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Random Cell Chi-Square Diagnostic Tests For Econometric Models: Ii. Theory, Donald W.K. Andrews

Cowles Foundation Discussion Papers

This paper extends the Pearson chi-square testing method to non-dynamic parametric econometric models, in particular, to models with covariates. The paper establishes the asymptotic distribution of the test statistic under the null and local alternatives, when the test statistic is based on data-dependent random cells of a general form, and on an arbitrary asymptotically normal estimator. These results are attained by extending recent probabilistic results for the weak convergence of empirical processes indexed by sets. The chi-square test that is introduced can be used to test goodness-of-fit of a parametric model, as well as to test particular aspects of the …

A Theory Of Hierarchies Based On Limited Managerial Attention, John Geanakoplos, Paul R. Milgrom

Cowles Foundation Discussion Papers

Our purpose in this paper is to investigate the economics of managerial organizations by focusing on the decision problem of management. Ours is a “team theory” analysis, that is, it ignores the problem of conflicting objectives among managers and focuses instead on the problem of coordinating the decisions of several imperfectly informed actors. However, unlike classical team theory, we concentrate on the choice by managers of what to know, as well as what to do, and we allow the possibility that bounded rationality limits the managers’ ability to understand subtle messages.

Strengthening The Corporate Board: A Constructive Reponses To Hostile Takeovers, Murray L. Weidenbaum

Murray Weidenbaum Publications

This report examines the role of boards of directors and the pressures felt in the boardroom, especially when dealing with an unsolicited takeover. It also examines the different view of what a board can and should do. Recommendations are included for enhancing the board's ability to respond to external challenges.

Sraffa And Keynes: Effective Demand In The Long Run, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Prepared for Conference on "Sraffa’s Production of Commodities by Means of Commodities After Twenty Five Years." Aug. 24-27, 1985, Florence, Italy.

Also posted is this paper as it appeared in Krishna Bharadwaj and Bertram Schefold, Ed. Essays On Piero Sraffa: Critical Perspectives On The Revival Of Classical Theory. London, England: Routledge, 1992, pages 362-371.

The third posting is this paper with edits Minsky made apparently after the paper's publication.

Reagan Speaks With Forked Tongue, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

One of the ongoing column "THE ECONOMY From The Not-So Ivory Tower."

Sections And Extensions Of Concave Functions, Roger Howe

Cowles Foundation Discussion Papers

No abstract provided.

Existence, Regularity, And Constrained Suboptimality Of Competitive Allocations When The Asset Market Is Incomplete, John Geanakoplos, Heracles M. Polemarchakis

Cowles Foundation Discussion Papers

Let assets be denominated in an a priori specified numeraire. Whether or not the asset is complete, a competitive equilibrium exists as long as arbitrage is possible when assets are free. Generically, the set of competitive equilibria is finite, and the equilibrium prices and allocations in the commodity spot markets are uniquely determined by the asset allocation in a neighborhood of a competitive equilibrium. If the asset market is incomplete, a competitive equilibrium allocation is generically constrained suboptimal : there exists an arbitrarily small reallocation of the existing assets, which leads to a Pareto improvement in welfare when prices and …

Asymptotic Expansions In Nonstationary Vector Autoregressions, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper studies the statistical properties of vector autoregressions (VAR’s) for quite general multiple time series which are integrated of order one. Functional central limit theorems are given for multivariate partial sums of weakly dependent innovations and these are applied to yield first order asymptotics in nonstationary VAR’s. Characteristic and cumulant functionals for generalized random processes are introduced as a means of developing a refinement of central limit theory on function spaces. The theory is used to find asymptotic expansions of the regression coefficients in nonstationary VAR’s under very general conditions. The results are specified to the scalar case and …

United States Agricultural Trade Prospects, Harry Greenbaum

Economics Commentator (1972- 2016)

No abstract provided.

An Assessment Of The Education Sector In The Five- Year Plan For Economic And Social Development [Manuscript] : 1982/83-1986/87, Adel S F Ishac

Archived Theses and Dissertations

No abstract provided.

