The Economics of Seasonal Cycles by Jeffrey A. Miron. Pp. xviii+225. Cambridge, Massachusetts: MIT Press, 1996. ($US30.00 cloth) WEB INFORMATION: http://mitpress.mit.edu/book-home.tcl?isbn=O262133237.

In this paper, the performance of the New Keynesian IS curve for the G7 countries is assessed. It is found that there is an IS puzzle for both the purely backward-looking as well as for the forward-looking IS curve. The real interest rate does not have a significantly negative effect on the...

The experience of historical episodes of financial crises in the late 19th and early 20th century, and also more recent episodes of boom and bust cycles in credit markets suggest that the build up of financial imbalances is reflected in asset prices, especially property prices, rather than in...

Although it is well known that electronic futures data absorb news (slightly) in advance of spot markets the role of the electronic futures movement in out‐of‐hours trading has not previously been explored. The behavior of the 24‐hour trade in the S&P 500 and NASDAQ 100 futures market...