The aggregation problem stems from the fact that while most economic activity originates with individual firms and households, economists, with increasing frequency, want to say something about the behavior, in the aggregate, of all or a group of such units. One obvious approach is to build up to the aggregate, firm by firm. This is not feasible in an atomistic economy such as agriculture. A se...

This paper studies the sensitivity of various health indicators to income inequality as measured by regional Gini coefficients, using individual microdata from Finland over the period 1993-2005. There is no overall association between income and health at the regional level. We discovered that, among men, there are no significant associations between income inequality and several measures of he...

The relationship between stock market returns and economic activity is investigated using signal decomposition techniques based on wavelet analysis. After the application of the maximum overlap discrete wavelet transform (MODWT) to the DJIA stock price index and the industrial production index for the US over the period 1961:1-2006:10wavelet variance and cross-correlations analyses are used to ...

Working papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views stated herein are those of the authors and are not necessarily those of the Federal Reserve Bank...

the millennium development goals (mdgs) are eight international development goals and 21 targets that all countries have agreed to achieve by the year 2015. central asian countries have shown uneven progress in achieving these goals. this paper conducts a comparative study of the impact of economic integration of the regional countries into the world economy on uneven progress of central asian ...

corrosion makes huge economic and ecologic damage all over the world. biologic corrosion of sewer pipes is considered as a serious limitation in economic perspectives. to prevent biologic corrosive damage, lining techniques can be applied by materials and aggregate resistant to attack bacterially in sewer pipes. the role of bacteria is that they convert sulfur compounds into sulfuric acid which...

Using the Johansen cointegration technique, we find empirical evidence of long run comovements between five national stock market indexes and measures of aggregate real activity including the real oil price, real consumption, real money, and real output. Real returns on these indexes are typically related to transitory deviations from the long run relationship and to changes in the macroeconomi...