The Lending-Deposit Rate Relationship in Eastern European Countries: Evidence from the Rank Test for Non-linear Cointegration

This study carries out an examination of the potential non-linear cointegration between the lending and deposit rates of eight Eastern European countries using the non-parametric rank tests proposed by Breitung (2001). Based upon our adoption in this study of the threshold error-correction model (TECM), we find solid evidence of an asymmetric price transmission effect, in both the short term and the long term, between lending and deposit rates. Thus, our results reveal that there are indeed such long-run non-linear cointegration relationships between the lending and deposit rates in these Eastern European countries. Furthermore, we go on to successfully capture the dynamic adjustment of the spread.lending-deposit rates, rank test, non-linearity

Topological nature of bound states in the radiation continuum

Bound states in the continuum (BICs) are unusual solutions of wave equations describing light or matter: they are discrete and spatially bounded, but exist at the same energy as a continuum of states which propagate to infinity. Until recently, BICs were constructed through fine-tuning parameters in the wave equation or exploiting the separability of the wave equation due to symmetry. More recently, BICs that that are both robust and not symmetry-protected (accidental) have been predicted and experimentally realized in periodic structures; the simplest such system is a periodic dielectric slab, which also has symmetry-protected BICs. Here we show that both types of BICs in such systems are vortex centers in the polarization direction of far-field radiation. The robustness of these BICs is due to the existence of conserved and quantized topological charges, defined by the number of times the polarization vectors wind around the vortex centers. Such charges can only be generated or annihilated by making large changes in the system parameters, and then only according to strict rules, which we derive and test numerically. Our results imply that laser emission based on such states will generate vector beams

Does Rational Bubbles Exist in the Taiwan Stock Market? Evidence from a Nonparametric Cointegration Test

In this study, we revisit the issue as to the presence of rational bubbles in the Taiwan stock market during the June 1991 to February 2005 period using the Bierens (1997) nonparametric cointegration tests. The results from the Bierens nonparametric cointegration test attest to the absence of rational bubbles in the Taiwan stock market.Rational Bubbles Taiwan Stock Market Nonparametric Cointegration Test

The Relationship between Stock Price and EPS: Evidence Based on Taiwan Panel Data

In this study, we use panel cointegration methods to investigate the relationship between stock prices and earnings-per-share (EPS). Furthermore, we consider whether stock prices respond to EPS under the different level of growth rate of operating revenue. The empirical result indicated that the cointegration relationship existed between stock prices and EPS in the long-run. Furthermore, we found that for the firm with a high level of growth rate, EPS has less power in explaining the stock prices however, for the firm with a low level of growth rate, EPS has a strong impact in stock prices.Earnings Response Coefficient (ERC)

UREDNIČKI OPOZIV RADA: Fleksibilni Fourierov stacionarni test BDP-a po stanovniku za Srednjoistočne europske zemlje

