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We applied a battery of cointegration tests comprising those of Johansen and Juselius [19], Phillips and Hansen [35], and Engle and Granger [6], to model aggregate health care expenditure using 1960–96 US data. The existence of a stable long-run economic relationship or cointegration is...
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In this paper the author attempts an analysis of the current financial/economic crisis that is wider ranging and more fundamental than he has been able to find. He discusses alternatives to the financial bailouts and shows how the crisis could have been dealt with more efficiently and at little...
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case study on the flow of funds accounts in Japan between 1980-2017. We found that money stock equals total domestic debts … financed by banks, to non-banking private and public sectors including non-financial corporations, households, and the … time series. Current empirical finding demonstrates that the majority of money is created as interest-bearing debts …
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