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Prominent financial stock pricing models are built on assumption that asset returns follow a normal (Gaussian) distribution. However, many authors argue that in the practice stock returns are often characterized by skewness and kurtosis, so we test the existence of the Gaussian distribution of...
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This chapter presents an application of competitive general equilibrium theory of markets in the spirit of Walras …, formalized in the 1950s by K. Arrow and by G. Debreu. In using general equilibrium theory to generate insight into current policy … organization of economic activity (1969), on the evaluation of public investment (Arrow and Lind, 1970), and in urban development …
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The paper investigates Evsey's Domar's introduction of the rate of growth as a variable in economics in the 1940s and 1950s . Domar investigated the nature of what he called the "moving equilibrium" of ec onomic processes with infinite duration. Reactions to Domar' s approach at the time brought...
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