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Existence Of Walras Equilibrium Without A Price Player Of Generalized Game, John Geanakoplos, Pradeep Dubey

Cowles Foundation Discussion Papers

We derive the existence of a Walras equilibrium directly from Nash’s theorem on noncooperative games. No price player is involved, nor are generalized games.

A Nonparametric Maximum Rank Correlation Estimator, Rosa L. Matzkin

Cowles Foundation Discussion Papers

This paper presents a nonparametric and distribution-free estimator for the function h*, of observable exogenous variables, x, in the generalized regression model, y - G(h*(x), mu). The method does not require a parametric specification for either the function h* or for the distribution of the random term mu. The estimation proceeds by maximizing a rank correlation criterion (Han (1987)) over a set of functions that are monotone increasing, concave, and homogeneous degree one; the function h* is assumed to belong to this set of functions. The estimator is shown to be strongly consistent.

An Introduction To General Equilibrium With Incomplete Asset Markets, John Geanakoplos

Cowles Foundation Discussion Papers

I survey the major results in the theory of general equilibrium with incomplete asset markets. I also introduce the papers in this volume and offer a few suggestions for further work.

Neighbors Of The Origin For Four By Three Matrices, David F. Shallcross

Cowles Foundation Discussion Papers

Scarf has defined a neighborhood system for families of integer programs where the right-hand side is allowed to vary. This system depends on a matrix A of constraint and objective function coefficients of the integer programs. This paper characterizes the set of neighbors of the origin when A is four by three; showing that it may be described as the set of integer vectors in a union of two-dimensional polyhedra, where the number of polyhedra is quadratic in the bit size of A .

Nigeria's Insurance Industry In 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

Important rughlights of the report include the fact that Insurance business was prosperous in 1987 as the income of insurers rose significantly faster than their expenditures. However, the prosperity affected the companies in the nonlife business more as the premium income of life insurance companies declined sharply in 1987 during which period their expenditure also increased. In terms of ownership, the prosperity accrued mainly to wholly indigenous non-life companies most, as these companies dominated the more lucrative aspects of insurance business in 1987. Another important point in the report is the fact that minimum paid-up capital stipulated in the Insurance …

Developments In The Agricultural Sector During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

There was a renewed optimism during the quarter that substantial growth in output could occur during the year, if the improvement in weather conditions and production environment was sustained. Available data showed that average monthly rainfall during the quarter was 177.53mm, representing a substantial rise over the 15 .4mm of the preceding quarter (which experienced an unusually prolonged dry spell) and about 18.3 per cent over the level of 150.1mm in the corresponding period of 1988. The distribution pattern showed that all the states of the Federation recorded rains during the quarter.

Developments In The Industrial Sector In The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

Aggregate industrial output improved during the second quarter of the year in spite of the problems of high production costs and liquidity constraints. The index of industrial production at 225.6 (1972 = 100) increased by 6.7 and 3.6. per cent over its levels 'in the corresponding quarter of 1988 and the first quarter of 1989, respectively (see table I). Compared with its level in the corresponding quarter of 1988, the rise in industrial output was accounted for by the respective increases of 20.6 and 2.4 per cent in mining and manufacturing output which outweighed the decline of 2.8 per cent …

Private Business In Developing Countries: Improved Prospects By Guy P. Pfeffermann, M. Ajayi

Economic and Financial Review

The paper is divided into five sections as follows: Background. Growth prospects, Prospects for the Private sector in Developing countries. Privatisation, and Foreign Direct Investment. The background section appraised some of the economic policies pursued and developments in developing countries in the last 2 decades. The section emphasised the existence of interdependence of the effect of economic policies and conditions of the developed and developing countries. For instance, the author stressed that the recent slow-down of growth in IJie developing countries has been one of the factors holding back the growth of output in the OECD countries.

The Political Economy Of Welfare, Nancy E. Rose

The Journal of Sociology & Social Welfare

Analyses of the U.S. welfare system in the tradition of political economy have tended to focus on the maintenance of a pool of low-wage labor. This paper adds another dimension, as it incorporates government work programs into a theory of the functions and nature of the U.S. welfare system. Three dimensions of the welfare system are posited: (a) maintaining a stigma attached to welfare so that people are encouraged to hold low-wage jobs: (b) maintaining welfare payments at levels that do not interfere with the functioning of labor markets; and (c) basing government work programs on principles that are congruent …

On Integer Points In Polyhedra: A Lower Bound, Imre Bárány, Roger Howe, László Lovász

Cowles Foundation Discussion Papers

Given a polyhedron P subset R n we write P I for the convex hull of the integral points in P. It is known that P I can have at most O(ϕ n-1 ) vertices if P is a rational polyhedron with size ϕ. Here we give an example showing that P I can have as many as Ω(ϕ n-1 ) vertices. The construction uses the Dirichlet unit theorem.

