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Articles 1 - 30 of 198
Full-Text Articles in Social and Behavioral Sciences
Grain Market Expectations, Richard Shane
Cattle Outlook, Gene E. Murra
1988 Drought Effect On The Economy, Lynn Selzle-Wolters, Burton Pflueger
1988 Drought Effect On The Economy, Lynn Selzle-Wolters, Burton Pflueger
Economics Commentator
No abstract provided.
Rural Development Policy Workshop, Ardelle A. Lundeen
Rural Development Policy Workshop, Ardelle A. Lundeen
Economics Commentator
No abstract provided.
Expenditures And Receipts In State And Local Government Finances: Reply, Michael L. Marlow, Neela Manage
Expenditures And Receipts In State And Local Government Finances: Reply, Michael L. Marlow, Neela Manage
Economics
Chowdhury (1988) adopts an alternative technique to test for causality between expenditures and receipts of state and loyal governments and claims that he obtains results that are different from those reported in our 1987 paper (Marlow and Manage, 1987). We disagree with many of his criticisms. In this reply, we argue that he misinterprets our results and policy implications and that his results are really not much different from ours; in fact, sometimes his results provide stronger support of our hypothesis.
Reflections On Econometric Methodology, Peter C.B. Phillips
Reflections On Econometric Methodology, Peter C.B. Phillips
Cowles Foundation Discussion Papers
General issues about the methodology of empirical econometric research are discussed. It is argued that the most successful paradigms for applied work are the ones that have a capacity to survive and to evolve into more useful forms as these are needed. Paradigms that embrace progressive modeling principles, such as those espoused by David Hendry, seem most amenable to this criterion. It is also argued that econometric theory has a large role to play in helping us to understand the strengths and the weaknesses of a methodology and to codify what its prescriptions entail. The time series methodology of David …
Nonparametric Tests Of Maximizing Behavior Subject To Nonlinear Sets, Rosa L. Matzkin
Nonparametric Tests Of Maximizing Behavior Subject To Nonlinear Sets, Rosa L. Matzkin
Cowles Foundation Discussion Papers
This paper extends the axiomatic theory of revealed preference to choices that are generated by the maximization of a strictly concave and strictly monotone function subject to nonlinear constraint sets. I characterize finite sets of observations on choice behavior that are consistent with the maximization of a strictly concave and strictly monotone objective function. Both nonconvex and convex choice sets are considered. The analysis applies, for example, to consumers who face either regressive or progressive taxes and to households that produce commodities according to either a convex or a concave production function. For choice sets that possess convex and monotone …
The Interaction Of Implicit And Explicit Contracts In Repeated Agenc, David G. Pearce, Ennio Stacchetti
The Interaction Of Implicit And Explicit Contracts In Repeated Agenc, David G. Pearce, Ennio Stacchetti
Cowles Foundation Discussion Papers
Traditional agency theory assumes that the principal has no more information about the agent’s actions than the enforcement authorities have. This is unrealistic in many settings, and in repeated models, additional information possessed by the principal changes the nature of the problem. Such information can be used in implicit, self-enforcing contracts between principal and agent, that supplement the usual explicit contracts. This paper studies the way in which the two kinds of contracts are combined in constrained efficient equilibria of the agency supergame. The agent’s compensation is comprised of both guaranteed payments and voluntary bonuses from the principal. We give …
Employment Decline I Timber Dependent Regions, Anthony M. Rufolo, James G. Strathman, Lois M. Bronfman
Employment Decline I Timber Dependent Regions, Anthony M. Rufolo, James G. Strathman, Lois M. Bronfman
Center for Urban Studies Publications and Reports
Employment in the wood products industry in Oregon has declined over the past decade despite the resurgence in demand for the products of the industry in the last few years. Because of the dependency of rural regions on this industry, the Ford Foundation funded the authors to undertake a study of the causes and consequences of employment decline within the industry. Such information can contribute to the development of strategies for improving the economic viability of these regions.
