Results 231 to 240 of about 2,320 (298)

How Are “Financial Balances” Financed? Wicksell, (Keynes) and the US Mainstream Don't Fit Today's Institutions; Kalecki, Triffin, and Minsky Got it Right

open access: yesMetroeconomica, EarlyView.
ABSTRACT The paper examines the financial balances of the US economy. Government is the main borrower and households and the foreign sector the main lenders. Business net lending is minimal. The balances and their underlying transactions contradict the loanable funds theory and its “global savings glut” variation.
Michalis Nikiforos, Lance Taylor
wiley   +1 more source

Inference on the Attractor Space via Functional Approximation

open access: yesOxford Bulletin of Economics and Statistics, EarlyView.
ABSTRACT This paper discusses semiparametric inference on hypotheses on the cointegration and the attractor spaces for I(1)$$ I(1) $$ linear processes with moderately large cross‐sectional dimension. The approach is based on sample canonical correlations and functional approximation of Brownian motions, and it can be applied both to the whole system ...
Massimo Franchi, Paolo Paruolo
wiley   +1 more source

Forty Years of Empirical Evidence of Cointegration and Nonlinear Equilibrium Correction in UK Money Demand Since the XIXth Century

open access: yesOxford Bulletin of Economics and Statistics, EarlyView.
ABSTRACT Since the seminal contributions of Friedman and Schwartz and of Hendry and Ericsson, instability in money demand has remained a central issue in the literature. This study broadens and generalizes the first evidence for the United Kingdom of stable long‐ and short‐run broad money demand extending back to the nineteenth century. Using nonlinear
Álvaro Escribano   +2 more
wiley   +1 more source

A Hundred Thousand Darlingtons: Self‐Respect, Moral Judgement, and the Right to an Equal Democratic Say

open access: yesAnalytic Philosophy, EarlyView.
ABSTRACT I defend the non‐instrumentalist thesis that every adult member of a political society has a pro tanto fundamental moral right to an equal democratic say in determining the content of the laws to which she is subject. I begin by giving an account of an important kind of servility that has received only glancing notice in philosophical ...
Shruta Swarup
wiley   +1 more source

Using Local Expert Knowledge to Measure Prices: Evidence From a Survey Experiment in Vietnam

open access: yesReview of Development Economics, EarlyView.
ABSTRACT Many countries lack spatially disaggregated consumer price data needed to estimate real inequality and spatial patterns of poverty. Such data are especially absent in poor countries where weak infrastructure and high transport costs create large price variation over space.
John Gibson, Trinh Le
wiley   +1 more source

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