Deficits should Granger-cause inflation in developing countries since the central banks are not autonomous. Nevertheless, our empirical results refute the causality between government deficits and inflation in a study of ten developing countries.

In this paper the implications of unemployment on labour supply and goods demand functions in Spain are analysed during the period 1964-91. To this end, the labour supply and goods demand is jointly modelled using a dynamic linear expenditure system under the condition that labour supply has...

The (S,s) model of inventories is a robust alternative to production smoothing theories. Despite the apparent usefulness of the model, exhaustive testing has been lacking in the literature. This note employs a recently published econometric methodology to test the (S,s) model and provide...

The Ricardian equivalent theory is examined by dichotemizing the total US federal budget deficit into its structural (exogeneous) and cyclical (endogeneous) components. The former is hypothesized to be the expected, planned deficit, whereas the latter is viewed as the unpredictable, unplanned,...

This paper examines the responses of share prices in Belgium, Britain, France and Germany to the influences of major international share markets, domestic output and interest rates. The empirical results of the study indicate positive and significant responses of share prices to movements of...

This paper considers the dynamics of the OECD macroeconomic forecasts for Greece. A Geometric Distributed Lags model is used to study the dynamic responses between the actual data and the forecasts supplied by OECD the last 15 years.

Social scientists have long maintained an interest in the socioeconomic underpinnings of marital formation. Considerable research has focused on patterns of spouse selection which tend to pair individuals of like characteristics. One area which invites more research involves assortative mating...

Evidence is presented in favour of a Fisher effect between treasury bill interest rates and inflation in Mexico between 1978-94. The two series appear to be cointegrated and a unit proportional relationship between them would appear to exist such that treasury bills rates respond fully to...

Leybourne and McCabe have extended the Kwiatkowski et al. stationarity test to examine the null hypothesis of cointegration. The purpose of this note is to provide an extended set of critical values for use in applied research.

The present provides alternative specifications for public choice models that analyse the determinants of a variety of in-kind efforts to obtain monopoly rights (or rent-seek). A variable relating to the age of states in the USA provides suggestive empirical evidence of the importance of...