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Majority of the existing direct slicing methods have generated precise slicing contours from different surface representations, they do not carry any interior information. Whereas, heterogeneous solids are highly preferable for designing and manufacturing sophisticated models. To directly slice heterogeneous solids for additive manufacturing (AM), this study aims to present an algorithm using octree-based subdivision and trivariate T-splines.

This paper presents a direct slicing algorithm for heterogeneous solids using T-splines, which can be applied to AM based on the fused deposition modeling (FDM) technology. First, trivariate T-splines are constructed using a harmonic field with the gradient direction aligning with the slicing direction. An octree-based subdivision algorithm is then used to directly generate the sliced layers with heterogeneous materials. For FDM-based AM applications, the heterogeneous materials of each sliced layer are discretized into a finite number of partitions. Finally, boundary contours of each separated partition are extracted and paired according to the rules of CuraEngine to generate the scan path for FDM machines equipped with multi-nozzles.

The experimental results demonstrate that the proposed algorithm is effective and reliable, especially for solid objects with multiple materials, which could maintain the model integrity throughout the process from the original representation to the final product in AM.

Directly slicing heterogeneous solid using trivariate T-splines will be a powerful supplement to current technologies in AM.

The purpose of this paper is to develop a new framework to test the hypothesis that portfolio model predicts a negative correlation between stock prices and exchange rates in a trivariate transmission channel for foreign portfolio equity investment.

This paper utilizes panel data for eight economies to extend the Dumitrescu and Hurlin (2012) Granger non-causality test of heterogeneous panels to a trivariate model by integrating the Toda and Yamamoto (1995) approach to Granger causality.

The evidence suggests that stock prices Granger-cause exchange rates and portfolio equity flows Granger-cause exchange rates. However, the overall panel evidence casts doubt on the explicit trivariate model of portfolio balance model. The study shows that Indonesia may be the only case where stock prices affect exchange rates through portfolio equity flows.

The proposed test does not account for potential asymmetries or structural shifts associated with the crisis period. To isolate the impact of the Asian Financial crisis, this paper rather splits the sample period into two sub-periods: pre- and post-crises. The sample period and countries are also limited due to the use of the balance of payment statistics.

The study casts doubt on the maintained hypothesis of a trivariate transmission channel, as posited by the portfolio model. Policy makers of an economy may integrate capital market and fiscal policies in order to maintain stable exchange rate.

This paper integrates a portfolio equity inflow variable into a single framework with stock price and exchange rate variables. It extends the Dumitrescu and Hurlin’s (2012) bivariate stationary Granger non-causality test in heterogeneous panels to a trivariate setting in the framework of Toda and Yamamoto (1995).

In this article we propose a multivariate dynamic probit model. Our model can be viewed as a nonlinear VAR model for the latent variables associated with correlated binary time-series data. To estimate it, we implement an exact maximum likelihood approach, hence providing a solution to the problem generally encountered in the formulation of multivariate probit models. Our framework allows us to study the predictive relationships among the binary processes under analysis. Finally, an empirical study of three financial crises is conducted.

This study investigates the effects of fiscal policy on the U.S. economy within the confines of causality testing framework. A unidirectional causal flow is established from nominal GNP to fiscal expenditures and deficits. Further testing of the data indicates that although fiscal policy does not affect real output, it impacts the CPI.

This paper aims to investigate empirical evidence of behavioral contagion between oil market, US market and stock markets of oil-importing and oil-exporting countries, during the oil shock and US financial crisis period of 2008-2009, after controlling for fundamentals-driven co-movements.

To examine the volatility spillover among oil market and stock markets, the conditional variance of the trivariate BEKK-GARCH model includes three variables: oil returns, US index returns, and the respective individual market returns of 22 oil-importing and exporting countries. The authors estimate the time-varying correlation coefficients between the prediction error of oil market and each stock index. Also, the authors estimate the time-varying correlation coefficients between the prediction error of US market and each stock index.

The estimation of the trivariate BEKK-GARCH model for VIX, oil market and 23 stock markets of oil-importing and oil-exporting countries suggests the volatility spillover of American investor sentiment to stock market and oil market returns. To capture the pure contagion effects between oil market and stock markets, the authors estimate the forecasting errors of time-varying parameter using the Kalman independently of macroeconomic fundamentals factors. The authors analyze the dynamic correlation between forecasting errors of oil price returns and stock indices returns. The authors show a sharp increase in time-varying correlation coefficients during the oil crisis and US financial crisis period of 2008-2009, which provides strong evidence of herding contagion between oil market and stock markets during the turmoil period.

