In this paper we apply the wavelets methodology to the analysis business cycle fluctuations. The analysis is performed using the industrial production index in 6 developed countries between 1960-2002. We produce an orthogonal decomposition of industrial output series by time scale over six...

It is routine to demonstrate in the exchange economy framework that small changes of individual preferences and endowments always result in small changes of the derived excess demand functions as one should expect. Though being as desirable for reasons of the consistency of the whole approach,...

This note advances a family of poverty measures, Πα, which are derived as simple, normalized Minkowski distance functions. The Πα indices turn out to be the ?th roots of the corresponding Foster, Greer and Thorbecke P? indices. The re-calibration of P? terms of ?? could have certain possible...

This paper addresses the interplay between economic growth, energy use, change in sectoral composition and technological change, by exploring trends in energy- and labour productivity development for 14 OECD countries and four sectors over the period 1970-1997. A cross-country decomposition...

This paper argues that path dependency in Oaxaca-Blinder decomposition procedures should not be considered as a limitation and provides valuable information. Illustration is given for the evaluation of racial discrimination on health in South Africa for 1999

We implement a multifrequency volatility decomposition of three exchange rates and show that components with similar durations are strongly correlated across series. This motivates a bivariate extension of the Markov-Switching Multifractal (MSM) introduced in Calvet and Fisher (2001, 2004)....

In this paper, we propose a decomposition technique to examine the sources of industrial contribution to aggregate labour productivity growth. We show that in terms of pure labour productivity growth, the manufacturing and service sectors contributed equally to the aggregate Canada-U.S. labour...