Trends versus cycles in global wine export shares

CBI Trends: Wine in the United Kingdom

Di!erential savings, factor shares, and endogenous growth cycles

The paper analyzes the dynamic properties of the neoclassical one-sector growth model with di!erential savings in the sense of Kaldor}Pasinetti. The economy exhibits unstable steady states and #uctuations if the income distribution varies su$ciently and if shareholders save more than workers. The paper analyzes in detail the dynamics for the case with a "xed proportions technology as well as wi...

Top income shares in Canada: recent trends and policy implications

According to Canadian taxfiler data, over the last thirty years there has been a surge in the income shares of the top 1%, top 0.1% and top 0.01% of income recipients, even with longitudinal smoothing by individual using three- or five-year moving averages. Top shares fell in 2008 and 2009, but only by a fraction of the overall surge. Alberta, British Columbia, and Ontario have much more pronou...

Canard cycles in Global Dynamics

Fast-slow systems are studied usually by “geometrical dissection” [4]. The fast dynamics exhibit attractors which may bifurcate under the influence of the slow dynamics which is seen as a parameter of the fast dynamics. A generic solution comes close to a connected component of the stable invariant sets of the fast dynamics. As the slow dynamics evolves, this attractor may lose its stability an...

Investigating Economic Trends and Cycles

Methods are described for extracting the trend from an economic data sequence and for isolating the cycles that surround it. The latter often consist of a business cycle of variable duration and a perennial seasonal cycle. There is no evident point in the frequency spectrum where the trend ends and the business cycle begins. Therefore, unless it can be represented by a simple analytic function,...