I address the issue of the `number` of International Monetary Equilibria that the international finance model of Geanokoplos and Tsomocos (2002) possesses. The mainstream competitive model has locally unique equilibria with respect to the real side of the economy; however, it manifests nominal...

What is the impact of joining the European Union on a small, less developed economy? This is the general question driving this research paper. In particular, the role of factor movements in explaining real wage behavior in Portugal after its entry in the European Union (EU) is evaluated. Based...

It is widely believed that regional labour markets in the USA are highly flexible, so that employment shocks have only transitory effects on joblessness since induced migration quickly offsets much of the initial impact. However time-series analysis of the response to shocks is very sensitive to...

This paper describes some recent advances and contributions to our understanding of economic forecasting. The framework we develop helps explain the findings of forecasting competitions and the prevalence of forecast failure. It constitutes a general theoretical background against which recent...

We demonstrate major flaws in the statistical analysis of Beenstock, Reingewertz and Paldor (2012), discrediting their initial claims as to the different degrees integrability of CO2 and temperature.

Given the increasing use of panel data in testing hypotheses about labour market behaviour, it is essential that economists have a cound grasp of the problems involved in the collection of this type of data. This paper investigates the biases generated by recall errors and panel attrition, using...

When breaks occur, equilibrium-correction models (EqCMs) based on cointegration face forecasting problems.  We investigate approaches to alleviate forecast failure following a location shift, including updating, intercept corrections, differencing, and estimating the future impact of an...

Success in accurately forecasting breaks requires that they are predictable from relevant information available at the forecast origin using an appropriate model form, which can be selected and estimated before the break.  To clarify the roles of these six necessary conditions, we distinguish...

Competition authorities all over the world worry that integration between search engines (mainly Google) and publishers could lead to abuses of dominant position.  In particular, one concern is that of own-content bias, meaning that Google would bias its rankings in favor of the publishers it...

This paper develops an asymmetric price setting oligopoly model of store opening and closure decisions in the UK supermarket industry which is estimated using a survey of consumer choices and a dataset of store characteristics. The model is used to examine the strategic local entry and exit...