We suggest a theoretical basis for the comparative evaluation of forecasts. Instead of the general assumption that the data is generated from a stochastic model, we classify three stages of prediction experiments: pure non-stochastic prediction of given data, stochastic prediction of given data,...

We measure technological progress in oceanic shipping by using a large database of daily log entries from ships of the British and Dutch navies and East India Companies to estimate daily sailing speed in different wind conditions from 1750 to 1850. Against the consensus, dating back to North...

We provide a centennial overview of the Irish economy in the one hundred years following partition and independence. A comparative perspective allows us to distinguish between those aspects of Irish policies and performance that were unique to the country, and those which mirrored developments...

We examine the determinants of the dissent in central bank boards' voting records about monetary policy rates in the Czech Republic, Hungary, Sweden, the U.K. and the U.S. In contrast to previous studies, we consider about 25 different macroeconomic, financial, institutional, psychological or...

Many macroeconometric models depict situations where the shares of the major demand aggregates in output are stable over time. The joint dynamic behavior of the considered demand aggregate and output may thus be approximated by a cointegrated vector autoregression. However, the shares of many...