Business Economics

Professional journal of the National Association of Business Economists covering topics such as macro and microeconomics, monetary and fiscal policy, business forecasting, international economics, and deregulation.

Articles from Vol. 47, No. 4, October

A Comparison of Consensus and BVAR Macroeconomic Forecasts
This paper provides a one-month-ahead, macroeconomic, Bayesian Vector Autoregressive (BV AR) forecasting approach that offers several advantages over conventional short-term forecasting procedures. In particular, it produces more accurate forecasts...
From the Editor
This issue, as usual, covers a number of bases of interest to those who practice economics in business--from patent disputes to short-run forecasting to lessons from Sweden on financial crises to the revival of Keynesian prescriptions for economic...
Keynesian Fiscal Stimulus: What Have We Learned from the Great Recession?
What have we learned from the Great Recession about Keynesian fiscal stimulus? This article contains five sections that develop the following five points: (1) There is confusion about what constitutes fiscal stimulus; (2) economists are deeply divided...
Predictability of Financial Crises: Lessons from Sweden for Other Countries
The predictability of financial crises is widely regarded as low. However, skills linked to market psychology (behavioral finance) and the understanding of history and macrofinancial aggregates have been insufficiently integrated in the forecasting...
The Biases That Limit Our Thinking about the Economic Outlook and Policy
To make effective private-sector decisions and government policy, it is important for those who make decisions and those who are impacted by them to know whether these decisions might be influenced by underlying biases. This paper enumerates and discusses...
The Global Engineering Consultancy Market
The purpose of this paper is to assess and analyze the size and characteristics of the engineering consultancy market in select Western nations and worldwide. A secondary goal is two-fold: to look briefly at the training required for careers in this...
The Myths and Facts of Patent Troll and Excessive Payment: Have Nonpracticing Entities (NPEs) Been Overcompensated?
"Nonpracticing entities" (NPEs) own patents but do not practice the patented technologies. They are sometimes referred to as "patent trolls," who hold up practicing companies to seek exorbitant payments. This paper conducts a review of the theoretical...