An analysis of the multiplier for the US federal government's consumption expenditures is presented. A simple approach to identify the influence of the federal government's consumption expenditures on economic activity using reduced-form equations is clearly presented and examined using annual...

The conventional search and matching model has been criticized for its inability to explain large cyclical volatility in the vacancy-unemployment ratio without ad hoc assumptions of wage rigidity. This paper presents a mechanism of such volatility without assuming wage rigidity by showing that...

In this article, three issues relating to leading composite indicators (LCI) are discussed: their importance, methods of estimation and uses by institutions worldwide. This discussion is utilised to provide lessons that could be learnt for the application of these indicators to the countries of...

Study and characterization of business cycles are an important issue in the analysis of empirical regularities in a developing economy. Following standard literature of business cycles, we establish episodes of business cycles in Bolivia. We apply economic and statistical filters to economic...

This Economics Research Note examines inventories in the business cycle for Australia covering the period since the mid 1980s. The Australian Bureau of Statistics (ABS) defines inventories as all materials etc., work in progress and finished goods owned by a business, whether held at locations...

This paper extends the Markov-switching vector autoregressive models to accommodate both the typical lack of synchronicity that characterizes the real-time daily flow of macroeconomic information and economic indicators sampled at different frequencies. The results of the empirical application...

Social security is not apart from other aspects of growth and development. It is a phenomenon completely coherent to economic growth, social justice, human dignity and national prosperity. Generally national social security systems in most countries consist of insurance, protection and relief...

This paper tests empirically the well-known Goodwin’s ‘growth cycle’ disaggregated models, using data from the symmetric input-output table of the Greek economy for the year 1988. It is found that from qualitative as well as quantitative point of view, both models are not adequate to...

Recent literature has been able to include into standard optimal growth models some hypotheses that allow for the generation of endogenous long run fluctuations. This paper contributes to this endogenous business cycles literature by considering social interactions. In the proposed model,...

We reassess the relationship between money and output using quarterly data from the US economy. We use several tools based on wavelets, the wavelet power transform and the wavelet coherence with which we analyze this relationship in both time and frequency. We find evidence of a weaker...