Yongil Jeon

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We propose a new model for the variance between multiple time series, the Regime Switching Dynamic Correlation. We decompose the covariances into correlations and standard deviations and the correlation matrix follows a regime switching model; it is constant within a regime but different across regimes. The transitions between the regimes are governed by a(More)
Thanks are due to Frank Diebold and to Prakash Loungani for insightful comments on the paper. We are grateful to the Deutsche Bank Research for providing the Consensus Forecast dataset used here. The US macroeconomic data were collated from Economic Indicators (Bulletin of the Council of Economic Advisers). The Japanese GDP growth data were kindly provided(More)
Widely publicized reports of fresh MBAs getting multiple job offers with six-figure annual salaries leave a long-lasting general impression about the high quality of selected business schools. While such spectacular achievement in job placement rightly deserves recognition, one should not lose sight of the resources expended in order to accomplish this(More)
Considerable interest has focused on the possible existence of an environmental Kuznets curve, whereby pollution first increases but later falls with increasing income. Empirical studies have concentrated on a wide spectrum of countries and run into inevitable problems of data comparability and quality. We avoid these problems by looking at seven types of(More)
Widely publicized reports of fresh MBAs receiving multiple job offers with six-figure annual salaries leave a long-lasting general impression about the high quality of selected business schools. Business Week reports on a regular basis ranking of MBA programs based on subjective surveys of students and employers. This paper ranks MBA programs using(More)
A spurious regression occurs when a pair of independent series, but with strong temporal properties, are found apparently to be related according to standard inference in an OLS regression. Although this is well known to occur with pairs of independent unit root processes, this paper finds evidence that similar results are found with positively(More)
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usually will not change much. Your forecasts for products and stockkeeping units, using such methods as exponential smoothing , are likely to be in the right direction and reasonably accurate without looking at causal forces beyond event variables for price changes and advertising campaigns. However, Adam Gordon is a futurist by profession, an active member(More)