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A Dynamic Equilibrium Model of Real Exchange Rates with General Transaction Costs

Goswami, Gautam; Shrikhande, Milind; Wu, Liuren - EconWPA - 2002

We study the behavior of real exchange rates in a twocountry dynamic equilibrium model. In this model, consumers can only consume domestic goods but can invest costlessly in capital stocks of both countries. Nevertheless, transporting goods between the two countries is costly and, hence, the...

Persistent link: https://www.econbiz.de/10005076998

Exchange Rate – Relative Price Relationship: Nonlinear Evidence from Malaysia

Liew, Venus Khim-Sen; Lim, Kian-Ping; Lau, Evan; … - EconWPA - 2003

Using nonlinear unit root tests developed by Kapetanios et al. (2003), we find strong evidence that the Consumer Price Index (CPI) and Wholesale Price Index (WPI) based Malaysian Ringgit – U.S. Dollar (MYR/USD) real exchange rates are nonlinear stationary, implying that MYR/USD nominal...

Persistent link: https://www.econbiz.de/10005124933

Exchange Rate – Relative Price Relationship: Nonlinear Evidence from Malaysia

Liew, Venus Khim-Sen; Lim, Kian-Ping; Lau, Evan; … - EconWPA - 2003

Persistent link: https://www.econbiz.de/10005124941

Nonlinear and Complex Dynamics in Real Systems

Barnett, William; Serletis, Apostolos; Serletis, Demitre - EconWPA - 2005

This paper was produced for the El-Naschie Symposium on Nonlinear Dynamics in Shanghai in December 2005. In this paper we provide a review of the literature with respect to fluctuations in real systems and chaos. In doing so, we contrast the order and organization hypothesis of real systems with...

Persistent link: https://www.econbiz.de/10005125638

The Nonlinear Skeletons in the Closet

Barnett, William A.; Jones, Barry E.; Kirova, Milka; … - EconWPA - 2004

Although nonlinearity is the rule in economic theory, nonlinearity tends to make life difficult for econometricians …. While there have been many advances in nonlinear econometrics in recent years, some problems produced by nonlinearity remain …

Persistent link: https://www.econbiz.de/10005556393

The Exact Theoretical Rational Expectations Monetary Aggregate

Barnett, William A.; Hinich, Melvin J.; Yue, Piyu - EconWPA

In aggregation theory, index numbers are judged relative to their ability to track the exact aggregator functions nested within the economy's structure. Within the monetary sector, Barnett, Liu, and Jensen (1997) compared two statistical index numbers: the Divisia monetary aggregate and the...

Persistent link: https://www.econbiz.de/10005561084

THE PRICE-DIVIDEND RELATIONSHIP IN INFLATIONARY AND DEFLATIONARY REGIMES

Madsen, Jakob; Milas, Costas - EconWPA - 2005

This paper argues that the linear price-dividend relationship as predicted in the Gordon model breaks down in regimes of high inflation and deflation. Using data for the US and the UK over the period from 1871 to 2002, nonlinear estimates support the prediction of the model.

Persistent link: https://www.econbiz.de/10005119140

Functional Structure and Approximation in Econometrics (book front matter)

Barnett, William A.; Binner, Jane; Diewert, W. Erwin - EconWPA - 2005

This is the front matter from the book, William A. Barnett and Jane Binner (eds.), Functional Structure and Approximation in Econometrics, published in 2004 by Elsevier in its Contributions to Economic Analysis monograph series. The front matter includes the Table of Contents, Volume...

Persistent link: https://www.econbiz.de/10005119212

Sex, Equality, and Growth (in that order)

Lagerlof, Nils-Petter - EconWPA - 2002

We set up a unified growth model capturing the transition of a primitive and egalitarian hunter-gatherer society, into an advanced and despotic early civilization, and finally into a more egalitarian industrial society. Agents are either landowners or landless; both earn income from human...

Persistent link: https://www.econbiz.de/10005076730

The Roads To and From Serfdom

Lagerlof, Nils-Petter - EconWPA - 2002

production. The ``organization'' of society is determined endogenously, and depends on agricultural technology and population … agents own their labor. In this process, the role of population growth switches from being a force driving the transition … the 19th century US which had sparser population had a larger percentage slaves in the population. …

Persistent link: https://www.econbiz.de/10005125014