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Breaking Trends And The Money-Output Correlation, David Fernandez
Breaking Trends And The Money-Output Correlation, David Fernandez
Research Collection Lee Kong Chian School Of Business
This paper examines the impact on the money-output correlation of a univariate specification that allows time series to be characterized as stationary around a broken trend function. Though pretesting suggests that U.S. real output (industrial production) can be described as broken-trend stationary, this result has only limited impact on the money-output correlation. Before 1985 there is a strong Granger causal relationship between money and broken-detrended output (hut not first-differenced output), even when different short-term interest rates are used as regressors. However, after 1985 this relationship weakens significantly, whether or not one determines that output has a unit root.
Tobin, James, Tony Caporale
Tobin, James, Tony Caporale
Economics and Finance Faculty Publications
James Tobin was born in Champaign, Illinois, in 1918. He received his bachelor's degree in 1939 and his master's degree in 1940, both from Harvard. Following naval service during the years 1942-6, he returned to his graduate studies and received his PhD from Harvard in 1947. In 1950, he joined the economics department at Yale University, and he has largely remained at Yale and has been identified with this institution throughout his career. He twice directed the Cowles Foundation for Research in Economics, first from 1955 to 1961, and then from 1964 to 1965. He also served for two years, …
Measuring The Social Costs And Benefits And Identifying The Victims Of Subordinating Security Interests In Bankruptcy, Steven L. Harris, Charles W. Mooney Jr.
Measuring The Social Costs And Benefits And Identifying The Victims Of Subordinating Security Interests In Bankruptcy, Steven L. Harris, Charles W. Mooney Jr.
All Faculty Scholarship
No abstract provided.