The efficient markets hypothesis provides a theoretical basis on which technical trading rules (TTRs) are rejected as a viable trading strategy. TTRs, providing a signal to the user when to buy or sell asset based on such price patterns, should not be useful for generating excess returns....

An analytically tractable model of a competitive, full-information economy is provided in which, for some parameter values, entry and exit over the course of the business cycle is concentrated among small firms. This model is intended to make the logical point that the relatively high...

Housing economists have questioned whether current US tax and government mortgage policy actually fosters homeownership. In this paper we examine this question interms of a dynamic general equilibrium model with heterogeneous agents. The model allows households to make saving and shelter...

The Efficient Markets Hypothesis provides a theoretical basis for trading rules. Technical trading rules provide a signal of when to buy or sell an asset based on such price patterns to the user. Technical traders tend to put little faith in strict efficient markets. Fundamentalists rely on...