has become noticeably less volatile. During that time, the economy has experienced two recessions, compared with four in each of the two preceding twenty year periods. Further, the loss in output during the last two recessions has been smaller than what prior experience would lead one to expect. Moreover, the reduction in output volatility is not confined to business cycle frequencies.This can ...

globalisation has given birth to medical tourism. health and medical tourism are the fastest growing seg­ments in not only developed nations but in developing countries too. india has become a hot des­tina­tion, as the indian medical standards match up to the highly prescribed international standards at a very low cost. however, it is an unmixed blessing; along with advantages, it has many unin...

Where the field has been and where it is going? It is relatively easy to know where we have been, but harder (and more valuable) to know where we are going. The title of this paper, borrowed from Hull, Jurafsky and Martin (2008), suggests that applications have become more important, and that industrial laboratories will become increasingly prestigious. 1 Rise of Statistical Methods Some trends...

Recent research provides evidence of important changes in the U.S. economic environment over the last 40 years. This appears to be associated with an alteration of the monetary transmission mechanism. In this paper we investigate the implications for the evolution of monetary policy effectiveness. Using an identiÞed VAR over the preand post-1980 periods we Þrst provide evidence of a reduction i...