The formation of export prices is an area in which the linear quadratic adjustment cost (LQAC) model under rational expectations may be relevant in practice. This paper evaluates the empirical performance of the LQAC-model using Norwegian data and a new testing procedure suggested by Johansen...

In this paper we analyze whether people who spend money on experiences rather than material things are more satisfied. Previous psychological studies have several drawbacks, and therefore their results might be biased and unreliable. Trying to avoid these drawbacks in this research we use...

n this paper we analyze whether people who spend money on experiences rather than material things are more satisfied. Previous psychological studies have several drawbacks, and therefore their results might be biased and unreliable. Trying to avoid these drawbacks in this research we use...

Based upon Granger causality and Pesaran-Shin’s generalized impulse-response functions, this paper studies the link between the term structure and economic growth, and the link between the term structure and actual and expected percent changes of the Cons

This paper examines the Granger causality between total expenditures, own source revenues, grants received from the State and long-term loans for 12 subgroups of Finnish municipalities. Two panel data sets that cover the years 1985-1992 and 1993-1999 are used in order to compare the effect of...

This paper presents the idea that retail trade stories might cluster with their competitors to pool marketing expenses and thereby increase their individual visibility among consumers. In a model which presumes such a marketing technology we derive some new comparative statics results. In a...