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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2000, Central Bank Of Nigeria

CBN Annual Report

This Report reviews the operations of the Central Bank of Nigeria (CBN) and macroeconomic developments during the fiscal year 2000 and appraises the major economic policy outcomes during the period. The bank is responsible for administering the Banks and Other Financial Institutions (BOFI) Act, which aims to ensure high standards of banking practice and financial stability through surveillance activities and the promotion of an efficient payments and clearing system. The bank's major objectives for monetary policy in 2000 were outlined in the Bank's Monetary Policy Circular No. 34. Key policy targets included growth in broad money, narrow money, aggregate bank …

Profile Of South Dakota Farms By Economic Class, Larry Janssen

Economics Commentator

No abstract provided.

Profile Of South Dakota Farms By Economic Class, Larry Janssen

Economics Commentator

No abstract provided.

Organic Agriculture In Europe: Lessons For The U.S.?, Thomas L. Dobbs

Economics Commentator

No abstract provided.

Organic Agriculture In Europe: Lessons For The U.S.?, Thomas L. Dobbs

Economics Commentator

No abstract provided.

Preliminary Assessment Of Client Interest In And Needs Of The New England Environmental Finance Center, New England Environmental Finance Center, University Of Southern Maine

Planning

The New England Environmental Finance Center (NE/EFC) has been conceived as a knowledge-based clearinghouse, training, and change-agent program aimed at helping EPA's constituencies find financially successful approaches to environmental improvements. The NE/EFC will develop approaches to needs of particular priority in New England and potentially useful throughout the nation; share such approaches through the EFC national network; and help make tools from that network accessible throughout New England. In 1999 we began exploring with potential users how this ninth of the nation's EFCs might best address the region's needs. The assessment continued through the Muskie School's EFC proposal to EPA …

How Accurate Are Confidence Intervals For Impulse Responses In Large Var Models?, Lutz Kilian, Pao-Li Chang

Research Collection School Of Economics

We study the finite-sample accuracy and average length of pointwise confidence intervals for impulse responses in vector autoregressive models with many variables and many lags. Our results complement existing simulation evidence based on much simpler bivariate models.

Bugs For A Bayesian Analysis Of Stochastic Volatility Models, Renate Meyer, Jun Yu

Research Collection School Of Economics

This paper reviews the general Bayesian approach to parameter estimation in stochastic volatility models with posterior computations performed by Gibbs sampling. The main purpose is to illustrate the ease with which the Bayesian stochastic volatility model can now be studied routinely via BUGS (Bayesian inference using Gibbs sampling), a recently developed, user-friendly, and freely available software package. It is an ideal software tool for the exploratory phase of model building as any modifications of a model including changes of priors and sampling error distributions are readily realized with only minor changes of the code. However, due to the single move …

The Benton Harbor Area Benchmarking Study, George A. Erickcek, Brad R. Watts

Reports

No abstract provided.

Antidepressent Treatment For Depression: Total Charges And Therapy Duration, Deborah G. Dobrez, Catherine A. Melfi, Thomas W. Croghan, Thomas J. Kniesner, Robert L. Obenchain

Center for Policy Research

Background: The economic costs of depression are significant, both the direct medical costs of care and the indirect costs of lost productivity. Empirical studies of antidepressant costeffectiveness suggest that the use of selective serotonin reuptake inhibitors (SSRI) may be no more costly than tricyclic antidepressants (TCA), will improve tolerability, and is associated with longer therapy duration. However the success of depression care usually involves multiple factors, including source of care, type of care, and patient characteristics, in addition to drug choice. The cost-effective mix of antidepressant therapy components is unclear.

Aims of the Study: Our study evaluates cost and antidepressant-continuity …

Evolution Of Philippine Businesses: Response To Internal And External Turbulence: Review Of Literature And A Framework For A Research Program, Ma. Andrea L. Santiago

Angelo King Institute for Economic and Business Studies (AKI)

The Philippine business environment undoubtedly is characterized as having a boom and bust cycle. It has not been able to take off as compared to its neighboring countries (Lim, 1999). Now more than ever, the political and economic environment has become a big challenge for many local businesses.

