Economics Commons^™

Three Monographs: International Monetary Fund; Treasury Systems; Military Conscription And Conscientious Objection, John Sondey

Economics Staff Paper Series

No abstract provided.

Marxian Economics: A Centenary Appraisal, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

International Conference. Karl Marx’s Third Volume of Capital: 1894-1994. Universita Degli Studi Di Bergamo, Dipartimento Di Scienze Economiche, Bergamo, Italy, Dec. 15-17, 1994. Plenary Session: Money (III), Sat. Dec. 17, 1994.

Structural Changes In Cattle Feeding: S.D. Versus Neighboring Major Cattle Feeding States; Livestock Outlook, Donald C. Taylor, Gene Murra

Economics Commentator

No abstract provided.

Markets, The Environment And Liberty: The Case Of Elephants And Air Quality, Gordon L. Brady, Michael L. Marlow

Economics

No Abstract

Allocation And Management Of Foreign Exchange: The Nigerian Experience., O. K. Anifowose

Bullion

This paper intends to discuss and review the various strategies adopted in the management of Nigeria's foreign exchange resources. Part I of the paper reviews the systems adopted before SAP (Structural Adjustment Programme) period as well as those practised from SAP to end of 1993. Part ll considers in broad terms the 1994 foreign exchange resource management policies. While Part lll describes the foreign exchange allocative mechanism adopted in 1994. Finally, part lV provides the summary and conclusion of the paper.

The Role Of The Central Bank In The Nigerian Economy., Paul A. Ogwuma

Bullion

This paper focus on the role of the Central Bank of Nigeria and its contributions in the face of the prevailing unstable macro-economic environment. The paper further provide a brief background on the general objectives of a central bank, especially from the international perspective. The paper projects that year 2000 will see the Central Bank of Nigeria becoming smaller both structurally and functionally. Shedding of some of its developmental activities which can effectively be taken over by other agencies with focus on its stabilization functions which can sustain price stability and restore full confidence to the financial sector. It further …

Sources And Management Of External Reserves In Nigeria., Newman C. Oputa

Bullion

Reserves are all those foreign assets of a country held by the monetary authorities which can be mobilized at period of external imbalances with else and certainty. External reserves are held in the form of "earning assets" notably government's foreign security or in the form of "non earning" liquid assets like gold bars in the vault of Central Banks. ln Nigeria the composition of the extremal reserve consists of gold, IMF reserve tranche, Special Drawing Rights (SDRS) and convertible currencies, The major sources of extremal reserves are derivable from the components of foreign exchange inflows which include: receipt from petroleum, …

Towards A Viable Rural Financial Market In Nigeria., O. O. Akanji

Bullion

This paper analyse the weakness of existing rural financial markets, survey the existing formal and informal financial markets in rural areas, their financing mechanisms, strengths and weaknesses, and propose an agenda from a viable rural financial market in Nigeria. It is divided into four parts. Part 1 presents a critique of the operation of formal financial institutions in rural markets. Part 2 identifies the existing informal financial markets, noting their structure and financing mechanisms and the overall influence on the rural people. Part 3 analyses the challenges and prospects of rural financial markets, while Part 4 presents the conclusion and …

Issues On Macro-Economic Management In Nigeria., Gianni Zanini

Bullion

This paper examines the main source of inflationary pressures, and established the source of destabilization of the exchange and interest rates as the Budget deficit which has been increasing at an unsustainable pace since 1990. It also ascertain that stabilizing the economy will require a significant and sustained budget surplus with no additional domestic bank borrowing. It states that economy stabilization will also require a liberalization of foreign exchange and credit markets.

A Model Of Migration, Thomas Quint, Martin Shubik

Cowles Foundation Discussion Papers

A simple game-theoretic model of migration is proposed, in which the players are animals, the strategies are territories in a landscape to which they may migrate, and the payoffs for each animal are determined by its ultimate location and the number of other animals there. If the payoff to an animal is a decreasing function of the number of other animals sharing its territory, we show the resultant game has a pure strategy Nash equilibrium (PSNE). Furthermore, this PSNE is generated via “natural” myopic behavior on the part of the animals. Finally, we compare this type of game with congestion …

On The Number Of Nash Equilibria In A Bimatrix Game, Thomas Quint, Martin Shubik

Cowles Foundation Discussion Papers

We show that if y is an odd integer between 1 and 2 n - 1, there is an n × n bimatrix game with exactly y Nash equilibria (NE). We conjecture that this 2 n - 1 is a tight upper for n < 3, and provide bounds on the number of NEs in m × n nondegenerate games when min( m,n ) < 4.

The Topological Structure Of Maximal Lattice Free Convex Bodies: The General Case, Imre Bárány, Herbert E. Scarf, David F. Shallcross

Cowles Foundation Discussion Papers

Given a generic m x n matrix A , the simplicial complex K ( A ) is defined to be the collection of simplices representing maximal lattice point free convex bodies of the form { x : Ax < b }. The main result of this paper is that the topological space associated with K ( A ) is homeomorphic with R m -1.

Review Of "The Political Economy Of Tax Reform" By T. Ito And A. O. Krueger, Larry E. Westphal

Economics Faculty Works

No abstract provided.

