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The keen interest of the media, and by extension, the public, in the future of house price growth in the United States centers on the question of whether there is a house price bubble nationally or regionally. Even among those who concede that a bubble per se may not be present, many worry that...
Persistent link: https://www.econbiz.de/10010895739
We consider a bisector reproduction model in which money is introduced as a pure means of exchange issued by a bank at the producers' requests. Each capitalist aims at maximising accumulation in his own sector. Their plans are based on available quantities and expected prices. Effective prices...
Persistent link: https://www.econbiz.de/10010896336
This paper deals with models allowing for trending processes and cyclical component with error processes that are possibly nonstationary, nonlinear, and non-Gaussian. Asymptotic confidence intervals for the trend, cyclical component, and memory parameters are obtained. The confidence intervals...
Persistent link: https://www.econbiz.de/10010898920
equilibrium is always obtained. On the other hand, in the case of an even number of actions, every such game exhibits an infinite … number of Nash equilibria. As a special case, a proof of the uniqueness of the Nash equilibrium for the Rock …
Persistent link: https://www.econbiz.de/10010901393
spaces, there is a simple formula for the cyclomatic number, i.e., the dimension of cycle spaces of a model. We prove that … the cyclomatic number is the minimum number of cycle equations that must be checked to guarantee the existence of a common … prior, and explain why some cycle equations are automatically satisfied. There is an isomorphism taking cycles into cycle …
Persistent link: https://www.econbiz.de/10010875257
This paper deals with models allowing for trending processes and cyclical component with error processes that are possibly nonstationary, nonlinear, and non-Gaussian. Asymptotic confidence intervals for the trend, cyclical component, and memory parameters are obtained. The confidence intervals...
Persistent link: https://www.econbiz.de/10010821058
Equilibrium determines leverage, not just interest rates. Variations in leverage cause fluctuations in asset prices …. This leverage cycle can be damaging to the economy, and should be regulated. …
Persistent link: https://www.econbiz.de/10008605815
clusters could disconnect their cycle from the cycle of technologies, in order to insure their long term viability. For that … pathways of clusters.We show that clusters succeed in disconnecting their cycle from the cycle of technologies if and only if … they display resilience properties. Key-words : cluster, cycle, location externalities, knowledge, structural properties …
Persistent link: https://www.econbiz.de/10011332289
wetlands. It is shown that in many (but not all) directed networks, there exists an equilibrium, sometimes socially desirable …
Persistent link: https://www.econbiz.de/10010272372
Milton Friedman's contributions to and influence on macroeconomics are discussed, beginning with his work on the consumption function and the demand for money, not to mention monetary history, which helped to undermine the post World War 2 Keynesian consensus in the area. His inter-related...
Persistent link: https://www.econbiz.de/10010291906