Convergence in inflation rates may not imply a process of convergence in price levels. If this were the case in the European Union, small but consistent differences in inflation would lead to inevitable realignments and would end up in a set back of the inflation convergence process. For some...

Macroeconomic shocks such as wil price increases induce a systematic (endogenous) response of monetary policy. We develop a VAR-based technique for decomposing the total economic effects of a given exogenous shock into the portion attributable directly to the shock and the part arising from the...

The Hotelling Principle states that the unit price of an exhaustible resource less the marginal cost of extracting it will tend to rise over time at a rate of interest equal to the return on comparable capital assets. Using a greatly extended data set and Ordinary Least Squares (OLS) regression...

Данная статья дает определение прибыли как экономической категории. Рассмотрены теории прибыли в ракурсе взглядов различных экономистов и экономических школ....

Анализируются справедливые цены как сложное явление, которое постоянно развивается. Справедливые цены определяются как цены, которые формируются...

We present a unified theoretical framework capable to address the main real capital decision problems. Initially we specify a continous-time, terminal-horizon real capital model and use it to trace the properties of optimal utilisation, maintenance, and expansionary investment policies, as well...