The paper considers maximum likelihood estimation of dynamic panel structural equation models with latent variables and fixed effects (DPSEM). This generalises the structural equation methods where latent variables are measured by multiple observable indicators and where structural and measurement models are jointly estimated to dynamic panel models with fixed effects. Analytical expressions fo...

In the presence of principal-agent problems, published macroeconomic forecasts by professional economists may not measure expectations. Forecasters may use their forecasts in order to manipulate beliefs about their ability. I test a cross-sectional implication of models of reputation and information-revelation. I find that as forecasters become older and more established, they produce more radi...

This paper studies under which conditions the share of profit in value added, financial constraints on investment and capital shortage may foster unemployment and may limit the growth of capital and/or the growth of aggregate demand, in a stock-flow consistent model. The efficiency of demand side versus supply side economic policies (decrease of the real interest rate and/or of the real wage, i...

the development of multiple criteria decision making techniques is to provide the possibility of using multiple criteria in decision making problems. multi-criteria decision making problems primarily relate to choosing the best option among several available options and according to some indicators. one of the major issues in this regard is to determine the importance weights of decision criter...