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Full-Text Articles in Social and Behavioral Sciences

Partially Identified Econometric Models, Peter C.B. Phillips Jul 1987

Partially Identified Econometric Models, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper studies a class of models where full identification is not necessarily assumed. We term such models partially identified. It is argued that partially identified systems are of practical importance since empirical investigators frequently proceed under conditions that are best described as apparent identification. One objective of the paper is to explore the properties of conventional statistical procedures in the context of identification failure. Our analysis concentrates on two major types of partially identified model: the classic simultaneous equations model under rank condition failures; and time series spurious regressions. Both types serve to illustrate the extensions that are needed …

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Bivoltine Sericulture Programme In Karnataka: A Pilot Study, S Satish Jul 1987

Bivoltine Sericulture Programme In Karnataka: A Pilot Study, S Satish

IIMB Management Review

Karnataka ranks first among the states producing raw sllk in India. Entire silk production in Karnataka is of mulberry silk, a produce of the insect Bombyx mori, accounting for about 83 per cent of the country’s mulberry silk production. Sericulture is practised in about 12,300 villages spread over 14 districts. The cocoon rearing was earlier confined to the districts of Mysore, Mandya, Bangalore, Kolar and Tumkur - referred to as old areas. Now it has spread to other districts providing sustenance to about 5.31 lakh families’.

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James A. Boutilier's Review Of Maslyn Williams And Barrie Macdonald's The Phosphateers: A History Of The British Phosphate Commissioners And The Christmas Island Phosphate Commission, James A. Boutilier Jul 1987

James A. Boutilier's Review Of Maslyn Williams And Barrie Macdonald's The Phosphateers: A History Of The British Phosphate Commissioners And The Christmas Island Phosphate Commission, James A. Boutilier

Pacific Studies

No abstract provided.

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Technology Development: Were The Developing Countries On The Wrong Track During The Last Three Decades?, C V S Ratnam Jul 1987

Technology Development: Were The Developing Countries On The Wrong Track During The Last Three Decades?, C V S Ratnam

IIMB Management Review

Since the end of World War II, the tremendous development of technology, and its application in producing goods and services in abundance continued to make life of human beings satisfactory. In this effort, countries in Europe, the USA and later on Japan made great progress. Witnessing these developments, developing countries in Asia, Africa and Latin America made efforts to encourage pursuit of science and technology and their applications for the establishment of industry, and production of goods and services for their people. However, advances that had taken place in countries in Europe, the USA and Japan did not come about …

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The Intergenerational Invisible Hand: A Comment On Sartorius's "Government Regulation And Intergenerational Justice", Arthur M. Diamond Jr. Jul 1987

The Intergenerational Invisible Hand: A Comment On Sartorius's "Government Regulation And Intergenerational Justice", Arthur M. Diamond Jr.

Economics Faculty Publications

In "Government Regulation and Intergenerational Justice," Rolf Sartorius argues that some government regulation is justified in order to protect the rights of the unborn.' More than half of his paper is a discussion of the theory that views the only justifiable function of government as the "umpirage of the law of nature." In the remainder of his paper, he argues for an extension of the theory in order to justify regulation as well as umpirage. In particular, he argues that protecting the rights of the unborn represents an especially strong case where government regulation is justified.

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Vol. 10 No. 3 (1987): Pacific Studies Front Matter, The Jonathan Nāpela Center For Hawaiian And Pacific Islands Studies Jul 1987

Vol. 10 No. 3 (1987): Pacific Studies Front Matter, The Jonathan Nāpela Center For Hawaiian And Pacific Islands Studies

Pacific Studies

Pacific Studies is published two times a year by The Jonathan Nāpela Center for Hawaiian and Pacific Studies, Brigham Young University Hawai‘i #1979, 55–220 Kulanui Street, Lāʻie, Hawai‘i 96762, but responsibility for opinions expressed in the articles rests with the authors alone. Subscription rate is US$40.00 yearly, payable to The Jonathan Nāpela Center for Hawaiian and Pacific Studies. The Jonathan Nāpela Center for Hawaiian and Pacific Studies (formerly The Pacific Institute) is an organization funded by Brigham Young University Hawai‘i. The Center assists the University in meeting its cultural and educational goals by undertaking a program of teaching, research, and …

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Vol. 10 No. 3 (1987): Pacific Studies Full Issue, The Jonathan Nāpela Center For Hawaiian And Pacific Islands Studies Jul 1987

