Social and Behavioral Sciences Commons^™

Survey Of Santa Fe Convention_10-30-1990, John L. Temple

BBER Publications

The study examined travel behavior, visitor demographics, spending patterns, accommodations, transportation choices, and visitor satisfaction among both past visitors and prospective visitors to Santa Fe.

1990 Gallup Convention And Visitors Bureau Survey, John Temple

BBER Publications

This report details the findings of a visitor survey conducted in June 1990 to the Gallup area and the impacts of its patrons. On average, visitors in Gallup spent about $163 a day for about 1.9 days, resulting in a total impact of $580,400 to $2,734,600.

Credit And Finance In The Emerging “Great Europe”, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Remarks prepared for a meeting of the Monte dei Paschi di Siena Forum, Siena, Italy. Nov. 23, 1990.

In addition to the main article, three other copies are presented: One showing handwritten edits to the pages, the next also showing postit notes on those same pages, and a third is an earlier draft of this paper dated 13 October 1990.

The Victory Of Capitalism, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

No abstract provided.

Free Bank Failures In New York And Wisconsin: A Portfolio Analysis, Andrew J. Economopoulos

Business and Economics Faculty Publications

Rolnick and Weber found that a sharp decline in asset prices led to bank panics and, ultimately, bank failures during the free banking era. An examination of New York and Wisconsin free bank portfolios prior to a fall in asset prices indicates banks that weathered the turmoil held significantly different portfolios than closed banks. In general, solvent banks held more loans and specie, and issued more deposits and less bank notes than closed banks.

Estimation Of Multinomial Models Using Weak Monotonicity Assumptions, Rosa L. Matzkin

Cowles Foundation Discussion Papers

This paper introduces a semiparametric method of estimating multinomial models that imposes extremely weak monotonicity assumptions about a function of observable characteristics. Previous methods have imposed stronger, typically parametric, conditions on this function. The only assumptions made in this paper about the function of characteristics are its monotonicity, upper-semicontinuity, and uniform boundedness. The method is applicable, among others, to polychotomous choice models. The estimation method is shown to be strongly consistent. A technique to calculate the estimator is provided.

The Price For The Widow's Cruse: Or The Value Of An Infinitely Productive Asset, Martin Shubik

Cowles Foundation Discussion Papers

This paper considers two basic problems: The first is the necessity for introducing government money (as contrasted with individual credit) and an infinitely lived government in an overlapping generations economy. The second concerns the evaluation of the price of an infinitely productive asset in an economy without a natural discount factor.

Least Concavity And The Distribution-Free Estimation Of Non-Parametric Concave Functions, Rosa L. Matzkin

Cowles Foundation Discussion Papers

This paper studies the estimation of fully nonparametric models in which we can not identify the values of a symmetric function that we seek to estimate. I develop a method of consistently estimating a representative of a concave and monotone nonparametric systematic function. This representative possesses the same isovalue sets as the systematic function. The method proceeds by characterizing each set of observationally equivalent concave functions by a unique “least concave” representative. The least concave representative of the equivalence class to which the systematic function belongs is estimated by maximizing a criterion function over a compact set of least concave …

Debt Crisis In The West African Sub-Region: Which Way Out?, M A. Uduebo

Bullion

The resolution of the debt problem has continued to engage the attention of the international community. In reaction to the problem, many debtor countries have adopted structural adjustment programmes and various proposals have been espoused and, in some cases, implemented. Nevertheless, the debt crisis is far from being resolved. It is now patently clear that a more realistic solution to the problem is needed in the 1990s to break the debt trap. This forum graced by eminent bankers, offers another opportunity to re-examine the salient issues and proffer new ideas and suggestions on how best to address the situation. The …

Changes In Income Distribution In Poor Agricultural Nations: Malawi And Madagascar, Frederic L. Pryor

Economics Faculty Works

No abstract provided.