In spite, or because, of the current environment there are businesses that continue to prosper. On the one extreme are the large conglomerates that have the muscle to withstand major shocks and the on other are the smaller entrepreneurial ventures that are flexible and able to seize upon opportunities quickly.

In trying …

A Monte Carlo Investigation Of Some Tests For Stochastic Dominance, Yiu Kuen Tse, Xibin Zhang

Research Collection School Of Economics

This paper compares the performance of several tests for stochastic dominance up to order three using Monte Carlo methods. The tests considered are the Davidson and Duclos (2000) test, the Anderson test (1996) and the Kaur, Rao and Singh (1994) test. We find that the Davidson-Duclos test appears to be the best. The Kaur-Rao-Singh test is overly conservative and does not compare favorably against the Davidson-Duclos and Anderson tests in terms of power.

Hybridization Of Dna By Sequential Immobilization Of Oligonucleotides At The Air-Water Interface, Murali Sastry, Vidya Ramakrishnan, Mrunalini Pattarkine, Anand Gole, K. N. Ganesh

Faculty Works

The hybridization of DNA by sequential electrostatic and hydrogen-bonding immobilization of single-stranded complementary oligonucleotides at the air-water interface with cationic Langmuir monolayers is demonstrated. The complexation of the single-stranded DNA molecules with octadecylamine (ODA) Langmuir monolayers was followed in time by monitoring the pressure-area isotherms. A large (and slow) expansion of the ODA monolayer was observed during each stage of complexation in the following sequence: primary single-stranded DNA followed by complementary single-stranded DNA followed by the intercalator, ethidium bromide. Langmuir-Blodgett (LB) films of the ODA-DNA complex were formed on different substrates and characterized using quartz-crystal microgravimetry (QCM), Fourier transform infrared …

The Changing Composition Of South Dakot's Farm And Ranch Enterprises, Matthew A. Diersen

Economics Commentator

No abstract provided.

The Changing Composition Of South Dakot's Farm And Ranch Enterprises, Matthew A. Diersen

Economics Commentator

No abstract provided.

The 1996 Fair Act: A New Direction In Farm Policy Or A Failed Experiment, Gary Taylor

Economics Commentator

No abstract provided.

The 1996 Fair Act: A New Direction In Farm Policy Or A Failed Experiment, Gary Taylor

Economics Commentator

No abstract provided.

The Cambridge School Of Keynesian Economics And The "New Economy": Analysis, Luigi L. Pasinetti

Archives of the Levy Economics Institute

No abstract provided.

Public Education Cost Frontier Models: Theory And An Application, John E. Anderson, Mahbubul Kabir

Department of Economics: Faculty Publications

We examine the cost structure of public schools in this paper, using frontier cost models that enable us to estimate sources of inefficiency. A two equation stochastic frontier model is presented that can be used to explain both cost and the sources of inefficiency. Using that model and data for public schools in Nebraska over the period 1989-92, we estimate cost frontiers for the districts. Estimated cost frontier information is then used in estimating school district need for purposes of computing state aid, illustrating an important potential application of such information.

November 2000, Syracuse Department Of Economics

Economics - All Scholarship

No abstract provided.

Do The Rich Save More?, Karen E. Dynan, Jonathan Skinner, Stephen P. Zeldes

Dartmouth Scholarship

The question of whether higher–lifetime income households save a larger fraction of their income was the subject of much debate in the 1950s and 1960s, and while not resolved, it remains central to the evaluation of tax and macroeconomic policies. We resolve this long‐standing question using new empirical methods applied to the Panel Study of Income Dynamics, the Survey of Consumer Finances, and the Consumer Expenditure Survey. We find a strong positive relationship between saving rates and lifetime income and a weaker but still positive relationship between the marginal propensity to save and lifetime income. There is little support for …

Productivity Growth And The New Economy, William D. Nordhaus

Cowles Foundation Discussion Papers

The present study is the third in a series of three papers devoted to issues in the measurement of productivity and productivity growth. The major findings are as follows. First, this study shows that the new data set used here, which develops data on total output, business sector output, and “well-measured” output, and relying on income-side data, provides a useful supplement to existing data sets. Second, there has clearly been a rebound in labor-productivity growth in recent years. All three sectoral definitions show a major acceleration in labor productivity in the last three years of the period (1996-98) relative to …

