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How Big Is the Random Walk in GNP?

This paper presents a measure of the persistence of fluctuations in gross national product (GNP) based on the variance of its long differences. That measure finds little long-te...

1988 Journal of Political Economy 1277 citations

In transaction cost economics, trust has been treated as redundant or even misleading.This study tested the effects of governance and trust on the risk perceived by agents of fi...

Research portal (Tilburg University) 1131 citations