Social and Behavioral Sciences Commons^™

The Use Of Expected Future Variables In Macroeconometric Models, Ray C. Fair

Cowles Foundation Discussion Papers

A more sophisticated expectational hypothesis than is traditionally used in the specification of macroeconometric models is tested in this paper. Economic agents are assumed to use a vector of variables Z t in forming their expectations for periods t + 1 and beyond. These expectations may or may not be rational in the Muth sense. The results provide some evidence in favor of the more sophisticated hypothesis, but they are not strong enough to allow much weight to be put on the hypothesis as yet. The evidence in favor of the hypothesis is strongest for households’ response to future wages …

General Equilibrium With Wage Rigidities: An Application To Belgium, Victor Ginsburgh, Ludo Van Der Heyden

Cowles Foundation Discussion Papers

This paper concerns an application to the Belgian economy of general equilibrium analysis in the presence of downward real wage rigidities. The model aims at explaining the short-run impact of recent income and exchange policies upon employment in Belgium. Mathematical programming techniques are used to compute equilibria.

Farm Policy Decisions--What Do South Dakota Farmers Think?, Larry Janssen, Mark Edelman

Economics Commentator (1972- 2016)

No abstract provided.

Process Evaluation Of The Implementation Of The Job Training Partnership Act: Phase 2. Sda Field Research Report, H. Allan Hunt

Reports

No abstract provided.

Demand Response And The Reform Of Indirect Taxes In Pakistan, Ehtishaw Ahmad, Hing-Man Leung, Nicholas Stern

Research Collection School Of Economics

The question of the appropriate tax rate for different commodities is important for policy making in a country like Pakistan. This involves not only revenue, which is an obvious and a major preoccupation of most governments, but also concerns the effects of tax changes on households in various circumstances, together with production decisions in many sectors of the economy. In this paper we shall be concerned with a preliminary evaluation of the Pakistan indirect tax system. We shall examine in further work, the analysis of direct taxes, the balance between direct and indirect taxes as well as the effects of …

Farm Policy Decisions--What Do South Dakota Farmers Think?, Larry Janssen, Mark Edelman

Economics Commentator (1972- 2016)

No abstract provided.

Prices, Employment, And Profit, Hyman P. Minsky Ph.D., Pierro Ferri

Hyman P. Minsky Archive

An original draft and a good copy of this article are also included.

Incentives In Manufacturing: The Carrot And The Stick, Frederic L. Pryor

Economics Faculty Works

No abstract provided.

On The Empirical Production Function, Mahmoud A Gamal

Archived Theses and Dissertations

No abstract provided.

Stability Comparisons Of Estimators, Donald W.K. Andrews

Cowles Foundation Discussion Papers

A property of estimators called stability is investigated in this paper. The stability of an estimator is a measure of the magnitude of the affect of any single observation in the sample on the realized value of the estimator. High stability often is desirable for robustness against misspecification and against highly variable observations. Stabilities are determined and compared for a wide variety of estimators and econometric models. Estimators considered include: least squares, maximum likelihood (including both LIML and FIML), instrumental variables, M-, and multi-stage estimators such as tow and three stage least squares, Zellner’s feasible Aikten estimator of the multivariate …

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

Faculty Books

The aim of the study is to see how the poor have fared over the 1970's: to evaluate whether their welfare improved or worsened. The cost of the private consumption goods will be estimated over the period of 1970-1982 using detailed information on the cost of food, clothing, and shelter for both urban and rural areas.

I.G. Farben's Petro-Chemical Plant And Concentration Camp At Auschwitz, Robert Simon Yavner

History Theses & Dissertations

This study examines the history of the petrochemical plant and concentration camp run by I.G. Farbenindustrie (the dominant German chemical company during World War II) at Auschwitz to decide upon the degree of Farben’s involvement with Hitler and the Holocaust. The study traces the construction of the plant to determine Farben's participation at Auschwitz. The main sources consulted were the transcripts of the postwar Farben trial at Nuremberg along with eyewitness accounts of members of the prosecution staff. Based on the court's verdict, one might conclude that I.G. Farben operated in a state of coercion during the war and could …

Microeconomics, Norms, And Rationality, Alexander J. Field

Economics

A divergence of views among microeconomists in general and game theorists in particular regarding the explanatory objectives of microeconomic theory has become apparent in recent years. This divergence concerns, most fundamentally, the question whether institutions, legal or customary rules, or social norms are to be classified among the endogenous as opposed to the exogenous variables in the framework of microeconomic analysis. 1 The majority of economists are probably agnostic or ambivalent on this question, not having confronted, or not having had to confront, the issue in their own work. Many have sidestepped it by treating institutions as immutable or by …

High Tech Wage Survey _July 1984, New Mexico Employment Security Department

Historic Publications

ALBUQUERQUE HIGH TECH WAGE SURVEY.

The New Mexico Employment Security Dept_July 1984, New Mexico Employment Security Department

Historic Publications

ALBUQUERQUE "HIGH TECH" WAGE SURVEY - JULY 1984.

The Revival Of The Rust Belt, Murray L. Weidenbaum, Michael J. Athey

Murray Weidenbaum Publications

The author questions whether there really is a decline in low-tech industries, and shows a comparison in their growth alongside that of high-tech industries.

