Social and Behavioral Sciences Commons^™

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

Economics Faculty Research and Publications

No abstract provided.

Interest Rate Variability And Manufacturing Industry Cash Flow: An Empirical Analysis, Suzette M. Lebrasseur-Serwin, Abdur Chowdhury

Economics Faculty Research and Publications

To examine the impact of floating rate loans and interest rate volatility on aggregate cash flow, quarterly data covering the period 1974 to 1990 for 14 two-digit Standard Industrial Classification manufacturing industries were analyzed. The results indicate that changes in the short-term interest rate and-or interest rate volatility have a significantly negative impact on the cash flow of a total of 11 of the 14 firms considered. Although the inverse relationship between corporate cash flow and interest rate is worth mentioning, the heterogeneity of this relationship across industries, however, is more interesting. The magnitude of the decline in cash flow …

The Substitutability Of Equities And Consumer Durable Goods: A Portfolio-Choice Approach, Dale J. Knapp, Farrokh Nourzad

Economics Faculty Research and Publications

Using the analytical approach made famous by Chetty [4] and quarterly data covering the period from 1963.4 through 1991.3, we estimate elasticities of substitution between common stocks and residential housing and between stocks and government bonds, Treasury bills, money, the sum of savings and time deposits, and corporate paper. We also test whether these elasticities changed following the 1987 stock market crash.

We find that there is virtually no substitutability between stocks and other financial assets. Moreover, we find no evidence that asset holders are willing to substitute between stocks and housing. This last finding contradicts Runkle's suggestion that as …

The Locus Of Keynes's Philosophical Thinking In The General Theory: The Concept Of Convention, John B. Davis

Economics Faculty Research and Publications

No abstract provided.

Pluralism In Social Economics, John B. Davis

Economics Faculty Research and Publications

No abstract provided.

Reconstruction Of Mainstream Economics And The Market Economy, John B. Davis, Edward J. O'Boyle

Economics Faculty Research and Publications

No abstract provided.

An Empirical Analysis Of Factors That Distinguish Those Who Evade On Their Tax Return From Those Who Choose Not To File A Return, Steven E. Crane, Farrokh Nourzad

Economics Faculty Research and Publications

This paper presents an empirical model distinguishing evaders who cheat by filing fraudulent income tax returns from those who do not file. Using a maximum-likelihood procedure that corrects for sample selection bias, and data from Michigan's amnesty program, we estimate a linear probability model which relates the probability of filing to various economic and demographic characteristics. The results indicate that higher true income and automatic withholding raise the probability of filing, while males and single individuals are less likely to file. The evidence regarding a grouping of occupations often thought to be association with evasion is inconclusive.