Several semiparametric estimates of the memory parameter in standard long memory time series are now available. They consider only local behaviour of the spectrum near zero frequency, about which the spectrum is symmetric. However, long-range dependence can appear as a spectral pole at any...

Band spectrum regression is considered for cointegrated time series with long memory innovations. The estimates we advocate are shown to be consistent when cointegrating relationships among stationary variables are investigated, while OLS are inconsistent due to correlation between the regressor...

It is pointed out that two contradictory definitions of fractional Brownian motion are well established, one prevailing in the probabilistic literature, the other in the econometric literature. Each is associated with a different definition of nonstationary fractional time series. These various...

his paper deal with aggregation of AR(1) micro variables driven by a common and idiosyncratic shock with random coefficients. We provide a rigorous analysis, based on results on sums of r.v.'s with a possibly finite first moment, of the aggregate variance and spectral density, as the number of...

Weak convergence to a form of fractional Brownian motion is established for a wide class of nonstationary fractionally integrated multivariate processes. Instrumental for the main argument is a result of some independent interest on approximations for partial sums of stationary linear vector...

The concept of cointegration has principally been developed under the assumption that the raw data vector zt is I(1) and the cointegrating residual et is I(0), but is also of interest in more general, including fractional, circumstances, where zt is stationary with long memory and et is...

'Where feudalism ends, the capitalist regime commences.' This familiar and prima facie self-evident statement is the proposition which I want to examine in this paper. I would argue as follows: Even given the uniformity of feudalism everywhere in the world (i.e. if it has always appeared in its...

This paper analyses accounting accruals that may relate to earnings quality and its information content. The characteristics specifying earning quality are discussed according to research surveys of earnings quality. These are compared with the characteristics of accounting income specified by...

The paper by Richard J Smethurst discusses the influences that led to the economic policies pursued in the interwar period by Takahashi Korekiyo, who engineered Japan's recovery from the depression in the early 1930s, and is often thought of as the 'Keynes' of Japan. The paper traces the...

The paper by Masato Kimura seeks to clarify the contributions and limitations of Japanese business diplomacy by looking at the business mission to Britain and the US in 1921-22, and the Japanese Economic Mission to Europe and the United States of 1937. The paper argues that Japanese business...