This paper is an exercise in dating the Euro area business cycle on a monthly basis. Using a quite flexible interpolation routine, we construct several monthly series of Euro area real GDP, and then apply the Bry-Boschan (1971) procedure. To account for the asymmetry in growth regimes and...

This paper studies the sequential sampling scheme as a solution to the problem of aliasing, where the sampling interval is restricted to a minimum allowable value. Sequential sampling is analyzed and it is proved that when the sampling ratio is an integral number, the associated spectral...

This paper is a study of the history of the transplant of mathematical tools using negative feedback for macroeconomic stabilization policy from 1948 to 1975 and the subsequent break of the use of control for stabilization policy which occurred from 1975 to 1993. New-classical macroeconomists...

This paper is a study of the history of the transplant of mathematical tools using negative feedback for macroeconomic stabilization policy from 1948 to 1975 and the subsequent break of the use of control for stabilization policy which occurred from 1975 to 1993. New-classical macroeconomists...

A crisis is but a crisis when the long run outlook is definitively positive. Then a lower turning point must exist. This implicates a vision or, in the ideal case, a formalized theory of the money economy’s possible end states. This theory has to provide an endogenous explanation of end states...

In the article it is shown that current definitions of economic recessions are unsatisfactory. NBER definition of an economic recession is only qualitative, so it does not enable identifying recession unequivocally. Another often used ‘technical definition’ of a recession takes into account...

This paper is an exercise in dating the Euro area business cycle on a monthly basis. Using a quite flexible interpolation routine. we construct several monthly series of Euro area GDP, and then apply the Bry-Boschan (1971) procedure. To account for the asymmetry in growth regimes and duration...

This book is about the construction of reality. The central aim of this study is to understand how gravity works and how it may be focused and manipulated. While I do not have an answer to this question, the discoveries along the way have been worth collecting into a single volume for future...

We consider mandatory components of the economic theory: two scales and four dimensions composed by collective agent’s economic variables, transactions and expectations and by the economic policy. We consider all economic variables, transactions and expectations on an equal footing and don’t...

Hamilton (2018) argues that one should never use the Hodrick-Prescott (HP) filter to detrend economic time series and proposes a new regression-based approach. This comment shows that this alternative shares the main drawbacks Hamilton finds in the HP filter: filter-induced dynamics in the...