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Debt And Business Cycles, Hyman P. Minsky Ph.D., Mark D. Vaughan Ph.D.

Hyman P. Minsky Archive

No abstract provided.

Vol. 13 No. 3 (1990): Pacific Studies Full Issue, The Jonathan Nāpela Center For Hawaiian And Pacific Islands Studies

Pacific Studies

Pacific Studies is published two times a year by The Jonathan Nāpela Center for Hawaiian and Pacific Studies, Brigham Young University Hawai‘i #1979, 55–220 Kulanui Street, Lāʻie, Hawai‘i 96762, but responsibility for opinions expressed in the articles rests with the authors alone. Subscription rate is US$40.00 yearly, payable to The Jonathan Nāpela Center for Hawaiian and Pacific Studies. The Jonathan Nāpela Center for Hawaiian and Pacific Studies (formerly The Pacific Institute) is an organization funded by Brigham Young University Hawai‘i. The Center assists the University in meeting its cultural and educational goals by undertaking a program of teaching, research, and …

Testing Covariance Stationarity Under Moment Condition Failure With An Application To Common Stock Returns, Peter C.B. Phillips, Mico Loretan

Cowles Foundation Discussion Papers

This paper studies tests for covariance stationarity under conditions which permit failure in the existence of fourth order moments. The problem is important because many econometric diagnostics such as tests for parameter constancy, constant variance and ARCH and GARCH effects routinely rely on fourth moment conditions. Moreover, such tests have recently been extensively employed with financial and commodity market data, where fourth moment conditions may well be quite tenuous and are usually untested. This paper considers several tests for covariance stationarity including sample split prediction tests, cusum of squares tests and modified scaled range tests. When fourth moment conditions fail …

Operational Algebra And Regression T-Tests, Peter C.B. Phillips

Cowles Foundation Discussion Papers

Data reduction involves a physical transition from sample data to econometric estimator and test statistic. This transition induces a mapping on the probability law of the sample, whose image is the distribution of the statistic of interest. At a general level, the mapping can often be captured by means of an operational algebra. Some methods than employ nonlinear functions of differential operators are suggested which can perform this task. The methods are related to pseudodifferential operator techniques that are used in abstract mathematics to solve systems of partial differential equations. They also generalize the fractional calculus methods developed by the …

A Shortcut To Lad Estimator Asymptotics, Peter C.B. Phillips

Cowles Foundation Discussion Papers

Using generalized functions of random variables and generalized Taylor series expansions, we provide almost trivial demonstrations of the asymptotic theory for the LAD estimator in a regression model setting. The approach is justified by the smoothing that is delivered in the limit by the asymptotics, whereby the generalized functions are forced to appear as linear functionals wherein they become real valued. Models with fixed and random regressors, autoregressions and autoregressions with infinite variance errors are studied. Some new analytic results are obtained including an asymptotic expansion of the distribution of the LAD estimator and the results of some earlier simulation …

To Criticize The Critics: An Objective Bayesian Analysis Of Stochastic Trends, Peter C.B. Phillips

Cowles Foundation Discussion Papers

In two recent articles, Sims (1988) and Sims and Uhlig (1988) question the value of much of the ongoing literature on unit roots and stochastic trends. They characterize the seeds of this literature as “sterile ideas,” the application of nonstationary limit theory as “wrongheaded and unenlightening” and the use of classical methods of inference as “unreasonable” and “logically unsound.” They advocate in place of classical methods an explicit Bayesian approach to inference that utilizes a flat prior on the autoregressive coefficient. DeJong and Whiteman adopt a related Bayesian approach in a group of papers (1989a,b,c) that seek to reevaluate the …

The Impact Of The Caribbean Basin Economic Recovery Act On Caribbean Nations Exports And Development: A Comment, W. Charles Sawyer, Richard L. Sprinkle

Faculty Publications

No abstract provided.

