A note on change in persistence of U.S. city prices

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Jorge Belaire-Franch
Keyword(s):  
United States ◽  
International Economic ◽  
Structural Changes ◽  
Price Index ◽  
Alternative Hypothesis ◽  
International Economic Review ◽  
Wald Tests ◽  
Price Differentials ◽  
Multiple Structural Changes

AbstractThis paper seeks to explain the high persistence in U.S. price differentials found in Cecchetti, S. G., N. C. Mark, and R. J. Sonora. 2002. “Price Index Convergence Among United States Cities.” International Economic Review 43: 1081–99, by means of the concept of change in persistence. To that end, have computed recently developed tests by Kejriwal, M., P. Perron, and J. Zhou. 2013. “Wald Tests for Detecting Multiple Structural Changes in Persistence.” Econometric Theory 29: 289–323, allowing for multiple changes in persistence under the alternative hypothesis. We conclude that change in persistence cannot be ruled out for some city price differentials.

WALD TESTS FOR DETECTING MULTIPLE STRUCTURAL CHANGES IN PERSISTENCE

2012 ◽  
Vol 29 (2) ◽  
pp. 289-323 ◽  
Author(s):  
Mohitosh Kejriwal ◽  
Pierre Perron ◽  
Jing Zhou
Keyword(s):  
Unit Root ◽  
Structural Changes ◽  
Alternative Hypothesis ◽  
Dynamic Programming Algorithm ◽  
Stationary Regime ◽  
Programming Algorithm ◽  
Relevant Alternatives ◽  
Testing Procedures ◽  
Wald Tests ◽  
Multiple Structural Changes

This paper considers the problem of testing for multiple structural changes in the persistence of a univariate time series. We propose sup-Wald tests of the null hypothesis that the process has an autoregressive unit root throughout the sample against the alternative hypothesis that the process alternates between stationary and unit root regimes. We derive the limit distributions of the tests under the null and establish their consistency under the relevant alternatives. We further show that the tests are inconsistent when directed against the incorrect alternative, thereby enabling identification of the nature of persistence in the initial regime. We also propose hybrid testing procedures that allow ruling out of stable stationary processes or ones that are subject to only stationary changes under the null, thereby aiding the researcher in interpreting a rejection as emanating from a switch between a unit root and stationary regime. The computation of the test statistics as well as asymptotic critical values is facilitated by the dynamic programming algorithm proposed in Perron and Qu (2006, Journal of Econometrics134, 373–399) which allows imposing within- and cross-regime restrictions on the parameters. Finally, we present Monte Carlo evidence to show that the proposed procedures perform well in finite samples relative to those available in the literature.

The End of Empire and the Search for Justice

2018 ◽  
Author(s):  
John Linarelli ◽  
Margot E Salomon ◽  
Muthucumaraswamy Sornarajah
Keyword(s):  
United States ◽  
International Economic ◽  
International Law ◽  
International Economic Order ◽  
The United States ◽  
Economic Order ◽  
Global Context ◽  
Neoliberal Ideology ◽  
First Time

This chapter is a study of the themes of the New International Economic Order (NIEO). It begins with the notion of justice that had been constructed in imperial law to justify empire and colonialism. The NIEO was the first time a prescription was made for justice in a global context not based on domination of one people over another. In its consideration of the emergence of a new notion of justice in international law, the chapter discusses the reasons for the origins of the NIEO, and goes on to describe the principles of the NIEO and the extent to which they came into conflict with dominant international law as accepted by the United States and European states. Next the chapter deals with the rise of the neoliberal ideology that led to the displacement of the NIEO and examines the issue of whether the NIEO and its ideals have passed or whether they continue to be or should be influential in international law. Finally, the chapter turns to the ideas of the NIEO alongside new efforts at promoting a fuller account of justice by which to justify and evaluate international law.

Japan's Role in Asia-Pacific Cooperation

1991 ◽  
Vol 513 (1) ◽  
pp. 25-37 ◽  
Author(s):  
SABURO OKITA
Keyword(s):  
United States ◽  
Economic Growth ◽  
International Economic ◽  
The United States ◽  
Growth Potential ◽  
The Other ◽  
Asia Pacific ◽  
Asia Pacific Economic Cooperation ◽  
Rapid Economic Growth ◽  
International Trading

The Asia-Pacific countries achieved rapid economic growth with the flying-goose model in the 1980s, growth buttressed by export-oriented development strategies and the policy culture in these countries. While Japan and the other Asia-Pacific countries still have strong growth potential, many problems remain, including trade imbalances with the United States and the rise of protectionism there, the Asia-Pacific economies' vulnerability, and the need to consolidate the infrastructure for growth. It is imperative that Japan contribute to the development of the region by responding effectively to these issues and that it strengthen the international trading arrangements by promoting Asia-Pacific cooperation premised on openness. Given the region's great internal diversity, Asia-Pacific economic cooperation can well serve as a model for international economic coordination.

