The paper uses a panel vector autoregression approach to analyze the dynamics of the transition of investment to shocks to fundamental and financial factors in emerging market economies. By relying on a panel of thirty-one emerging economies and quarterly frequency data for the period...

This study compares the emergence of four wireless clusters in the 1970s and 1980s. Two of them, Calgary in Canada and Finland, initially pursued rather similar service innovations for not very different markets but with very different outcomes, which raises the question why. One major reason...

Recently housing markets have played a crucial role in macroeconomic developments. Optimistic housing markets have contributed to sustained economic activity in most OECD countries during the first years of the 2000s. Nevertheless many markets overheated and the collapse of the US subprime...

This presentation deals with innovation in teaching and understanding of thermodynamic principles. Key features of the approach being advocated are: (a) postulation of the existence of entropy, (b) explicitly associating energy transfers with other transports, (c) stating the 2nd Law in terms of...

Using Australian capital city data from 1984Q3-2008Q2, this paper utilizes a dynamic present value model within a VAR framework to construct time series of house prices depicting what aggregate house prices should be given expectations of future real disposable income – the ‘fundamental...