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Economics

1982

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Articles 31 - 60 of 259

Full-Text Articles in Social and Behavioral Sciences

The Structure Of Social Risk, William D. Nordhaus, Steven N. Durlauf Sep 1982

The Structure Of Social Risk, William D. Nordhaus, Steven N. Durlauf

Cowles Foundation Discussion Papers

It is increasingly recognized that the structure of financial risks interacts with economic or fundamental risks in a way that influence real economic outcomes. Recent work documents, on the one hand, the apparent excessive sensitivity of financial markets to economic shocks (see especially Shiller (1979)); and on the other hand the close dependence of investment and economic variables on financial variables. One of the central developments to analyze such interactions has been portfolio theory, particularly the capital asset pricing model (CAPM). This field has been extremely fertile, and has seen an outpouring of both theoretical and empirical work. Unfortunately, virtually …

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On The Control Of The American Economy, Hyman P. Minsky Ph.D. Aug 1982

On The Control Of The American Economy, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Paper prepared for the “Conference on Theories of Accumulation and the Control of the Economy,” Villa Manin di Passariano, Udine, Italy

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The Abc's Of Proposed Constitutional Changes, Galen Kelsey Aug 1982

The Abc's Of Proposed Constitutional Changes, Galen Kelsey

Economics Commentator

No abstract provided.

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Energy-Efficient Clothing, Interior Architecture And Furnishing Designs: Consumer Attitudes, Acceptability Levels And Preferences, Barbara Parks Aug 1982

Energy-Efficient Clothing, Interior Architecture And Furnishing Designs: Consumer Attitudes, Acceptability Levels And Preferences, Barbara Parks

Home Economics and Family Living Theses

Energy-efficient designs in clothing, interior architecture and furnishings were evaluated (a) to assess consumers’ attitudes toward the designs, (b) to compare acceptability levels of participants who were knowledgeable in the home energy field with those who were less knowledgeable and (c) to determine if consumers had a preference for using housing, clothing or furnishings in meeting their thermal comfort needs. Four designs generated by the University of Tennessee-Energy Design competition were evaluated: a leisure outfit, a lounging dress, a water-storage collector (room divider and coffee tables) and a solar waterbed. Rogers and Shoemaker’s perceived attributes of innovations model (relative advantage, …

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Utility Functions For Debreu's ‘Excess Demands', John Geanakoplos Aug 1982

Utility Functions For Debreu's ‘Excess Demands', John Geanakoplos

Cowles Foundation Discussion Papers

No abstract provided.

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Core And Competitive Equilibria With Indivisibilities, Martine Quinzii Aug 1982

Core And Competitive Equilibria With Indivisibilities, Martine Quinzii

Cowles Foundation Discussion Papers

No abstract provided.

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Era's: A New Approach To Small Sample Theory, Peter C.B. Phillips Aug 1982

Era's: A New Approach To Small Sample Theory, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This article proposes a new approach to small sample theory that achieves a meaningful integration of earlier directions of research in this field. The approach centers on the constructive technique of approximating distributions developed recently by the author in [10]. This technique utilizes extended rational approximants (ERA’s) which methods (such as those based on asymptotic expansions) and which simultaneously blend information from diverse analytic, numerical and experimental sources. The first part of the article explores the general theory of approximation of continuous probability distributions by means of ERA’s. Existence, characterization, error bound and uniqueness for the convergence result obtained earlier …

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On The Disaggregation Of Excess Demand Functions, John Geanakoplos, Heracles M. Polemarchakis Aug 1982

On The Disaggregation Of Excess Demand Functions, John Geanakoplos, Heracles M. Polemarchakis

Cowles Foundation Discussion Papers

No abstract provided.

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The Stimulus Of City Success Stories, Chester Smolski Jul 1982

The Stimulus Of City Success Stories, Chester Smolski

Smolski Texts

"When George Voinovich, mayor of this city, spoke to the 300 persons gathered from all parts of this country to discuss successes in cities, he had the undivided attention of the audience. After all, this was the man who brought the city back from the brink of bankruptcy and has now given it clear direction and a solid financial base."

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Porter And Rouse--Believers In Cities And Opportunities, Chester Smolski Jul 1982

Porter And Rouse--Believers In Cities And Opportunities, Chester Smolski

Smolski Texts

"His name may not be familiar, but it should be. He helped to originate and implement the Marshall Plan, this nation's effort to help European recovery in the post-war years. Throughout his long and distinguished career he touched many bases as editor and publisher of a trade newspaper, U.S.diplomat in several European cities and successful businessman and president of his own firm. Upon retirement several years ago, he developed an interest in cities, wrote a book about them, and four years ago at an age when many have packed it in, became director of the Urban Recovery Project at the …

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Potential Of A Failing Neighborhood, Chester Smolskirevitalize Olneyville Plan By State Colleges. Jul 1982

Potential Of A Failing Neighborhood, Chester Smolskirevitalize Olneyville Plan By State Colleges.

