We outline in turn criticisms made by econometricians of the methods used in empirical business-cycle research and then criticisms made by business-cycle researchers of some methods used by econometricians. The aim is to clarify and in some cases correct these criticisms. Overall there is no...

We outline in turn criticisms made by econometricians of the methods used in empirical business-cycle research and then criticisms made by business-cycle researchers of some methods used by econometricians. The aim is to clarify and in some cases correct these criticisms. Overall there is no...

Time-series work on trade policy and growth is handicapped by the difficulty of measuring 'trade policy'. Established definitions of trade orientation such as 'bias' or the 'effective rate of protection' are difficult to operationalise in a time-series context because of enormous data...

We propose a simultaneous model specification procedure for the conditional mean and conditional variance in nonparametric and semiparametric time series econometric models. An adaptive and optimal model specification test procedure is then constructed and its asymptotic properties are...

Increases in international merchandise trade plus growth in the northern Mexico maquiladora sector have caused the volume of cargo vehicle flows through border metropolitan areas to expand in recent decades. To examine whether the trends associated with these developments can be successfully...

Despite their obvious importance, not much marketing research focuses on how business-cycle fluctuations affect individual companies and/or industries. Often, one only has aggregate information on the state of the national economy, even though cyclical contractions and expansions need not have...

This paper tests between fads and bubbles using a switching regression to distinguish between competing models. Two main features of the bubbles model distinguish it from the fads model. First, the bubbles model implies that returns are drawn from regimes which differ in the way returns vary...

A commonly encountered problem in empirical research involves the choices researchers have to make with respect to data, research methodologies, and/or econometric estimation techniques. In many cases researchers are having to make these choices with less than perfect information. In such cases,...

This paper revisits an early econometric debate on pricing dynamics using modern time-series econometric techniques. This debate is a particularly interesting case because it is the only occasion in which excess demand and nonmainstream pricing hypotheses, emphasized in Post Keynesian economics,...