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Structural And Stabilization Aspects Of Fiscal And Financial Policy In The Dependent Economy, Part I, Willem H. Buiter Oct 1986

Structural And Stabilization Aspects Of Fiscal And Financial Policy In The Dependent Economy, Part I, Willem H. Buiter

Discussion Papers

No abstract provided.


Fiscal Prerequisites For A Viable Managed Exchange Rate Regime: A Non-Technical Eclectic Introduction, Willem H. Buiter Oct 1986

Fiscal Prerequisites For A Viable Managed Exchange Rate Regime: A Non-Technical Eclectic Introduction, Willem H. Buiter

Discussion Papers

No abstract provided.


Death, Population And Growth, Productivity Growth And Debt Neutrality, Willem H. Buiter Oct 1986

Death, Population And Growth, Productivity Growth And Debt Neutrality, Willem H. Buiter

Discussion Papers

No abstract provided.


Enough Commodity Money And The Selection Of A Unique Competitive Equilibrium, Martin Shubik Oct 1986

Enough Commodity Money And The Selection Of A Unique Competitive Equilibrium, Martin Shubik

Cowles Foundation Discussion Papers

Suppose that we reformulate the exchange economy as a strategic market game. As all purchases are paid for in cash it is possible to attach precise meaning to what is meant by enough money. As the game is a single simultaneous bid and offered at m trading posts and m prices are all simultaneously determined, in essence the trading technology is completely specified.


Testing For Cointegration Using Principal Component Methods, Peter C.B. Phillips, Sam Ouliaris Oct 1986

Testing For Cointegration Using Principal Component Methods, Peter C.B. Phillips, Sam Ouliaris

Cowles Foundation Discussion Papers

This paper studies cointegrated systems of multiple time series which are individually well described as integrated processes (with or without a drift). Necessary and sufficient conditions for cointegration are given. These conditions form the basis for a new class of statistical procedures designed to test for cointegration. The new procedures rely on principal components methods. They are simple to employ and they involve only the standard normal distribution. Monte Carlo simulations reported in the paper indicate that the new procedures provide simple and apparently rather powerful diagnostics for the detection of cointegration. Some empirical applications to macroeconomic data are conducted.


The Unique Minimal Cash Flow Competitive Equilibrium, Martin Shubik Oct 1986

The Unique Minimal Cash Flow Competitive Equilibrium, Martin Shubik

Cowles Foundation Discussion Papers

The exchange economy E can be reformulated as a strategic market game. In particular the point of concern here involves the introduction of a specified amount of credit or fiat money to monetize exchange. Dubey and Shubik (1979) and Shubik and Wilson (1977) have studied the possibility of introducing a fixed amount M of money to finance trade. When one formulates exchange as a game of strategy using any form of credit or fiat money where there is any possibility whatsoever that an individual will be unable to pay back that which he has borrowed, the rules of the game …


Yale-New Haven 1986 Annual Report Issue, Yale-New Haven Hospital Sep 1986

Yale-New Haven 1986 Annual Report Issue, Yale-New Haven Hospital

Yale New Haven Hospital Annual Reports

For the year 1986. Year ending September 30, 1986.


Minutes Of Loan Committee Meeting To Consider Haiti - Proposed Structural Adjustment Operation Held On September 22, 1986 In Conference Room E-1208, World Bank/World Bank Group Sep 1986

Minutes Of Loan Committee Meeting To Consider Haiti - Proposed Structural Adjustment Operation Held On September 22, 1986 In Conference Room E-1208, World Bank/World Bank Group

Documents

Minutes of Loan Committee Meeting to consider HAITI - Proposed Structural Adjustment Operation held on September 22, 1986 in Conference Room E-1208, Loan Committee - Minutes and Reports - 1986 - 89093-01, Folder ID 30043699, ISAD(G) Reference WB IBRD/IDA LC-01, World Bank Group Archives, Washington, D.C., United States.


Minutes Of The Loan Committee Meeting To Consider Tunisia - Proposed Industrial And Trade Policy Adjustment Loan Held On Tuesday, September 16, 1986 In Conference Room E-1204, World Bank/World Bank Group Sep 1986

Minutes Of The Loan Committee Meeting To Consider Tunisia - Proposed Industrial And Trade Policy Adjustment Loan Held On Tuesday, September 16, 1986 In Conference Room E-1204, World Bank/World Bank Group

Documents

Minutes of the Loan Committee Meeting to consider TUNISIA - Proposed Industrial and Trade Policy Adjustment Loan held on Tuesday, September 16, 1986 in Conference Room E-1204, Loan Committee - Minutes and Reports - 1986 - 89093-01, Folder ID 30043699, ISAD(G) Reference WB IBRD/IDA LC-01, World Bank Group Archives, Washington, D.C., United States.


