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This paper represents shortly the contribution of the Professor Lucas in modern macroeconomics, notably famous criticism of the Keynesian models. Contribution which was worth him the Nobel prize of economy 1995.
Persistent link: https://www.econbiz.de/10005835589
For decades, the academic literature has focused on three survey measures of expected inflation: the Livingston Survey, the Survey of Professional Forecasters, and the Michigan Survey. While these measures have been useful in developing models of forecasting inflation, the data are low frequency...
Persistent link: https://www.econbiz.de/10009647457
Economists have always been interested in the workings of the financial markets, but most of them neither seek nor get …) economists became involved in the financial markets, and what that professional involvement has entailed, in order to come up … with implications for economists who are considering working in the financial markets as well as for the universities that …
Persistent link: https://www.econbiz.de/10005616608
Abstract: I apply the Beveridge-Nelson business cycle decomposition method to the time series of murder in the United States (1900-2004). Separating out “permanent” from “cyclical” murder, I hypothesize that the cyclical part coincides with documented waves of organized crime, internal...
Persistent link: https://www.econbiz.de/10005835859
for all the countries of the (old) EU and the USA applying the official measurement methods of the United States (absolute …
Persistent link: https://www.econbiz.de/10005836184
The U.S. and China are the world’s largest and second largest CO2 emitters, respectively, and to what extent the U.S. and China get involved in combating global climate change is extremely important both for lowering compliance costs of climate mitigation and adaptation and for moving...
Persistent link: https://www.econbiz.de/10005836250
The present paper embarks on an analysis of interactions between the US and Euroland in the capital, foreign exchange, money and stock markets from 1994 until 2006. Estimating multivariate EGARCH processes for the structural financial innovations determines causality-in-variance effects and...
Persistent link: https://www.econbiz.de/10005836853
with data for Argentina and the U.S.A. circa 1970. …
Persistent link: https://www.econbiz.de/10005836911
The April 21, 2005 issue of the LONDON REVIEW OF BOOKS carried a lead article titled ‘Blood for Oil?’ The paper is attributed to a group of writers and activists – Iain Boal, T.J. Clark, Joseph Matthews and Michael Watts – who identify themselves by the collective name ‘Retort.’ In...
Persistent link: https://www.econbiz.de/10005836969
The present paper aims to study the causal relationship between the US and Indian equity markets using Johansen’s cointegration and variance decomposition analyses. Since the opening up of the economy and subsequent economic and political reforms, India has made tremendous strides in the...
Persistent link: https://www.econbiz.de/10011257845