This paper makes an original contribution in identifying the behavioral contagion between oil market, US market and stock markets of oil-importing and exporting countries especially during the oil shock and US financial crisis period of 2008-2009. Specifically, the authors consider investor sentiment and herding bias to explain the volatility transmission between oil and stock market returns.

The purpose of this paper is to analyze volatility transmission between the Japanese stock and foreign exchange markets.

In contrast to the existing literature, industry‐level stock data are applied to a trivariate Baba, Engle, Kraft and Kroner‐generalised autoregressive conditional heteroscedasticity (BEKK‐GARCH) model that also includes comparable US industrial stocks returns as a control variable.

Using daily data over the study period 1994‐2007, it was found that news shocks in the Japanese currency market account for volatility transmission in eight of the ten industrial sectors considered. Evidence was also found of significant asymmetric effects in five of these industries.

While the BEKK‐GARCH model enables analysis of volatility transmission between the stock and foreign markets against a background of conditional correlation and asymmetries, the model requires the estimation of a large number of parameters, which can be problematic for a limited dataset.

The paper's findings have important implications for understanding international volatility transmission involving the stock and foreign exchange markets. This in turn can provide insight into investor behaviour.

This paper investigates the short‐run and the long‐run relationship among productivity growth, inflation and monetary policy in the U.S. economy. Under the trivariate ECM analysis, the test results indicate that it is monetary policy which plays the predominant role in the relationship under investigation.

This paper investigates whether institutional environment influences the relationship government spending and economic growth in ECOWAS over the period 2008–2017.

The study adopts the recently developed panel vector autoregressive (PVAR) by Abrigo and Love (2015) and a two-step system generalised method of moment (GMM).

The results from the study show no evidence of either unidirectional or bidirectional causal relationship between government spending and economic growth in ECOWAS. Our findings reveal that government spending when associated with high level of corruption, oversized government and a waste of public resources will not cause economic growth.

Unlike previous studies, we resolve the inherent problems of endogeneity and persistence in economic data. Likewise, we depart from existing studies that examined the causal relationship in a bivariate framework and adopt a trivariate causality testing.

This paper aims to employ GARCH-class models (GARCH, IGARCH and CGARCH) to estimate the volatility persistence on crude oil, US, Gulf Corporation Council (GCC), Brazil, Russia, India and China (BRIC) stock markets. Also, the paper investigates the volatility spillover and the dynamic conditional correlation between crude oil, US stock index and stock indices of GCC and BRIC countries. The results prove a high degree of volatility persistence in the crude oil and stock markets. Based on the BEKK-GARCH and DCC-GARCH results, the paper finds strong evidence of the contagion effect of the oil shock and US financial crisis of 2008 on GCC and BRIC stock markets.

In the beginning, the paper uses univariate GARCH models to estimate the volatility persistence of the oil market, US stock market, and GCC and BRIC stock markets. Then, the paper uses a trivariate BEKK-GARCH model of Malik and Hammoudeh to examine the volatility spillover between oil market, US stock market and stock markets for GCC and BRIC countries. Finally, the paper analyses the dynamic conditional correlation between US market and each stock market of GCC and BRIC countries using the DCC-GARCH model. Also, the paper estimates the dynamic conditional correlation between oil market and all stock markets.

The results indicate the contagion effect of the oil shock and US financial crisis of 2008 on the GCC stock markets which are among the most important oil-exporting countries and also on BRIC stock markets which are among the emergent countries which are characterized by high economic growth level.

The contribution of this paper is to investigate the existence of contagion effect between oil market, US stock market and two panels of emerging stock markets which have different economic characteristics, the GCC and BRIC countries, during the oil shock and US financial crisis period of 2008-2009.

The paper seeks to examine the inter‐temporal causal relationship between financial development and poverty reduction in Kenya during the period 1968‐2006. The study attempts to answer one critical question: is financial development in Kenya a spur to poverty reduction?

The study uses a trivariate causality model based on cointegration and error‐correction mechanism. Unlike the majority of the previous studies, the current study incorporates the savings rate as an intermittent variable in the bivariate causality setting between financial development and poverty reduction – thereby creating a simple trivariate causality model.

The study finds a distinct causal flow from financial development to poverty reduction in Kenya. In addition, the study finds a uni‐directional causality from financial development to savings and a bi‐directional causality between savings and poverty reduction. The results apply irrespective of whether the causality test is conducted in the short run or in the long run.

The empirical results of this study will help policy makers to determine whether the financial development in Kenya is pro‐poor and pro‐savings.

Although several attempts have been made to investigate the relationship between financial development, savings, economic growth and other macroeconomic variables, very few studies have examined the impact of financial development on the ultimate policy goal, i.e. poverty reduction. Moreover, the majority of the previous studies are based mainly on Asia and Latin America – affording sub‐Saharan African countries very little or no coverage at all.