Diffusion of knowledge capital and its impact on economic growth are discussed empirically for the case of South Korea (1971-1994).

The diagnostic tests of time deformation presented by Stock are applied to UK output. In contrast to previous findings, significant evidence of time deformation is detected. It is shown that the success of this analysis is due to closely following the approach outlined in the seminal work of...

The reported study analysed interdependence among stock prices in G7 countries using the LA-VAR method. Monthly data for the period from December 1969 to May 1995 were used and stock prices were analysed not only in local currencies but also in US dollars. The study revealed that the causal...

This note examines several alternative specifications of the consumer's intertemporal budget constraint and shows that while different specifications give the same first-order conditions, they produce different results with respect to measures of wealth and saving and hence consumption when...

The paper studies the effect of price-cap regulation on the research behaviour of a regulated firm and an external developer who are pursuing an uncertain innovation. Contributions of this work include incorporating innovation uncertainty and imperfect appropriability of innovation rewards into...

Following Holly and Stannett, a standard approach has emerged in the implementation of Sichel's tests of business cycle asymmetry, whereby seasonally adjusted data is detrended via Hodrick-Prescott filtering. While Speight and MacMillan have considered the impact of alternative methods of...

Changes in poverty in Papua New Guinea during the 1990s adjustment programme are analysed. Data from urban household surveys in 1986 and 1996 are used to calculate the change in the incidence, depth and severity of poverty. The change in poverty rates is decomposed into distribution and growth...

The cointegrated nature of UK consumption and income is examined using 'official' seasonally adjusted data and data which have been seasonally adjusted using an alternative well-established method. It is found that the presence of cointegrating relationship is dependent upon the method of...

The sizeable literature on extinction in economics has paid scant attention to the problem of constructing measures of species extinction. Moreover, this literature has not studied the question of species extinction in stochastic systems that are jointly determined. Consequently, the objective...