The Efficient Markets Hypothesis provides a theoretical basis for trading rules. Technical trading rules provide a signal of when to buy or sell an asset based on such price patterns to the user. Technical traders tend to put little faith in strict efficient markets. Fundamentalists rely on...

Neural networks - feed-forward neural networks and Elman's simplerecurrent neural networks - are compared with vector ARMA models- VAR and VARMA - in this paper. They are compared in anartificial stock market. One risk free and one risky asset aretraded in the market. There are only trend...

<p> <p><span style="font-size: 12.000000pt; font-family: 'CMR12';">The present special issue of the Bulletin of the Czech Econometric Society is devoted to approximation of stochastic programming problems with special regard to empirical estimates. The issue is being published at the occasion of an important jubilee of our dear colleague Vlasta Kankova who...</span></p></p>

An economic model of cycles focused on the foreign capital investment phenomenon will be briefly introduced. We consider a system of the first order non-linear differential equations where a feedbackfunction is controlled by a capital/output ratio parameter. The value of potential gross domestic...

Macroeconomic models usually represent an equilibrium unemployment rate by using a differential equation. The solution of the differential equation expresses the natural unemployment rate. The same result is possible to achieve by using an introduced Markov's model of unemployment. Markov's...