Threshold models have been found useful in modeling nonlinearities in many financial time series. In this framework, the financial variable of interest evolves according to different dynamics, which is solely determined by the threshold regimes that the observed indicator variable falls into....

This review argues that Allan Meltzer's account of the Fed. between 1913-1951 complements Friedman and Schwartz's in their Monetary History. Meltzer emphasises policy making within the System, rather than the evolution of the money supply and its effects on the economy. He stresses the...

Price manipulation in financial markets is a prohibited activity, but identifying it is a problem in thinly traded securities markets. One service that clients expect of a portfolio manager is to provide up-to-date valuations. Actions to obtain these valuations are regarded as proper by the...

In a simple three-factor-two-final-good formulation (two factors immobile and sector-specific), a well-known result under competitive and full-employment assumptions is that a partial tax on the mobile factor in either industry hurts that factor everywhere. It can be reversed, however, when the...