In this paper, the adoption of electric arc furnace steelmaking technology is examined within a growth model of technological diffusion. The results indicate that the trend rate of adoption of electric are furnace technology is well represented by the S-shaped growth curve. Further results...

In a recent survey, Engel (1996) reported conflicting results about the cointegration relationship between the spot and forward exchange rates. Applying rolling cointegration tests to the mark, yen, and Swiss franc with respect to the U.S. dollar for the post-80 period, we find that the...

We construct a model in which the real exchange rate is affected by the real interest rate and price differentials as well as real factors that cause shocks to the expected flexible-price equilibrium value of the real exchange rate. The model is then employed to test for the "generalized"...