The Slowdown In Soviet Defense Expenditures: Comment, Abdur Chowdhury, Josef C. Brada, Ronald L. Graves

Economics Faculty Research and Publications

The reason for the apparently opposing results in Brada and Graves' (1988) attempt to explain the reasons for the slowdown in USSR defense expenditures in the mid-1970s is that their analysis suffers from a serious serial correlation problem. The majority of the regressions display Durbin-Watson statistics that reject the null hypothesis of no autocorrelation. A reestimation of their results, after correcting for serial correlation, changes some of their major conclusions regarding the factors influencing Soviet defense spending. The corrected results indicate that no structural break occurred in the mid-1970s. These results suggest that there has been no change in Soviet …

The Changing U.S. Economic Outlook, Murray L. Weidenbaum

Murray Weidenbaum Publications

Economist Murray Weidenbaum presents his outlook on the U.S. economy as it transitions from the longest peacetime expansion in its history to an economic recession.

New Mexico Labor Market Review 09-30-1990, 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 August of 1990. It is a report on the state's employment and economic activity.

Inefficiency Of Strategy-Proof Allocation Mechanisms In Pure Exchange Economies, Lin Zhou

Cowles Foundation Discussion Papers

In this paper I prove that in the standard model of 2 times n ( n > 2) pure exchange economies there is no allocation mechanism that is efficient, non-inversely-dictatorial, and strategy-proof. This strengthens two previous results on this subject by Hurwicz and by Dasgupta, Hammond, and Maskin.

Smooth Unbiased Multivariate Probability Simulators For Maximum Likelihood Estimation Of Limited Dependent Variable Models, Vassilis A. Hajivassiliou, Axel Borsch-Supan

Cowles Foundation Discussion Papers

We apply a new simulation method that solves the multidimensional probability integrals that arise in maximum likelihood estimation of a broad class of limited dependent variable models. The simulation method has four key features: the simulated choice probabilities are unbiased; they are a continuous and differentiable function of the parameters of the model; they are bounded between 0 and 1; and their computation takes an effort that is nearly linear in the dimension of the probability integral, independent of the magnitudes of the true probabilities. We also show that the new simulation method produces probability estimates with substantially smaller variance …

Stock Prices And Bond Yields: Can Their Co-Movements Be Explained In Terms Of Present Value Models?, Robert J. Shiller, Andrea E. Beltratti

Cowles Foundation Discussion Papers

Real stock prices seem to overreact to changes in long-term interest rates. That is, real stock prices drop when long-term interest rates rise (and rise when they fall) more than would be implied by a rational expectations present value model where expectations are based on a vector autoregression. This overreaction is not associated with any overreaction to changes in the short-run inflation rate. Over the last century real stock prices have shown little reaction to changes in inflation rates, and according to the model they should show little reaction. These conclusions were reached from an analysis of annual data in …

Perceived Stress, Social Support And Survival: North Carolina Farm Operators And The Farm Crisis, Michael D. Schulman, Paula S. Armstrong

The Journal of Sociology & Social Welfare

The current farm crisis draws attention to the sources and consequences of the stress process among farm operators. Using panel data from statewide surveys of North Carolina farm operators collected during a period of economic and ecological crisis, the relationships among perceived stress, social support, and survival in agriculture are investigated. Analyses reveal that while the level of perceived stress has no relationship with survival, social support has a significant impact upon both social psychological (plans to remain in farming) and behavioral (continuing as a farm operator) dimensions of survival in agriculture. Perceived social support increased plans to remain in …

The Controlling Role Of Central Bank Of Jordan On Money Supply, Khaled Wassef Al- Wazani

Archived Theses and Dissertations

No abstract provided.

Efficient Bargains In The Context Of Recent Labor Market Experience And Policy, Robert A. Hart, Thomas Moutos

Upjohn Institute Working Papers

In Europe in recent times, bargaining between a leading nationally-based industrial union and a representative group of employers over the issues of employment, wages and working time has proved to be influential in a much wider industrial context. Adopting a generalized Nash bargaining approach, this paper considers the possible effects on such "key" bargains of several prominent labor market events and policies experienced since the middle 1970s. These include the impacts of OPEC supply shocks, changes in union power, greater emphasis on payroll taxes as well as growing government economic orthodoxy as expressed through the goal of a balanced budget.

