Sir Richard Stone, knighted in 1978 and Nobel Laureate in Economics in 1984, is one of the pioneering architects of national income and social accounts, and is one of the few economists of his generation to have faced the challenge of economics as a science by combining theory and measurement...

This paper considers the solution of multivariate linear rational expectations models. It is described how all possible classes of solutions (namely, the unique stable solution, multiple stable solutions, and the case where no stable solution exists) of such models can be characterized using the...

This paper addresses two related issues in the literature of non-nested hypotheses testing. Firstly, by means of a measure of “closeness” of probability density functions, it shows how <italic>any</italic> two hypotheses can be placed into the nested and the non-nested categories with the latter category...