Agricultural Credit: Turmoil And Possible Alternatives, Brian H. Schmiesing

Economics Commentator (1972- 2016)

No abstract provided.

What "Continental Illinois" Is Telling Us, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

No abstract provided.

Estimated Trade-Offs Between Unemployment And Inflation, Ray C. Fair

Cowles Foundation Discussion Papers

No abstract provided.

Job Discrimination, Market Forces And The Invisibility Hypothesis, Paul R. Milgrom, Sharon Oster

Cowles Foundation Discussion Papers

The Invisibility Hypothesis holds that the job skills of disadvantaged workers are not easily discovered by potential new employers, but that promotion enhances visibility and alleviates this problem. Then, at a competitive labor market equilibrium, firms profit by hiding talented disadvantaged workers in low level jobs. Consequently, those workers are paid less on average and promoted less often than others with the same education and ability. As a result of the inefficient and discriminatory wage and promotion policies, disadvantaged workers experience lower returns to investments in human capital than other workers.

Job Discrimination, Market Forces And The Invisibility Hypothesis, Paul R. Milgrom, Sharon Oster

Cowles Foundation Discussion Papers

The Invisibility Hypothesis holds that the job skills of disadvantaged workers are not easily observed by potential new employers, but that promotion enhances visibility and alleviates this problem. Then, at a competitive labor market equilibrium, disadvantaged workers will be paid less on average and promoted less often than other workers with the same education and ability, even if their employers are unprejudiced and know their workers’ abilities. As a result of the discriminatory wage and promotion policies, disadvantaged workers will experience lower returns to investments in human capital than other workers. An affirmative action program that eliminates discrimination and brings …

Price And Advertising Signals Of Product Quality, Paul R. Milgrom, John Roberts

Cowles Foundation Discussion Papers

We present a signalling model, based on ideas of Phillip Nelson, in which both the introductory price and the level of directly “uninformative” advertising or other dissipative marketing expenditures are choice variables and may be used as signals for the initially unobservable quality of a newly introduced experience good. Repeat purchases play a crucial role in our model.

Stability Comparisons Of Estimators, Donald W.K. Andrews

Cowles Foundation Discussion Papers

This paper investigates a property of estimators called stability. The stability exponent of an estimator is defined to be a measure of the effect of any single observation in the sample on the realized value of the estimator. High stability is often desirable for robustness against misspecification and against highly variable observations. Stability exponents are determined and compared for a wide variety of estimators and econometric models. They are found to depend on the maximal moment exponent (i.e., the number of finite moments) of the estimator’s influence curve. Since it is possible often to construct estimators with specified influence curves, …

Stability Comparisons Of Estimators, Donald W.K. Andrews

Cowles Foundation Discussion Papers

This paper investigates a property of estimators called stability. The stability exponent of an estimator is defined to be a measure of the effect of any single observation in the sample on the realized value of the estimator. High stability is often desirable for robustness against misspecification and against highly variable observations. Stability exponents are determined and compared for a wide variety of estimators and econometric models. They are found to depend on the maximal moment exponent (i.e., the number of finite moments) of the estimator’s influence curve. Since it is possible often to construct estimators with specified influence curves, …

Developments In The Banking Sector During The Second Quarter Of 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

The paper discusses the developments in the Nigeria banking sector during the second quarter of 1984. The downward movement in money supply (M1) observed during the first quarter of 1984 and the factors responsible mainly for the contraction of M1.

Statistical Section (June 1984), Central Bank Of Nigeria Cbn

Economic and Financial Review

Statistical tables on central banking, commercial banking, merchant banking, international liquidity, international trade, the flow of funds, money supply, national savings, production, consumer prices, public debt and public finance.

Foreign Exchange Flows Through The Central Bank During The Second Quarter Of 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

The paper discusses foreign exchange flows through the Central Bank of Nigeria during the second quarter of 1984.

Electricity Consumption In Nigeria: An Econometric Analysis, Sam Chuka Ljeh

Economic and Financial Review

The purpose of this study is to identify the variables that influence electricity consumption, specify the correct relationships between these variables and electricity consumption and provide statistical evidence of these relationships in Nigeria.

A Physical Interpretation Of The Maximum Likelihood Estimation Of A Linear Functional Relationship Model, Y. V. Hui, Yiu Kuen Tse

Research Collection School Of Economics

This paper presents a physical interpretation of estimating the parameters of a linear functional relationship model. The estimates are determined from the stable equilibrium position of a mechanical system. It is found that the estimates obtained from the physical model coincide with the maximum likelihood estimates.

Integration In West Africa: An Empirical Examination Of Ecowas, Stephen C. Adkisson

Dissertations and Theses

The Economic Community of West African States (ECOWAS) was established by treaty in 1975 to promote the economic and political well-being of its 16 regional members. As a coordinated effort of geographically associated states ECOWAS joins an expanding group of regional integration schemes created by developing countries.

As an international organization with some claim to supranational authority the success of the ECOWAS scheme is of practical and theoretical importance. Success in this sense implies an increasing level of interaction among the ECOWAS members and the development of a regional economic and political position toward non-member states. This coordination of member …