Using general to simple methods, J. M. Boughton (1993) develops an econometric model that fits almost as well as Y. Baba, D. F. Hendry, and R. M. Starr (BHS) (1992) but differs in economic implications and dynamic adjustments. He claims the new model is constant, is not encompassed by BHS, but...

An endogenous growth model is presented in which production uses a vector of capital inputs. Technologies for creating capital of different types vary by gestation period and productivity. Ownership of gestating capital must be "rolled over" in secondary capital markets in which transactions are...

This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly observable measure of news shocks about future output ̶ the delay between a discovery and production is on average 4 to 6 years. We first...