… ) will generally induce a nonzero correlation between the filtered disturbance <r+3 and
the filtered regressors. For a more detailed argument, see Cumby, Huizinga, and Obstfeld (1983). …

Our chapter reviews positive and normative issues in the interaction between monetary and
fiscal policy, with an emphasis on how views on policy coordination have changed over the …

… where R is the rate of return on the cash position and Rf is the rate of return on the futures
position. The variance of … But, when there is time variation in the joint distribution of (R '. Rf), a …

… Although Bohn does not discuss R and NR regimes directly, his finding would constitute
evidence in favor of an R regime if we were to assume that his regression equation had properly …

… If we define the PPP exchange rate for country i at date t as(6) r i,t = P T 1,t P T i,t purchasing
power … We therefore test whether ln(E i,t ) and ln(r i,t ) are cointegrated and whether the …

… excess return r pt … r pt on r et . The problem that arises with the Jensen measure when the
investor has timing information can be seen by examining the weights, w t . For large values of r …

… In the appendix we show that V, is the asymptotic covariance matrix of r and that the asymptotic
covariance matrix of r with 3r/65 (d- 8) is BDC" . Proposition l combines the se findings in …

This note tests the hypothesis that nominal interest differentials between similar assets
denominated in different currencies can be explained entirely by the expected change in the …

… So, for future reference, CBT–or what is more commonly known as seigniorage–can be
expressed as R times M: M is the base for the seigniorage tax, and R is the tax rate. The discount …

… 52, can be expressed as the product RR’, where R is non-singular; … and R is non-singular.
As shown in section 3, 2S2SLS arises as the natural Aitken estimator for eq. (16), and this …