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This paper looks at the changing nature of regulation making with a special emphasis on the role that economists should play. It focuses specifically on the processes used to develop regulations. It argues that the traditional process for regulation making is breaking down and that the quality...
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In this paper the authors consider both the transitional and long-run implications of one aspect of changing Canada's constitutional structure--dividing the federal debt. They argue that it may be very difficult to agree on a division formula and particular regions may have strong incentives to...
Persistent link: https://www.econbiz.de/10005773949
We develop a version of the differencing specification test which may be used to test models with serially correlated errors. The test is worked out for the general case, and in more detail for the commonly-encountered case of models with AR(1) errors. As an example, the test is applied to a...
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In this paper, the author uses a simple but powerful technique to examine two models of the term structure for an open economy. Cointegration tests using two data sets for Canada and the United States support the open economy model based on uncovered interest parity as an explanation for the...
Persistent link: https://www.econbiz.de/10005604730