Jeffrey Hallman

A large and growing literature is concerned with the theory, estimation, and applications of cointegrating vectors and associated error correction models.

Edmund Burke’s comment is no less true today than it was in 1774. One need only observe political candidates’ perennial attempts to tar their opponents with the "tax and spend" brush to know that Burke had gotten it right more than two centuries ago.

Nearly all economists believe that the sole cause of long-run inflation is excessive money growth.