Okun’s law is a well-known relationship between the change in the unemployment rate and output growth. The main objective of the study is to provide a rigorous econometric analysis of Okun’s law for several CIS countries using different models and econometric methods. The paper further...

We present a method of calculating the maximal eigenvalue of an indecomposable nonnegative matrix, which is based on ideas of geometric programming. In addition to that, we obtain estimates for elements of an indecomposable nonnegative matrix by its spectral radius. The results make it possible...

Distributions of many variables of interest in developed economic and financial markets, including income and wealth, exhibit heavy tails as in the case of Pareto or power laws. Many commonly used income and wealth inequality measures are very sensitive to extremes and outliers generated by...

Empirical analyses on inequality measurement and those in other fields in economics and finance often face the difficulty that the data is correlated, heterogeneous or heavy-tailed in some unknown fashion. The paper focuses on analogues and modifications of the recently developed t-statistic...

We obtain estimates for the best constant in the Rosenthal inequality View the MathML source for independent random variables ξ1,…,ξn with l zero first odd moments, lgreater-or-equal, slanted1. The estimates are sharp in the extremal cases l=1 and l=m, that is, in the cases of random...

Emerging countries are held to be subject to more frequent and more pronounced external and internal shocks than their developed counter-parts. This suggests that key variables pertaining to their markets, including their exchange rates, will be marked by greater likelihood of extreme...

We obtain estimates for the best constant in the Rosenthal inequality for independent random variables [xi]1,...,[xi]n with l zero first odd moments, l[greater-or-equal, slanted]1. The estimates are sharp in the extremal cases l=1 and l=m, that is, in the cases of random variables with zero mean...

This paper deals with the analysis of the relation between aggregate demand for a consumption good and the distribution of income across consumers. We obtain sufficient conditions under which changes in income inequality lead to an increase or decrease in the market demand elasticities. The...