The Hybrid Solutions Of An N-Person Game, Jingang Zhao

Cowles Foundation Discussion Papers

We introduce a solution concept intermediate between the cooperative and noncooperative solutions of an n -person game in normal form. Consider a partition p of the players, with each s in p a coalition. A joint strategy x = { x s | s in p } is a hybrid solution for the partition p if, for each s in p , x s is a core solution of the corresponding parametric subgame, where this game isplayed by the players in s and is parameterized by x -s , the strategies played by all outside players. This assumes that players …

Introduction To The Modern Corporation And Private Property, Murray L. Weidenbaum

Murray Weidenbaum Publications

In their introduction to the new edition of The Modern Corporation and Private Property, Weidenbaum and Jensen critically assess the impact of developments not fully anticipated by Adolf Berle and Gardiner Means, such as the rise of the service sector, and the significant role played by institutional investors in the owner/manager equation. They note the authors' prescient observations, including the complex role of and motivating influences on professional managers, and the significance of inside information on stock markets.

What Is The Right Energy Policy For America?, Murray L. Weidenbaum

Murray Weidenbaum Publications

Addressed are the nation's options for energy policies heading into the 1990s and the need for less government regulation and more market interactions for price-setting. Such a policy should also include the full environmental costs to production as a way to help reduce excessive energy usage.

New Mexico County Profiles_Sep 1990, University Of New Mexico Bureau Of Business And Economic Research

BBER Publications

the report provides a valuable county-by-county statistical portrait of New Mexico immediately before the economic and demographic growth that characterized much of the 1990s.

New Mexico County Profiles_Sept 1990, University Of New Mexico Bureau Of Business And Economic Research

BBER Publications

The report begins with a statewide overview describing New Mexico's population, economy, educational attainment, housing characteristics, employment structure, public assistance participation, gross receipts, tourism activity, agriculture, construction, mining, banking, and economic trends. It also provides population projections through 2010 prepared by BBER.

Taiwan's Economic Development, Liwen Chang

Theses

Development, by definition, brings new resources into a society that allow for a higher standard of living. Many developing nations which changed from a traditional survival type society to a self-supporting society experienced a high rate of economic growth after the World War II. No matter what route these countries or regions took to success, in the process of development they all faced similar international trade and balance of payments problems.

This paper presents a case study of Taiwan as a developing country's model. Taiwan certainly qualifies as a successful example of development. Although there is really no complete normative …

New Mexico Labor Market Review 08-31-1990, 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 July of 1990. It is a report on the state's employment and economic activity.

Program For Workshop On Changes In Economic Institutions And The Mitteleuropean Question,, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Program for 9th International Summer School of Economics. Marina Di Aurisina (Trieste, Italy), Aug. 21-29, 1990. Workshop on Changes in Economic Institutions and the MittelEuropean Question, Aug. 30-31, 1990.

Endogeneity Of Money, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

No abstract provided.

A Study Of Pease Elementary School, Odessa, Texas; The Development Of The Pease Elementary School Neighborhood And Its Changing Demographic Characteristics, Harriet Jan Rudd

Graduate Theses

The economic development of the city of Odessa flourished when oil was discovered in the Permian Basin. Oil field service businesses opened which provided jobs for the educated as well as for the uneducated. These available jobs encouraged people to move to Odessa. In 1958, Pease Elementary was built. The area around the school was being developed by local developers. The city grew to the east which decreased development in west Odessa. There have been no significant residential developments in the Pease neighborhood since 1981. This neighborhood has basically been unchanged for ten years. During this time the properties have …

A Functional Central Limit Theorem For Strong Mixing Stochastic Processes, Donald W.K. Andrews, David Pollard

Cowles Foundation Discussion Papers

This paper shows how the modern machinery for generating abstract empirical central limit theorems can be applied to arrays of dependent variables. It develops a bracketing approximation based on a moment inequality for sums of strong mixing arrays, in an effort to illustrate the sorts of difficulty that need to be overcome when adapting the empirical process theory for independent variables. Some suggestions for further development are offered. The paper is largely self-contained.