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This article considers three standard asset pricing models with adaptive agents and stochastic dividends. The models only differ in the parameters to be estimated. We assume that only limited information is used to construct estimators. Therefore, parameters are not estimated consistently. More...
This article presents an econometric analysis of the maintenance costs for the Austrian railway system. The data contain observations of track maintenance costs from 1998 to 2000. Our analysis identifies the cost driving factors in order to determine estimates of marginal costs, as required by...
Okun's Law postulates an inverse relationship between movements of the unemployment rate and the real gross domestic product (GDP). Initial empirical estimates for US data indicate that a two to three percent GDP growth rate above the natural or average GDP growth rate causes unemployment to...