In many economic and social contexts, individual players choose their partners and also decide on a mode of behavior in interactions with these partners. This paper develops a simple model to examine the interaction between partner choice and individual behavior in games of coordination. An...

In this paper a likelihood-based multivariate unit root testing framework is utilized to test whether the real exchange rates of G10 countries are non-stationary. The framework uses a likelihood ratio statistic which combines the information across all involved countries while retaining...

This paper revisits inflation forecasting using reduced form Phillips curve forecasts, i.e., inflation forecasts using activity and expectations variables. We propose a Phillips curve-type model that results from averaging across different regression specifications selected from a set of...

Jan Tinbergen was the first Nobel Laureate in Economics in 1969. This paper presents a brief survey of his many contributions to economics, in particular to macro-econometric modelling, business cycle analysis, economic policy making, development economics, income distribution, international...

It is generally believed that index decomposition analysis (IDA) and input-output structural decomposition analysis (SDA) (Rose and Casler, 1996; Dietzenbacher and Los, 1998) are different approaches in energy studies; see for instance Ang, Liu and Chung (2004). In this paper it is shown that the...

We discuss how prior regression on seasonal dummies leads to singularities in periodogram regression procedures for the detection of long memory. We suggest a modified procedure. We illustrate the problems using monthly inflation data from Hassler and Wolters (1995).

Our aim is to give a simple view on the basics and applications of convex analysis. The essential feature of this account is the systematic use of the possibility to associate to each convex object---such as a convex set, a convex function or a convex extremal problem--- a cone, without loss of...

Most maintenance-optimisation models assume an infinite planning horizon and suppose that the failure process is stationary. Hence, information which is not known beforehand and which becomes available on the short term only, must be ignored. We consider in this paper a multi-component system...

We propose to estimate the economic cost for Palestine and for Palestinian residents due to the lack of peaceful resolution with Israel. Thereto we make use of the consensus estimates of the International Monetary Fund (IMF) and the World Bank (WB) of real growth rates of economic variables and...

This paper reports on simulation results for the Wald test for ï¡1=ï¡2=0 in the regression model for the case ï« is known and for the case where ï« has to be estimated using nonlinear least squares (NLS). This last situation is not standard, and we therefore provide critical values for...