Se presenta una visión analítica global de la información de un sistema económico y su modelo de representación econométrico, proyectando nuestro propósito hacia la descripción de elementos, relaciones y procesos presentes en él que, siendo aparentemente completos o incluso inconexos,...

Recently, Vogelsang (1999) proposed a method to detect outliers which explicitly imposes the null hypothesis of a unit root. It works in an iterative fashion to select multiple outliers in a given series. We show, via simulations, that under the null hypothesis of no outliers, it has the right...

We propose residual based tests for cointegration using local GLS detrending (Elliott, Rothemberg and Stock (1996), ERS) to eliminate separately the deterministic components in the series. We consider two cases, one where only a constant is included and one where a constant and a time trend are...

I illustrate the convergence to Rubinstein's (1982) bargaining outcome of the solutions of the finite-horizon truncations of that game. The depiction is new, and hopefully instructive, and has the flavour of international trade diagrams.

OLS estimates of the rate of return to education are subject to a number of potential biases. Recent developments in the literature have focused particularly on exploiting alternative instruments, arising naturally in the data, to counteract these problems. A number of such instrumens are...

The transportation system is a fundamental component of the urban economic development, with its generating feature of negative supply externalities standing out (and, as a result, of the satisfied demand for some kind of this supply’s structure) related to congestion and environmental...

This is an exploratory study that attempts to identify and provide empirical evidence on the possible determinants of the market capitalisation of the Harare Stock Exchange (HSE) with the view of understanding the development prospects of the HSE and other similar markets. The study used...

This paper shows that the behaviour of inventories is not symmetrical and that their modelling requires more than just a linear regression. Models of inventory behaviour are described and symmetric and non-symmetric-error-correction models are formulated which divide the changes in production...