Social and Behavioral Sciences Commons^™

Notes On: Proposal For A Conference At The University Of "Bergamo", Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

No abstract provided.

Feeding Versus Selling Cull Cows; Marketing Plan Execution, Dillion M. Feuz, Richard Shane

Economics Commentator (1972- 2016)

No abstract provided.

The Financial Instability Hypothesis And Current Common Problems Of Rich Capitalist Economies, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Prepared for presentation at the A. Fausto Vicarelli Lecture at the University of Macerata, Italy.

Also included are the notes for the talk.

Ethics And Capitalism, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Notes for Conference on Ethics and Capitalism held at the Levy Economics Institute.

State And Local Tax Policy; Non-Trader Use Of Futures: Sell Or Store, Scott W. Fausti, Richard Shane

Economics Commentator (1972- 2016)

No abstract provided.

Failed And Successful Capitalisms: Lessons From The Twentieth Century, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

A talk prepared for the Jerome Levy Economics Institute Series at Bard College. To be delivered Nov. 10, 1994. Upload version is dated after the Series.Presumably, the 7 November paper was the one delivered.

Error Bands For Impulse Responses, Christopher A. Sims, Tao Zha

Cowles Foundation Discussion Papers

We examine the theory and behavior in practice of Bayesian and bootstrap methods for generating error bands on impulse responses in dynamic linear models. The Bayesian intervals have a firmer theoretical foundation in small samples, are easier to compute, and are about as good in small samples by classical criteria as are the best bootstrap intervals. Bootstrap intervals based directly on the simulated small-sample distribution of an estimator, without bias correction, perform very badly. We show that a method that has been used to extend to the overidentified case standard algorithms for Bayesian intervals in reduced form models is incorrect, …

Edgeworth Approximation For Minpin Estimators In Semiparametric Regression Models, Oliver B. Linton

Cowles Foundation Discussion Papers

We examine the higher order asymptotic properties of semiparametric regression estimators that were obtained by the general MINPIN method described in Andrews (1989). We derive an order n –1 stochastic expansion and give a theorem justifying order n – 1 distributional approximation of the Edgeworth type.

Subsidizing Increased Employment For The Urban Poor: What Labor Market Problems Might Justify It?, Timothy J. Bartik

Conference Papers

No abstract provided.

How To Restore Employee Trust In Management: A New Social Contract For The American Workplace, Murray L. Weidenbaum

Murray Weidenbaum Publications

The number of layoffs and the amount of downsizing in corporate America are both happening at unprecedented rates. Firing workers has falsely become the ultimate management tool to success. The old social contract of work in exchange for fair pay and some measure of job security is deteriorating. Accordingly, this paper introduces a new social order that replaces paternalism with partnership, views employees as value-adding resources, and focuses both employers and employees on meeting the customers' needs and desires.

A New Social Contract For The American Workplace: From Paternalism To Partnering, Murray L. Weidenbaum, Kenneth W. Chilton

Murray Weidenbaum Publications

As American business struggles to cope with global competition, technological breakthroughs, and various forms of deregulation, the workplace is being thrown into turmoil. Against this backdrop, 1994 is also on pace to set a record for publicly announced downsizings, most of them justified under the banner of "restructuring." This study is the first comprehensive look at this evolving picture.

The Economics Of Controls And Deregulation: The Nigerian Case Study, M. O. Ojo

CBN Occasional Papers

The abandonment of economic controls and the adoption of deregulatory measures in the mid-1 980s were expected to usher in economic recovery and sustained growth in Nigeria. In the wake of the apparent failure of the adopted policy regime to attain that primary goal, there Is a need to investigate the efficacy of the policy instruments adopted and the fundamental causes of persistent economic downturn. The paper reviews Nigeria’s experiences in the use of economic control tools and measures of liberalisation, as well as the international evidence. A major finding of the study is that the programme of deregulation was …

New Mexico Labor Market Review 10-31-1994, New Mexico Department Of Labor

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers September 1994.

Comparative Efficiencies: National And Military Service, John Sondey

Economics Staff Paper Series (1969 - 2017)

The National Service Act of 1993 is viewed as a means of inculcating a sense of personal and social responsibility in young adults. The present emphasis on fiscal responsibility and budget reduction implies that any new expenditure program be funded by either: (a) reductions in present programs; or, (b) new taxes. As new taxes are regarded as "politically incorrect" by legislators seeking to extend their tenure, program cuts become mandatory. It is proposed that military downsizing is one means of funding national service; and that the tradeoff is suboptimal. Downsizing adversely affects minorities and the least skilled - who benefit …

The Influence Of International On Union Firm Hiring And Worker Union Choice, Dwight Adamson, Mark Partridge

Economics Staff Paper Series (1969 - 2017)

Union opposition to free trade policies suggests that international trade damages the union movement. Previous research has found little relationship between union wages and international trade. However, greater trade may hinder unions by reducing the likelihood that workers enter the union sector. A bivariate partial observability probit model is used to predict union choice with respect to risk aversion, union strategic behavior, and product market effects of trade. The model estimates the probability of workers entering the union sector queue and the probability of being hired from the union queue. The results suggest that trade has had some adverse effects …

Regulation And Supervision, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

This paper is the final copy. Notes for it are also available.

