The characterization of asset price returns is an important subject in modern finance. Traditionally, the dynamics of stock returns are assumed to lack any temporal order. Here we present an analysis of the autocovariance of stock market indices and unravel temporal order in several major stock markets. We also demonstrate a fundamental difference between developed and emerging markets in the p...

This paper attempts to examine the impact of major variables affecting export performance of leather goods from Pakistan using primary data source. The exporters from Punjab province were taken as the sampling frame as they share almost 90 percent of total leather exports from Pakistan. In Punjab, leather production and export facilities are primarily located in district Sialkot and Kasur. A re...

The recent financial turmoils in Latin America and Europe have led to a concatenation of several events from currency, banking and sovereign debt crises. This paper proposes a multivariate dynamic probit model that encompasses the three types of crises ’currency, banking and sovereign debt’ and allows us to investigate the potential causality between all three crises. To achieve this objective,...

Throughout economic history, the global economy has experienced recurring crises. The persistent recurrence of such economic crises calls for an understanding of their generic features rather than treating them as singular events. The global economic system is a highly complex system and can best be viewed in terms of a network of interacting macroeconomic agents. In this regard, from the persp...

Results Ex vivo cytokine profile The levels of pro-inflammatory cytokines IL-6 and TNF-a were higher in unstimulated and LPS stimulated PBMC supernatants of FMF patients in crises compared to the control group. Concentrations were comparable between FMF patients during and between crises. There was no difference in spontaneous IL1-b and IL-1 a release by PBMCs of FMF patients and controls. Howe...

Outside of financial crises, investors have little incentive to produce private information on banks’ short-term liabilities held as information-insensitive safe assets. The same does not hold true during crises. We measure daily production using data from credit default swap spreads the global crisis and subsequent European debt crisis. study abnormal around major events interventions these cr...

Abstract This paper contributes to the ongoing debate on nature and characteristics of volatility transmission channels major crash events in international stock markets between 03 July 1997 09 March 2021. Using dynamic conditional correlations (DCC) for clustering, GARCH-BEKK direction disturbances, Diebold-Yilmaz spillover index level contagion, finds that climbs external shock transmissions ...