It is a common assertion that, in a world with perfect markets and rational expectations, endogenous cycles could only arise under very unrealistic assumptions. This paper offers a short discussion on this claim and a review of the relevant contributions to the literature on deterministic...

Many past studies documented a strong evidence of a linkage between stock prices and macroeconomic activities across different stock markets and time horizons. However, most of these studies have focused on developed economies and highlighted the impact of either domestic variables or a few...

Zusammenfassung Historische Ereignisse spiegeln sich in Preisveränderungen auf Finanzmärkten. Dieses Papier untersucht die deutsche Kriegsgeschichte während des zweiten Weltkriegs anhand der Preisentwicklung der in der Schweiz gehandelten deutschen Staatsanleihen. Die Resultate unserer...

Summary The asset price channel focuses on the relative prices of a wide range of assets in the transmission of monetary impulses on the financial and real capital markets. If monetary impulses are already fading on the financial markets, then their effectiveness in terms of economic policy...

Summary Models with heterogeneous interacting agents have proven to be quite successful in the past. For instance, such models are able to mimic the dynamics of financial markets quite well. The goal of our paper is to explore whether this approach may offer new insights into the working of...

Linear asset-pricing relations, with macroeconomic factors as state variables, have found wide usein empirical finance. Applications of such relations range from academic studies of market efficiency andmarket anomalies to practical uses such as risk management and estimation of the cost of...

Service providers worldwide are seeking competitive advantage through the creation of long‐standing customer relationships. Current theory holds that interactive marketing contributes most to customer satisfaction which, in turn, provides customer motivation for long‐term relationships....

The need for suppliers to carefully determine the form of customer relationship which is appropriate for their business is discussed. The experiences of two firms are considered, one of which is successful because it does not develop close relationships with its customers or its suppliers. The...

Purpose – This paper aims to entertain while reminding readers of the immense variability to be expected with respect to even the most highly recommended of investment strategies. Design/methodology/approach – Opinion column. Findings – This column lays out the historical record of the Dow...

Purpose – The purpose of this paper is to evaluate critically the meta‐narrative that capitalism is becoming totalising and hegemonic. Grounded in an emerging corpus of post‐development thought that has deconstructed this discourse in relation to western economies and the majority (third)...