Developments In The Financial System During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

The financial system was under intense pressure in the second quarter of 1989 following the measures adopted by the monetary authorities to reduce the liquidity of the banking system and thereby combat the inflationary pressure in the economy and continued depreciation of the Naira exchange rate. The gradual strengthening of the squeeze on liquidity was accompanied by liquidity crisis among some banks towards the end of the quarter.

Stock Market Report For The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

The main event that dominated the transactions on the Nigerian Stock Exchange during the second quarter, 1989 was the compulsory transfer of the accounts of ministries and parastatals from the commercial and merchant banks to the CBN. In an attempt to raise their liquidity positions the banks and other private holders of Federal Government Development Stocks unloaded their holdings of the stocks on the Exchange. Consequently, the total volume of stocks traded rose from 14.9 million in 6558 deals during the first quarter of 1989 to 270.9 million in 8307 deals in the quarter under review. Compared with the corresponding …

Developments In The Retail Prices Of Selected Consumer Items In Lagos Area During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

The results obtained from the price surveys of selected consumer items in the Lagos Area during the second quarter of 1989, indicated an upward movement in the prices of most of the items sampled. While some items recorded modest price declines below the level in the first quarter of 1989, these declines were not enough to offset the increases noticed in all the component price indices. Most of the traders interviewed during the surveys attributed the increase in prices mainly to rising costs of production inputs, and transportation as well as excess demand pressures on agricultural commodities.

Developments In The External Sector During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

The pressure on the external sector eased considerably in the second quarter of 1989 as foreign exchange flows into. and out of the economy indicated a turn around from a net outflow of 'fijl .7 million in the second quarter of 1988 to a net inflow of $245 .0 million. The improvement was attributed to increased earnings by the oil sector due to the rise in crude oil prices and export volume, increased drawings on external loans, decline in debt service and reduced funding of the foreign exchange market. However, the position represented a deterioration when compared with the net …

The Evolution Of The Nigerian Financial System: Problems, Challenges And Prospects, Ben A. Oke

Economic and Financial Review

The paper reviews the evolution of the Nigerian financial system and articulates some of its current problems and challenges for the future, especially in the light of the liberalised trade and exchange regime initiated under the Structural Adjustment Programme (SAP). The paper examines the evolution of the major institutions in the financial system in the context of the changing pattern of economic and regulatory environment in which they operate. It observes that the financial system has undergone substantial changes since 1960 in terms of number and variety of financial intermediaries, the depth and breadth of instruments, as well as the …

Nigeria's External Debt Problems: A Review Of Management Efforts And The Prospects, M. O. Ojo

Economic and Financial Review

This article provided the most recent information on efforts being made to reduce Nigeria's huge external debt burden. In order to evaluate such efforts, it discussed both theoretical and practical issues on the international management of the debt crisis. It was observed that the wide gulf between the debtor countries and the creditors, especially the commercial banks has been significantly bridged in the last three years. The article noted that while Nigeria has made commendable progress in reducing her debt burden, a lot more still needs to be done to make the efforts to have the desirable positive impact. More …

Towards A Single Monetary Zone In The Ecowas Sub-Region: A Progress Report, S. E. Omoruyi

Economic and Financial Review

The call for a common currency for the West African sub-region has been considered generally as a veritable vehicle for achieving the primary objective of establishing exchange arrangements for free intra-regional payments. Such arrangements are deemed necessary to promote faster growth of intra-regional trade, and thereby foster economic development in the ECOWAS sub-region. Pursuant to this objective, the Authority of the Heads of State and Government of ECOWAS took a decision that studies be commissioned on the possibility of creating a single monetary zone in ECOWAS sub-region. Following that decision, the Committee of Governors of Central Banks of ECOWAS at …

Africa's Adjustment And Growth In The 1980s: The World Bank And The Undp; Charles Humphreys And Williams Jaeger & C0., 31pp., March 1989, H. N. Okonta

Economic and Financial Review

The paper, "'Africa's Adjustment and Growth in the 1980s" was written by a team led by Charles Humphreys and William Jaeger of the World Bank. They reviewed on Sub-Saharan Africa's economic experience in the 1980s from a new perspective as against that which was generally perceived as one of crisis and decline caused largely by hostile external factors. The paper was divided into six parts. Part one is an overview of the causes that led to the region's current problems. Sections 2, 3 and 4 analytically dis,:uss the developments in trade and commodity prices, the international community's response with more …

Statistics (June 1989), Central Bank Of Nigeria Cbn

Economic and Financial Review

This a statistical representation of the economic activities in Nigeria in June 1989

Institutionalism For What: To Understand Inevitable Progress Or For Policy Relevance?, F. Gregory Hayden

Department of Economics: Faculty Publications

In two recent papers, Anne Mayhew challenged the approach and purpose of institutionalism [Mayhew 1987a, 1987b]. Her message was that institutionalism should be concerned with describing cultures in order to understand the inevitable flow of human progress, and should not be undertaking analysis for the purpose of social evaluation and policy. The purpose of this article is to demonstrate the insufficiency of the base upon which that message was constructed.

