No abstract

We apply nonparametric methods to a consideration of price transmission processes within U.S. egg markets at the turn of the XIX century. Gordon (2000) labelled this as an era of "Great Inventions" which contributed to the subsequent years of significant productivity growth and noted that the development of mechanical refrigeration and transportation technologies played an important role in this growth. Our models present certain advantages relative to parametric models traditionally employed in price transmission analyses. We compare results derived from local polynomial modelling to those obtained using alternative nonlinear threshold models. Both techniques suggest that U.S. egg markets were interrelated at the turn of the XIX century. However, nonparametric techniques often suggest a higher degree of price transmission than that implied by threshold models. Results also suggest that threshold models may have difficulties in adequately capturing price relationship dynamics, especially when these are of a highly nonlinear nature.

Recent research has explored the determinants of terrorism and the impact that terrorist activity has on a country. However, to date, no research has examined what specific aspect of terrorist risk most significantly impacts a country's ability to operate in the global market. Using the five sub-indices of the World Market Research Center's Global Terrorism Index, this study explores how the different dimensions of terrorist risk impact the inflow of Foreign Direct Investment (FDI) using a Shannon information measure of relationship. The results of this research suggest that a country's proven ability to prevent terrorist activity has the most significant impact on investment decisions in regard to FDI.