Vol. 10 No. 3 (1987): Pacific Studies Full Issue, The Jonathan Nāpela Center For Hawaiian And Pacific Islands Studies

Pacific Studies

Pacific Studies is published two times a year by The Jonathan Nāpela Center for Hawaiian and Pacific Studies, Brigham Young University Hawai‘i #1979, 55–220 Kulanui Street, Lāʻie, Hawai‘i 96762, but responsibility for opinions expressed in the articles rests with the authors alone. Subscription rate is US$40.00 yearly, payable to The Jonathan Nāpela Center for Hawaiian and Pacific Studies. The Jonathan Nāpela Center for Hawaiian and Pacific Studies (formerly The Pacific Institute) is an organization funded by Brigham Young University Hawai‘i. The Center assists the University in meeting its cultural and educational goals by undertaking a program of teaching, research, and …

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Joint Venture Rice Production In The Solomon Islands: The Inner Workings Of Dependent Development, Sonia P. Juvik Jul 1987

Joint Venture Rice Production In The Solomon Islands: The Inner Workings Of Dependent Development, Sonia P. Juvik

Pacific Studies

No abstract provided.

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Noel J. Kent's Review Of Edward D. Beechert's Working In Hawaii: A Labor History, Noel Jay Kent Jul 1987

Noel J. Kent's Review Of Edward D. Beechert's Working In Hawaii: A Labor History, Noel Jay Kent

Pacific Studies

No abstract provided.

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Patricia Polansky's Review Of Elena Viktorovna Govor's Bibliografiia Avstralii, 1710-1983 (A Bibliography Of Australia, 1710-1983), Patricia Polansky Jul 1987

Patricia Polansky's Review Of Elena Viktorovna Govor's Bibliografiia Avstralii, 1710-1983 (A Bibliography Of Australia, 1710-1983), Patricia Polansky

Pacific Studies

No abstract provided.

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A Fiscal Impact Analysis Of Alternative_July 1987, David Boldt, Brian Mcdonald Jul 1987

A Fiscal Impact Analysis Of Alternative_July 1987, David Boldt, Brian Mcdonald

BBER Publications

A Fiscal Impact Analysis of Alternative Development Scenarios for the Volcano Cliffs Subdivision (July 1987) is a policy and planning study prepared by David Boldt and Brian McDonald of the Bureau of Business and Economic Research (BBER), University of New Mexico, for the City of Albuquerque Planning Division. The report evaluates the fiscal consequences of extending municipal services and infrastructure to the Volcano Cliffs subdivision in Albuquerque's Northwest Mesa under several alternative development and open-space preservation scenarios.

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Monetary Aggregates As A Target Variable: A Comment, Abdur Chowdhury Jul 1987

Monetary Aggregates As A Target Variable: A Comment, Abdur Chowdhury

Economics Faculty Research and Publications

No abstract provided.

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A Reexamination Of The Effect Of Rapid Military Spending On Inflation, Farrokh Nourzad Jul 1987

A Reexamination Of The Effect Of Rapid Military Spending On Inflation, Farrokh Nourzad

Economics Faculty Research and Publications

The hypothesis that rapid defense buildups contribute to inflation recently has been rejected by Donald F. Vitaliano. In this paper, it is argued that this result is misleading, given that it is obtained under the implausible assumption of constancy of the expected real rate of interest. The hypothesis is reexamined using a well-known measure of the expected inflation rate, and it is found that growth of defense spending has a statistically significant positive effect on the rate of price inflation.

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A Fiscal Impact Analysis Of Alternative _July 1987, David Boldt, Brian Mcdonald Jul 1987

A Fiscal Impact Analysis Of Alternative _July 1987, David Boldt, Brian Mcdonald

BBER Publications

A Fiscal Impact Analysis of Alternative Development Scenarios for the Volcano Cliffs Subdivision (July 1987) is a policy and planning study prepared by David Boldt and Brian McDonald of the Bureau of Business and Economic Research (BBER), University of New Mexico, for the City of Albuquerque Planning Division. The report evaluates the fiscal consequences of extending municipal services and infrastructure to the Volcano Cliffs subdivision in Albuquerque's Northwest Mesa under several alternative development and open-space preservation scenarios.

