It is widely accepted that, for some industries, competition across countries is" economically important and that this competition is strongly affected by exchange rate changes." This paper explores the validity of this view using weekly stock return data on 320 industry pairs" in six countries from 1975 to 1997. It is found that common shocks to industries across countries" are more important than competitive shocks. Weekly exchange rate shocks explain almost" nothing of the relative performance of industries. Using returns measured over longer horizons the importance of exchange rate shocks increases slightly and the importance of common shocks" to industries increases more substantially. Both industry and exchange rate shocks are more" important for industries that produce goods traded internationally, but the importance of these" shocks is economically small for these industries as well.

International Competition and Exchange Rate Shocks: A Cross-Country Industry Analysis of Stock Returns

COVID-19 lockdowns, stimulus packages, travel bans, and stock returns.

Tests the Dixit and Londregan model on Swedish data for the years 1981-1995. Studies the distribution of intergovernmental grants from the central to the local government level. Proposes and uses a new method of estimating the number of swing voters, and concludes that intergovernmental grants are used to win votes.

Intergovernmental grants as a tactical instrument : empirical evidence from Swedish municipalities / Eva Johansson

Human capital and energy consumption: Evidence from OECD countries

Effect of green technology innovation on green total factor productivity in China: Evidence from spatial durbin model analysis

We investigate the impact of COVID-19 on the Indian financial market and compare it with the outcomes of two recent structural changes of the Indian economy: demonetization and implementation of th...

https://www.tandfonline.com/doi/pdf/10.1080/1540496X.2020.1785425

Does the Indian Financial Market Nosedive because of the COVID-19 Outbreak, in Comparison to after Demonetisation and the GST?

De Vita and Trachanas's (hereafter DV-T, 2016) paper published in (Energy Economics, Volume 56, May 2016, pages, 150-160) criticizes Bal and Rath's paper (Energy Economics, Volume 51, September 2015, pages, 149-156) (hereafter, BR, 2015) by undertaking a â€˜pure replication' and a â€˜reanalysis' using (BR, 2015) data set. The aim of this paper is to reassess (BR, 2015) by providing comments and additional evidence. We revisit (BR, 2015) with the aim of applying additional unit root, cointegration and nonlinear causality tests. The results derived from these supplementary tests clearly reveal that the oil price series is non-stationary at level. The bivariate noisy Mackey-Glass model proposed by Kyrtsou and Terraza (2003) reveals bi-directional non-linear causality exists between real oil price and exchange rate in case of China, whereas for India, only unidirectional nonlinear causality running from oil price to exchange rate.

Badri Narayan Rath

Papers

Does the Indian Financial Market Nosedive because of the COVID-19 Outbreak, in Comparison to after Demonetisation and the GST?

Nonlinear causality between crude oil price and exchange rate: A comparative study of China and India - A Reassessment

Nonlinear causality between crude oil price and exchange rate: A comparative study of China and India

Public debt and economic growth in India: A reassessment

Do fossil fuel and renewable energy consumption affect total factor productivity growth? Evidence from cross-country data with policy insights