The economy often moves in large jumps. For example, bank runs can quickly cause an economy to suddenly drop into a deep recession. In this paper, bank approval of loans to a genius entrepreneur may cause an economy to jump to a higher income level or growth rate. In a simple model, this implies...

This is a theoretic and econometric assessment of Peter Ferderer’s seminal paper published in the Journal of Post Keynesian Economics with the same title in 1993. New data shows that high forecaster discords coincide with a decrease in Investment expenditure. Specifically, the forecaster...

Immigration has been a significant part of US population growth over recent decades, with the number of ``foreign born to non-US nationals" rising from approximately 10 million in 1970 to nearly 40 million or 12.9% of the US total population in 2010. In this paper, using a VAR with sign...

I have been invited to write an essay for The American Economist on my experiences as founder and editor of the Cambridge University Press journal, Macroeconomic Dynamics. I have decided to focus the essay on my experiences in starting up the journal. Few economists, who have not themselves...

In recent papers it is shown that in the presence of price stickiness, investment and capital accumulation activity, active monetary policy (MP) rules can lead to indeterminacy under various assumptions about the structure of the model. We analyze the conditions for real indeterminacy to occur...

The research in this paper is focus on macroeconomic analysis of trade and other relevant indicator for real economy such as government net debt, exchange rate, interest rate, and especially the correlation between trade and growth. Today is widely accepted that openness of counties have...

Article introduces the notion of information money fields of the cyclic oscillations of the economic variables in the nonlinear dynamic economic system for the first time, and presents an original research on the Ledenyov theory on the information money fields of the cyclic oscillations of the...

This paper is simply a user manual of un APP that simulates the widely used Macroeconomic Models.

As a burgeoning capital market in an emerging economy, automation of the stock market is regarded as a major step towards integrating the financial market as a conduit for economic growth. The automation of the Ghana Stock Exchange (GSE) in 2008 is expected among other things to improve the...

This study examines the relationship among OFW remittances, inequality and quality of life in the Philippines. The study covered the period from 1990 to 2011 and employed Vector autoregressive (VAR) analysis to examine the relationship among the variables. Over the years, Human Development Index...