Pestana-Barros, C. (Carlos)

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    An Analysis of Oil Production by OPEC Countries: Persistence, Breaks, and Outliers
    (2011) Payne, J.E. (James E.); Pestana-Barros, C. (Carlos); Gil-Alana, L.A. (Luis A.)
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    Oil Prices: Persistence and Breaks
    (2011) Pestana-Barros, C. (Carlos); Gil-Alana, L.A. (Luis A.)
    The rise of oil prices is a main issue in contemporary economics. This study examines the monthly, weekly and daily structure in several oil prices series using a modeling approach based on fractional integration and long range dependence. The results indicate that oil prices series are highly persistent, with orders of integration equal to or higher than 1. Breaks in the series do not alter the main conclusions of this study. That means that shocks have a permanent nature and strong policy measures must be implemented to return the series to their original long term projections.
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    Housing Sales in Urban Beijing
    (2011) Chen, Z. (Zhongfei); Pestana-Barros, C. (Carlos); Gil-Alana, L.A. (Luis A.)
    In the housing market, new properties sometimes experience delays before they are sold. Such delays reflect the preferences of buyers in respect of the homes’ characteristics. Therefore, it is important for managerial purposes to identify the causes of housing sales delays. After analyzing the delays in sales of housing in Beijing City, China, the principal finding of this study is that delays are largely explained by the dwellings’ characteristics and location. Policy implications of the research findings, particularly those related to means of reducing the delays, are discussed.