Vol. 13 No. 3 (1990): Pacific Studies Front Matter, The Jonathan Nāpela Center For Hawaiian And Pacific Islands Studies

Pacific Studies

Pacific Studies is published two times a year by The Jonathan Nāpela Center for Hawaiian and Pacific Studies, Brigham Young University Hawai‘i #1979, 55–220 Kulanui Street, Lāʻie, Hawai‘i 96762, but responsibility for opinions expressed in the articles rests with the authors alone. Subscription rate is US$40.00 yearly, payable to The Jonathan Nāpela Center for Hawaiian and Pacific Studies. The Jonathan Nāpela Center for Hawaiian and Pacific Studies (formerly The Pacific Institute) is an organization funded by Brigham Young University Hawai‘i. The Center assists the University in meeting its cultural and educational goals by undertaking a program of teaching, research, and …

Contributors: Vol 13 No. 3, The Jonathan Nāpela Center For Hawaiian And Pacific Islands Studies

Pacific Studies

Contributors list of Vol. 13 (1990): Pacific Studies Full Issue 3

Industrial Policy In An Export-Propelled Economy: Lessons From South Korea's Experience, Larry E. Westphal

Economics Faculty Works

Korea provides an illuminating case of state intervention to promote economic development. Like many other third world governments, Korea's government has selectively intervened to affect the allocation of resources among industrial activities. It has used taxes and subsidies, credit rationing, various kinds of licensing, and the creation of public enterprises, for example. But these policies have been applied in the context of a radically different development strategy, one of export-led industrialization. Moreover, Korea's economy has experienced exceptionally rapid development with relatively equitable distribution of the gains. This paper argues that the government's selective industrial policies have contributed importantly to Korea's …

The Displacement Effect Of Reemployment Bonus Programs, Carl Davidson, Stephen A. Woodbury

Upjohn Institute Working Papers

This paper explores whether reemployment bonuses--cash payments made to insured unemployed workers who find reemployment quickly--have the unintended consequence of displacing workers who are not covered by the bonus program. We develop two partial equilibrium matching models of the labor market, patterned after the work of Diamond (1982), Mortensen (1982), and Pissarides (1984). In the first model, wages are assumed exogenous, in the second endogenous. In both, we find that the direct substitution of covered for uncovered workers (which constitutes displacement) is countered by two offsetting effects : a gross job creation effect, which results from the increased search effort …

Review Of Perestroika And The Economy: New Thinking On Soviet Economics By Anthony Jones And William Moskoff, Abdur Chowdhury

Economics Faculty Research and Publications

No abstract provided.

Threats And Opportunities In The International Economy, Murray L. Weidenbaum, Mark Jenson

Murray Weidenbaum Publications

The United States remains a military and an economic superpower. But in order to compete in the international economy, Americans need to be a well-educated citizenry.

Mathews County Shipbuilding Patterns, 1780-1860, Peter Jennings Wrike

History Theses & Dissertations

This thesis examines the volume and characteristics of a Chesapeake Bay county's shipbuilding activity to assess its impact on American waterborne commerce. The thesis proposes that this county built a significant number of fast sailing vessels in the late eighteenth and early nineteenth centuries. Previous works on American shipbuilding as well as regional histories have overlooked this county and concentrated on nearby large ports such as Norfolk and Baltimore. This thesis suggests these ports acted more as vessel brokers to the maritime industry than manufacturers and that this county was, among other small bay counties, a major contributor to that …

New Mexico Labor Market Review 06-30-1990, New Mexico Department Of Labor

Historic Publications

The New Mexico Labor Market Review was prepared by the New Mexico Department of Labor in cooperation with U.S. Bureau of Labor Statistics for May of 1990. It is a report on the state's employment and economic activity.

Job Search Outcomes For The Employed And Unemployed, David M. Blau, Philip K. Robins

Economics Articles and Papers



This paper examines how four components of the job search process--the choice of search methods, the choice of how many firms to contact, the rate at which offers are received, and the acceptance or rejection of an offer--influence the job-finding rate. A reduced-form model of job search is estimated that takes account of the fact that users of a particular method of job search are not a random subset of all searchers. The empirical analysis focuses on differences in search behavior between the employed and unemployed. A key finding of the analysis is that the offer rate per contact …

Economic Characteristics Of The Nursery-Greenhouse Sector In Connecticut, Wayne Gineo, Manda Rao

Storrs Agricultural Experiment Station

No abstract provided.

Sustainable Balance Of Trade Deficits, Eric O'N. Fisher

Economics

This paper analyzes a model of overlapping generations in which there are two currencies. There are two agents born in each period, and these agents have completely heterogeneous preferences and endowments. The paper shows that there are monetary equilibria in which one country can sustain a trade deficit whose present value is arbitrarily close to that of its trading partner's entire stream of resources. Hence, there may be no limit to the present value of a country's trade deficit, even if the equilibrium for the world economy satisfies an intertemporal efficiency criterion.

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

WKU Administration Documents

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.

Voluntary Agency, Irrigation Corporative And Tribal Development: A Case Study Of Panchmahal District In Gujrat, India, S Satish

IIMB Management Review

No abstract provided.