Smolski Texts

"Developing neighborhood pride is one of the keys to a healthy neighborhood and a healthy city. In a city that is losing population and jobs, that is faced with increasing numbers of abandoned houses and vacant lots, that has the highest equalized tax rate (tax rate and assessment rate combined) in the state, and that has unique needs because of the large numbers of elderly, minority and poor residents, maintaining strong neighborhoods is a difficult task. Yet, though the task may be difficult, there is hope and there is potential for declining neighborhoods to revitalize themselves. This was the message …

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Economic Evaluation Of Solar Energy Systems In Commercial Buildings: Methodology And Case Studies, Rosalie T. Ruegg, G. Thomas Sav, Jeanne W. Powell, E. Thomas Pierce Jul 1982

Economic Evaluation Of Solar Energy Systems In Commercial Buildings: Methodology And Case Studies, Rosalie T. Ruegg, G. Thomas Sav, Jeanne W. Powell, E. Thomas Pierce

Economics Faculty Publications

This report develops a comprehensive economic optimization model for evaluating the economic feasibility of active solar energy systems to provide service hot water and combined space heating/service hot water in commercial buildings. The model is demonstrated in a number of case studies for office buildings and retail stores. Data and assumptions for use in the model are compiled for the selected case studies. Using these data, the model is applied to estimate present value net savings (or net losses) of the solar energy systems over a 20-year life cycle. Break-even values for hot water loads, solar energy system costs, and …

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The Distribution Of Matrix Quotients, Peter C.B. Phillips Jul 1982

The Distribution Of Matrix Quotients, Peter C.B. Phillips

Cowles Foundation Discussion Papers

Cramér’s inversion formula for the distribution of a quotient is generalized to matrix variates and applied to give an alternative derivation of the matrix t-distribution.

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We Can't Disagree Forever, John Geanakoplos, Heracles M. Polemarchakis Jul 1982

We Can't Disagree Forever, John Geanakoplos, Heracles M. Polemarchakis

Cowles Foundation Discussion Papers

Under the assumption of common priors, if the information partitions of two agents are finite, then simply by communicating back and forth and revising their posteriors the two agents will converge to a common equilibrium posterior, even though they may base their posteriors on quite different information. Furthermore, given any integer, n, one can construct an example in which the revision process not only takes n steps to converge, but no evident revision occurs — for (n – 1) steps both agents repeat the same conflicting posteriors — until the last step when the two agents decide to agree. Common …

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Information Processing And Jury Decision Making, Alvin K. Klevorick, Michael Rothschild, Christopher Winship Jul 1982

Information Processing And Jury Decision Making, Alvin K. Klevorick, Michael Rothschild, Christopher Winship

Cowles Foundation Discussion Papers

No abstract provided.

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Failure Of The Alternation Theorem In Rational Approximation Over C_0 (-Infinity,Infinity), Peter C.B. Phillips Jul 1982

Failure Of The Alternation Theorem In Rational Approximation Over C_0 (-Infinity,Infinity), Peter C.B. Phillips

Cowles Foundation Discussion Papers

No abstract provided.

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Don't Bet On It, John Geanakoplos, James K. Sebenius Jul 1982

Don't Bet On It, John Geanakoplos, James K. Sebenius

Cowles Foundation Discussion Papers

If two people have different probability assessments about the realization of an uncertain event, they can design a contingent agreement such as a bet or gamble that offers each of them positive expected value. Yet, in the process of formulating this kind of agreement, information about the basis for each person’s probabilities may be indirectly revealed to the other. The very willingness to accept a proposed bet conveys information. This paper models a process by which private, asymmetrically-held information is progressively unveiled as a possible contingent agreement is discussed. If the two parties share priors and their information partitions are …

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On Implicit Contracts And Involuntary Unemployment, John Geanakoplos, Takatoshi Ito Jul 1982

On Implicit Contracts And Involuntary Unemployment, John Geanakoplos, Takatoshi Ito

Cowles Foundation Discussion Papers

We show that a firm can increase expected profits by undertaking the additional expense of paying unemployment compensation to the workers it lays off, if they are risk averse. When this argument is applied to the implicit contract models it makes the involuntary unemployment derived there disappear, where by involuntary unemployment we mean a situation in which one worker has a job at a wage w and another worker who is known to be productively identical and willing to take on the job at a lower wage h cannot find a job. We introduce into our model asymmetric information between …

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Can "It" Happen Again? A Reprise, Hyman P. Minsky Ph.D. Jul 1982

Can "It" Happen Again? A Reprise, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

No abstract provided.

