Immediately after 1997 the Asian economies were viewed to be catastrophes of financial excess, corporate and political misgovernance, and diminishing returns to over-investment. But they are now freshly restored as the world’s economic powerhouses, just as before the 1997 financial crises they...

This paper explores an econometric estimation technique for dynamic linear models. The method combines the analytics of moving average solutions to dynamic models together with computational advantages of the Whittle likelihood. A hypothesis of interest to international and financial economists...