Metropolitan Housing Market: A Study Of Ahmedabad By Meera Mehta And Dinesh Mehta, New Delhi: Sage Publication, 1989., Vinod K Tewari

IIMB Management Review

No abstract provided.

The Generalized Basis Reduction Algorithm, Herbert E. Scarf, László Lovász

Cowles Foundation Discussion Papers

Let F ( x ) be a convex function defined in R n , which is symmetric about the origin and homogeneous of degree 1, and let L be the lattice of integers Z n . A definition of a reduced basis, b 1 , …, b n , of the lattice with respect to the distance function F is presented, and we describe an algorithm which yields a reduced basis in polynomial time, for fixed n. In the special case in which the bodies { x : F ( x ) < t } are ellipsoids, the definition of a reduced basis is identical with that given by Lenstra, Lenstra and Lovasz (1982) and the algorithm is the well known basis reduction algorithm. We show that the basis vector b 1 , in a reduced basis, is an approximation to a shortest non-zero lattice point with respect to F and relate the basis vectors b i to Minkowski’s successive minima. The results lead to an algorithm for integer programming which executes in polynomial time for fixed n, but which avoids the ellipsoidal approximation required by Lenstra’s algorithm. We also discuss the properties of a Korkine-Zolotarev basis for the lattice.

The Frobenius Problem And Maximal Lattice Free Bodies, Herbert E. Scarf, David F. Shallcross

Cowles Foundation Discussion Papers

Let p = ( p 1 ,…, p n ) be a vector of positive integers whose greatest common divisor is unity. The Frobenius problem is to find the largest integer f * which cannot be written as a non-negative integral combination of the p i . In this note we relate the Frobenius problem to the topic of maximal lattice free bodies and describe an algorithm for n = 3.

Application Of Fuzzy Set Technique To Agricultural Planning, S Kumar, Narasingh Misra, B C Ghosh

IIMB Management Review

In India, agriculture remains the dominant sector of economic activity with 74 percent work force depending on it. But the share of income from agriculture sector is less than the employment in it. Also the menace of unemployment and food requirement is increasing with growing population. Hence , there is a great need for increasing production and net profit levels on one hand and employment generation on the other. Irrigation planning plays an .mportant role in increasing agricultural production, net benefit, employment generation etc. as only 32 percent of the total cultivated area is irrigated in our country. Irrigation Planning …

Wetlands Provisions In The 1985 And 1990 Farm Bills, F. Gregory Hayden

Department of Economics: Faculty Publications

In 1984, my national agricultural policy article surprised some readers because its first concern was with policy regarding the natural environment [Hayden 1984]. Others thought it contained the policy agenda that agricultural policymakers could expect in the future. The future came more quickly than most expected when the 1985 Farm Bill (Food Security Act) included provisions to limit harmful impacts of the agriculture industry on the environment. The purpose of this article is to explore the importance, success, and future of the Swampbuster provision that was intended to protect wetlands in the United States from further agricultural destruction.

The Egyptian Trade Union Movement Under Nasser And Sadat, Nevine Naguib Youssef

Archived Theses and Dissertations

No abstract provided.

The Pattern Of Foreign Financed Projects In The Sinai Peninsula, Hanan Salah El Din Soliman

Archived Theses and Dissertations

No abstract provided.

Tax Rates And Tax Evasion: Evidence From California Amnesty Data, Steven E. Crane, Farrokh Nourzad

Economics Faculty Research and Publications

The effect of marginal tax rates on income tax evasion is examined using data from the California Tax Amnesty Program, which provided amnesty for people who had not filed returns, had filed inaccurate returns, or were delinquent in paying their tax liabilities. People under criminal investigation were not eligible. After correcting for the selectivity bias, it was found that tax evaders respond to higher marginal tax rates by increasing their evasion activity. The results also confirm the theoretical prediction that people with higher levels of income tend to evade more. The absolute and relative sizes of income and tax rate …

Population And Employment Projections_Jun 1990, University Of New Mexico Bureau Of Business And Economic Research

BBER Publications

The report serves as a planning resource for state agencies, local governments, educators, and businesses by estimating future population growth, aging patterns, migration trends, and labor-force implications across all 33 New Mexico counties.

Dapro Population And Employment Project_June 1990, University Of New Mexico Bureau Of Business And Economic Research

BBER Publications

The report uses a cohort-component demographic model and employment-driven migration assumptions to estimate population and labor-force change across all 33 New Mexico counties through 2010.