Adaptation factors are not properly involved yet in decision making and not measured regularly in economic terms. In the paper we mean under adaptation cost an opportunity cost which one has to bear using a certain inefficient adaptation system compare to the better system. Adaptation cost as a...

Maastricht is only one catchword which emphasizes the fast growing importance of interactions between economic areas. On the other hand synergetics is one catchword which represents the progress in the exploration of complex, nonlinear, dynamic systems. Here, we make use of one evolution in...

In this paper we prove that every linear model with rational expectations can be transformed by means of an one-to-one mapping into another model which has one of the following properties: i) it is degenerated, ii) it is backward, iii) it has a Blanchard-Kahn form. In addition to some simple...

In auctions of government treasury securities, each bidder is permitted to enter multiple price-quantity bids. Gordy (1996) finds empirical evidence from Portugal's treasury bill auctions that multiple bidding is used more intensively as the potential for winner's curse increases. That is,...

We propose a tractable simplification of Gold's (1965, 1967) inductive inference model based on neural networks. In this way, we can introduce explicitly institutions in a learning model. In particular, the hidden layer of neural network is shown to perform certain functions-data preprocessing...

We analyze cross-sectional patent data using a finite mixed Poisson regression model with covariates in Poisson rates and mixing probabilities. Maximum likelihood estimation based on the EM and quasi-Newton algorithms, a model selection procedure, residual analysis and goodness-of-fit tests are...

Standard System of national accounting (SNA) was desighed and developed for the purpose of mesurement and comparable presentati- on of economic state and activity of different countries and on different levels. It's recognized that despite great importance of the very existance and wordwide...

This paper is concerned with the use of low order linear models to develop controls for large nonlinear macroeconometric models. This contrasts with the usual approach to this class of problems of using nonlinear optimization with the nonlinear model, or Linearization of the model and the use of...

Nonlinear dynamic optimization models are widely used in theoretical and empirical economic modeling, especially in the field of optimal growth and intertemporal macroeconomic modeling. In this paper we present a sequential quadratic programming algorithm for computing directly the steady state...

Asymmetries in price adjustment can reconcile contrasts between rapid price movements in inflationary episodes, consistent with classical theories of flexible pricing, and sluggish price responses in contractions, consistent with Keynesian theories of sticky price adjustments. Both classical and...