Uncertainty Over The Quality Of Labor Inputs: A Nonmonopoly Theory Of Union Wages And Hours Worked, Dwight Adamson, Scott Fausti

Economics Staff Paper Series (1969 - 2017)

Traditional theoretical explanations of union wage effects rely on a monopoly theory of wage determination. Using union monopoly power to set wages implies that unions face a tradeoff between higher wages and lower union sector employment. Earle and Pencavel (1990) find a positive union effect (relative to the nonunion sector) on wages and hours of work. Their empirical result appears to be inconsistent with the theoretical implications of union monopoly power. If unions are able to force unionized firms off their labor demand curve to the point where both wages and hours worked increase, then in a competitive environment, nonunion …

The Effect Of Economic Events On Votes For President: 1992 Update, Ray C. Fair

Cowles Foundation Discussion Papers

This paper updates through the 1992 election the equation originally presented in Fair (1978) explaining votes for president. Conditional predictions of the 1996 election are also made.

Review Of "Privatization In The Transition To A Market Economy: Studies Of Preconditions And Policies In Eastern Europe" By J. S. Earle, R. Frydman, And A. Rapaczynski, Frederic L. Pryor

Economics Faculty Works

No abstract provided.

Review Of Maynard Keynes, An Economist's Biography By D. Moggridge, John B. Davis

Economics Faculty Research and Publications

No abstract provided.

New Mexico Labor Market Review 09-30-1994, New Mexico Department Of Labor

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers August 1994.

Impacts Of Changing Techonolgy On Rental Shares; Early, Quick Harvest Pressures Row Crop Prcies, Larry Madsen, Richard Shane

Economics Commentator (1972- 2016)

No abstract provided.

Improving Education And Training For Economic Development, Joan Mcrae Stoia

New England Journal of Public Policy

This article explores the connections between workforce quality and economic prosperity, as well as the role of the Massachusetts education and training system, in developing and preserving that quality and supporting the state's key industries. It includes a review of the most recent employment trend and projection data available from the Massachusetts Department of Employment and Training, information about several business-based workplace education models, and a discussion of the specific education and training needs of workers across the age/skill continuum. For the purpose of this discussion, the education and training system are broadly defined to include existing public, private, and …

Access To Capital And Technical Assistance, Richard J. Ward

New England Journal of Public Policy

This article summarizes and analyzes the views of select leaders in business, labor, banking, the government, and academia with regard to the constraints, obstacles, and recommendations to achieve economic growth in Massachusetts. The role of the state government in addressing these issues receives special attention. Access to capital and technical assistance had been regarded by many as the key constraint, particularly during the recession of the early 1990s. The author analyzes inconvenient government systems, bottlenecks, and bureaucracy as throttling the flow of capital to small-business entrepreneurs. The analysis concludes, however, that unless the state cum federal government finds ways to …

Economic Growth Issues In Massachusetts Rural Areas And Small Cities, Nancy Goff

New England Journal of Public Policy

In developing a strategy for economic development, state government must consider the special needs of its small cities and rural areas. Well-meaning policies crafted for metropolitan areas have unintended and often negative consequences when applied statewide. This article is a revision of the author's topical discussion paper for the August 6, 1992, Conference on Rural and Small City Development at Mount Wachusett Community College, Gardner. It was used by the Massachusetts Executive Office of Economic Affairs and the University of Massachusetts in developing a statewide economic development strategy.

Budget Policy And Fiscal Crisis: A Political Matrix, Francis J. Leazes Jr., Robert Sieczkiewicz

New England Journal of Public Policy

A study of 134 Rhode Island programs, administered during the state's budget crisis in the fiscal years 1987 to 1991, yielded a number of important lessons. The more mandated formula spending there was in a budget, the more uncontrollable was the budget. There is a spending bias ingrained in the political culture. Some nonentitlement spending can be difficult to curtail. Cutback management strategies are inadequate to address significant revenue shortfalls. The authors present a political budget matrix designed to assist budget policymakers and staff in making educated assumptions about the way categories of programs may be treated during times of …

Capturing The Impacts Of North American Free Trade Agreement On South Dakota's Economy, Bashir Qasmi, Scott Fausti

Economics Staff Paper Series (1969 - 2017)

In August 1992, representatives of Canada, Mexico, and the United States concluded their negotiations of the North American Free Trade Agreement (NAFTA). The treaty has been subsequently signed and ratified by all three countries. As of January 1, 1994, NAFTA created the largest free trade area in the world, with more than 360 million people and a combined gross domestic product of roughly $6.5 trillion (in U.S. dollars). A comparison of NAFTA with the European Union (EU) is provided in appendix A. NAFTA essentially lifts trade barriers between Mexico, Canada, and the United States. At the time of signing of …

Publication List Economics Department: 1993 - 1994, Department Of Economics

Economics Pamphlet Series (1985-2016)

The publications listed herein were prepared during April 1993 - July 1994 by the faculty and graduate students in the Economics Department at South Dakota State University. The publications are arranged by series (Staff Paper, Research Paper, Economics Commentator, Experiment Station Bulletin, etc.). There is a subject matter index, author index and a Economics Faculty listing included also.

Nonstationary Time Series And Cointegration: Recent Books And Themes For The Future, Peter C.B. Phillips

Cowles Foundation Discussion Papers

Recent developments in nonstationary time series and cointegration are discussed and three new books in the area are reviewed. Some perspectives concerning the scope of current interest in the field are provided, and some novel themes for future research are outlined.

Model Determination And Macroeconomic Activity, Peter C.B. Phillips

Cowles Foundation Discussion Papers

The subject of this paper is modelling, estimation, inference and prediction for economic time series. Bayesian and classical approaches are considered. The paper has three main parts. The first is concerned with Bayesian model determination, forecast evaluation and the construction of evolving sequences of models that can adapt in dimension and form (including the way in which any nonstationarity in the data is modelled) as new characteristics in the data become evident. This part of the paper continues some recent work on Bayesian asymptotics by the author and Werner Ploberger, develops embedding techniques for vector martingales that justify the role …