Digital Commons Network^™

Answering The Arguments Against The Consumption Tax, Murray L. Weidenbaum

Murray Weidenbaum Publications

By shifting U.S. taxation from income to consumption, more revenue would be generated for the U.S. Treasury. This would also enable the American people to enjoy a higher living standard.

Strengthening Israel's Economy, Murray L. Weidenbaum

Murray Weidenbaum Publications

The Israeli economy is very socialized and heavily regulated. Because of this, it suffers from slow growth and high inflation. To change this, Israel needs to become much more privatized.

Pharmaceutical Regulation And Productivity Challenges, Murray L. Weidenbaum

Murray Weidenbaum Publications

With the costs of pharmaceuticals increasing, steps need to be taken to modernize the approach process in order to reduce the cost of developing new medicines and increase the availability of new and better pharmaceuticals.

Responding To Foreign Competition: Overcoming Government Barriers, Murray L. Weidenbaum, Harvey S. James Jr

Murray Weidenbaum Publications

For a variety of reasons, governments erect barriers to international trade. In order to survive in the global marketplace, companies, therefore, need to overcome these barriers, whether by exporting, acquiring other firms, or entering strategic alliances with other businesses.

Statewide Wage Survey_September 1992, New Mexico Department Of Labor

Historic Publications

New Mexico Statewide Wage Survey of September 1992.

Tjalling Charles Koopmans (August 28, 1910–February 26, 1985), Herbert E. Scarf

Cowles Foundation Discussion Papers

Tjalling C. Koopmans made fundamental contributions to economics. This paper, prepared for a National Academy of Sciences volume of memoirs, provides a biographical sketch of this extraordinary individual.

Poverty In Relation To Macroeconomic Trends, Cycles, And Policies, James Tobin

Cowles Foundation Discussion Papers

This survey concludes that general prosperity and economic growth have been considerably less powerful engines of progress against poverty in the U.S. than they were before 1973. Macroeconomic performance has deteriorated, and its relation to poverty has weakened too. It is shown that the incidence of poverty can be fairly well explained by regressions on unemployment rates and real wages, both in national time series and in state cross-sections. Recent downward deviations from these regressions appear to reflect structural labor market changes that make poverty less treatable by macro medicine.

Is Gold An Efficient Store Of Value?, Pradeep Dubey, John Geanakoplos, Martin Shubik

Cowles Foundation Discussion Papers

Gold and tobacco have both been used as money. One difference between the two is that gold yields utility, on account of its beauty, without diminishing its quantity. Tobacco yields utility when it is consumed. If this were the only difference, which would be the better money?

Growth-Oriented Structural Adjustment Programs For Egypt, Mona Abdel Salam Said

Archived Theses and Dissertations

No abstract provided.

The Structure Of Financial Institutions And The Dynamic Behavior Of The Economy, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

No abstract provided.

New Mexico Labor Market Review 08-31-1992, New Mexico Department Of Labor

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers July 1992.

The Ceo Council Retention Survey: Results Of 1992 Survey, George A. Erickcek, Norman Terry, Perry K. Wolfe

Reports

No abstract provided.

Assessing Environmental And Economic Aspects Of Farming; Livestock Outlook, John D. Cole, Burton Pflueger, Gene E. Murra

Economics Commentator (1972- 2016)

No abstract provided.

Salient Attributes Of Post- Keynesian Economics, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Four versions of the paper. The first is dated August 9, 1992. The second, March 1, 1993, the third, March 3, 1993, and the fourth, March 8, 1993.

Banks And Banking, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Chapter 13-Part 3, excerpt dated Aug. 5, 1992, in Stabilizing an Unstable Economy.

Policy, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Chapter 13?-Part 5: “Policy," Excerpt dated Aug. 5, 1992, in Stabilizing an Unstable Economy: A Twentieth Century Fund Report. New Haven, CT: Yale University Press, 1986.

A Study Of Kentucky’S Agricultural Performance Using Shift-Share Analysts, David Neal Cundiff

Masters Theses & Specialist Projects

In this paper the theory that Kentucky has a comparative advantage in agricultural employment, when compared to the United States, is examined. In order to test this hypothesis, a dynamic shift-share analysis was conducted using the thirteen major economic sector of Kentucky over the period 1970 to 1989. The resulting regional shift components, or competitive components, give support to the theory that a comparative advantage for Kentucky in agriculture does exist. Annual regional shift components, as well as their dynamic counterpart, possess predominately positive values, indicating outperformance by Kentucky’s agricultural sector when compared to the United States economy as a …

Does Sex Discrimination Exist In Faculty Salaries At Western Kentucky University? An Empirical Examination Of The Wage Gap, Reed Vesey

Masters Theses & Specialist Projects

This thesis examines wage differentials between male and female faculty salaries at Western Kentucky University. A human capital model of salary determination is examined by using regression analysis on relevant personal and job characteristics of faculty members. A large portion of the wage gap between men and women is explained through differences in the personal and job characteristics. A portion of the wage gap remains unexplained, however, the probability of discrimination playing a substantial role in salary is very small.

