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We used a recursive modeling approach to study whether investors could, in real time, have used information on the comovement of stock markets to forecast stock returns in European stock markets for high-technology firms. We used weekly data on returns in the Neuer Markt, the Nouveau Marché,...
Persistent link: https://www.econbiz.de/10010260542
From its flow tide, fueled by the Cold War, to its ebbing with the anti-growth movement and the economic crises of the early 1970s, the “growthmen” of MIT stood at the center of the dominant field in macroeconomics. The history of MIT growth economics is traced from Solow’s seminal...
Persistent link: https://www.econbiz.de/10014156253
The Bullionist Controversy in the United Kingdom is one of the first debates about the determination of the price level and the exchange rate under a paper money standard. Despite the importance of the debate in the development of monetary theory, there remains little empirical evidence that...
Persistent link: https://www.econbiz.de/10012968850
Practically all of R. Skidelsky's views on Keynes's General Theory are a reflection of the many myths about Keynes that … Joan Robinson spread. Basically, these myths are figments of her imagination. For instance, one such myth about Keynes was … that uncertainty for Keynes meant that all decision making over time takes place under conditions of complete and total …
Persistent link: https://www.econbiz.de/10012914764
J M Keynes could not respond to Ramsey’s 1922 Cambridge Magazine “article” because Keynes’s response would have … numbers of errors of commission and omission. Ramsey not only didn’t get anything correct or right about Keynes's analysis in … Treatise on Probability that is correct.The real mystery is not Keynes’s so called "mysterious" non numerical probabilities …
Persistent link: https://www.econbiz.de/10013237449
C. Misak’s 2020 biography of Ramsey has major errors in it, as regards the influence of Ramsey on Keynes with respect … January, 1922 issue of the Cambridge Magazine that supposedly demolished and destroyed Keynes’s logical theory of probability ….Ramsey had no idea about what Keynes’s logical theory of probability was. For instance, Ramsey had no idea that Keynes’s logical …
Persistent link: https://www.econbiz.de/10013238907