It is the flow of capital services, instead of the capital stock, along with the flows of other inputs which is related to the flows of outputs in economic theory of cost and production. In applied research, quite often to capture the dynamic phenomena which occurs within a year, there is a need...

Many authors have documented that it is challenging to explain exchange rate fluctuations with macroeconomic fundamentals: a random walk forecasts future exchange rates better than existing macroeconomic models. This paper applies newly developed tests for nested model that are robust to the...

checkfor is a routine to check for existence of a list of variables within a data set. checkfor searchs through the data whether the variable exists. If it does not, a message is issued. If it does, the program looks for missings structure.

This research develops a theory about the role of inequality in the overtaking of growth performance across countries. The theory captures two opposing effects of inequality on factor accumulation and suggests that the qualitative change in their combined effect is a prime cause of overtaking....

The position taken by William Barnett in this panel discussion is that federal government agencies, including the Bureau of Labor Statistics, view researchers as being among those who comprise the audience for produced data, but not necessarily the most important members of that audience....

In time series from the United States, the relationship between the money to income ratio and the nominal interest rate is a negative and stable one. In Swedish data, there is no such stable relationship. In this paper, we argue that this difference can be explained by the differences in the...