The errors in the linear models which are used so widely by economists may be generated by mixed moving-average autoregressive processes. If errors on an aggregative equation are generated by a mixed moving-average autoregressive process and the weights of the moving-average component of this...

The need for careful specification in econometric analyses is well-known. If some component of a particular specification is incorrect, then conventional inferential procedures may be invalid. In particular, the presence of autocorrelation in linear economic models may lead to the use of...

In a recent paper, we discussed the possible availability of prior information with respect to the source of the moving-average components of mixed moving-average autoregressive processes in the context of empirical investigations of wage-determination. The earlier discussion of this...

The problems of seasonal adjustment and other forms of prior adjustment have seldom been integrated into a general framework of estimation. A well-known result, due to Frisch and Waugh, has been used to demonstrate how linear seasonal influences might be treated in the context of the general...

In this paper, an approximation is suggested whereby the alternative C.E.S. form can be fitted as a number of additional corrections to the final expression associated with the Cobb-Douglas form. Some numerical results are tabulated, and these indicate that, for the British Economy at least, the...

As demonstrated in a recent paper, quarterly models of wage determination are highly sensitive, both with respect to parametric estimates and statistical inferences, to the specification of institutional features in the labour market. In the context of these sensitivities, this paper attempts to...

In his A.E.A. Presidential Address, Tobin points out that due to the continuing controversy over the concept of a stable Phillips curve, the institutional features of the labour market have been largely ignored. Hence, the purpose of this paper is twofold: (1) to present an analytical framework...

Economists are frequently compelled to use data which take inappropriate forms. One particular deficiency is discussed in the paper below; namely, the prior adjustment of economic time-series by moving average transformations. This discussion is restricted to regression analyses and data which...