In applied work in macroeconomics and finance, nonoptimal infinite horizon economies are often studied in which the state-space is unbounded. Important examples of such economies are single-sector growth models with production externalities, valued fiat money, monopolistic competition, and/or...

This paper argues the fact the empirical evidence on persistence is mixed is not very surprising, as economic theory is bound to be drawn upon in order to specify the statistical model. This is illustrated in two ways. Firstly, we highlight the fact that concept of persistence is model...

This article focuses on applied general equilibrium models and explores main features of these models. Examples of successful applications of these models are demonstrated and appropriateness of the applied computable general equilibrium models in policy evaluation is assessed. Conditions of...

In applied work in macroeconomics and finance, nonoptimal infinite horizon economies are often studied in which the state-space is unbounded. Important examples of such economies are single-sector growth models with production externalities, valued fiat money, monopolistic competition, and/or...

This paper analyzes the dynamics in employment and informal care outcomes of women in England. To this end, we develop a dynamic model to describe pathways leading to a negative correlation between informal care and employment in a cross-section. The model allows for different types of...

For financial risk management it is of vital interest to have good estimates for the correlations between the stocks. It has been found that the correlations obtained from historical data are covered by a considerable amount of noise, which leads to a substantial error in the estimation of the...

The author offers a set of tools of how the applied multi-sectoral forecasts for regional development, which provide better opportunities to analyze the forecasts of the regional structure of natural and financial indicators, could be substituted for continuous time models. As our calculations...