The stochastic simulation model suggested by Bolder (2003) for the analysis of the federal government's debt-management strategy provides a wide variety of useful information. It does not, however, assist in determining an optimal debt-management strategy for the government in its current form....

Income distribution data from before the Industrial Revolution usually comes in the shape of social tables: inventories of a range of social groups and their mean incomes. These are frequently reported without adjusting for within-group income dispersion, leading to a systematic downward bias in...

The note focuses on the marginal rates of substitution (MRS) in Nash's product formula solution to bargaining and why the formula works. Two simple examples from duopoly and bilateral monopoly are used to demonstrate that the MRS's for both players are implicitly in the contract curve and the...

The growth or decline of a region depends on its power to pull and retain both business and the right blend of people to run them. This pulling power depends on what we call the Image of the region, a variable which expresses the region's present state of development and future prospects and may...

This paper has developed a solution algorithm for linear rational expectation models under imperfect information. Imperfect information in this paper means that some decision makings are based on smaller information sets than others. The algorithm generates the solution in the form of k_t+1 =...

Understanding the exact connection between inequality and justice is important because justice is classically regarded as the first line of defense against self-interest and inequality. Absent a strong and clear link between inequality and justice, the sense of justice would not awaken to exert...

We develop a measure of overall financial risk in China by applying machine learning techniques to textual data. A pre-defined set of relevant newspaper articles is first selected using a specific constellation of risk-related keywords. Then, we employ topical modelling based on an unsupervised...

This paper verified the predictive performance of probabilistic record linkage algorithms for the integration big sized real databases, evaluating the effects of the blocking key definition, as well as string metric functions and phonetic code pairing algorithms with respect to the prediction's...

Wavelet analysis, although used extensively in disciplines such as signal processing, engineering, medical sciences, physics and astronomy, has not yet fully entered the economics discipline. In this discussion paper, wavelet analysis is introduced in an intuitive manner, and the existing...