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Articles 1 - 30 of 212
Full-Text Articles in Social and Behavioral Sciences
Central Bank Of Nigeria Annual Report And Statement Of Account For The Year Ended 31st December, 1982, Central Bank Of Nigeria
Central Bank Of Nigeria Annual Report And Statement Of Account For The Year Ended 31st December, 1982, Central Bank Of Nigeria
CBN Annual Report
The economic slowdown in 1981-1982 led to a decline in mineral and export crop production, with crude oil production falling from 1.440 million barrels in 1981 to 1.29 million barrels in 1982. The Central Bank of Nigeria business survey showed increased manufacturing sales and inventories of finished goods. Inflation decelerated to its lowest level since 1973, mainly due to reduced monetary expansion and increased production of staple food, livestock products, and fish. The money supply rose by 5.6% in 1980 and 3.1% in 1982, but the government sector's share in bank credit increased. The Gross National Product of all industrialized …
Delinquent Behavior Of South Dakota Youth, Galen Kelsey
Delinquent Behavior Of South Dakota Youth, Galen Kelsey
Economics Commentator
No abstract provided.
Update On Costs Of Prducing Fuel Alcohol From Small-Scale Plants, Thomas L. Dobbs
Update On Costs Of Prducing Fuel Alcohol From Small-Scale Plants, Thomas L. Dobbs
Economics Commentator
No abstract provided.
Marginal Versus Average Cost Pricing In The Presence Of A Public Monopoly, Donald J. Brown, Geoffrey M. Heal
Marginal Versus Average Cost Pricing In The Presence Of A Public Monopoly, Donald J. Brown, Geoffrey M. Heal
Cowles Foundation Discussion Papers
No abstract provided.
The Exact Distribution Of Liml: I, Peter C.B. Phillips
The Exact Distribution Of Liml: I, Peter C.B. Phillips
Cowles Foundation Discussion Papers
It is shown that the exact finite sample distribution of the limited information maximum likelihood (LIML) estimator in a general and leading single equation case is multivariate Cauchy. When the LIML estimator utilizes a known error covariance matrix (LIMLK) it is proved that the same Cauchy distribution still applies. The corresponding result for the instrumental variable (IV) estimator is a form of multivariate t density where the degrees of freedom depend on the number of instruments.
Near-Markets And Market Games, Martin Shubik, Myrna Holtz Wooders
Near-Markets And Market Games, Martin Shubik, Myrna Holtz Wooders
Cowles Foundation Discussion Papers
No abstract provided.
Optimal Labor Contracts And The Role Of Monetary Policy In An Overlapping Generations Model, Russell Cooper
Optimal Labor Contracts And The Role Of Monetary Policy In An Overlapping Generations Model, Russell Cooper
Cowles Foundation Discussion Papers
This paper extends the optimal labor contracts literature to consider an environment with both real and nominal shocks. In an overlapping generations model, we compare alternative means of trading labor services: spot markets, fixed nominal wage contracts and price-contingent contracts. The ordering of these market structures will depend on the relative variability of the real and nominal shocks and the costs of contingent contracts. We also investigate the role of monetary policy and the circumstances under which feedback rules are neutral. Finally, we show that a non-stochastic monetary policy is optimal.
Global Stability In A Class Of Markets With Three Commodities And Three Consumers, Masayoshi Hirota
Global Stability In A Class Of Markets With Three Commodities And Three Consumers, Masayoshi Hirota
Cowles Foundation Discussion Papers
No abstract provided.
Review Of "Information And Coordination" By Axel Leijonhufvud, Hyman P. Minsky Ph.D.
Review Of "Information And Coordination" By Axel Leijonhufvud, Hyman P. Minsky Ph.D.
Hyman P. Minsky Archive
Book review. Axel Leijonhufvud. Information and Coordination. Oxford, England: Oxford University Press, 1981, pp. 976-977, in The Economic Journal, Dec. 1982.
Also included are:
The letter sent by Minsky to Donald Winch with the review, and a copy of the review in manuscript with Minsky's corrections.
Robotics: Human Resource Implications For Michigan: A Research Summary, H. Allan Hunt, Timothy L. Hunt
Robotics: Human Resource Implications For Michigan: A Research Summary, H. Allan Hunt, Timothy L. Hunt
Reports
No abstract provided.
