zero. The paper shows that declining nominal prices were a rather common phenomenon during this period of low or no … inflation. The declining prices cannot, however, be explained by lack of demand or any generalized deflationary tendencies …. Hence, the downward rigidity of nominal prices has not prevented relative price adjustments under price stability. The paper …

This paper reviews the existing empirical evidence on the short-term impact on prices of fiscal variables and assesses … Commission and the OECD models. Overall, a broad consensus appears on the impact on prices of changes in individual government … limited impact on prices in the first year while, in contrast, changes in indirect taxes and employers’ social security …

, price-earnings (P/E) still showed a significant overvaluation of equity prices when compared to the historical average over …) stock prices was reached, the real S&P 500 exceeded the upper band of the 95 p.c. confidence intervals during both periods …. For each of them, the Q model showed earlier and more persistent signals of significant overvaluation of stock prices than …

This paper examines the forecasting performance of GARCH’s models used with agricultural commodities data. We compare … different possible sources of forecasting improvement, using various statistical distributions and models. We have chosen to …

ratio when forecasting long-run returns. The empirical results for the S&P 500 show the superiority of our approach to …