Bayes Methods For Trending Multiple Time Series With An Empirical Application To The Us Economy, Peter C.B. Phillips

Cowles Foundation Discussion Papers

Multiple time series models with stochastic regressors are considered and primary attention is given to vector autoregressions (VAR’s) with trending mechanisms that may be stochastic, deterministic or both. In a Bayesian framework, the data density in such a system implies the existence of a time series “Bayes model” and “Bayes measure” of the data. These are predictive models and measures for the next period observation given the historical trajectory to the present. Issues of model selection, hypothesis testing and forecast evaluation are all studied within the context of these models and the measures are used to develop selection criteria, test …

Workplace Education Programs In Small- And Medium-Sized Michigan Firms, Kevin Hollenbeck, William Anderson

Upjohn Institute Working Papers

This paper presents a systematic, baseline picture of workplace education programs in small and medium-sized businesses (less than 500 employees) in Michigan. Specifically, it addresses why some firms are offering and other firms are not offering workplace education programs, what are the characteristics of the programs being provided, and what are the impacts of these programs on firms and employees. The paper draws upon two data sources. Case studies of 28 Michigan businesses were undertaken between May 1991 and July 1992 and a combination mail/telephone survey of small businesses in Michigan was conducted in early 1992. The paper finds that …

Bayes Models And Forecasts Of Australian Macroeconomic Time Series, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper provides an empirical implementation of some recent work by the author and Werner Ploberger on the development of “Bayes models” for time series. The methods offer a new data-based approach to model selection, to hypothesis testing and to forecast evaluation in the analysis of time series. A particular advantage of the approach is that modelling issues such as lag order, parameter constancy, and the presence of deterministic and stochastic trends all come within the compass of the same statistical methodology, as do the evaluation of forecasts from competing models. The paper shows how to build parsimonious empirical “Bayes …

Approximately Median-Unbiased Estimation Of Autoregressive Models With Applications To U.S. Macroeconomic And Financial Time Series, Donald W.K. Andrews, Hong-Yuan Chen

Cowles Foundation Discussion Papers

This paper introduces approximately median-unbiased estimators for univariate AR( p ) models with time trends. Confidence intervals also are considered. The methods are applied to the Nelson–Plosser macroeconomic data series, the extended Nelson–Plosser macroeconomic data series, and some annual stock dividend and price series. The results show that most of the series exhibit substantially greater persistence than least squares estimates and some Bayesian estimates suggest. For example, for the extended Nelson–Plosser data set, eight of the fourteen series are estimated to have a unit root, while six are estimated to be trend stationary. In contrast, the least squares estimates indicate …

New Mexico Labor Market Review 07-31-1992, New Mexico Department Of Labor

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers June 1992.

Financial Instability And Apt Bank Supervision, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Paper prepared for the 67th Annual Western Economics Association (WEA) Conference. Session: ‘Monetary Policy and Bank Supervision’, Friday, July 10, 1992 8:15-10:00 am, Hyatt Regency Hotel, San Francisco, California.

Also included here as a supplement is an outline presumably for his paper presentation.

The Demand For Money Function In Nigeria: An Empirical Investigation, F.O. Oresotu, C.N.O. Mordi

CBN Occasional Papers

This paper provides further empirical evidence on the nature of the demand for money function in Nigeria for the period 1960-1991. The paper also addressed the issue of the appropriate adjustment process, structural stability of the estimated equations, as well as the influence of external factors on money demand function in an open economy, such as Nigeria. The main conclusions which emerged from the analysis are that, the real adjustment mechanism appeared to be the most appropriate adjustment process for modelling money demand in Nigeria; the influence of external variables like the foreign interest rate and exchange rate should not …

On The Periodic Structure Of The Business Cycle, Eric Ghysels

Cowles Foundation Discussion Papers

In this paper, we test whether a regime shift from expansion to recession and vice versa is, ceteris paribus , equally likely throughout the year. If not, then it may, for instance, be less likely to get out of a recession in the middle of the winter than it is, say, in the spring or summer. We make use of Markov switching regime models to test the hypothesis of interest. The evidence is based on the conventional NBER business cycle chronology as well as alternatives to it. We find that recessions exhibit a periodic pattern in their switching regime transition …

Farm Management Innovators: Characteristics Of Eastern South Dakota Farm Operations; Wheat Outlook, Douglas Franklin, Abdirizak Ahmed, Dick Shane

Economics Commentator (1972- 2016)

No abstract provided.

Interpretation Of Interpersonal Utility Comparisons: Positive, Normative Or Descriptive, John B. Davis

Economics Faculty Research and Publications

While interpersonal utility comparisons are indispensable to the determination of utility maxima, their interpretation as either normative or positive produces awkward conclusions. This paper alternatively reinterprets interpersonal utility comparisons as descriptive and value-laden rather than as either normative or positive. On this basis they are characterized as functional concepts, and are thus argued to be objective. This treatment suggests that it is possible to derive evaluative statements from descriptive ones, contrary to the usual view of the is-ought problem. Recent philosophy of language results are employed to support these views.

The Case For Taxing Consumption, Murray L. Weidenbaum

Murray Weidenbaum Publications

This piece points out the benefits of taxing consumption instead of income.

Bayesian Model Selection And Prediction With Empirical Applications, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper builds on some recent work by the author and Werner Ploberger (1991, 1994) on the development of “Bayes models” for time series and on the authors’ model selection criterion “PIC.” The PIC criterion is used in this paper to determine the lag order, the trend degree, and the presence or absence of a unit root in an autoregression with deterministic trend. A new forecast encompassing test for Bayes models is developed which allows one Bayes model to be compared with another on the basis of their respective forecasting performance. The paper reports an extended empirical application of the …