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The aim of this paper is to analyze the effects of carbon emission, ecological footprint, which takes into account the demand side of the environment, and load capacity factor, which takes into account both the supply and demand sides of the environment, on health expenditures with conventional and quantile methods. According to the conventional co-integration approach, there is no relationship between the environment and health expenditures. The other side, the findings obtained from the quantile co-integration method, which can give robust results in the presence of tailed distributions and possible endogeneity problems and consider the asymmetric structure in the data set, show the existence of a long-term relationship between the variables. According to the coefficient estimates, while carbon emission and ecological footprint increase health expenditures, the load capacity factor decreases. [ABSTRACT FROM AUTHOR]

We test Fisher hypothesis in 14 inflation targeting emerging countries by quantile co-integration approach allowing asymmetric behaviour of long-run co-integration relationship. While conventional co-integration methods do not support Fisher hypothesis for any country, quantile co-integration approach confirms Fisher hypothesis in nine countries with time-varying behaviour of Fisher coefficient. Our results thereby can shed light on Fisher puzzle in inflation targeting emerging markets and provide insightful implications. The findings suggest that inflation targeting in emerging markets would lead to an asymmetric adjustment, implying heterogeneous effects of negative and positive shocks. Monetary authorities, in particular, tend to increase short-term interest rates by a larger amount during high inflation period than low inflation period. [ABSTRACT FROM AUTHOR]