Work And Welfare: How Industrialists Shaped Government Social Service During The Progressive Era, Cynthia Hamilton

The Journal of Sociology & Social Welfare

This article focuses on the welfare work of industrialists which was developed as a mechanism for fighting trade unionism during the Progressive era. This focus is designed to place welfare in its proper perspective within the political economy and to identify its political and economic functions. The article concludes that industrial welfare was one of the instruments used in creating a work ethic in the United States and one of the mechanisms of social engineering both in and outside of industry.

The Case Against Another Business-Government Partnership, Murray L. Weidenbaum

Murray Weidenbaum Publications

This policy paper examines the myths surrounding business-government partnerships or federal bailouts. It also provides some insights into what does work in their place. Democratic political systems were not built to make critical choices between particular firms or industries in a competitive market. Business-government partnerships do just that.

[Introduction To] The Medical Offset Effect And Public Health Policy: Mental Health Industry In Transition, Jonathan B. Wight, John L. Fiedler

Bookshelf

Does the timely treatment of mental illness result in a drop in the cost of health care, and if so, what is the cost effectiveness? This study provides an overview, synthesis, and analysis of the medical offset effect. It demonstrates that a medical offset effect does exist and the size of the effect is significant. A behavioral model provides a precise method for ascertaining the dimensions of medical offset and an explanation of the underlying causal relationships. The offset effect for an important population group is analyzed through the use of Medicaid patient data from Georgia and Michigan. This clear, …

A Study Of Employee Alcohol And Drug Abuse Programs, Phyllis E. Waters

Theses

This study is primarily concerned with drugs and alcohol in the workplace, the range and impact of chemical abuse and how companies are coping with this problem.

The purpose of this study is to study organizations which have formal employee assistance or drug rehabilitation programs and what kind of impact such programs have on reducing drug abuse in the work place.

The first chapter tells the history of these early occupational programs and how they evolved into what is commonly known today as Employee Assistance Programs. It also explains how alcoholism and drug abuse became accepted as a disease.

The …

Obstacles To Women Seeking Management Careers : What They Are, And How American Companies And Women Confront Them, Lih-Fang Chiou

Theses

The thesis focuses on the obstacles faced by women who enter management. It is understood from the literature that the obstacles facing women can be attributed to societal issues or external factors, and to internal obstacles which arise from the perception women have of themselves and their position in the labor force.

The purpose of this research is not to identify all of the obstacles. The focus, instead, is on how women and management respond to the obstacles and how they have created access to senior management positions.

In choosing a managerial career, the critical mission for women executives is …

A Study Of Techniques Of Performance Evaluation, Moses Oyewolfe Ogungbenro

Theses

Performance evaluation is a process that every one goes through in life. One may be the rater or the ratee. One of the basic questions an organization usually asks in establishing or revising a performance evaluation system is: What should the system accomplish, or what should be the technique to be used? The answer to this question varies from organization to organization. Today, we live in a world of organizations, each of us still makes many personal appraisals and subsequently, choices. For instance, we choose doctors, hairdressers, business advisors and others, largely on the basis of our judgements of their …

Strategic Planning For Management Information System, Hsiu-Li Tsai

Theses

The scope of this thesis is to study the strategic and long term planning in Management Information Systems. How can it be better satisfied to support the multinational business environment. A growing number of corporations are using computer-based information systems to manage their global businesses, the growing penetration of mini-and micro computers in the office and administrative environment, have created more attention on the need for a comprehensive and integrated planning in MIS.

Planning should be made from its time horizon and from its focus. It concentrates on the long-range conceptual planning, medium-range managerial planning, and short-range operational planning. They …

The Effects Of Position And Gender In Evaluating Job Factors, Yen-Yueh Yin

Theses

This study investigated the extent to which corporate recruiters and students share an understanding of desirable job factors. To identify the differences between the two groups, 114 students and 26 recruiters completed a questionnaire on twenty three job factors. Univariate analyses revealed significant differences between the two groups. The implications of these findings for recruitment, selection, and career counseling are discussed.

New Mexico Labor Market Review 05-31-1989, 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 April of 1989. It is a report on the state's employment and economic activity.

Metropolitan Report - May 18, 1989, Division Of Business And Economic Research, College Of Business Administration, University Of New Orleans

UNO Metropolitan Report (1986-2017)

No abstract provided.