Tunber dependent regions in Oregon fit the classic export-base model of economic development These areas produce wood products for export to other …
The Intendant, The Merchants, And Free Trade In Louisiana, 1778-1788, Brian E. Coutts
The Intendant, The Merchants, And Free Trade In Louisiana, 1778-1788, Brian E. Coutts
DLPS Faculty Publications
Spain acquired Louisiana from France in 1763 but was initially unsuccessful in integrating the distant colony into the Spanish commercial system. Encouraged by the colony’s chief financial officer, Intendant Martín Navarro, the Spanish Crown introduced legislation on January 22, 1782 to promote commerce. Free trade was to be permitted for ten years with designated ports in France. The liberal character of the code fostered the growth of numerous merchant companies in New Orleans who found markets for all of Louisiana’s exports in France, England and the French West Indies. Unfortunately, Spain continued to absorb all of the administrative costs for …
El Intendente, Los Comerciantes Y El "Comercio Libre" En Luisiana 1778-1788, Brian E. Coutts
El Intendente, Los Comerciantes Y El "Comercio Libre" En Luisiana 1778-1788, Brian E. Coutts
DLPS Faculty Publications
Spain acquired Louisiana from France in 1763 but was initially unsuccessful in integrating the distant colony into the Spanish commercial system. Encouraged by the colony’s chief financial officer, Intendant Martín Navarro, the Spanish Crown introduced legislation on January 22, 1782 to promote commerce. Free trade was to be permitted for ten years with designated ports in France. The liberal character of the code fostered the growth of numerous merchant companies in New Orleans who found markets for all of Louisiana’s exports in France, England and the French West Indies. Unfortunately, Spain continued to absorb all of the administrative costs for …
Removing Impediments To Water Markets, B. Delworth Gardner
Removing Impediments To Water Markets, B. Delworth Gardner
Faculty Publications
A few years ago it was mostly economists, notably those of a libertarian stripe who were advocating voluntary market exchanges of water in the West. Now these exchanges, or transfers as they are sometimes referred to, are being unabashedly recommended by water users, politicians, bureaucrats, and even environmental organizations, who have come to see their value for achieving a more efficient water allocation. Water markets are an idea whose time has finally arrived.
The Behavior Of Home Buyers In Boom And Post-Boom Markets, Robert J. Shiller, Karl E. Case
The Behavior Of Home Buyers In Boom And Post-Boom Markets, Robert J. Shiller, Karl E. Case
Cowles Foundation Discussion Papers
No abstract provided.
The Interaction Of Implicit And Explicit Contracts In Repeated Agency, Martin Shubik
The Interaction Of Implicit And Explicit Contracts In Repeated Agency, Martin Shubik
Cowles Foundation Discussion Papers
This article deals with experimental games as they pertain to game theory. As such there is a natural distinction between experimentation with abstract games devoted to testing a specific hypothesis in game theory and games with a scenario from a discipline such as economics or political science where the game is presented in the context of some particular activity.
Review Of "The Adoption And Diffusion Of Imported Technology: The Case Of Korea" By J. L. Enos And W. H. Park, Larry E. Westphal
Review Of "The Adoption And Diffusion Of Imported Technology: The Case Of Korea" By J. L. Enos And W. H. Park, Larry E. Westphal
Economics Faculty Works
No abstract provided.
Money Demand And The Effects Of Fiscal Policies: A Comment, Farrokh Nourzad, James Mcgibany
Money Demand And The Effects Of Fiscal Policies: A Comment, Farrokh Nourzad, James Mcgibany
Economics Faculty Research and Publications
No abstract provided.
South Dakota's Sustainable Agriculture Farmers, Donald C. Taylor, Thomas L. Dobbs
South Dakota's Sustainable Agriculture Farmers, Donald C. Taylor, Thomas L. Dobbs
Economics Commentator
No abstract provided.
Financing Latin American Growth: Prospects For The 1990'S, International Conference
Financing Latin American Growth: Prospects For The 1990'S, International Conference
Archives of the Levy Economics Institute
Sponsored by the Levy Institute in cooperation with the National University of Mexico (UNAM) and Washington University with funding from the Ford Foundation.
Minnesota Housing Report [1988 4th Quarter], George R. Karvel Dr.
Minnesota Housing Report [1988 4th Quarter], George R. Karvel Dr.
Minnesota Housing Reports
The Minnesota Housing Report is compiled on the basis of monthly housing reports furnished to the Minnesota Real Estate Research Center at St. Cloud State University. Funding to permit preparation of the Minnesota Housing Report is provided by the Educational Foundation of the Minnesota Association of REALTORS and St. Cloud State University.
The reports are supplied by fourteen cooperating local real estate boards representing 71.5 percent of Minnesota's population. The boards represent various areas of the state and thus provide a picture of housing diversity between regions as well as housing trends within regions.
