This paper uses a unique micro data set of price records underlying the Barbados retail price index between 1994 and 2008 to provide a detailed assessment of consumer price rigidity. The major aim is to calculate price durations and the patterns of price-setting across sectors. We also check...

This work studies the significance of the social costs generated by the dynamic inconsistency of the decisions taken by the politicians in Puerto Rico. The dynamic inconsistency problem arises when the government makes sequential decisions that compromise its future actions. The same one affects...

Ten years ago we presented a modified version of Okun’s law for the biggest developed economies and reported its excellent predictive power. In this study, we revisit the original models using the estimates of real GDP per capita and unemployment rate between 2010 and 2019. The initial results...

This paper estimates trade-demand functions for Germany from monthly data covering the period 1959-1988. It is assumed that these trade-demand functions have the form of the Linear Expenditure System, generated by a shifted Cobb-Douglas trade-utility function in which the shift parameter is...

The mysterious and relatively less predictable cyclical fluctuations are known as ‘Business Cycle’ – one of the blackist in many black boxes in Economics. The patterns and ordering of the cyclical effects may vary for different economies. They depend on the socio-economic and political...

Recent academic studies have shown that since the mid-nineties, the passthrough of exogenous oil shocks into headline inflation has been increasing while the passthrough into core inflation seems to have ceased. This paper explores the implications in term of commodity allocation for inflation...

Gone are the days when inflation fears had receded under years of 'Great Moderation' in macroeconomics. The US subprime financial crisis, the ensuing 'Great Recession' and the sovereign debt scares that spread throughout much of the industrialized world brought about a new order characterized by...

The need for effective supervision of capital markets is becoming all the more evident in the aftermath of the recent LIBOR and rate rigging scandals. Financial regulators or indeed bank regulators cannot perform such a function effectively without the involvement of auditors in the supervisory...

This volume – Predicting Crisis: Five Essays on the Mathematic Prediction of Economic and Social Crises – is the first of three sets of essays. In this first set the economic and social history of the United States is shown to be a “system of movement,” i.e. a logical and mathematic...

Gone are the days when inflation fears had receded under years of “Great Moderation” in macroeconomics. The US subprime financial crisis, the ensuing “Great Recession” and the sovereign debt scares that spread throughout much of the industrialized world brought about a new order...