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Corporatism Within The Egyptian Context, Nahed Dajani Jul 1982

Corporatism Within The Egyptian Context, Nahed Dajani

Archived Theses and Dissertations

No abstract provided.

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Vertical Linkages And Multinational Enterprises In Developing Countries, Linda Y. C. Lim, Eng Fong Pang Jul 1982

Vertical Linkages And Multinational Enterprises In Developing Countries, Linda Y. C. Lim, Eng Fong Pang

Research Collection Lee Kong Chian School Of Business

Many studies have concluded that multinational firms do not create significant technical and other vertical linkages in developing host countries. This case study of three multinational firms in the export-oriented electronics industry in Singapore shows that under certain conditions multinational firms can lead in creating local vertical linkages. It suggests that restrictive government policies to increase local purchases may not be necessary, effective or desirable in promoting local linkages by export-oriented multinational firms that respond primarily to international market conditions. The Singapore experience poinst to the importance of a healthy investment climate and rapid economic growth in encouraging multinational firms …

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Basic Needs, Inflation, And The Poor Of Egypt, 1970-1980, Myrette Ahmed El-Sokkari Jul 1982

Basic Needs, Inflation, And The Poor Of Egypt, 1970-1980, Myrette Ahmed El-Sokkari

Archived Theses and Dissertations

No abstract provided.

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Nigeria And Opec: To Be Or Not To Be?, G. O. Nwankwo Jun 1982

Nigeria And Opec: To Be Or Not To Be?, G. O. Nwankwo

Economic and Financial Review

According to the Economist, 'Oil multiplied Nigeria's exports by a factor of 10 in the 1970s, and its imports by a factor of 11. This fuelled Nigeria's honourable ambitions to emerge as the greatest power in Africa. The country's rulers are bitterly disappointed by the way the oil glut has partially devalued this great natural resource. So are some exporters to it. '1 In the wake of this unhappy state of affairs, Nigeria has taken steps to redress the situation. Some people, however, argue that the most effective action Nigeria should take is to lower the price of her oil …

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Review Of Nigeria's Balance Of Payments: Development During The First Half Of 1982, Central Bank Of Nigeria Cbn Jun 1982

Review Of Nigeria's Balance Of Payments: Development During The First Half Of 1982, Central Bank Of Nigeria Cbn

Economic and Financial Review

Estimates for the first half of 1982, showed that Nigeria's balance of payments resulted in a deficit ofNl,583.4 million as against a revised surplus of N 53.1 million for the same period of 1981. But compared to the deficit of N3,020.1 million for the second half of 1981, the balance of payments situation, represents an improvement.

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Oil In The Political Economy Of Nigeria, E. I. K. Sule Jun 1982

Oil In The Political Economy Of Nigeria, E. I. K. Sule

Economic and Financial Review

The oil industry is perhaps one of the most important and largest industries in the world. Through its wide areas of operation, nature of product demand and international network of operating companies, the industry affects every country in today's civilised world. As a result, a day hardly passes without oil being in the news. The industry has bestowed great financial power on oil producers some of which belong to the third world.

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Statistical Section (June 1982), Central Bank Of Nigeria Cbn Jun 1982

Statistical Section (June 1982), Central Bank Of Nigeria Cbn

Economic and Financial Review

This is a statistical representation of the economic activities in Nigeria in June 1982

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What Influences Rural Manufacturing And Processing Development In South Dakota?, Thomas L. Dobbs Jun 1982

What Influences Rural Manufacturing And Processing Development In South Dakota?, Thomas L. Dobbs

Economics Commentator

No abstract provided.

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A Theory Of Economic Loss In The Law Of Torts, Mario Rizzo Jun 1982

A Theory Of Economic Loss In The Law Of Torts, Mario Rizzo

Mario Rizzo

This article contains a general theory that explains why pure economic loss ( that is, financial loss not associated with physical harm to the person or property of the plaintiff) is not to be recoverable at times and is recoverable at other times. The theory stresses the importance in the law of reducing contracting costs while still providing incentives to avoid true social costs.

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A Bookmaker Or Market Type Test For Specification In Discrete Choice Models, John J. Beggs Jun 1982

A Bookmaker Or Market Type Test For Specification In Discrete Choice Models, John J. Beggs

Cowles Foundation Discussion Papers

This paper suggests that the predicted probabilities of outcomes given by an estimated discrete choice model by thought of as prices (or bookmaker odds) associated with those outcomes. By buying or selling contracts (gambling) at those prices (odds) it should not be possible to, on average, make a profit if the model is well specified and is generating “correct” prices. This notion then forms the basis of a model specification test.

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Integral Polyhedra In Three Space, Herbert E. Scarf Jun 1982

Integral Polyhedra In Three Space, Herbert E. Scarf

Cowles Foundation Discussion Papers

No abstract provided.

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