This paper considers the distribution of coalitional influence under probabilistic social choice correspondences, which are randomized social choice rules that map each combination of a preference profile and a feasible subset of the universal set to a social choice lottery over the subsets of...

The endogeneity of equilibrium strategies makes modelling uncertainty about the behaviour of other economic players difficult. Recent developments in decision and game theory offer an opportunity to include strategic uncertainty as an explanatory variable in economic analysis. This paper...

This paper evaluates the predictive powerof the term structure of short-temr interest rates in the Tokyo money market. The econometrics show tha the information contained in yield spreads affects the average short-term interest rates up to only three months at best. In addition, few 'settlement...

The effects of removing the German coal subsidy and of introducing a carbon tax are explored using a single country, static computable general equilibrium model.

In this paper we consider the problem of testing the null hypothesis that a series has a constant level against the alternative that the level follows a random walk. This problem has previously been studied by inter alia, Nyblom and Makelainen in the context of the orthogonal random walk plus...

The Almost Ideal Demand System can be made integrable by a slight change in its specification.

We examine the empirical impact of FDI and neighbourhood spillover on regional income convergence via technology diffusion in the Pacific Basin. The capacity of parametric estimation to trace the evolution of economies is found wanting as it conceals this evolution by averaging across economies.

We show that changes in the innovation covariance matrix of a vector of series can generate spurious rejections of the null hypothesis of co-integration when applying standard residual-based co-integration tests. A bootstrap solution to the inference problem is suggested which is shown to...

Using a finite-horizon general equilibrium model with uncertainty and money, we characterize situations where tax arbitrage opportunities may arise for internatioanl portfolio investors in an economy with heterogeneous capital income taxation when there is some scope to evade taxes on foreign...