, Japanese interest rates, and the interest rate differential). However, Granger-causality was discovered between the interest rate differential and the exchange rate. Thus, it can be said there is a causal relationship between the interest rate differential and the exchange rate. Lastly, this study gives some validity to the UIP hypothesis.
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Date Issued: 1999
PURL: http://purl.flvc.org/fcla/dt/15648
Subject Headings: Interest rates--United States, Foreign exchange rates--United States, Interest rates--Japan, Foreign exchange rates--Japan
Format: Document (PDF)

Title: An empirical analysis of the convergence hypothesis across countries: New evidence.
Creator: Butzin, Blake Donald., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: The Solow growth model examines the effects of saving, population and technological advances on the growth of an economy. Long-run economic growth is explained by the exogenous variable, technology. In this model lower income countries will experience higher rates of economic growth, which will lead to convergence in the standards of living between low-income and high-income countries. Additional theories including the augmented Solow model, which tests for conditional convergence and...
Show moreThe Solow growth model examines the effects of saving, population and technological advances on the growth of an economy. Long-run economic growth is explained by the exogenous variable, technology. In this model lower income countries will experience higher rates of economic growth, which will lead to convergence in the standards of living between low-income and high-income countries. Additional theories including the augmented Solow model, which tests for conditional convergence and endogenous growth theories have been developed recently. An empirical inquiry of the convergence hypothesis has been conducted using a variety samples based on income classifications and geographical locations.
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Date Issued: 1997
PURL: http://purl.flvc.org/fcla/dt/15485
Subject Headings: Economic development--Mathematical models
Format: Document (PDF)

Title: The impact of devaluation on the standard of living of a developing country: Tunisia.
Creator: Douihech, Tarek H., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: There are conflicting theories on the effects of devaluation on economy. This thesis sets out to investigate the impact of devaluation on the standard of living of developing countries, specifically Tunisia. The results obtained from the regressions contradicted the contractionary view of devaluation. It concluded that with proper structural reforms, devaluation improves the growth rate and therefore, the standard of living of a country. Surprisingly, this negative sign of government...
Show moreThere are conflicting theories on the effects of devaluation on economy. This thesis sets out to investigate the impact of devaluation on the standard of living of developing countries, specifically Tunisia. The results obtained from the regressions contradicted the contractionary view of devaluation. It concluded that with proper structural reforms, devaluation improves the growth rate and therefore, the standard of living of a country. Surprisingly, this negative sign of government expenditure elasticity opened up the question for further research on the impact of the role and size of a government on the growth rate.
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Date Issued: 1997
PURL: http://purl.flvc.org/fcla/dt/15460
Subject Headings: Devaluation of currency--Tunisia, Devaluation of currency--Developing countries--Tunisia, Tunisia--Economic policy, Currency question--Tunisia
Format: Document (PDF)

Title: A cointegration test of purchasing power parity: Some international evidence.
Creator: Nitsi, Elisavet I., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: This study investigates the existence of long run Purchasing Power Parity (PPP) for the G7 countries (the United States, Canada, Germany, United Kingdom, France, Italy and Japan). Using the unit root test as well as cointegration techniques we have tested the PPP doctrine. The empirical results indicate that both effective exchange rate and consumer price index time series are nonstationary. Furthermore, the relationship between the effective exchange rate and the price level is shown to be...
Show moreThis study investigates the existence of long run Purchasing Power Parity (PPP) for the G7 countries (the United States, Canada, Germany, United Kingdom, France, Italy and Japan). Using the unit root test as well as cointegration techniques we have tested the PPP doctrine. The empirical results indicate that both effective exchange rate and consumer price index time series are nonstationary. Furthermore, the relationship between the effective exchange rate and the price level is shown to be in long run equilibrium in the United States, Canada, Japan and Italy but no evidence for PPP can be found for Germany, the United Kingdom and France. Thus, it can be claimed that the United States, Canada and Japan's markets allow the exchange rate to fluctuate freely as opposed to the European markets, since European economies are prone to disturbances (real shocks) that lead to permanent deviations from the PPP.
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Date Issued: 1997
PURL: http://purl.flvc.org/fcla/dt/15510
Subject Headings: Cointegration, Purchasing power parity, Group of Seven countries
Format: Document (PDF)