New Data And Output Concepts For Understanding Productivity Trends, William D. Nordhaus

Cowles Foundation Discussion Papers

The present study is the second is a series of three papers devoted to issues in the measurement of productivity and productivity growth. The contributions of the present paper are three. First, it introduces a new approach to measuring industrial productivity based on income-side data that are published by the Bureau of Economic Analysis (BEA). The data are internally consistent in that both inputs and outputs are income-side measures of value added, whereas the usual productivity measures combine expenditure-side output measures with income-side input measures. Second, because of interest in the “new economy,” we have also constructed a set of …

Alternative Methods For Measuring Productivity Growth, William D. Nordhaus

Cowles Foundation Discussion Papers

The present study is a contribution to the theory of the measurement of productivity growth. First, it examines the welfare-theoretic basis for measuring productivity growth and shows that the ideal welfare-theoretic measure is a chain index of productivity growth rates of different sectors which uses current output weights. Second, it lays out a technique for decomposing productivity growth which separates aggregate productivity growth into three factors — the pure productivity effect, the effect of changing shares, and the effect of different productivity levels. Finally, it shows how to apply the theoretically correct measure of productivity growth and indicates which of …

Structural Change In Tail Behavior And The Asian Financial Crisis, Carmela E. Quintos, Zhenhong Fan, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper explores tests of the hypothesis that the tail thickness of a distribution is constant over time. Using Hill’s conditional maximum likelihood estimator for the tail index of a distribution, tests of tail shape constancy are constructed that allow for an unknown breakpoint. The recursive test is shown to be inconsistent in one direction, and only a one-sided test is recommended. Specifically, the test can be used when the alternative hypothesis is that the tail index decreases over time. A rolling and sequential version of the test is consistent in both directions. The methods are illustrated on recent stock …

Unilateral Deviations With Perfect Information, Pradeep Dubey, Ori Haimanko

Cowles Foundation Discussion Papers

For extensive form games with perfect information, consider a learning process in which, at any iteration, each player unilaterally deviates to a best response to his current conjectures of others’ strategies; and then updates his conjectures in accordance with the induced play of the game. We show that, for generic payoffs, the outcome of the game becomes stationary in finite time, and is consistent with Nash equilibrium. In general, if payoffs have ties or if players observe more of each others’ strategies than is revealed by plays of the game, the same result holds provided a rationality constraint is imposed …

Does Democracy Engender Equality?, John E. Roemer

Cowles Foundation Discussion Papers

Many suppose that democracy is an ethos which includes, inter alia, a degree of economic equality among citizens. In contrast, we conceive of democracy as ruthless political competition between groups of citizens, organized into parties. We inquire whether such competition, which we assume to be concerned with distributive matters, will engender economic equality in the long run. The society consists of an infinite sequence of generations, each comprised of adults and their children. Adults care about household consumption, and the future wages of their children, which are determined by educational policy. A given generation is characterized by the distribution of …

A Graphical Analysis Of Some Basic Results In Social Choice, Estelle Cantillon, Antonio Rangel

Cowles Foundation Discussion Papers

We use a simple graphical approach to represent Social Welfare Functions that satisfy Independence of Irrelevant Alternatives and Anonymity. This approach allows us to provide simple and illustrative proofs of May’s Theorem, of variants of classic impossibility results, and of a recent result on the robustness of Majority Rule due to Maskin (1995). In each case, geometry provides new insights on the working and interplay of the axioms, and suggests new results including a new characterization of the entire class of Majority Rule SWFs, a strengthening of May’s Theorem, and a new version of Maskin’s Theorem.

Elements Of A Service Referral Algorithm For A Frontline Decision Support System For Washington Workfirst, Randall W. Eberts, Christopher J. O'Leary, Wei-Jang Huang

Reports

No abstract provided.

Economic Impact Of The Proposed Cme North American Merchant Energy, Llc Gas-Powered Electric Power Plant On Berrien County, George A. Erickcek

Reports

No abstract provided.