Alternative transitions to EMU

Article Abstract:

Alternative transitions to the problem posed by membership criteria on membership in the European Monetary Union (EMU) under the Maastricht Treaty were proposed. This issue is important in view of recurring increases in budget deficits and that the European Union's unemployment problem could heighten with the formation of a European Central Bank that would oversee monetary policy. While the Treaty cannot be changed, it can be modified by governments through practical working arrangements. A multi-speed EMU transition process is proposed under which a more liberal interpretation of the entry requirements will be implemented.

Economic aspects, Monetary unions, European Monetary System

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Best fit social choices: an alternative to Arrow

Article Abstract:

A proposed method for determining social outcomes that avoids the impossibility problem of Arrow (1951) is described defines social rankings that are a good fit to individual preferences. The agreement functions defining 'good fit' might be an individual property because preferences are such a property. Conversely, the agreement functions might be defined by a decision-maker or judge who make social choices or moral judgments, thereby offering internal structure to the process referred to as a social welfare function by Arrow.

Models, Social choice

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Alternative semi-parametric likelihood approaches to generalised method of moments estimation

Article Abstract:

Semi-parametric quasi-likelihood procedures for approaching time series models provide an alternative to the generalized method of moments (GMM). The semi-parametric procedures makes use of estimators that are asymptotically equivalent to, but avoids the explicit computations required by, the efficient estimators used in GMM.

Econometrics & Model Building, Research, Econometrics, Business models, Time-series analysis, Time series analysis

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