The Lucas supply curve is tested using EEC price expectational data. The tests failed to find any evidence of a positively sloped aggregate supply curve due to worker and producer misperception.

This paper embeds survey price expectations of manufacturing into a mark-up model of price determination. The model, which is employed to forecast (changes in) growth in consumer and producer prices one quarter ahead, is estimated for seven EEC countries. The predictive performance, in terms of...

Tests of the Convergence Hypothesis, or the tendency for per capita income levels to narrow over time, have generally utilized cross-sectional data from a wide range of disparate coun7 tries and resulted in conflicting evidence. Using modern time series tests we find evidence of a Nordic...

This paper considers unit root tests of the index of British industrial production 1700-1913. For the full sample the data are found to be I(1). However, three distinct phases are identified with alternating stationarity properties. One period, 1780-1851, is identified as the British Industrial...