Minutes Of Loan Committee Meeting To Consider Ethiopia - Proposed Peasant Agricultural Development Project Held On September 8, 1986 In Conference Room E-1208, World Bank/World Bank Group Sep 1986

Minutes Of Loan Committee Meeting To Consider Ethiopia - Proposed Peasant Agricultural Development Project Held On September 8, 1986 In Conference Room E-1208, World Bank/World Bank Group

Documents

Minutes of Loan Committee Meeting to consider ETHIOPIA - Proposed Peasant Agricultural Development Project held on September 8, 1986 in Conference Room E-1208, Loan Committee - Minutes and Reports - 1986 - 89093-01, Folder ID 30043699, ISAD(G) Reference WB IBRD/IDA LC-01, World Bank Group Archives, Washington, D.C., United States.


Minutes Of Loan Committee Meeting To Consider Panama - Second Structural Adjustment Loan Held On September 2, 1986 In Conference Room E-1208, World Bank/World Bank Group Sep 1986

Minutes Of Loan Committee Meeting To Consider Panama - Second Structural Adjustment Loan Held On September 2, 1986 In Conference Room E-1208, World Bank/World Bank Group

Documents

Minutes of Loan Committee Meeting to consider PANAMA - Second Structural Adjustment Loan held on September 2, 1986 in Conference Room E-1208, Loan Committee - Minutes and Reports - 1986 - 89093-01, Folder ID 30043699, ISAD(G) Reference WB IBRD/IDA LC-01, World Bank Group Archives, Washington, D.C., United States.


Minutes Of The Loan Committee Meeting To Consider Nepal - Proposed Structural Adjustment Credit Held On September 3, 1986 In Conference Room E-1208, World Bank/World Bank Group Sep 1986

Minutes Of The Loan Committee Meeting To Consider Nepal - Proposed Structural Adjustment Credit Held On September 3, 1986 In Conference Room E-1208, World Bank/World Bank Group

Documents

Minutes of the Loan Committee Meeting to consider NEPAL - Proposed Structural Adjustment Credit held on September 3, 1986 in Conference Room E-1208, Loan Committee - Minutes and Reports - 1986 - 89093-01, Folder ID 30043699, ISAD(G) Reference WB IBRD/IDA LC-01, World Bank Group Archives, Washington, D.C., United States.


The Stability Of Household Production Technology: A Replication, Mark R. Rosenzweig, T. Paul Schultz Sep 1986

The Stability Of Household Production Technology: A Replication, Mark R. Rosenzweig, T. Paul Schultz

Discussion Papers

No abstract provided.


Commitment And The Modern Union: Assessing The Link Between Premarital Cohabitation And Subsequent Marital Stability, Neil G Bennett, Ann Klimas Blanc, David E. Bloom Sep 1986

Commitment And The Modern Union: Assessing The Link Between Premarital Cohabitation And Subsequent Marital Stability, Neil G Bennett, Ann Klimas Blanc, David E. Bloom

Discussion Papers

No abstract provided.


On The Formulation Of Wald Tests Of Nonlinear Restrictions, Peter C.B. Phillips, Joon Y. Park Sep 1986

On The Formulation Of Wald Tests Of Nonlinear Restrictions, Peter C.B. Phillips, Joon Y. Park

Cowles Foundation Discussion Papers

This paper utilizes asymptotic expansions to investigate alternative forms of the Ward set of nonlinear restrictions. Some formulae for the asymptotic expansion of the distribution of the Wald statistic are provided for a general case. When specialized to the simple cases that have been studied recently in the literature, these formulae are found to explain rather well the discrepancies in sampling behavior that have been observed by other authors. It is further shown how the correction delivered by the Edgeworth expansion may be used to find transformations of the restrictions which accelerate convergence to the asymptotic distribution.


Asymptotic Equivalence Of Ols And Gls In Regressions With Integrated Regressors, Peter C.B. Phillips, Joon Y. Park Sep 1986

Asymptotic Equivalence Of Ols And Gls In Regressions With Integrated Regressors, Peter C.B. Phillips, Joon Y. Park

Cowles Foundation Discussion Papers

In the multiple regression model y t = x’ t β + u t where { u t } is stationary and x t is an integrated m -vector process it is shown that the asymptotic distributions of the ordinary least squares (OLS) and generalized least squares (GLS) estimators of β are identical. This generalizes a recent result obtained by Kramer (1986) for simple two variate regression. Our approach makes use of a multivariate invariance principle and yields explicit representations of the asymptotic distributions in terms of fuctionals of vector Brownian motion. Some useful assumption results for hypothesis tests in …


Yale Nurse, Yale School Of Nursing Sep 1986

Yale Nurse, Yale School Of Nursing

Yale School of Nursing Alumni Newsletters and Magazines

No abstract provided.


