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<P>Contents<BR>The Propagation of Macroeconomic Shocks: A Dynamic Model with<BR>Contracts and Imperfect Competition<BR>Jean-Pascal B´enassy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1<BR>Variable Elasticity of Substitution and Economic Growth: Theory and<BR>Evidence<BR>Giannis Karagiannis, Theodore Palivos, Chris Papageorgiou . . . . . . . . . . . . . . . 21<BR>Financial Intermediation and Economic Growth: A Semiparametric<BR>Approach<BR>Thanasis Stengos, Zhihong Liang . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39<BR>Bridging the Gap: Linking Economics and Econometrics<BR>David F. Hendry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53<BR>Revenue Smoothing in an ARIMA Framework: Evidence from the<BR>United States<BR>Periklis Gogas, Apostolos Serletis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79<BR>What VAR Tell us about DSGE Models?<BR>Fabio Canova, Joaquim Pires Pina . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89<BR>Ex ante Real Returns in Forward Market Speculation in the Inter-War<BR>Period: Evidence and Prediction<BR>Ivan Paya, David A. Peel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125<BR>Testing for Fractional Cointegration: The Relationship between<BR>Government Popularity and Economic Performance in the UK<BR>James Davidson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147<BR>Non-stationarity Tests in Macroeconomic Time Series<BR>Olivier Darn´e, Claude Diebolt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 173</P>
<P>Seasonality, Nonstationarity and the Structural Forecasting of the Index<BR>of Industrial Production<BR>Eugene Kouassi, Walter C. Labys . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 195<BR>Complex Dynamics in Macroeconomics: A Novel Approach<BR>Catherine Kyrtsou, Constantinos E. Vorlow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223</P>