Journal•ISSN: 0347-0520
The Scandinavian Journal of Economics
Wiley-Blackwell
About: The Scandinavian Journal of Economics is an academic journal published by Wiley-Blackwell. The journal publishes majorly in the area(s): Wage & Unemployment. It has an ISSN identifier of 0347-0520. Over the lifetime, 1956 publications have been published receiving 81381 citations. The journal is also known as: Scandinavian Journal of Economics.
Papers published on a yearly basis
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TL;DR: Using a dynamic version of Galton's fallacy, the authors showed that coefficients of arbitrary signs in such regressions are consistent with an unchanging cross-section distribution of incomes, and that there is a tendency for divergence rather than convergence of cross-country incomes.
Abstract: Recent tests for the convergence hypothesis derive from regressing average growth rates on initial levels: a negative initial coefficient is interpreted as convergence. These tests turn out to be plagued by Galton's classical fallacy of regression towards the mean. Using a dynamic version of Galton's fallacy, I establish that coefficients of arbitrary signs in such regressions are consistent with an unchanging cross-section distribution of incomes. Alternative, more direct empirics used here show a tendency for divergence, rather than convergence, of cross-country incomes.
1,711 citations
TL;DR: In this paper, the role of expectations in exchange rate determination and a direct observable measure of expectations is proposed, based on the information that is contained in data from the forward market for foreign exchange.
Abstract: This paper deals with the determinants of the exchange rate and develops a monetary view (or more generally, an asset view) of exchange rate determination. The first part traces some of the doctrinal origins of approaches to the analysis of equilibrium exchange rates. The second part examines some of the empirical hypotheses of the monetary approach as well as some features of the efficiency of the foreign exchange markets. Special emphasis is given to the role of expectations in exchange rate determination and a direct observable measure of expectations is proposed. The direct measure of expectations builds on the information that is contained in data from the forward market for foreign exchange. The empirical results are shown to be consistent with the hypotheses of the monetary approach.
1,281 citations
TL;DR: The authors reviewed the basic model of R&D spillovers and then focused on the empirical evidence for their existence and magnitude, with special attention to the economic difficulties of actually coming up with convincing evidence on this topic.
Abstract: R&D spillovers are, potentially, a major source of endogenous growth in various recent "new growth theory" models. This paper reviews the basic model of R&D spillovers and then focuses on the empirical evidence for their existence and magnitude. It surveys the older empirical literature with special attention to the economic difficulties of actually coming up with convincing evidence on this topic. Taken individually, many of the studies are flawed and subject to a variety of reservations, but the overall impression remains that R&D spillovers are both prevalent and important. Copyright 1992 by The editors of the Scandinavian Journal of Economics.
1,181 citations
TL;DR: In economics, an important research program has developed in economics that extends neo-classical economic theory in order to examine the effects of institutions on economic behavior as discussed by the authors, which is referred to as "neo-institutional economics".
Abstract: An important research programme has developed in economics that extends neo-classical economic theory in order to examine the effects of institutions on economic behaviour. The body of work emerging from this line of inquiry includes contributions from various branches of economic theory, such as the economics of property rights, the theory of the firm, cliometrics and law and economics. This book is a comprehensive survey of this research programme which the author terms 'neoinstitutional economics'. The author proposes a unified approach to this research, integrating the work of various contributors and emphasising the common principles of inquiry that tie the work together. The theoretical discussion is accompanied by empirical studies dealing with a range of institutions and economic systems. This book will serve as the primary resource for economists and students who want to learn about this important branch of economic theory.
988 citations
TL;DR: This article provided a survey of the theoretical literature and empirical evidence consistent with the contagious nature of currency crises and estimated that the existence of a currency crisis elsewhere in the world (whether successful or not) raises the probability of an attack on the domestic currency by 8 percent, even after taking account of domestic political and economic factors.
Abstract: We address the fact that the incidence of speculative attacks tends to be temporally correlated; that is, currency crises appear to pass "contagiously" from one country to another. The paper provides a survey of the theoretical literature. We also provide empirical evidence consistent with the contagious nature of currency crises. We estimate that the existence of a currency crisis elsewhere in the world (whether successful or not) raises the probability of an attack on the domestic currency by 8 percent, even after taking account of a variety of domestic political and economic factors.
887 citations