Yale Scientific Magazine: Volume 61, Number 1 Sep 1986

Yale Scientific Magazine: Volume 61, Number 1

Yale Scientific Magazine

No abstract provided.


Minutes Of The Loan Committee Meeting To Consider Tunisia - Proposed Agricultural Sector Adjustment Loan Held On August 15, 1986, In Conference Room E-1208, World Bank/World Bank Group Aug 1986

Minutes Of The Loan Committee Meeting To Consider Tunisia - Proposed Agricultural Sector Adjustment Loan Held On August 15, 1986, In Conference Room E-1208, World Bank/World Bank Group

Documents

Minutes of the Loan Committee Meeting to consider TUNISIA - Proposed Agricultural Sector Adjustment Loan held on August 15, 1986, in Conference Room E-1208, Loan Committee - Minutes and Reports - 1986 - 89093-01, Folder ID 30043699, ISAD(G) Reference WB IBRD/IDA LC-01, World Bank Group Archives, Washington, D.C., United States.


Minutes Of Loan Committee Meeting To Consider Chile - Second Structural Adjustment Loan Held On August 7, 1986 In Conference Room E-1208, World Bank/World Bank Group Aug 1986

Minutes Of Loan Committee Meeting To Consider Chile - Second Structural Adjustment Loan Held On August 7, 1986 In Conference Room E-1208, World Bank/World Bank Group

Documents

Minutes of Loan Committee Meeting to Consider CHILE - Second Structural Adjustment Loan held on August 7, 1986 in Conference Room E-1208,Reports - 1986 - 89093-01, Folder ID 30043699, ISAD(G) Reference WB IBRD/IDA LC-01, World Bank Group Archives, Washington, D.C., United States.


Minutes Of The Loan Committee Meeting To Consider Tanzania - Proposed Multisector Rehabilitation Credit Held On July 21, 1986, In Conference Room E-1208, World Bank/World Bank Group Aug 1986

Minutes Of The Loan Committee Meeting To Consider Tanzania - Proposed Multisector Rehabilitation Credit Held On July 21, 1986, In Conference Room E-1208, World Bank/World Bank Group

Documents

Minutes of the Loan Committee Meeting to consider Tanzania - Proposed Multisector Rehabilitation Credit held on July 21, 1986, in Conference Room E-1208, Loan Committee - Minutes and Reports - 1986 - 89093-01, Folder ID 30043699, ISAD(G) Reference WB IBRD/IDA LC-01, World Bank Group Archives, Washington, D.C., United States.


Granger-Causality And Policy Ineffectiveness: A Rejoinder, Willem H. Buiter Aug 1986

Granger-Causality And Policy Ineffectiveness: A Rejoinder, Willem H. Buiter

Discussion Papers

No abstract provided.


Limiting Distributions Of The Number Of Pure Strategy Nash Equilibria In N-Person Games, Imelda Yeung Powers Aug 1986

Limiting Distributions Of The Number Of Pure Strategy Nash Equilibria In N-Person Games, Imelda Yeung Powers

Cowles Foundation Discussion Papers

In this paper, we study the number of pure strategy Nash equilibria in a “random” n -person non-cooperative game in which all players have a countable number of strategies. We provide explicit expressions for the expected number of pure strategy Nash Equilibria, and show that the distribution of the number of pure strategy Nash Equilibria approaches the Poisson distribution with mean 1 as the numbers of strategies of two or more players go to infinity.


Power In Econometric Applications, Donald W.K. Andrews Aug 1986

Power In Econometric Applications, Donald W.K. Andrews

Cowles Foundation Discussion Papers

This paper is concerned with the use of power properties of tests in econometric applications. Power radius and inverse power functions are defined. These functions are designed to yield summary measures of power that facilitate the interpretation of test results in practice. Simple approximations are introduced for the power radius and inverse power functions of Wald, likelihood ration, Lagrange multiplier, and Hausman tests. These approximations readily convey the general qualitative features of the power of a test. Examples are provided to illustrate their usefulness in interpreting test results.