Ua68/2 Intercambio Internacional, Vol. Xiii, No. 1, Wku Latin American Studies

WKU Archives Records

Newsletter created by WKU Latin American Studies program regarding science, politics and economic advances in Latin America as well as cooperative projects between WKU and universities across Latin America. The newsletter is written in both English and Spanish.

Geauga County Growth Forecast: Study Of Expected Trends To The Year 2005, Donald T. Iannone, Ziona Austrian

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

Notes On: Proposal For A Conference At The University Of "Bergamo", Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

No abstract provided.

Feeding Versus Selling Cull Cows; Marketing Plan Execution, Dillion M. Feuz, Richard Shane

Economics Commentator

No abstract provided.

Monetary Policy: The Inflation-Unemployment Tradeoff, Levy Institute

Archives of the Levy Economics Institute

No abstract provided.

The Financial Instability Hypothesis And Current Common Problems Of Rich Capitalist Economies, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Prepared for presentation at the A. Fausto Vicarelli Lecture at the University of Macerata, Italy.

Also included are the notes for the talk.

State And Local Tax Policy; Non-Trader Use Of Futures: Sell Or Store, Scott W. Fausti, Richard Shane

Economics Commentator

No abstract provided.

Ethics And Capitalism, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Notes for Conference on Ethics and Capitalism held at the Levy Economics Institute.

A New Social Contract For The American Workplace: From Paternalism To Partnering, Murray L. Weidenbaum, Kenneth W. Chilton

Murray Weidenbaum Publications

As American business struggles to cope with global competition, technological breakthroughs, and various forms of deregulation, the workplace is being thrown into turmoil. Against this backdrop, 1994 is also on pace to set a record for publicly announced downsizings, most of them justified under the banner of "restructuring." This study is the first comprehensive look at this evolving picture.

How To Restore Employee Trust In Management: A New Social Contract For The American Workplace, Murray L. Weidenbaum

Murray Weidenbaum Publications

The number of layoffs and the amount of downsizing in corporate America are both happening at unprecedented rates. Firing workers has falsely become the ultimate management tool to success. The old social contract of work in exchange for fair pay and some measure of job security is deteriorating. Accordingly, this paper introduces a new social order that replaces paternalism with partnership, views employees as value-adding resources, and focuses both employers and employees on meeting the customers' needs and desires.

Error Bands For Impulse Responses, Christopher A. Sims, Tao Zha

Cowles Foundation Discussion Papers

We examine the theory and behavior in practice of Bayesian and bootstrap methods for generating error bands on impulse responses in dynamic linear models. The Bayesian intervals have a firmer theoretical foundation in small samples, are easier to compute, and are about as good in small samples by classical criteria as are the best bootstrap intervals. Bootstrap intervals based directly on the simulated small-sample distribution of an estimator, without bias correction, perform very badly. We show that a method that has been used to extend to the overidentified case standard algorithms for Bayesian intervals in reduced form models is incorrect, …

Edgeworth Approximation For Minpin Estimators In Semiparametric Regression Models, Oliver B. Linton

Cowles Foundation Discussion Papers

We examine the higher order asymptotic properties of semiparametric regression estimators that were obtained by the general MINPIN method described in Andrews (1989). We derive an order n –1 stochastic expansion and give a theorem justifying order n – 1 distributional approximation of the Edgeworth type.

Failed And Successful Capitalisms: Lessons From The Twentieth Century, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

A talk prepared for the Jerome Levy Economics Institute Series at Bard College. To be delivered Nov. 10, 1994. Upload version is dated after the Series.Presumably, the 7 November paper was the one delivered.

The Economics Of Controls And Deregulation: The Nigerian Case Study, M. O. Ojo

CBN Occasional Papers

The abandonment of economic controls and the adoption of deregulatory measures in the mid-1 980s were expected to usher in economic recovery and sustained growth in Nigeria. In the wake of the apparent failure of the adopted policy regime to attain that primary goal, there Is a need to investigate the efficacy of the policy instruments adopted and the fundamental causes of persistent economic downturn. The paper reviews Nigeria’s experiences in the use of economic control tools and measures of liberalisation, as well as the international evidence. A major finding of the study is that the programme of deregulation was …

Comparative Efficiencies: National And Military Service, John Sondey

Economics Staff Paper Series

The National Service Act of 1993 is viewed as a means of inculcating a sense of personal and social responsibility in young adults. The present emphasis on fiscal responsibility and budget reduction implies that any new expenditure program be funded by either: (a) reductions in present programs; or, (b) new taxes. As new taxes are regarded as "politically incorrect" by legislators seeking to extend their tenure, program cuts become mandatory. It is proposed that military downsizing is one means of funding national service; and that the tradeoff is suboptimal. Downsizing adversely affects minorities and the least skilled - who benefit …

The Influence Of International On Union Firm Hiring And Worker Union Choice, Dwight Adamson, Mark Partridge

Economics Staff Paper Series

Union opposition to free trade policies suggests that international trade damages the union movement. Previous research has found little relationship between union wages and international trade. However, greater trade may hinder unions by reducing the likelihood that workers enter the union sector. A bivariate partial observability probit model is used to predict union choice with respect to risk aversion, union strategic behavior, and product market effects of trade. The model estimates the probability of workers entering the union sector queue and the probability of being hired from the union queue. The results suggest that trade has had some adverse effects …

Regulation And Supervision, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

This paper is the final copy. Notes for it are also available.