The paper discusses some of the problems of subsistence agriculture in countries in transition and proposes a methodology for analysis. It demonstrates that approaches which ignore the dualistic agriculture structure cannot provide consistent estimates of the behavioural parameters of the total...

This study investigates the performance of various commonly applied order selection criteria in selecting order of Autoregressive (AR) process. The most important finding of this study is that Akaike’s information criterion, Schwarz information criterion, Hannan-Quinn criterion, final...

The paper demonstrates the effects that the largely ignored, phenomenon of subsistence farming can have on agricultural development in countries in transition. The problem of subsistence consists of the different economic behaviour of subsistence farms compared to commercial ones. The paper...

Existence theory in economics is usually in real domains such as the findings of chaotic trajectories in models of economic growth, tâtonnement, or overlapping generations models. Computational examples, however, sometimes converge rapidly to cyclic orbits when in theory they should be...

We characterize the balanced growth path of the basic neoclassical growth economy using standard numerical solution methods which solve a linear or log-linear approximation to the economic model, as well as methods which preserve the nonlinearity in the original model. We also apply the same...

Recently David Laibson (1998) and others have argued in favor of using hyperbolic discount functions. The purpose of this paper is to investigate whether conventional wisdom, based on the standard model with exponential discounting, also holds in the case where consumers have hyperbolic discount...

In this paper, we show how to derive the spectra and cross-spectra of economic time series from an underlying econometric or VAR model. This allows us to conduct a proper frequency analysis evaluation of economic and financial variables on a reduced sample of data, without it being ruled out by...

We present a study where wavelet approximation techniques and some related computational algorithms are applied to non-stationary high frequency financial times series. Wavelets represent a novel instrument as far as concerned applications in the finance setting, but have a great relevance in...

This paper derives analytical expressions for the score of the APARCH model of Ding et al. (1993). Interestingly, doing so we derive the analytical score of a broad range of GARCH model since the APARCH model nests at least seven specifications. The use of the APARCH model is now widespread in...