Temporal Dependence In Limited Dependent Variable Models: Theoretical And Monte-Carlo Results, Vassilis A. Hajivassiliou Aug 1986

Temporal Dependence In Limited Dependent Variable Models: Theoretical And Monte-Carlo Results, Vassilis A. Hajivassiliou

Cowles Foundation Discussion Papers

This paper analyzes the consistency properties of classical estimators for limited dependent variables models, under conditions of serial correlation in the unobservables. A unified method of proof is used to show that for certain cases (e.g., Probit, Tobit and Normal Switching Regimes models, which are normality-based) estimators that neglect particular types of serial dependence (specifically, corresponding to the class of “mixing” processes) are still consistent. The same line of proof fails for the analogues to the above models that impose logistic distributional assumptions, thus indicating that normality plays a special role in these problems. Sets of Monte-Carlo experiments are then …


Minutes Of The Loan Committee Meeting To Consider Nigeria - Proposed Trade Policy And Export Development Loan, Held On July 23, 1986 In Conference Room E-1208, World Bank/World Bank Group Jul 1986

Minutes Of The Loan Committee Meeting To Consider Nigeria - Proposed Trade Policy And Export Development Loan, Held On July 23, 1986 In Conference Room E-1208, World Bank/World Bank Group

Documents

Minutes of the Loan Committee Meeting to consider NIGERIA - Proposed Trade Policy and Export Development Loan, held on July 23, 1986 in Conference Room E-1208, Loan Committee - Minutes and Reports - 1986 - 89093-01, Folder ID 30043699, ISAD(G) Reference WB IBRD/IDA LC-01, World Bank Group Archives, Washington, D.C., United States.


Minutes Of Loan Committee To Consider Philippines - Economic Recovery Loan Held On July 17, 1986 In Conference Room E-1208, World Bank/World Bank Group Jul 1986

Minutes Of Loan Committee To Consider Philippines - Economic Recovery Loan Held On July 17, 1986 In Conference Room E-1208, World Bank/World Bank Group

Documents

Minutes of Loan Committee to consider PHILIPPINES - Economic Recovery Loan held on July 17, 1986 in Conference Room E-1208, Loan Committee - Minutes and Reports - 1986 - 89093-01, Folder ID 30043699, ISAD(G) Reference WB IBRD/IDA LC-01, World Bank Group Archives, Washington, D.C., United States.


Minutes Of The Loan Committee Meeting To Consider Malawi- Proposed Agricultural Pricing And Marketing Reform Program Credit Held On July 21, 1986 In Conference Room E-1208, World Bank/World Bank Group Jul 1986

Minutes Of The Loan Committee Meeting To Consider Malawi- Proposed Agricultural Pricing And Marketing Reform Program Credit Held On July 21, 1986 In Conference Room E-1208, World Bank/World Bank Group

Documents

Minutes of the Loan Committee Meeting to Consider Malawi- Proposed Agricultural Pricing and Marketing Reform Program Credit Held on July 21, 1986 in Conference Room E-1208, Loan Committee - Minutes and Reports - 1986 - 89093-01, Folder ID 30043699, ISAD(G) Reference WB IBRD/IDA LC-01, World Bank Group Archives, Washington, D.C., United States.


Minutes Of The Loan Committee Meeting To Consider The Gambia - Proposed Structural Adjustment Program Held On July 17, 1986, In Conference Room E-1208, World Bank/World Bank Group Jul 1986

Minutes Of The Loan Committee Meeting To Consider The Gambia - Proposed Structural Adjustment Program Held On July 17, 1986, In Conference Room E-1208, World Bank/World Bank Group

Documents

Minutes of the Loan Committee Meeting to consider THE GAMBIA - Proposed Structural Adjustment Program held on July 17, 1986, in Conference Room E-1208, Loan Committee - Minutes and Reports - 1986 - 89093-01, Folder ID 30043699, ISAD(G) Reference WB IBRD/IDA LC-01, World Bank Group Archives, Washington, D.C., United States.


Minutes Of The Loan Committee Meeting To Consider Morocco - Proposed Agricultural Sector Adjustment Loan Held On June 25, 1986, In Conference Room E-1208, World Bank/World Bank Group Jul 1986

Minutes Of The Loan Committee Meeting To Consider Morocco - Proposed Agricultural Sector Adjustment Loan Held On June 25, 1986, In Conference Room E-1208, World Bank/World Bank Group

Documents

Minutes of the Loan Committee Meeting to consider MOROCCO - Proposed Agricultural Sector Adjustment Loan held on June 25, 1986, in Conference Room E-1208, Loan Committee - Minutes and Reports - 1986 - 89093-01, Folder ID 30043699, ISAD(G) Reference WB IBRD/IDA LC-01, World Bank Group Archives, Washington, D.C., United States.