INTERNATIONAL ECONOMETRIC REVIEW http://www.era.org.tr/ Econometric Research Association (ERA) -Turkey is pleased to invite you for submissions of articles to International Econometric Review (IER), which is published by ERA. Previous issues of IER can be downloaded from the web page: http://www.era.org.tr/articles.htm Aims and Scope International Econometric Review (IER), sponsored by the Econometric Research Association (ERA), is an independent international journal which publishes semiannually. IER aims to publish articles of high quality dealing with the application of existing as well as new econometric techniques to a wide variety of problems in economics and related subjects, covering topics in estimation, hypothesis testing, forecasting, and policy analysis. The emphasis is on the careful and rigorous application of econometric techniques and the appropriate interpretation of the results. IER particularly emphasizes the replicability of empirical results especially using international data. Authors are expected to make available their data set and computer programs in case readers, editors or referees should want to replicate results reported in submitted contributions. Description International Econometric Review Print ISSN: 1308-8793 Online ISSN: 1308-8815 Type: Refereed Journal Issues per Volume: Two Audiance The audience for “International Econometric Review” includes academics, researchers, policy-makers, regulators, standard-setters and professionals in the fields of economics and finance. Likely subscribers are universities, research institutions, research funding organisations, governmental and international agencies, financial institutions and exchanges, regulatory institutions and individual researchers. Submission Guidelines Submissions to IER can be made either online (http://www.era.org.tr/author_login.htm) or by sending articles to journal@era.org.tr. Online submission is suggested by ERA since in that case it is possible for the authors to follow the status of their submitted paper online as well. All of the information related to submission guidelines is available at the web page: http://www.era.org.tr/submission_guidelines.htm Editorial Information The editorial team of IER is truly international and includes an Editor, 3 Asisstant Editors and 35 Associate Editors. Editor Asad Zaman International Islamic University, Islamabad, Pakistan Asisstant Editors Sidika Basci Arzdar Kiraci Murad Tiryakioglu Econometric Research Association, Ankara, Turkey Baskent University, Ankara, Turkey Afyon Kocatepe University, Afyon, Turkey Associate Editors Ad J. W. van de Gevel Amita Majumder Arthur van Soest Aykut Lenger Ben S. Branch Berna Kocaman Christian Hafner Diganta Mukherjee Erkan Erdil Francis X. Diebold Gulnur Muradoglu Hakan Berument Hans J. Blommestein In Choi J. Paul Elhorst Julide Yildirim Ocal Kenneth Kasa Kivilcim Metin Ozcan Luc Bauwens Manoranjan Pal Mehmet Orhan Michael R. Wickens Michel Mouchart Nadir Ocal Nikolay Gospodinov Nityananda Sarkar Ozlem Onder Pavel Cizek Pier Giorgia Ardeni Roberto S. Mariano Ryo Okui Sébastien Van Bellegem Stanislav Anatolyev Teoman Pamukcu Yılmaz Kilicaslan Tilburg University, Netherlands Indian Statistical Institute, India Tilburg University, Netherlands Ege University, Turkey University of Massachusetts, U.S.A Ankara University, Turkey Université catholique de Louvain, Belgium Indian Statistical Institute, India Middle East Technical University, Turkey University of Pennsylvania, U.S.A City University London, UK Bilkent University, Turkey Tilburg University, Netherlands and OECD, Paris, France Hong Kong University of Science and Technology, Hong Kong University of Groningen, Netherlands Gazi University, Turkey Simon Fraser University, Canada Bilkent University, Turkey Université catholique de Louvain, Belgium Indian Statistical Institute, India Fatih University, Turkey The University of York, U.K Université catholique de Louvain, Belgium Middle East Technical University, Turkey Concordia University, Canada Indian Statistical Institute, India Ege University, Turkey Tilburg University, Netherlands University of Bologna, Italy Singapore Management University, Singapore Kyoto University, Japan Université catholique de Louvain, Belgium New Economic School, Russia Middle East Technical University, Turkey Anadolu University, Turkey Contact Information Address : Sairler Sokak, No: 32/C, Gaziosmanpasa, Ankara, Turkey Phone / Fax : ++(90) (312) 447 51 95 e-mail journal@era.org.tr :