Consistency, a natural weakening of transitivity introduced in a seminal contribution by Suzumura (1976b), has turned out to be an interesting and promising concept in a variety of areas within economic theory. This paper summarizes its recent applications and provides some new observations in...

This paper develops a model where the value of the monetary policy instrument is selected by a heterogenous committee engaged in a dynamic voting game. Committee members differ in their institutional power and, in certain states of nature, they also differ in their preferred instrument value....

This paper studies testing for a unit root for large n and T panels in which the cross-sectional units are correlated. To model this cross-sectional correlation, we assume that the data is generated by an unknown number of unobservable common factors. We propose unit root tests in this...

This Paper Goes Against the Current That, When Price Ae Determined From a Markup, Labor Is the Main Cause for Inflation. It Will Be Shown on the Contrary That Capital, Under Its Physical Anf Financial Form, Is the Main Culprit for Inflation. the Main Hypothesis to Be Tested Is That in Time of...