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In this paper we aim to trace the roots of the ongoing economic mayhem and to unmask the chorus of the tragedy which plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of perfect competition, the global fields of the dysfunctional...
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-form GARCH-in-mean model assigned to six globally leading financial markets. The obtained results support Keynes's theory - the …
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