When analysing food consumption data a number of problems arise when one departs from the comparative statics of conventional demand theory. Two of these properties, non-linearity and non-stationarity present a major challenge for econometric modelling. A new method for time series analysis,...

Since the early 1990s, the Zambian government has undertaken major economic reforms. A sharp stabilisation early in the decade was followed by reforms in agricultural marketing, a large privatisation programme, sweeping trade policy reforms and reforms to the public sector. This paper uses...

In this study we are concerned with the impact of vocational training on the individual's unemployment duration in West Germany. The data basis used is the German Socio-Economic Panel (GSOEP) for the period from 1984 to 1994. To resolve the intriguing sample selection problem, i.e. to find an...

In a classical article, Granger (1966) argued that the levels of most economic time series have spectra that exhibit a smooth declining shape with considerable power at very low frequencies. He termed it "the typical spectral shape of an economic variable." Granger's assertion has not been...

Maximum Probability method is used to translate possibly contiguous and overlapping categorical observations into frequencies.

In this paper we investigate the possibility of the application of subsampling procedure for testing cointegration relations in large multivariate systems. The subsampling technique is applied to overcome the difficulty of nonstandard distribution and nuisance parameters in testing for...

We analyse the evolution of the business cycle in the accession countries, after a careful examination of the seasonal properties of the available series and the required modification of the cycle dating procedures. We then focus on the degree of cyclical concordance within the group of...

Pagan and Shannon's (1985) widely used approach employs local linearizations of a system of non-linear equations to obtain asymptotic distributions for the endogenous parameters (such as prices) from distributions over the exogenous parameters (such as estimates of taste, technology, or policy...

This paper analyses the impact of point systems on the degree of competition in professional football leagues via the annual coefficient of variation (CV) of end-of-season points. The past, existing and some alternative point systems were applied to a hypothetical football league consisting of...

In this project we aren’t trying to make a criticism in the theory and the indications of Solow and Keynes. And so correctly as Keynes comments very equitably... 'Moreover, the characteristics of special case, which the classic theory was accepting , happened to be not those of economy in...