Final I-O Nipa Sv Calculations Aug 1985 Bard, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Handwritten notes Calculation revisions (August 25, 1985)

• Handwritten notes Adjustment to I-O data for bias introduced by pre-1972 transfer procedure for secondary products (August 7, 1985)

• Handwritten notes Treatment of secondary products in pre-1972 I-O tables (August 3, 1985)

• Handwritten notes Intrinsic structure, pre-1972 tables (August 3, 1985)

• Handwritten notes Summary: Imputations in GNP (August 5, 1984)

• Handwritten notes Imputations in GNP (August 3, 1984)

• Handwritten notes Structure of NIPA accounts (October 31, 1983)

• GNP data from Survey of Current Business (May 1984)

• Handwritten notes Gross value and its components, I-O years (August 8, 1985)

• Handwritten notes …

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Sources + Uses Of Funds, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Handwritten notes titled Sources & uses of funds, which begin by referencing Foulke, R. A. (1968). Practical financial statement analysis (6th ed.). New York, NY: McGraw-Hill.

Economcis Of Reduced Tillage Systems, Herbert R. Allen

Economics Commentator (1972- 2016)

No abstract provided.

Government Programs, Job Search Requirements, And The Duration Of Unemployment, Michael C. Keeley, Philip K. Robins

Economics Articles and Papers

This paper presents an empirical analysis of how job search requirements under various government programs influence job search behavior. The analysis indicates that job search requirements exert a significant impact on certain aspects of the job search process, but not those that generally lead to a higher probability of employment. It is also found that persons who utilize intensively search activities that result in direct employer contact have much shorter durations of unemployment than persons who do not utilize such activities intensively. It is speculated that altering job search requirements to include more direct employer contact could lead to a …

Economic ‘Recovery’ Likely To Fizzle, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

One of the ongoing column in the St. Louis Journalism Review, "THE ECONOMY From The Not-So Ivory Tower."

Ua68/2 Intercambio Internacional, Vol. Ix, No. 2, 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.

On The Performance Of Least Squares In Linear Regression With Undefined Error Means, Donald W.K. Andrews

Cowles Foundation Discussion Papers

This paper considers the linear regression model with multiple stochastic regressors, intercept, and errors that have undefined means. This model is of interest from a robustness perspective as a polar case. Generally, least squares estimators are inconsistent in this context. It is shown, however, that this inconsistency is restricted to the estimation of the intercept, if the regressors are highly variable. Rates of convergence of the least squares slope estimators are determined, and are shown to exceed the standard rate, n -1/2 , in certain contexts. The results place no restrictions on the temporal dependence of the errors, and require …

Farmland Rental Terms In Eastern And Central South Dakota, Larry Janssen, Larry Madsen

Economics Commentator (1972- 2016)

No abstract provided.

Small Farmers' Cooperatives In Brazil, 1964-1984 Reasons For Success Or Failure, Henry H. Gerber

Graduate Program in International Studies Theses & Dissertations

This study is concerned with cooperative business enterprises of small farmers. The topic has been chosen because peasants' association in supply and marketing cooperatives is considered an essential element in rural development. The author's field experience leads him to agree in principle with this assumption. But, as exemplified by Brazil, a variety of factors (ecological, sociohistorical, legal, economic and so forth) may hinder or help the inception and survival of cooperatives.

Thus, if a government aims at integrating the small producer into the national economy as supplier and consumer (as in Brazil), measures to implement t~is policy must not be …

Economics Of Home-Based Businesses, Thomas L. Dobbs

Economics Commentator (1972- 2016)

No abstract provided.

Some Notes On Taxes And Tax Reform, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

One of the ongoing column, “THE ECONOMY From The Not-So Ivory Tower."

Enough Gold In A Society Without And With Money-Lenders, Martin Shubik

Cowles Foundation Discussion Papers

If an exchange economy is modeled as a strategic market game with one commodity serving as a money, then if there is no credit available and if all traders are insignificant in size, so that an individual does not influence prices, the noncooperative equilibria (NEs) of the game will coincide with the competitive equilibria of the exchange economy provided that there is enough money to facilitate trade. The meaning of ‘enough money’ is that the NEs are interior. In other words the constraint that an individual cannot spend more of the means of payment than he holds is not binding …

A Characterization Of Globally Optimal Paths In The Non-Classical Growth Model, Rabah Amir

