In this paper we first estimate the growth rates of real per capita GDP, real per capita Consumption, and Productivity (real GDP per worker) for the following panels of countries: (1) OPEC countries, (2) industrialized countries, and (3) based on geographic location. We then test for a...

Using recent data, this paper investigates whether changes in oil prices have the expected effects on the US economy. Cointegration analysis and vector error correction models are employed in order to evaluate the impact of changing oil prices on US output and inflation. Further, impulse...

In this paper cointegration analysis is used to examine the long-run relationship between money, prices, output, and interest rates. This paper finds convincing evidence in support of the quantity theory of money using time series data from the United States.

In this paper cointegration analysis is used to examine the long-run relationship between money, prices, output, and interest rates. This paper finds convincing evidence in support of the quantity theory of money using time series data from the United States.

This paper investigates the performances of GMM estimates using kernel methods with and without prewhitening and the VARHAC method in a representative agent exchange economy. A Monte Carlo study is conducted to evaluate the issues of estimating the spectral density functions, e.g., parametric...

This paper investigates the performances of GMM estimates using kernel methods with and without prewhitening and the VARHAC method in a representative agent exchange economy. A Monte Carlo study is conducted to evaluate the issues of estimating the spectral density functions, e.g., parametric...