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Real business cycle analysis: a needed revolution in macroeconometrics

Article Abstract:

Real business cycle (RBC) analysis is claimed to have given prominence to the basic defects of the econometric methodology of macroeconomic model-building. Macroeconomic theory needs to be taken seriously in determining the model and emphasize on the values of key structural parameters. The narrowly focused original RBC models should be considered only as prototypes.

Analysis, Econometrics, Business cycles

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The Real Poll

Article Abstract:

A demonstration which started against a Philippine referendum on constitutional amendments turned into a huge protest against the Marcos regime. The amendments recreated the post of vice-president and reduced the size of constituencies for the assembly. Apathy, as much as opposition, was responsible for a low referendum turn out.

Philippines, Referendum, Referendums

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There's no place like home; the dismal state of Alberta real estate

Article Abstract:

Real estate values in Alberta have declined 25-60% in the last three years. At fault is the Alberta Law of Property, which allows no recompense for a mortgagor beyond return of the property. With a total of 4000 foreclosures in Alberta last year, 40% opted to return property.

Real estate agents and managers, Canada, Laws, regulations and rules, Real estate industry, Regional economics, Mortgages, Alberta

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