Social and Behavioral Sciences Commons^™

Continued Declines In South Dakota Farmland Prices, Larry Janssen

Economics Commentator

No abstract provided.

Stabilizing An Unstable Economy, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Prepared for a Bank Credit Analyst Conference held in the Plaza Hotel, NYC. This paper was subsequently included in the Special Monograph published bytheBank /credit Analyst, "The Escalation in Debt and Disinflation: Prelude to Financial Mania and Crash?" which is also included here.

Cash Settlement For Feeder Cattle, Gene E. Murra

Economics Commentator

No abstract provided.

Training Needs Of Village-Level Leaders For Participatory Rural Development: Focus On Sri Lanka, D. Stanley D. Gajanayake

Doctoral Dissertations at the Center for International Education

People's participation at the grassroots level in development is a major concern of policy-makers, development planners, research workers and practitioners in the field of rural development. The ability and the willingness of the rural people to involve themselves actively in the development process depends on their level of motivation. The village-level leaders can play a central role in the process of motivating and igniting the enthusiasm of the people at the village-level. Strengthening the capabilities of the village-level workers in this respect is one of the crucial challenges faced by practitioners in the field of rural development.

The primary purpose …

Developments In The Financial System During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

The narrow measure of money stock, (Ml), declined during the third quarter due, on the one hand, to increases in quasi money and 'other' assets of the banking system and on the other, partially offsetting increases in foreign assets and in credit to the domestic economy. The broader measure, (M2), maintained an upward trend. The money and capital market both recorded moderate increases in the level activities during the quarter.

Developments In The Agricultural Sector Of The Economy During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

Harvesting of grains and tubers was the dominant activity in the agricultural sector in most parts of the country during the third quarter of 1986. In spite of the lower-than-average amounts of rainfall recorded during the first half of the year, a bumper harvest of maize, rice, yams and cassava was reported

Foreign Private Investment In Nigeria In 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

This report presents the results of the Central Bank of Nigeria's annual survey of Foreign Private Investment in the country in 1984. The survey was conducted through questionnaires sent to companies I whose capital structure was wholly foreign 2 or joint Nigeria/Foreign. The report is presented under the following subheadings: flow of foreign private capital, components of net capital flow, cumulative and net investments by country/region of origin and economic sectors, cumulative/net short and long term investment, cumulative and net investment in the manufacturing and processing sector by type of industry, stock of fixed asset at cost and at book …

How To Maintain Full Employment, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

One of the ongoing columns, "The ECONOMY from the Not-So Ivory Tower."

Developments In Nigeria's External Sector During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

Nigeria's external transactions during the third quarter of 1986 resulted in a net inflow of N466.9 million in contrast with the net outflows of N25 million at the end of the preceding quarter and N247.1 million during the third quarter of 1985 (See Table 1). The apparent tum-around, did not, however, reflect any real improvement in the country's tight foreign exchange situation. In fact, outstanding arrears on current transactions at the end of the quarter showed an increase over the level at the end of the second quarter. The net inflow figure therefore was largely the result of administrative measures …

On The Formulation Of Wald Tests Of Nonlinear Restrictions, Peter C.B. Phillips, Joon Y. Park

Cowles Foundation Discussion Papers

This paper utilizes asymptotic expansions to investigate alternative forms of the Ward set of nonlinear restrictions. Some formulae for the asymptotic expansion of the distribution of the Wald statistic are provided for a general case. When specialized to the simple cases that have been studied recently in the literature, these formulae are found to explain rather well the discrepancies in sampling behavior that have been observed by other authors. It is further shown how the correction delivered by the Edgeworth expansion may be used to find transformations of the restrictions which accelerate convergence to the asymptotic distribution.

Review Of "Sources Of Economic-Growth In Korea: 1963-1982" By K.-S. Kim And J.-K. Park, Larry E. Westphal

Economics Faculty Works

No abstract provided.