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Fiscal Impact Analysis For Volcano Cliff_Jul 1987, David Boldt, Brian Mcdonald Jul 1987

Fiscal Impact Analysis For Volcano Cliff_Jul 1987, David Boldt, Brian Mcdonald

BBER Publications

The report evaluates the fiscal consequences of alternative development and open-space preservation options for the Volcano Cliffs subdivision on Albuquerque's West Mesa. The study examines impacts on the City's General Fund, General Obligation Bond Fund, and Joint Water and Sewer Funds, comparing the costs of municipal services and infrastructure against projected tax and utility revenues under four alternative land-use scenarios.

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Is Alternative Agriculture For You?, Burton W. Pflueger, Julie Hedin Jun 1987

Is Alternative Agriculture For You?, Burton W. Pflueger, Julie Hedin

Economics Commentator (1972- 2016)

No abstract provided.

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Book Review Of Legal Problems Of International Economic Relations, International Trade And Investment, & International Business Transactions, Mark Weston Janis Jun 1987

Book Review Of Legal Problems Of International Economic Relations, International Trade And Investment, & International Business Transactions, Mark Weston Janis

Journal of Legal Education

No abstract provided.

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Using The Toledo Corn Basis To Improve Corn Marketing Decisions, Brian H. Schmiesing Jun 1987

Using The Toledo Corn Basis To Improve Corn Marketing Decisions, Brian H. Schmiesing

Economics Commentator (1972- 2016)

No abstract provided.

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Brief Biographical Sketch Of Marco Vitale, Hyman P. Minsky Ph.D. Jun 1987

Brief Biographical Sketch Of Marco Vitale, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Handwritten travel plans and bio of Marco Vitale.

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Joint Distribution Theory For Some Statistics Based On Liml And Tsls, Grant H. Hillier Jun 1987

Joint Distribution Theory For Some Statistics Based On Liml And Tsls, Grant H. Hillier

Cowles Foundation Discussion Papers

In the context of a single linear structural equation under classical assumptions, we derive the joint conditional density of the LIML endogenous coefficient estimator, and the usual characteristic root arising from the LIML procedure, given the OLS estimates of the reduced form coefficients for the excluded exogenous variables. This provides the joint distributions for various combinations of the statistics commonly used for inference in this model, and is hence an important stepping stone in the analysis of these procedures. The main result also leads to a new derivation of the density of the LIML estimator itself, and provides a result …

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Effects Of The Changing U.S. Age Distribution On Macroeconomic Equations, Ray C. Fair, Kathryn M. Dominguez Jun 1987

Effects Of The Changing U.S. Age Distribution On Macroeconomic Equations, Ray C. Fair, Kathryn M. Dominguez

Cowles Foundation Discussion Papers

The effects of the changing U.S. age distribution on various macroeconomic equations are examined in this paper. The equations include consumption, money demand, housing investment, and labor force participation equations. Seven groups are analyzed: 16-19, 20-24, 30-39, 40-54, 55-64, and 65+. There seems to be enough variance in the age distribution data to allow reasonably precise estimates of the effects of a number of age categories on the macro variables. The results show that, other things being equal, age groups 30-39 and 40-54 consume less than average, invest less in housing than average, and demand more money than average. Age …

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Valuation And Optimality In Exchange Economies With A Countable Number Of Agents, Charalambos D. Aliprantis, Donald J. Brown, Owen Burkinshaw Jun 1987

Valuation And Optimality In Exchange Economies With A Countable Number Of Agents, Charalambos D. Aliprantis, Donald J. Brown, Owen Burkinshaw

Cowles Foundation Discussion Papers

We present versions of the two fundamental welfare theorems of economics for exchange economies with a countable number of agents and an infinite dimensional commodity space. These results are then specialized to the overlapping generations model.

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Silver And Gold And Liquidity, Martin Shubik Jun 1987

Silver And Gold And Liquidity, Martin Shubik

Cowles Foundation Discussion Papers

A simple model with trade in gold is explored where the cost of liquidity is measured in terms of utility foregone by using the gold as a money or means of payment rather than for utilitarian purposes. We close with remarks on the use of both silver and gold.

