作者：BoschDomenech, A; Silvestre, J
作者单位：University of California System; University of California Davis
摘要：Our work attempts to investigate the influence of credit tightness or expansion on activity and relative prices in a multimarket set-up. We report on some double-auction, two-market experiments where subjects had to satisfy an inequality involving the use of credit. The experiments display two regimes, characterised by high and low credit availability. Our main results are that changes in the availability of credit: (a) have minor and unsystematic effects on quantities and relative prices in t...
作者：Hendry, DF
摘要：When an econometric model coincides with the mechanism generating the data in an unchanging world the theory of economic forecasting is reasonably well developed. However, less is known about forecasting when model and mechanism differ in a non-stationary and changing world. The paper addresses the basic concepts; the invariance of forecast accuracy measures to isomorphic model representations; the roles of causal information, parsimony and collinearity a reformulated taxonomy of forecast erro...
