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作者：GERRARD, B
摘要：Mainstream interpretations of Keynes's General Theory are surveyed. An alternative post-classical interpretation is proposed. Keynes is interpreted as treating classical theory as the valid theory of allocation but this type of theory is of limited relevance for macro analysis. The productive sector is characterised by the utilisation mode of activity regulated by the non-allocative multiplier process. However the financial sector is allocative and Keynes proposed the allocative theory of liqu...
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作者：CLARE, AD; PSARADAKIS, Z; THOMAS, SH
作者单位：Swansea University; University of Bristol
摘要：This paper examines the nature and importance of seasonal fluctuations in the UK equity market. Our analysis reveals that returns on the FT-A All Share index exhibit significant seasonality which is best described by a deterministic seasonal model. We also establish that evidence of seasonal variation is robust across size sorted portfolios and remains unaffected by the introduction of a proxy for risk.
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作者：COWELL, FA; JENKINS, SP
作者单位：University of Essex; UK Research & Innovation (UKRI); Economic & Social Research Council (ESRC)
摘要：We develop two simple measures of how much inequality is explained by individual population characteristics or groups of characteristics, analogous to R2 in regression analysis. We investigate the measures' empirical implementation using several alternative theoretically consistent approaches to inequality decomposition. Results are illustrated using US PSID income data.