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Asymptotic Properties Of Residual Based Tests For Cointegration, Peter C.B. Phillips, Sam Ouliaris Jun 1987

Asymptotic Properties Of Residual Based Tests For Cointegration, Peter C.B. Phillips, Sam Ouliaris

Cowles Foundation Discussion Papers

This paper develops an asymptotic theory for residual based tests for cointegration. These tests involve procedures that are designed to detect the presence of a unit root in the residuals of (cointegrating) regressions among the levels of economic time series. Attention is given to the augmented Dickey-Fuller (ADF) test that is recommended by Engle-Granger (1987) and the Z(a) and Z(t) unit root tests recently proposed by Phillips (1987). TWo new tests are also introduced, one of which is invariant to the normalization of the cointegrating regression. All of these tests are shown to be asymptotically similar and simple representations of …

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Developments In The Financial System During The Second Quarter Of 1987, Central Bank Of Nigeria Cbn Jun 1987

Developments In The Financial System During The Second Quarter Of 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

Money supply, Ml declined by_ a further 3.5 per c~nt in the second quarter of 1987 followmg the seasonal decline of 3.8 per cent in the first quarter. The broader ~easure of money stock, M2 which declined by 0.8 per cent m the first quarter, showed an increase of 1.4 per cent in the second quarter. While sharp declines in "other" assets (net) ~d foreign assets depressed Ml in the first quarter, the ma1or contractionary factor in the second quarter was the sharp increase in quasi-money. The pace of expansion of banking system credit to the domestic economy quickened in …

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Developments In The Agricultural Sector During The Second Quarter Of 1987, Central Bank Of Nigeria Cbn Jun 1987

Developments In The Agricultural Sector During The Second Quarter Of 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

The widespread concern expressed about possible adverse effects of late arrival of rains abated slightly towards the end of the quarter. This was because in the south, middle belt and sudan savannah regions, the level of rain allowed early crops like maize, yam, groundnut and vegetables to be planted, nurtured and in some cases harvested. In the northern parts of the country, especially the sahelian zones, farmers experienced their first rains which facilitated land preparation activities as well as plan ting, especially in Kaduna, Bomo and Sokoto states. A total of 130, 952.35 tonnes of fertiliser were discharged at the …

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Stock Market Report For The Second Quarter Of 1987, Central Bank Of Nigeria Cbn Jun 1987

Stock Market Report For The Second Quarter Of 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

Transaction in equity on the NigeriaJ1 Stock Exchange declined during the second quarter when the number of equities traded fell from 5.5 million in 5 333 deals in the first quarter, to 5.4 million in 4,605 deals. 'The decline con: trasted with a substantial increase of 73.4 per cent over the 3.1 million shares swapped in the corresponding quarter of 1986. The factor responsible for the slump in trading activities during the review period was poor corporate trading results in some quoted companies.

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Report On Retail Price Indices Of Selected Consumer Items In Lagos Area During The Second Quarter Of 1987, Central Bank Of Nigeria Cbn Jun 1987

Report On Retail Price Indices Of Selected Consumer Items In Lagos Area During The Second Quarter Of 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

The Report on the retail price movements was compiled from data coilected during bi-monthly market surveys conducted in thirteen Markets in the Lagos area. The indices are computed on a monthly basis and aggregated over a period of three months for the relevant quarter.

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Developments In Nigeria's External Sector During The Second Quarter Of 1987, Central Bank Of Nigeria Cbn Jun 1987

Developments In Nigeria's External Sector During The Second Quarter Of 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

Transactions in foreign exchange through the Central Bank of Nigeria resulted in a net inflow of N 189 .3 million during the second quarter of 1987, in contrast with a net outflow of N819.0 million in the preceding quarter. As a result, the level of official reserves moved up from N2,785 .2 million in March toN2,974.5_million at the end of June. The increase notwithstanding, the June-end level of reserves was N629. 7 million lower than the December 1986 level and was adequate to finance only 1.8 months of the foreign exchange obligations at the prevailing rate of disbursements.

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Inter-Sectoral Financing In Nigeria: 1986, Central Bank Of Nigeria Cbn Jun 1987

Inter-Sectoral Financing In Nigeria: 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

The report shows that the domestic economy was able to finance a sharp increase in capital formation in 1986. Insurance, Oil and Non-oil Businesses and Households, were the net surplus sectors while the governments (Federal and State), Commercial Banks, and OJi.er financial institutions excluding Insurance Companies were the net deficit sectors. Analysis of the financial intermediation during the year showed that lending by the banking system to the economy increased by subtantially more than the increase in the various sectors' deposits with the banks. Activities in the financial markets were dominated by transactions in foreign exchange which accelerated sharply during …

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