Asymptotic Equivalence Of Ols And Gls In Regressions With Integrated Regressors, Peter C.B. Phillips, Joon Y. Park

Cowles Foundation Discussion Papers

In the multiple regression model y t = x’ t β + u t where { u t } is stationary and x t is an integrated m -vector process it is shown that the asymptotic distributions of the ordinary least squares (OLS) and generalized least squares (GLS) estimators of β are identical. This generalizes a recent result obtained by Kramer (1986) for simple two variate regression. Our approach makes use of a multivariate invariance principle and yields explicit representations of the asymptotic distributions in terms of fuctionals of vector Brownian motion. Some useful assumption results for hypothesis tests in …

Monetary Policy, Fiscal Policy, And Aggregate Economic Activity In Korea, Abdur Chowdhury

Economics Faculty Research and Publications

No abstract provided.

Risk Management And Marketing, Gene E. Murra

Economics Commentator

No abstract provided.

Looking To Suburban Malls For Lesson On Envisaged Providence Company, Chester Smolski

Smolski Texts

"During next month, some major decisions must be made that will have long-term effects on the future health and prosperity of our capital city's central business district. One of these decisions relates to the proposed establishment of a 'Providence Company,' a management and marketing organization for the downtown, recommended in the recently completed Carr, Lynch and Levine report on downtown Development."

Downtown Plan Whose Time Has Come, Chester Smolski

Smolski Texts

"The recently completed 'Providence Development Strategy,' a study of the capital city's downtown by Carr, Lynch Associates, Inc. in collaboration with Melvin Levine & Associates, Inc. of Cambridge, has now reached the public discussion stage. And in two meetings of invited participants, several points were raised that will need to be addressed by a mayor's committee which is to make recommendations to him by September."

Agricultural Structure And Change: Litchfield County, Connecticut, William H. Groff

Storrs Agricultural Experiment Station

No abstract provided.

Limiting Distributions Of The Number Of Pure Strategy Nash Equilibria In N-Person Games, Imelda Yeung Powers

Cowles Foundation Discussion Papers

In this paper, we study the number of pure strategy Nash equilibria in a “random” n -person non-cooperative game in which all players have a countable number of strategies. We provide explicit expressions for the expected number of pure strategy Nash Equilibria, and show that the distribution of the number of pure strategy Nash Equilibria approaches the Poisson distribution with mean 1 as the numbers of strategies of two or more players go to infinity.

Bark Or Bite Perspectives On Economic Sanctions For Foreign Policy Objectives, Rodney W. Skotty

Graduate Program in International Studies Theses & Dissertations

Economic sanctions have been used throughout history to coerce target nations to acquiesce in the objectives of nations that impose them. The record of achievement, using sanctions as a tool of foreign policy, has been poor. Regardless, nations continue to use economic sanctions to attain their goals despite their relative ineffectiveness. And as nations apply sanctions frequently to resolve international conflicts, such frequency tends to impair the credibility of sanctions as an implement of foreign policy. The fact that they are imposed frequently, also reflects that they are used to rectify lesser violations of the international norm. In view of …

Power In Econometric Applications, Donald W.K. Andrews

Cowles Foundation Discussion Papers

This paper is concerned with the use of power properties of tests in econometric applications. Power radius and inverse power functions are defined. These functions are designed to yield summary measures of power that facilitate the interpretation of test results in practice. Simple approximations are introduced for the power radius and inverse power functions of Wald, likelihood ration, Lagrange multiplier, and Hausman tests. These approximations readily convey the general qualitative features of the power of a test. Examples are provided to illustrate their usefulness in interpreting test results.

