Today, it is widely recognized that housing price boom-bust cycles lay at the heart of the latest global financial crisis. A housing boom is commonly defined as a period in which a housing price exceeds its fundamental value. Like most of the European Union member countries, many economies...

There are a plethora of measures of Australia’s international price competitiveness. This article provides a practitioners guide to those series. The currently available measures of international price competitiveness are found to be deficient. A theoretically sound measure is suggested and...

This paper investigates and tests empirically the relationship between military expenditure, civil wars and economic performance in the Democratic Republic of Congo (DR Congo). Romer – Taylor model is estimated. The Econometric estimates show that there is a positive effect of military...

This set of three volumes argues that the mind – human consciousness – may be measured by considering mathematically the aggregate of that consciousness, i.e. social history. From this beginning theme of discussion three questions must arise. 1. How might this measurement be made? 2. Of what...

During the last decades many financial analysts, either theorists or practitioners, have dedicated their studies to the interactions between different financial sectors. The results of these researches confirm that commodities, bonds and stock markets are closely related, therefore a thorough...

The Long-Wave theories of Nikolai Kondratiev and others claim to find mathematic waves in economic and other social data which are at present in dispute. Currently the theory is considered outside the scope of mainstream economics under several rationales. Despite the lack of mainstream...

This paper presents a monetary explanation for several business-cycle facts: (i) household and business investment are procyclical, (ii) business investment lags household investment, (iii) household investment is positively correlated with M1, and (iv) household credit outstanding is positively...

In this paper we analyze the information content of data on inflationary expectations derived from the Israeli bond market. The results indicate that these expectations are unbiased and efficient with respect to the variables considered. In other words, we cannot reject the hypothesis that these...

In contrast to the traditional duration dependence test, the paper introduces an order statistic known as Approximate Entropy to investigate the presence of speculative bubbles for a cross country sample. Using Approximate Entropy, the article examines four major crash in the US, Japan, Hong...