Title: A test of market efficiency using ARCH models.
Creator: Tan, Feifei., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: The purpose of this thesis is to examine the efficient market hypothesis (EMH) employing an ARCH model proposed by Engle (1982). The relations of the US stock market and other five major stock markets, i.e., the Canadian, French, German, Japanese, and UK markets are investigated. The time series used in this study are monthly stock price and dividend indices for the above six stock markets. The data cover the period from January 1970 to March 1991. In this study I utilize the ARCH model which...
Show moreThe purpose of this thesis is to examine the efficient market hypothesis (EMH) employing an ARCH model proposed by Engle (1982). The relations of the US stock market and other five major stock markets, i.e., the Canadian, French, German, Japanese, and UK markets are investigated. The time series used in this study are monthly stock price and dividend indices for the above six stock markets. The data cover the period from January 1970 to March 1991. In this study I utilize the ARCH model which appears to be very powerful in modeling conditional heteroscedasticity of stock prices. My test results provide unambiguous evidence of significant ARCH effects existing between the six national stock markets. Therefore, this study demonstrates the existence of market inefficiency for these national markets.
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Date Issued: 1996
PURL: http://purl.flvc.org/fcla/dt/15349
Subject Headings: Futures Market, Stock Exchanges--Econometric Models
Format: Document (PDF)

Title: Stock prices and consumption: A new variable in the consumption function?.
Creator: Kinney, Timothy P., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: This thesis examines the significance of the real interest rate and stock prices as explanatory variables in the aggregate consumption function. This study applies the methodologies of OLS regression analysis and tests of cointegration to examine the relationship between stock prices and consumption. The empirical results suggest that stock prices are a significant factor in the modified aggregate consumption function. Consumers, perceiving stock prices to be an indicator of their wealth, are...
Show moreThis thesis examines the significance of the real interest rate and stock prices as explanatory variables in the aggregate consumption function. This study applies the methodologies of OLS regression analysis and tests of cointegration to examine the relationship between stock prices and consumption. The empirical results suggest that stock prices are a significant factor in the modified aggregate consumption function. Consumers, perceiving stock prices to be an indicator of their wealth, are making more expenditures on durable goods as they perceive increases in stock values to be permanent. Finally, the results of the tests for cointegration suggest that there is no long-run equilibrium relationship between stock prices and consumption.
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Date Issued: 1997
PURL: http://purl.flvc.org/fcla/dt/15504
Subject Headings: Consumption (Economics), Stocks--Prices
Format: Document (PDF)

Title: Stock Market Efficiency An International Comparison.
Creator: Kirk, Michael C., Yuhn, Ky-hyang, Florida Atlantic University
Abstract/Description: Major financial newspapers and financial news programs in the United States, such as the Wall Street Journal and the Financial News Network, often mention macroeconomic data in attempting to predict a potential adjustment in the level of stock market prices. The presentation ofthis data is particularly prevalent when the level of stock market prices is in record territory. However, many believe that there exists no relationship, correlation or causal relationship between the level of stock...
Show moreMajor financial newspapers and financial news programs in the United States, such as the Wall Street Journal and the Financial News Network, often mention macroeconomic data in attempting to predict a potential adjustment in the level of stock market prices. The presentation ofthis data is particularly prevalent when the level of stock market prices is in record territory. However, many believe that there exists no relationship, correlation or causal relationship between the level of stock market prices and macroeconomic indicators, especially in technologically advanced nations. The purpose ofthis paper is to test the efficiency of three international stock markets. If a stock market is efficient, all current information is instantaneously reflected in its price level. Since stock prices in an efficient market reflect all of the available information instantaneously, investors cannot profit by analyzing macroeconomic indicators. Thus, the implication is that there are no immediate profit-making opportunities in efficient markets and there are profit-making opportunities in less efficient markets. If the stock market ofthe United States is proven to be efficient, then the news media is incorrect in its presentation of macroeconomic data in order to predict an adjustment in the stock market.
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Date Issued: 1997
PURL: http://purl.flvc.org/fau/fd/FA00000308
Subject Headings: Stocks--Prices, Efficient market theory, International finance
Format: Document (PDF)

