Using ordinary calculus techniques, we investigate the conditions under which LeChatelier effects are signable for finite changes in parameter values. We show, for example, that the short run demand for a factor is always less responsive to price changes than the long run demand, provided that...

Dedicated to a confluence of issues of our times, `Cross-culture, Multiculturalism, and Migration,’ this volume addresses a necessary and very current desire of our society regarding the need for people to prove their lifestyle, culture and religious traditions to others, in while facing the...

We consider the problem of estimating the volatility of a financial asset from a time series record of length T. We believe the underlying volatility process is smooth, possibly stationary, and with potential abrupt changes due to market news. By drawing parallels between time series and...