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A number of authors have attemted to test whether the U.S. economy is in a determinate or an indeterminate equilibrium. We argue that to answer this question, one must be impose a priori restrictions on lag length that cannot be tested. We provide examples of two economic models. Model 1...
Persistent link: https://www.econbiz.de/10009635896
general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price …
Persistent link: https://www.econbiz.de/10009636527
We evaluate the Friedman-Schwartz hypothesis that a more accommodative monetary policy could have greatly reduced the severity of the Great Depression. To do this, we first estimate a dynamic, general equilibrium model using data from the 1920s and 1930s. Although the model includes eight...
Persistent link: https://www.econbiz.de/10009636549
There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...
Persistent link: https://www.econbiz.de/10009635889
This paper analyses the information content of M1 for euro area real GDP since the beginning of the 1980s and reviews theoretical arguments on why real narrow money should help predict real GDP. We find that, unlike in the U.S., in the euro area, M1 has better and more robust forecasting...
Persistent link: https://www.econbiz.de/10009635922
Persistent link: https://www.econbiz.de/10010335220
Persistent link: https://www.econbiz.de/10009637555
The aim of this study is to provide an updated version of the study entitled Recruitment and Equal Opportunities … Systems published by the European Parliament in November 2000 (Gonzalez Garcia, I., Recruitment and Equal Opportunities … offers an overview, based on the most recent data and information, of the recruitment and equal opportunities systems in the …
Persistent link: https://www.econbiz.de/10009638895
supporters and find new recruits. It finds that Islamist militant recruitment efforts have largely been driven underground, with … little overt propagation and recruitment now occurring at mosques. Prisons and other ‘places of vulnerability’ continue to be … ‘activists’ are now the ‘engines’ of Islamist militant recruitment. They often draw on recruits from so-called ‘gateway …
Persistent link: https://www.econbiz.de/10011799461
This is a survey on the recent game theoretic literature on committee decision making. We consider theoretical work on the role of (i) strategic voting, (ii) costly information acquisition, (iii) conflicting interests, and (iv) communication in committees. Moreover, we review recent experimental...
Persistent link: https://www.econbiz.de/10009635876