Title: Stock prices and the money supply: Testing for informational efficiency.
Creator: Hernandez, Ulises Angel., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: For a stock market to allocate funds efficiently, stock prices should immediately incorporate all of the information available. If we find that there is a lag between changes in variables that might affect the price of stocks, and the reflection of that change in its price, the market for stocks will be inefficient. This thesis tests the stock markets in six of the largest developed economies for informational efficiency. It tests the stock markets in Canada, France, Germany, Japan, The...
Show moreFor a stock market to allocate funds efficiently, stock prices should immediately incorporate all of the information available. If we find that there is a lag between changes in variables that might affect the price of stocks, and the reflection of that change in its price, the market for stocks will be inefficient. This thesis tests the stock markets in six of the largest developed economies for informational efficiency. It tests the stock markets in Canada, France, Germany, Japan, The United Kingdom, and The United States, for the existence of a causal relationship between changes in the money supply and changes in stock prices, and applies the Granger-causality test to perform it. A stock market is informationally inefficient if a causal relationship between changes in the money supply and changes in stock prices is found. In this case, money supply changes could be used to predict movements in the prices of stocks, create profitable trading rules, and help us earn above-normal returns, thus casting doubts on the ability of the stock market to allocate funds efficiently.
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Date Issued: 1999
PURL: http://purl.flvc.org/fcla/dt/15627
Subject Headings: Stocks--Prices, Money supply, Stock exchanges
Format: Document (PDF)

Title: Time-Sharing and the Mind of Man: a Management View.
Creator: Collison, William Fraser, Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: The purpose of this study is determine what factors could influence an economic agents' decision to travel or vacation in Florida. This study measures this decision by analyzing the state Division of Tourism estimates for visitors in light of changes in; national gross domestic product, non-aviation gasoline prices, average airfares, and exchange rates. This data was compiled on a quarterly basis form 1980 to 1993 and analyzed by employing Translog and Cobb-Douglas demand functional forms for...
Show moreThe purpose of this study is determine what factors could influence an economic agents' decision to travel or vacation in Florida. This study measures this decision by analyzing the state Division of Tourism estimates for visitors in light of changes in; national gross domestic product, non-aviation gasoline prices, average airfares, and exchange rates. This data was compiled on a quarterly basis form 1980 to 1993 and analyzed by employing Translog and Cobb-Douglas demand functional forms for use in regression analysis. Based upon the regression results, the Cobb-Douglas functional form best represents what has historically occurred in the real economic world and follows generally accepted micro-economic demand theory. The Cobb-Douglas techniques reveal that an economic agents' future income expectations, measured by GOP levels, has a significant influence on Florida visitor estimates and has a role in the decision to vacation in Florida.
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Date Issued: 1971
PURL: http://purl.flvc.org/fcla/dt/13438
Subject Headings: Time-sharing computer systems
Format: Document (PDF)

Title: Smoking or not smoking? A logit model analysis.
Creator: Clarke, Mark Wayne., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: Since the beginning of President Clinton's administration, the cigarette industry has been under a lot of pressure to change the way they do business, how they advertise. This study was not intended to be for or against the issue of smoking but to see which variable affects smoking after the consumer makes the adult decision to smoke. Three different econometric analyses were used to come up with these results; Logit, OLS and Linear Probability Model. The findings indicate that variables like...
Show moreSince the beginning of President Clinton's administration, the cigarette industry has been under a lot of pressure to change the way they do business, how they advertise. This study was not intended to be for or against the issue of smoking but to see which variable affects smoking after the consumer makes the adult decision to smoke. Three different econometric analyses were used to come up with these results; Logit, OLS and Linear Probability Model. The findings indicate that variables like income, pack per week smoked, age, years smoking and gender are significant in determining if an adult consumer continues to smoke. In addition, age, race, and years smoking are good indicators of whether a smoker is or is not price conscious. Years smoking, age, and education of a smoker's mother also have an effect on how much cigarettes an adult smoker consumes.
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Date Issued: 1999
PURL: http://purl.flvc.org/fcla/dt/15623
Subject Headings: Smoking, Cigarette smoke
Format: Document (PDF)

Title: Translog and Cobb-Douglas analysis of tourist demand in Florida.
Creator: Collins, Donald Lawrence., Florida Atlantic University, Yuhn, Ky-hyang
Abstract/Description: The purpose of this study is to determine what factors could influence an economic agents' decision to travel or vacation in Florida. This study measures this decision by analyzing the state Division of Tourism estimates for visitors in light of changes in; national gross domestic product, non-aviation gasoline prices, average airfares, and exchange rates. This data was compiled on a quarterly basis form 1980 to 1993 and analyzed by employing Translog and Cobb-Douglas demand functional forms...
Show moreThe purpose of this study is to determine what factors could influence an economic agents' decision to travel or vacation in Florida. This study measures this decision by analyzing the state Division of Tourism estimates for visitors in light of changes in; national gross domestic product, non-aviation gasoline prices, average airfares, and exchange rates. This data was compiled on a quarterly basis form 1980 to 1993 and analyzed by employing Translog and Cobb-Douglas demand functional forms for use in regression analysis. Based upon the regression results, the Cobb-Douglas functional form best represents what has historically occurred in the real economic world and follows generally accepted micro-economic demand theory. The Cobb-Douglas techniques reveal that an economic agents' future income expectations, measured by GDP levels, has a significant influence on Florida visitor estimates and has a role in the decision to vacation in Florida.
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Date Issued: 1996
PURL: http://purl.flvc.org/fcla/dt/15356
Subject Headings: Tourism--Florida, Economics, Mathematical, Prices, Regression analysis
Format: Document (PDF)

