This paper outlines the conditions under which the stationary probability distribution function (PDF) of an autonomous Ito process stochastic diffirential equation (SDE) belongs to the generalized exponential family (GEF) of densities and the interaction between economic equilibria and...

The aim of this paper is to provide an outline of the development of the theory of exchange, concentrating on the less well-known development of the formal model which culminated in the contribution of Edgeworth. The importance of exchange, viewed as the central economic problem for the early...

In this paper I look in some detail at one specific aspect of macro distribution theories, namely Keynes's Macro theory of profits.

This article explains how movements in the unemployment rate reflect the relative rates of growth of employment and the labour force and are related to the participation rate, labour productivity growth and output growth. A framework is provided in which to analyse the determinants of movements...

The Fisher equation predicts that nominal interest rates and inflation should move together one-for-one. Recently published work argues that both nominal interest rates and inflation are non-linear. The evidence in this paper suggests that nominal interest rates are well described as two-regime...