Judges, Juries, and the History of Criminal Appeals

2011 ◽  
Vol 29 (1) ◽  
pp. 297-302
Author(s):  
Benjamin L. Berger
Keyword(s):  
United States ◽  
Criminal Justice ◽  
Criminal Law ◽  
Legal History ◽  
Structural Changes ◽  
Criminal Procedure ◽  
The United States ◽  
Early History ◽  
Criminal Justice Systems ◽  
History Of

The three articles offered in this forum on the early history of criminal appeals do us the great service of adding much of interest on this important but neglected issue in the development of Anglo–North American criminal procedure. The opaqueness of the legal history of criminal appeals stands in stark contrast to their centrality and apparent naturalness in contemporary criminal justice systems in England, Canada, and the United States. These three papers look at the period leading up to and immediately following the creation of the first formalized system of what we might call criminal appeals, the establishment of the Court of Crown Cases Reserved (CCCR) in 1848. This key period in the development of the adversary criminal trial was marked by both a concerted political effort to codify and rationalize the criminal law and by profound structural changes in the management of criminal justice.

scholarly journals Century-Long Dynamics of the Land Use Structure in the United States

2020 ◽  
pp. 220-231
Author(s):  
Valerij Minat
Keyword(s):  
United States ◽  
Land Use ◽  
Structural Changes ◽  
The United States ◽  
Structural Features ◽  
Summary Table ◽  
Land Use Structure ◽  
Periodic Dynamics ◽  
Space Dynamics ◽  
American Society

The paper studies the experience of American land use in the twentieth century on the territory of 48 contiguous continental states. Changes in time and space (dynamics) of the main indicators of distribution and use of land resources that form the structural appearance of the U.S. land fund are shown. Based on the analysis of the countrys land use structure, the resulting part of which is a summary table, the periodic dynamics of the land use structure (in twenty-year time intervals) is considered, and the dependence of structural changes in land use on the level and nature of the socio-economic development of American society is shown. The study of the age-old dynamics of structural features of American land use conducted on the basis of scientific materials of American scientists and data from official American statistics makes it possible to draw generalizing conclusions about the nature of land use in the United States, both in the whole country and in the regional aspect. As a result, the author has obtained a generalized scientific picture of how the structure of land use in the continental part of the country (without Alaska) has changed over the course of a century in the direction from maximum to optimal use of natural resources.

scholarly journals THE GENESIS OF THE US FOREIGN POLICY: THE ORIGIN OF THE HISTORIOGRAPHY OF THE TOPIC, 1610–1820S

2021 ◽  
Vol 7 (73) (2) ◽  
pp. 81-93
Author(s):  
D. V. Dorofeev
Keyword(s):  
United States ◽  
Foreign Policy ◽  
International Relations ◽  
North American ◽  
Alternative Hypothesis ◽  
The United States ◽  
Us Foreign Policy ◽  
Founding Fathers ◽  
The North ◽  
The Us

The research is devoted to the study of the origin of the historiography of the topic of the genesis of the US foreign policy. The key thesis of the work challenges the established position in the scientific literature about the fundamental role of the work of T. Lyman, Jr. «The diplomacy of the United States: being an account of the foreign relations of the country, from the first treaty with France, in 1778, to the Treaty of Ghent in 1814, with Great Britain», published in 1826. The article puts forward an alternative hypothesis: the emergence of the historiography of the genesis of the foreign policy of the United States occurred before the beginning of the second quarter of the XIX century – during the colonial period and the first fifty years of the North American state. A study of the works of thirty-five authors who worked during the 1610s and 1820s showed that amater historians expressed a common opinion about North America’s belonging to the Eurocentric system of international relations; they were sure that both the colonists and the founding fathers perceived international processes on the basis of raison d’être. The conceptualization of the intellectual heritage of non-professional historians allowed us to distinguish three interpretations of the origin of the United States foreign policy: «Autochthonous» – focused on purely North American reasons; «Atlantic» – postulated the borrowing of European practice of international relations by means of the system of relations that developed in the Atlantic in the XVII–XVIII centuries; «Imperial» – stated the adaptation of the British experience. The obtained data refute the provisions of scientific thought of the XX–XXI centuries and create new guidelines for further study of the topic.

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