Title: Entropic Considerations of Efficiency in the West Texas Intermediate Crude Oil Futures Market.
Creator: Sagul, Ryan, Yuhn, Ky-hyang, Florida Atlantic University, College of Business, Department of Economics
Abstract/Description: For the last fifty years, the efficient market hypothesis has been the central pillar of economic thought and touted by all, despite Sanford Grossman’ and Nobel prize winner Joseph Stiglitz’ objection in 1980. Andrew Lo updated the efficient market hypothesis in 2004 to reconcile irrational human behavior and cold, calculating automatons. This thesis utilizes 33 years of oil futures, GARCH regressions, and the Jensen-Shannon informational criteria to provide extensive empirical objections to...
Show moreFor the last fifty years, the efficient market hypothesis has been the central pillar of economic thought and touted by all, despite Sanford Grossman’ and Nobel prize winner Joseph Stiglitz’ objection in 1980. Andrew Lo updated the efficient market hypothesis in 2004 to reconcile irrational human behavior and cold, calculating automatons. This thesis utilizes 33 years of oil futures, GARCH regressions, and the Jensen-Shannon informational criteria to provide extensive empirical objections to informational efficiency. The results demonstrate continuously inefficient oil future markets which exhibit decreased informational efficiency during recessionary periods, advocating the adaptive market hypothesis over the efficient market hypothesis.
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Date Issued: 2016
PURL: http://purl.flvc.org/fau/fd/FA00004730, http://purl.flvc.org/fau/fd/FA00004730
Subject Headings: Capital market -- Psychological aspects, Energy industries -- Risk management, Financial risk management -- Mathematical models, Futures, Investment analysis, Petroleum industry and trade -- Economic aspects, Stocks -- Mathematical models
Format: Document (PDF)

Title: IS THE PHILLIPS CURVE A UNICORN?.
Creator: Lee, Sanghyun Paul, Yuhn, Ky-Hyang, Florida Atlantic University, Department of Economics, College of Business
Abstract/Description: The new Keynesian wage Phillips curve (NKWPC) is derived from the standard new Keynesian Phillips curve (NKPC) that is examined and verified by many economists. The NKWPC model uses the structural wage equation to present the significant inverse relationship between wage inflation and the unemployment rate in the US economy with the significant assumption of a constant natural rate of unemployment. This study examines the NKWPC model using the generalized method of moments (GMM) and...
Show moreThe new Keynesian wage Phillips curve (NKWPC) is derived from the standard new Keynesian Phillips curve (NKPC) that is examined and verified by many economists. The NKWPC model uses the structural wage equation to present the significant inverse relationship between wage inflation and the unemployment rate in the US economy with the significant assumption of a constant natural rate of unemployment. This study examines the NKWPC model using the generalized method of moments (GMM) and generalized autoregressive conditionally heteroskedastic-M (GARCH-M) to confirm the critical inverse relationship of the Phillips curve. In particular, this study tests the NKWPC separately targeting the official unemployment rate from Komlos (2019)’s real unemployment rate. The estimated results of this study support the NKWPC re-confirming a significant negative relationship between wage inflation and unemployment, using two different econometric techniques of GMM and GARCH-M. Moreover, it is apparent that they do not distinguish the official unemployment rate from the real unemployment rate. The Phillips curve is not just a unicorn, or rarity, in the economic world. It is a substantial indicator and still holds merit. This study yields to another lending support to the importance of the Phillips curve.
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Date Issued: 2021
PURL: http://purl.flvc.org/fau/fd/FA00013772
Subject Headings: Phillips curve, Labor market
Format: Document (PDF)

