The Scottish Institute for Research in Economics (SIRE) is the outcome of a substantial investment in Economics Research in Scotland (approximately £21 million over 5 years) by the Scottish Funding Council and ten participating universities. It builds on the distinguished tradition of Economics in Scotland, with eminent contributions from, among others, Adam Smith and David Hume, and the more recent history of successful collaboration in the Scottish Graduate Programme in Economics, founded in 1989.

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  • 'Modern' Phillips Curves and the Implications For The Statistical Process of Inflation 

    Russel, Bill (University of Dundee, 2015-06-18)
    'Modern' theories of the Phillips curve imply that inflation is an integrated, or near integrated process. This paper explains this implication and why these 'modern' theories are logically inconsistent with what is commonly ...
  • Representations and the Corruption of Goods 

    Jones, Martin K (University of Dundee, 2015-03)
    The traditional view of the economic agent is of an individual who is self-interested, rational and perceives the world “correctly”. However, there is a lot of experimental and other evidence that undermines this view of ...
  • Revisiting Shiller’s excess volatility hypothesis 

    Rambaccussing, Dooruj (University of Dundee, 2015-02)
    One of the cornerstone of financial anomalies is that there exists money making opportunities. Shiller’s excess volatility theory is re-investigated from the perspective of a trading strategy where the present value is ...
  • A test of long memory hypothesis based on self-similarity 

    Rambaccussing, Dooruj; Davidson, James (University of Dundee, 2015-01)
    This paper develops a new test of true versus spurious long memory, based on log-periodogram estimation of the long memory parameter using skip-sampled data. A correction factor is derived to overcome the bias in this ...
  • Modelling Housing Prices using a Present Value State Space Model 

    Rambaccussing, Dooruj (University of Dundee, 2015-02-24)
    This paper introduces a State Space approach to explain the dynamics of rent growth, expected returns and Price-Rent ratio in housing markets. According to the present value model, movements in price to rent ratio should ...

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