On modelling the long run in applied economics

Article Abstract:

The importance of the issues on the modeling the long run in applied economics is disputed. Modeling work will be halted if econometricians wait for the outcome of the issues. Moreover, the resolution of the issues is doubted to be of relevance in applied economics. The controversy on modeling the long run diverts attention from panel or cross-section data to time series methods. Box and Jenkin's time series analysis includes pre-analysis, model estimation and model evaluation. The last step is omitted in the panel and cross-section data analysis.

Econometrics & Model Building, Methods, Economics, Business models, Economic methods

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Aid flows and the international transfer problem in a structuralist North-South model

Article Abstract:

A study was conducted to examine global interactions which govern international economic relations between industrialized countries and developing nations. The study focuses on a general equilibrium model describing North-South interactions. Results show that deficit financing under monetary constraints may generate recessionary problems which will affect the flow of aid transfers.

Research, International relations, Developing countries, Industrialized countries, International economic relations, Industrial nations

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What are we learning about the long-run?

Article Abstract:

A study was conducted to examine the developments in economic research on long-run relationships. The study focuses on the introduction of an equilibrium concept for such long-term relationships and considers several econometric methods for analysis. Results show that problems involving techniques will inevitably be encountered in the study of long-run economic variables.

Analysis, Economic research

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