Cowles Foundation Discussion Papers

We show that the monotonicity property of optimal paths (or, equivalently, the uniform boundedness of the marginal propensity of consumption by unity) is a necessary condition for local (as well as for global) optimality, and is also sufficient for local optimality, but not for global optimality. We also show that the well-known properties of the value function — continuity and monotonicity — are sufficient (along with the above conditions) to guarantee global optimality. In other words, if at any stock level, a local non-global maximizer is selected, a discontinuity in the value function will be observed. We suggest that the …

Edgeworth Equilibria, Charalambos D. Aliprantis, Donald J. Brown, Owen Burkinshaw

Cowles Foundation Discussion Papers

The paper studies pure exchange economies with infinite dimensional commodity spaces in the setting of Riesz dual systems. Several new concepts of equilibrium are introduced. An allocation ( x 1 , …, x m ) is said to be a) an Edgeworth equilibrium whenever it belongs to the core of every n -fold replication of the economy; and b) an ε- Walrasian equilibrium whenever for each ε > 0 there exists some price p not equal to 0 with p ∙ω = 1 (where ω = Σω i is the total endowment) and with x ≥ i x i implying p …

Understanding Spurious Regressions In Econometrics, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper provides an analytical study of spurious regressions involving the levels of economic time series. As asymptotic theory is developed for regressions that relate independent random walks. It is shown that the usual t ratio significance tests do not possess limiting distributions but actually diverge as the sample size T approaches infinity. The Durbin-Watson statistic, on the other hand, converges in probability to zero. An alternative asymptotic theory is also analyzed. An alternative asymptotic theory is developed based on the concept of continuous data recording. This theory together with the large sample asymptotics that we present go a long …

Projections Of The Population Of New Mexico By County: 1980-2005, University Of New Mexico Bureau Of Business And Economic Research, Lynn Bodin Wombold

BBER Publications

Population projections for counties in New Mexico by age and sex for the period of 1985-2005. Additionally, projections for nonagricultural employment are also reported.

Bureau Of Business And Economic Research_1985, Lynn Bodin Wombold

BBER Publications

The report appears to be part of the same analytical series supporting PNM’s socioeconomic modeling and regional evaluation efforts. While the full text is still being processed, the document likely extends or supplements the 1966–1984 historical evaluation by providing updated methodological notes, additional socioeconomic indicators, or revised estimates prepared for PNM or other state‑level planning entities.

Training New Employees In Ecuador's Esmeraldas Oil Refinery, Rodrigo Alfredo Morales

Theses

This thesis comprises an overall review of general methods of training used by two New Jersey oil refineries of similar circumstances to Ecuador's Esmeraldas oil refinery.

The method of research was a survey in the form of a questionnaire. It was sent to the five existing oil refineries across New Jersey. Statewide telephone conversations, and with Ecuadorian personnel executives were made to request pertinent information. Research from current journals, training books, and first hand data from refineries, support the recommendations and the study in general.

The results of the thesis include recommendations as to the most advantageous policies and training …

Cross-Cultural Study Of Maslow's Need Theory Of Motivation, Jitendra N. Mishra

Theses

Abraham H. Maslow's Need Theory of Motivation was subjected to a cross-cultural scrutiny to see if his theory has universal application. It was thus also intended, to make a contribution to his theory since today, global interdependence is no longer a matter of belief, preference or choice. Rather, it is an inescapable reality.

To achieve this goal, an extensive Literature Survey was undertaken. It was found that his theory is more consistent with American value system. Nevertheless, if care is exercised, his theory can be useful in International context too, with some necessary modifications.

This paper is directed to save …

A Study Of The Human Resources Principles Applied To Telemarketing Programs, Marian Elizabeth Jones

Theses

The objective was to study organizations which have established telemarketing programs to understand the impact of distinct human resources principles used to establish and maintain the sales unit. A questionnaire was developed to determine whether telemarketing programs, which are specifically designed to recruit, select and train inside sales forces, differ from the programs used to do the same with outside sales forces. Furthermore, the sample population was asked whether telemarketing programs contribute to the overall success of the telemarketing force by catering to the special needs of inside sales people. This questionnaire was sent to a sampling of companies who …