This study refers to the earlier work of analysis in the frequency domain. A different definition of causality is made, and its implications to the general idea of causality are discussed. The causality relationship between two monetary aggregates, simple sum and Divisia indices, and their...

This paper tests the Fisher effect. The analysis is applied to the U.S.A. It contributes to the existing empirical literature in three ways. First, it considers a panel of short term and long term real interest rates between 1960 and 2008. Second, it explores both the presence of unit root and...

We numerically examine the impact of the global economic crisis on the Cambodian garment exports as well as its economy by using the conventional CGE model. A seminal aspect of the paper is that we have successfully estimated the curvature of the CET and CES production functions for the...

Abstract: It appears that a phase rule, which hints at how communities or social grouping can be viewed as “phases†similar to that in Thermodynamics, is plausible. Trade potential m , similar to Gibbs Chemical Potential , resulting from the â€Intropy†(or negative entropy)...

The paper gives a proof of the existence and the uniqueness of price equilibrium in a multi-product, multi-firm competition framework. It illustrates how the price levels depends on the inter-brand portfolio substitution and on the intra-brand portfolio substitution

The economics of paintings and sculpture have extensively been analysed, but the literature records no application to photography. This article estimates a hedonic model to relate the prices of auctioned photographs to their attributes. Our model explains 53 percent of variations across...

This article reports an “acceptable calculus†of the bargaining problem solution as used by game theoreticians. By an acceptable calculus we understand an algorithm which can lead us to the result in an acceptable time either using the computing power of nowadays computers or a known...

A network consisting of suppliers, agents, and distributors is considered. The flow of orders and deliveries between the different elements are determined. We attempt to develop a numerical description of the supply and demand structure for the deliveries of commodities in the network. We...

Europeans have worked less than Americans since the 1970s. In this paper, we quantify the relative importance of the extensive and intensive margins of aggregate hours of market work on the observed differences. Our counterfactual exercises show that the two dimensions of the extensive margin,...

We have made a correction to "A generalization of monotone comparative statics", which is published in Economics Bulletin Vol. 3, No. 39. We correct the following three aspects of the original paper: the first and the second are the name and the definition of some fundamental notions,...