Title: American lookback options: Early exercise.
Creator: Abramov, Viatcheslav Alexander., Florida Atlantic University, Yuhn, Ky-hyang, College of Business, Department of Economics
Abstract/Description: Lookback options are path dependent contingent claims whose payoff depend on the extrema of a given security's price over a given period. Some of these options are already traded on specialized markets (such as foreign exchange) and mostly in over-the-counter market alongside with other path dependent options (knock-ins, knock-outs, etc.). This thesis examines the existing pricing models of conventional options as well as standard European lookback options and provides some results about...
Show moreLookback options are path dependent contingent claims whose payoff depend on the extrema of a given security's price over a given period. Some of these options are already traded on specialized markets (such as foreign exchange) and mostly in over-the-counter market alongside with other path dependent options (knock-ins, knock-outs, etc.). This thesis examines the existing pricing models of conventional options as well as standard European lookback options and provides some results about early exercise of their American counterparts with the use of notions from the theory of optimal stopping.
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Date Issued: 1995
PURL: http://purl.flvc.org/fcla/dt/15177
Subject Headings: Options (Finance), Derivative securities
Format: Document (PDF)

Title: Interest rates and inflation: An analysis of monetary policy.
Creator: Steele, Sandra C., Florida Atlantic University, Yuhn, Ky-hyang, College of Business, Department of Economics
Abstract/Description: The main contribution of this thesis is the determination of how long it takes for an adjustment in the short-term interest rate to effect inflation. In order to ascertain this, a good amount of economic theory is covered, including a rudimentary explanation of inflation and interest rates, a brief history of monetary policy in the United States, an analysis of the relationship between long- and short-term interest rates, the importance of credibility and inertia, and a detailed review of...
Show moreThe main contribution of this thesis is the determination of how long it takes for an adjustment in the short-term interest rate to effect inflation. In order to ascertain this, a good amount of economic theory is covered, including a rudimentary explanation of inflation and interest rates, a brief history of monetary policy in the United States, an analysis of the relationship between long- and short-term interest rates, the importance of credibility and inertia, and a detailed review of interest rate policy since 1979. This, in conjunction with empirical analysis, does in fact offer an answer to this question.
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Date Issued: 1995
PURL: http://purl.flvc.org/fcla/dt/15181
Subject Headings: Inflation (Finance), Interest rates--United States--Effect of inflation on, Monetary policy--United States, Interest rates--Government policy--United States
Format: Document (PDF)

Stocks--Prices (3)	+ -
Cointegration (2)	+ -
Efficient market theory (2)	+ -
International finance (2)	+ -
Stock exchanges (2)	+ -

Asia--Economic conditions--1945- (1)	+ -
Autoregression (Statistics) (1)	+ -
Business forecasting--Mathematical models (1)	+ -
Capital market -- Psychological aspects (1)	+ -
Capital movements--Asia (1)	+ -
Capital movements--Latin America (1)	+ -
Cigarette smoke (1)	+ -
Consumption (Economics) (1)	+ -
Convergence--19th century (1)	+ -
Currency question--Tunisia (1)	+ -
Derivative securities (1)	+ -
Devaluation of currency--Developing countries--Tunisia (1)	+ -
Devaluation of currency--Tunisia (1)	+ -
Econometric models (1)	+ -
Economic development (1)	+ -
Economic development--Mathematical models (1)	+ -
Economic development--United States (1)	+ -
Economics, Mathematical (1)	+ -
Energy industries -- Risk management (1)	+ -
Financial institutions, International (1)	+ -
Financial risk management -- Mathematical models (1)	+ -
Foreign exchange rates--Japan (1)	+ -
Foreign exchange rates--United States (1)	+ -
Futures (1)	+ -
Futures Market (1)	+ -

Florida Atlantic University (22)	+ -
Yuhn, Ky-hyang (20)	+ -
College of Business (6)	+ -
Department of Economics (6)	+ -
Yuhn, Ky-Hyang (2)	+ -

Abramov, Viatcheslav Alexander. (1)	+ -
Brigida, Matthew David. (1)	+ -
Butzin, Blake Donald. (1)	+ -
Clarke, Mark Wayne. (1)	+ -
Collins, Donald Lawrence. (1)	+ -
Collison, William Fraser (1)	+ -
Croce, Robert William. (1)	+ -
Douihech, Tarek H. (1)	+ -
Enyart, Russell Roy. (1)	+ -
Hernandez, Ulises Angel. (1)	+ -
Karkalakos, Sotiris G. (1)	+ -
Kinney, Timothy P. (1)	+ -
Kirk, Michael C. (1)	+ -
Lee, Chaewoong (1)	+ -
Lee, Sanghyun Paul (1)	+ -
Nitsi, Elisavet I. (1)	+ -
Ozair, Amber. (1)	+ -
Sagul, Ryan (1)	+ -
Salome, Helena Johanna (1)	+ -
Steele, Sandra C. (1)	+ -
Stewart, John Richard. (1)	+ -
Tan, Feifei. (1)	+ -

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