In this paper we study simple time series models and assess their forecasting performance. In particular we calibrate ARMA and ARMAX (where the exogenous variable is the system load) processes. Models are tested on a time series of California power market system prices and loads from the period...

The paper investigates the relationship between relative price movements and changes in the aggregate price level using monthly data on Finland’s Consumer Price Index and its components from the period covering the past eight and a half years. This was a period of very low inflation. The rate...

Under the guidance of monetarist theory and the issue of dominance, this study is a survey of a rapidly growing literature on Fiscal Theory of Price Level, which opens up new horizons in a non –Ricardian world and questions the effectiveness of monetary policy on price level determination.

Religious participation is much more widespread in the United States than in Europe, while Europeans tend to view sects more suspiciously than Americans. We propose an explanation for these patterns without assuming differences in preferences or market fundamentals. Religious markets may have...

Both in demographic as well as in sociological terms, much of West European fears about East European migration at least conceal the real issues of the future migration processes. An analysis of world population growth trends shows that Africa, West Asia and Southeast-Asia become the real future...

In this paper we present an economic model contributing to the explanation of religious schism, a topic mostly dealt with in the fields of sociology and psychology so far. The main idea is to see religious groups as networks. These networks may serve as a device for exchanging information about...

The present paper is a first attempt to measure and explain, from an economic perspective, the religious behavior of uruguayans (women in this stage), and compare the results with those obtained for some Latin American and developed countries. In this first stage, the efforts were concentrated...