Statement of Retraction (Zb. rad. Ekon. fak. Rij. • 2012 • vol. 30 • sv. 2 • 219-219, http://www.efri.uniri.hr/dokumenti/zbornik-2012-2-retraction.pdf): This is to notify our respectful reading public that the Editorial Board of the journal Zbornik radova Ekonomskog fakulteta u Rijeci, časopis za ekonomsku teoriju i praksu/ Proceedings of Rijeka Faculty of Economics, Journal of Economics and Business has retracted the following article from publication: “Flexible Fourier Stationary Test in GDP per capita for Central Eastern European Countries“, by Hsu-Ling Chang, Chi-Wei Su, Meng-Nan Zhu, published in our journal Zbornik radova Ekonomskog fakulteta u Rijeci, časopis za ekonomsku teoriju i praksu/ Proceedings of Rijeka Faculty of Economics, Journal of Economics and Business, 2011, vol. 29 (1), pp. 51-63 and almost concurrently published in the journal Eastern European Economics, 2011, vol. 49 (3), pp. 54-65. Being in contact with Josef C Brada, Professor Emeritus, Editor of the journal Eastern European Economics (EEE), we realized that the paper had been sent to both journals, although first published in the EEE and then in our Journal. According to professor Brada’s and our analysis, the paper published in these two journals is exactly the same, except for minor differences in wording, most likely due to editing the text before publication. The outstanding differences are in the title and the fact that the paper published in our Journal has three authors and in EEE journal has two. Whatsoever, owing to the fact that the article had been sent to both journals almost at the same time, it had been impossible to find out the case during the review procedure. Due to this unpleasant situation, our Editorial Board would like to inform our valuable readers that all the necessary measures to retract the paper from our publication have been undertaken and according to publishing ethical principles, cooperation with the authors of the retracted paper have been stopped. Although, in this case neither EEE nor our Journal had any chance to envisage and prevent this double publication in time, we do ask our readers to accept our deepest apology. Ivo Sever, PhD Editor- in- ChiefStatement of Retraction (Zb. rad. Ekon. fak. Rij. • 2012 • vol. 30 • sv. 2 • 219-219, http://www.efri.uniri.hr/dokumenti/zbornik-2012-2-retraction.pdf): Želimo obavijestiti poštovane čitatelje da je Urednički odbor časopisa Zbornik radova Ekonomskog fakulteta u Rijeci, časopis za ekonomsku teoriju i praksu/ Proceedings of Rijeka Faculty of Economics, Journal of Economics and Business povukao sljedeći članak iz publikacije: “Flexible Fourier Stationary Test in GDP per capita for Central Eastern European Countries” grupe autora Hsu-Ling Chang, Chi-Wei Su, Meng-Nan Zhu, objavljenog u našem časopisu Zbornik radova Ekonomskog fakulteta u Rijeci, časopis za ekonomsku teoriju i praksu/ Proceedings of Rijeka Faculty of Economics, Journal of Economics and Business, 2011, vol. 29 (1), str. 51-63 i gotovo istovremeno u časopisu Eastern European Economics, 2011, vol. 49 (3), str. 54-65. U kontaktu s urednikom časopisa Eastern European Economics (EEE), profesorom Josefom C Bradom otkrili smo da je spomenuti članak istovremeno poslan u oba časopisa, s tim da je prije objavljen u EEE, a potom u našem časopisu. Zajedničkom analizom s profesorom Bradom, ustanovili smo da se radi o potpuno istom članku ako se izuzmu neznatne razlike vjerojatno nastale tijekom uredničke obrade prije objavljivanja. Nadalje, jedina uočljiva razlika je u naslovu i u činjenici da su u našem časopisu navedena tri autora, a u EEE-u dva. Ovdje želimo napomenuti da je sama činjenica istovremenog prosljeđivanja članka u oba časopisa dovela do nemogućnosti detektiranja tog slučaja za vrijeme postupka recenzije. Urednički odbor želi obavijestiti svoje uvaženo čitateljstvo da smo poduzeli sve potrebne mjere da se objavljeni članak povuče iz publikacije prema svim etičkim načelima uz napomenu da je svaka daljnja suradnja s autorima članka prekinuta. Iako u ovom slučaju ni EEE niti naš časopis nisu imali mogućnost spriječiti dvostruko objavljivanje, upućujemo svojim čitateljima duboku ispriku. Prof.dr.sc. Ivo Sever Glavni i odgovorni uredni

Thermodynamics of f(R)f(R) Gravity with Disformal Transformation

We study thermodynamics in $f(R)$ gravity with the disformal transformation. The transformation applied to the matter Lagrangian has the form of \g_{\m\n} = A(\phi,X)g_{\m\n} + B(\phi,X)\pa_\m\f\pa_\n\f with the assumption of the Minkowski matter metric \g_{\m\n} = \e_{\m\n}, where $\phi$ is the disformal scalar and $X$ is the corresponding kinetic term of $\phi$. We verify the generalized first and second laws of thermodynamics in this disformal type of $f(R)$ gravity in the Friedmann-Lema\^{i}tre-Robertson-Walker (FLRW) universe. In addition, we show that the Hubble parameter contains the disformally induced terms, which define the effectively varying equations of state for matter.Comment: 23 pages, no figure, published version in Entropy 21, 172 (2019

Monodansylpentane as a Blue-Fluorescent Lipid-Droplet Marker for Multi-Color Live-Cell Imaging

Lipid droplets (LDs) are dynamic cellular organelles responsible for the storage of neutral lipids, and are associated with a multitude of metabolic syndromes. Here we report monodansylpentane (MDH) as a high contrast blue-fluorescent marker for LDs. The unique spectral properties make MDH easily combinable with other green and red fluorescent reporters for multicolor fluorescence imaging. MDH staining does not apparently affect LD trafficking, and the dye is extraordinarily photo-stable. Taken together MDH represents a reliable tool to use for the investigation of dynamic LD regulation within living cells using fluorescence microscopy

Does the Law of One Price hold? A cross-regional study of China

This study considers the price convergence in different regions of China, which is the largest developing country in the world and a country in which the regional difference is much larger between provinces. Whether there is price convergence between regions in one country is an important economic issue according to the Law of One Price (LOP) theory. Compared to previous studies, this article operates with the Sequential Panel Selection Method (SPSM) to explore the non-stationary properties of the LOP in China’s regions. We provide robust evidence to specify that the LOP holds true for two-thirds of the provinces in China, mainly in the Western and Central regions. This means that the Eastern region’s price fluctuation is non-stationary and that the consumer price index (CPI) levels of the Western, Central and Northeastern regions are relatively convergent in China. The conduction path of the CPI level is from the Eastern region to the other regions. It shows that prices can converge with each other by LOP and the values of the same goods in the Western and Central regions are equal and if there is a price difference, then it can be eliminated by interregional trade