Information presented for the state or …
The Macroeconomics Of Government Finance, Michael Haliassos, James Tobin
The Macroeconomics Of Government Finance, Michael Haliassos, James Tobin
Cowles Foundation Discussion Papers
This paper establishes the asymptotic normality of series estimators for nonparametric regression models. Gallant’s Fourier flexible form estimators, trigonometric series estimators, and polynomial series estimators are prime examples of the estimators covered by the results. The results apply to a wide variety of estimands in the regression model under consideration, including derivatives and integrals of the regression function. The errors in the model may be homoskedastic or heteroskeclastic. The paper also considers series estimators for additive interactive regression (AIR), seimparametric regression, and semiparametric index regression models and shows them to be consistent and asymptotically normal. All of the consistency and …
A New Proof Of Knight's Theorem On The Cauchy Distribution, Peter C.B. Phillips
A New Proof Of Knight's Theorem On The Cauchy Distribution, Peter C.B. Phillips
Cowles Foundation Discussion Papers
We offer a new and straightforward proof of F.B. Knight’s [3] theorem that the Cauchy type is characterized by the fact that it has no atom and is invariant under the involution i : x → –1/ x . Our approach uses the representation X = tan θ where θ is uniform on (–π/2, π/2) when X is standard Cauchy. A matrix generalization of this characterization theorem is also given.
A Little Magic With The Cauchy Distribution, Peter C.B. Phillips
A Little Magic With The Cauchy Distribution, Peter C.B. Phillips
Cowles Foundation Discussion Papers
The standard Cauchy distribution is completely characterized by theproperty that it has no atmos and is distributionally equivalent under the involution X → – 1/ X , i.e., X ≡ – 1/ X . Since maximum likelihood is invariant to the choice of normalization rule in structural equation estimation this property establishes that the LIML estimator is standard Cauchy in the leading case of a canonical structural equation. This is a proof by identifying characteristics and is a major improvement over the usual apparatus of change of variable methods and reductions by multiple integration. The new approach has applications in …
Human Rights, Women, And Third World Development, Winston E. Langley
Human Rights, Women, And Third World Development, Winston E. Langley
William Monroe Trotter Institute Publications
As part of the effort to inaugurate a new international socio-political order after World War II, international emphasis was given to certain moral and legal entitlements we have come to call human rights. That emphasis initially found its most forceful expression in the Charter of the United Nations, which not only asserts its members' faith in fundamental human rights, in the dignity and worth of the human person, as well as in the equal rights of men and women of all nations, but also recites its members' commitment to employ international machinery for the promotion of the social and economic …
Reduced Tillage Economics Research, Donald C. Taylor, Thomas L. Dobbs
Reduced Tillage Economics Research, Donald C. Taylor, Thomas L. Dobbs
Economics Commentator
No abstract provided.
Metropolitan Report - September 6, 1988, Division Of Business And Economic Research, College Of Business Administration, University Of New Orleans
Metropolitan Report - September 6, 1988, Division Of Business And Economic Research, College Of Business Administration, University Of New Orleans
UNO Metropolitan Report
No abstract provided.
Controlling Leviathan Through Tax Reduction, Michael L. Marlow, William Orzechowski
Controlling Leviathan Through Tax Reduction, Michael L. Marlow, William Orzechowski
Economics
No Abstract
Private Sector Shrinkage And The Growth Of Industrialized Economies: Reply, Michael L. Marlow
Private Sector Shrinkage And The Growth Of Industrialized Economies: Reply, Michael L. Marlow
Economics
No abstract provided.
The Shapes Of Polyhedra, Ravi Kannan, László Lovász, Herbert E. Scarf
The Shapes Of Polyhedra, Ravi Kannan, László Lovász, Herbert E. Scarf
Cowles Foundation Discussion Papers
No abstract provided.
Nonparametric And Distribution-Free Estimation Of The Binary Choice And The Threshold-Crossing Models, Rosa L. Matzkin
Nonparametric And Distribution-Free Estimation Of The Binary Choice And The Threshold-Crossing Models, Rosa L. Matzkin
Cowles Foundation Discussion Papers
This paper studies the problem of nonparametric identification and estimation of binary threshold-crossing and binary choice models. First, conditions are given that guarantee the nonparametric identification of both the function of exogenous observable variables and the distribution of the random terms. Second, the identification results are employed to develop strongly consistent estimation methods that are nonparametric in both the function of observable exogenous variables and the distribution of the unobservable random variables. The estimators are obtained by maximizing a likelihood function over nonparametric sets of functions. A two-step constrained optimization procedure is devised to compute these estimators.
The Power Of Commitment, Chien-Fu Chou, John Geanakoplos
The Power Of Commitment, Chien-Fu Chou, John Geanakoplos
Cowles Foundation Discussion Papers
History has seen many examples of the lone man — like Christ, Luther, Gandhi, or Hitler — who without initial wealth or position, succeeds in changing the behavior of an entire society, for good or for ill. Whence comes this power. No doubt such leaders have possessed extraordinary ability, and have formulated original ideas with great appeal which others could readily follow. But there is another striking similarity among these leaders; namely their single-minded devotion to their, ideals, and their uncompromising attitude toward those who opposed them, no matter what the personal cost. There is hardly any need to document …