The median value of realized changes for surveyed firms expecting "no change" is zero. I suggest to modify the Carlson-Parkin procedure using this conditional absolute null (CAN) regularity. The adjustment solves the zero response problem and improves the variance estimates.

The paper reconstructs the origins of the quantity theory of money and its applications. Referring to the history of money, it is shown that the theory was flexible enough to adapt to institutional change and could thus maintain its actuality. To this day, it is useful as an analytical...

This contribution examines whether the share price of the Borussia Dortmund GmbH & Co. KgaA (BVB) behaves according to the (capital) market efficiency hypothesis of Fama (1970). The weak form of capital market inefficiency, according to which past share prices cannot be used for predictions in...