Many have argued that if labor hicome is difference stationary, the permanent income hypothesis predicts consumption should be relatively volatile. In US an-gregate data, labor income is well-characterized as having a unit root; however consumption turns out to be relatively smooth. This anomaly is known as Deaton's paradox. We resolve Deaton^s paradox by providing decompositions of labor incom...

This was a special meeting of the Edinburgh MedicoChirurgical Society, held in the Royal College of Physicians, Queen Street, Edinburgh, for the purpose of discussing the establishment of wards for the treatment of " incipient and transitory mental disorders" in connection withTKiT Royal Intirmary. There was a large attendance. Apologies for absence were received from the Lord Provost, Sir Char...

A second stage in the treatment of arthrosis following the non-steroid anti-inflammatories is formed by the so-called chondroprotectors and intraarticular viscosupplementation with hyaluronic acid, generally in the knee. Although infrequent, cases have been described of transitory inflammatory arthritis following intra-articulary administration. The main problem is differential diagnosis with a...

I examine a sequential bargaining situation in which agents contest the right to propose an allocation. The contest can either take place at a pre-bargaining stage, yielding "persistent recognition” to propose, or recur throughout the bargaining, yielding "transitory recognition”. Equilibrium analysis reveals that surplus is distributed more unequally under persistent recognition; social cost i...

Abstract This paper deals with the analysis of statistical properties profitability yielded by Private Equity from a fractionally integrated viewpoint. Using quarterly data 1981q2 to 2021q3, results support hypothesis stationarity and mean reversion in all cases; however, we observe differences degree persistence across regions, Europe being closest short memory while US shows highest long rang...