Temporal Dependence In Limited Dependent Variable Models: Theoretical And Monte-Carlo Results, Vassilis A. Hajivassiliou

Cowles Foundation Discussion Papers

This paper analyzes the consistency properties of classical estimators for limited dependent variables models, under conditions of serial correlation in the unobservables. A unified method of proof is used to show that for certain cases (e.g., Probit, Tobit and Normal Switching Regimes models, which are normality-based) estimators that neglect particular types of serial dependence (specifically, corresponding to the class of “mixing” processes) are still consistent. The same line of proof fails for the analogues to the above models that impose logistic distributional assumptions, thus indicating that normality plays a special role in these problems. Sets of Monte-Carlo experiments are then …

Metropolitan Report - July 1986, Division Of Business And Economic Research, College Of Business Administration, University Of New Orleans

UNO Metropolitan Report

No abstract provided.

Testing For A Unit Root In Time Series Regression, Peter C.B. Phillips, Pierre Perron

Cowles Foundation Discussion Papers

This paper proposes some new tests for detecting the presence of a unit root in quite general time series models. Our approach is nonparametric with respect to nuisance parameters and thereby allows for a very wide class of weakly dependent and possibly heterogeneously distributed data. The tests accommodate models with a fitted drift and a time trend so that they may be used to discriminate between unit root nonstationarity and stationarity about a deterministic trend. The limiting distributions of the statistics are obtained under both the unit root null and a sequence of local alternatives. The latter noncentral distribution theory …

Quasirents, Influence And Organization Form, Paul R. Milgrom

Cowles Foundation Discussion Papers

When changing jobs is costly, efficient employment arrangements are characterized by complex contracts, rather than simply wages. Under these contracts, workers are not generally fully compensated for the effects of post-employment events or decisions. As a consequence, if there is a central office executive with discretionary authority to make decisions, employees will be led to waste valuable time in attempts to influence his decisions. Efficient organization design balances these “influence costs” against the benefits of improved appraisal, coordination, and planning that such an executive can provide. Identifying influence costs requires first identifying the kinds of decisions about which employees will …

Weak Convergence To The Matrix Stochastic Integral Bdb, Peter C.B. Phillips

Cowles Foundation Discussion Papers

The asymptotic theory of regression with integrated processes of the ARIMA type frequently involves weak convergence to stochastic integrals of the form ∫ 0 1 WdW , where W ( r ) is standard Brownian motion. In multiple regressions and vector autoregressions with vector ARIMA processes the theory involves weak convergence to matrix stochastic integrals of the form ∫ 0 1 BdB ’, where B ( r ) is vector Brownian motion with non scalar covariance matrix. This paper studies the weak convergence of sample covariance matrices to ∫ 0 1 BdB ’ under quite general conditions. The theory is …

Is The Party About To End?, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

One of the ongoing columns “The Economy from the Not-so Ivory Tower.”

Soldiers Of Fortune, Ted Bergstrom

Ted C Bergstrom

This paper shows that if workers have identical wealths, abilities, and preferences then a draft lottery is Pareto superior to a voluntary army. It also shows that if being a civilian is a "normal good", then the optimal pay schedule will be such that people prefer not being chosen for the army. The paper shows how this idea extends to occupational choice in general and shows that pure gambles taken prior to occupational choice can substitute for lotteries that determine one's occupation. This paper repairs what I think is a major flaw in standard general equilibrium theory, which assumes away …

The Next Threshold: Higher Skills And The New England Economy, John C. Hoy

New England Journal of Public Policy

The history of the New England regional economy — its attenuated post-World War II decline and subsequent aggressive renewal — reveals an intensifying relationship between economic resurgence, the supply and continuing demand for professional manpower, and the results of academic research and development. The New England region has "outproduced" the rest of the nation in supplying professionally trained men and women, a leading factor not fully appreciated by those describing the region's robust economic health in the decade since Neal Peirce wrote The New England States. New England's "oversupply" in professional fields has given the high-tech and sophisticated services …

Implications Of New Technologies For U.S. Agriculture, Thomas L. Dobbs

Economics Commentator

No abstract provided.

The Wheat Poll Do Wheat Producers Favor Mandatory Limits On Production?, Edward Smith, Mechel Paggi, James Richardson, Ronald Knutson

Economics Commentator

No abstract provided.