The main objective of this paper is to provide a new insight into the possibility of monopolising a three-firm industry through acquisition of rivals in the absence of restrictions imposed by the antitrust authorities. The dynamic model of monopolisation under Cournot-type rivalry among...

In a framework of hardware–software paradigm with network externality, this study analyses the resource allocation problem of a hardware firm, which is developing a new hardware system. By formulating a dynamic model of quality choice, this study shows that firm's long-run profit is...

Free-piston engines are under investigation by a number of research groups worldwide, as an alternative to conventional technology in applications such as electric and hydraulic power generation. The piston dynamics of the free-piston engine differ significantly from those of conventional...

This paper tests the robustness of the Environmental Kuznets Curve (EKC) hypothesis, using dynamic model specification for the long panel data set rather than static model. The monotonic income-CO<SUB align="right">2</SUB> emission relationship exists in most of the underdeveloped or developing economies, but EKC exists...</sub>

Estimates of the NAIRU are usually derived either from a Phillips curve or from a wage curve. This paper investigates the correspondence between the operational NAIRU-concepts and the steady state of a dynamic wage-price model. We derive the parameter restrictions that secure that...

The paper describes the influx of mathematical statistics in economics. It focuses on an approach to macroeconometric modelling which is based on fundamental statistical concepts like the joint distribution function of all observable variables for the whole sample period. The methodology relies...

UK inflation varied greatly over 1865-1990, in response to many policy and exchange-rate regimes, two world wars and oil crises, and major legislative, and technological changes. It is modelled as responding to excess demands from all sectors of the economy: goods and services, factors of...

Estimates of the NAIRU are usually derived either from a Phillips curve or from a wage curve. This paper investigates the correspondence between the operational NAIRU-concepts and the steady state of a dynamic wage-price model. We derive the parameter restrictions that secure that...

Inflation targeting makes the Central Bank's conditional inflation forecast the operational target for monetary policy. Successful inflation targeting requires knowing the transmission mechanisms to inflation from shocks as well as instruments. The econometric implications are that the...

Linear dynamic equilibrium correction mechanisms are shown to follow from the discretisation of continuous economic processes with steady-state solutions. In addition, the proposed procedure provides testable restrictions on the coefficients of the dynamic econometric model.