A Subordinated Stochastic Process Model with Finite Variance for Speculative Prices
- P. Clark
- Mathematics
- 1973
S. Bochner's concept of a subordinate stochastic process is proposed as a model for speculative price series. A general class of finite-variance distributions for price changes is described, and a…
The Cyclical Component of U. S. Economic Activity
- P. Clark
- Economics
- 1 November 1987
Quarterly data on industrial production and deflated gross national product in the United States from 1947 through 1985 are decomposed into independent nonstationary trend and stationary cycle…
Investment in the 1970s: Theory, Performance, and Prediction
- P. Clark
- Economics
- 1979
ONE of the most widely perceived characteristics of economic recovery since early 1975 has been the relatively slow growth of business fixed investment. At the end of 1978, for example, real GNP was…
Inflation and the Productivity Decline
- P. Clark
- Economics
- 1982
During the past fifteen years, the United States has experienced a dramatic decline in productivity growth. In the two decades before the mid-1960's, real output per hour of labor input in the…
Tax Incentives and Equipment Investment
- P. Clark, Daniel E. Sichel
- Economics
- 1993
OVER THE PAST FORTY YEARS, tax treatment of income from capital in general, and income from producer's durable equipment in particular, has been changed in the United States an amazing number of…
Issues in the Analysis of Capital Formation and Productivity Growth
- P. Clark
- Economics
- 1979
New measures are used to estimate the magnitude of the slowdown in labor productivity growth and are compared in several ways to analyze recent trends. Using the private business sector (nonfarm and…
POTENTIAL GNP IN THE UNITED STATES, 1948–80
- P. Clark
- Economics
- 1 June 1979
Potential gross national product (GNP) is a measure of the aggregate supply capability of an economy, or the amount of output that could be expected at full employment. Such a measure of output at…
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