There are many events in the real world that are far from random. If we could assign significance levels to them based on a rigorous random model, such p-values must be very small indeed. Why should we be interested in such small numbers? Basically because the number -log(pval) is an estimate of...

This paper presents tests of the Cagan hyperinflation-money demand model which have several advantages relative to those in the literature. They do not confound specification error and rational bubbles, are implementable with a linear procedure, and are frequently able to detect the periodically...

Following recent work by Franses, Hylleberg and Lee (FHL), this paper analyzes the consequences of fitting a deterministic seasonal model to a quarterly time series which can be (at least approximately) described with a seasonal unit root(s) model. Besides the distribution of the coefficient of...