Designing The Cityscape, Chester Smolski
Designing The Cityscape, Chester Smolski
Smolski Texts
"A new structure has recently been erected in the Providence downtown, and criticisms of the building's design continue to fly. An editorial in these newspapers, for example, referred to the 'failed example of quickie construction with a outsized Erector set.'"
Interest Rates Impact On Farm Income, Richard C. Shane
Interest Rates Impact On Farm Income, Richard C. Shane
Economics Commentator
No abstract provided.
Revelation Of Information In Strategic Market Games: A Critique Of Rational Expectations, Pradeep Dubey, John Geanakoplos, Martin Shubik
Revelation Of Information In Strategic Market Games: A Critique Of Rational Expectations, Pradeep Dubey, John Geanakoplos, Martin Shubik
Cowles Foundation Discussion Papers
No abstract provided.
Scarf's Procedure For Integer Programming And A Dual Simplex Algorithm, Philip M. White, Andrew S. Caplin, Ludo Van Der Heyden
Scarf's Procedure For Integer Programming And A Dual Simplex Algorithm, Philip M. White, Andrew S. Caplin, Ludo Van Der Heyden
Cowles Foundation Discussion Papers
Herbert Scarf has recently introduced an algorithm for integer programs based on the concept of primitive sets. We show that as the choice variables become continuous, this algorithm converges to a dual simplex algorithm. This result is robust in the sense that even before the limit is reached, the simplex path is contained in the primitive sets which define Scarf’s path to the solution of the integer program.
Investment Versus Savings Incentives: The Size Of The Bang For The Buck And The Potential For Self-Financing Business Tax Cuts, Alan J. Auerbach, Laurence Kotlikoff
Investment Versus Savings Incentives: The Size Of The Bang For The Buck And The Potential For Self-Financing Business Tax Cuts, Alan J. Auerbach, Laurence Kotlikoff
Cowles Foundation Discussion Papers
No abstract provided.
Revelation Of Information In Strategic Market Games: A Critique Of Rational Expectations, Pradeep Dubey, John Geanakoplos, Martin Shubik
Revelation Of Information In Strategic Market Games: A Critique Of Rational Expectations, Pradeep Dubey, John Geanakoplos, Martin Shubik
Cowles Foundation Discussion Papers
We criticize the R.E.E. approach to asymmetric information general equilibrium because it does not explain how information gets “into” the prices. This leads to well-known paradoxes. We suggest a multiperiod game instead, where the flow of information into and out of prices is explicitly modeled. In our game Nash equilibria (N.E.) (1) generalize Walrasian equilibria to asymmetric information; (2) exist generically; (3) eliminate pure speculation; (4) allow prices to reveal information and markets to become more efficient over time; (5) are consistent with the weak efficient markets hypothesis that tracking past prices is not profitable; (6) yet always lead to …
Stable Disequilibrium Prices: Macroeconomics And Increasing Returns I, Geoffrey M. Heal
Stable Disequilibrium Prices: Macroeconomics And Increasing Returns I, Geoffrey M. Heal
Cowles Foundation Discussion Papers
The paper establishes conditions for the existence of a set of prices which are stable and at which markets do not clear, providing a rigorous foundation for the existence of fixed-price equilibria via the macroeconomics of increasing returns. It analyzes a Walrasian price adjustment process for a general equilibrium economy with economies of scale in production.
A Geometric Explanation Of The Transfer Paradox In A Stable Economy, John Geanakoplos, Geoffrey M. Heal
A Geometric Explanation Of The Transfer Paradox In A Stable Economy, John Geanakoplos, Geoffrey M. Heal
Cowles Foundation Discussion Papers
No abstract provided.
Robust And Asymptotically Efficient Estimation Of Location In A Stationary Strong Mixing Gaussian Parametric Model, Donald W.K. Andrews
Robust And Asymptotically Efficient Estimation Of Location In A Stationary Strong Mixing Gaussian Parametric Model, Donald W.K. Andrews
Cowles Foundation Discussion Papers
This paper considers the problem of robust estimation of location in a model with stationary strong mixing Gaussian parametric distributions. An estimator is found that is within epsilon of being asymptotically efficient at the Gaussian parametric distribution and is within epsilon of being optimally robust! For the robustness results a Huber-type minimax criterion is used, where minimaxing takes place over neighborhoods of the parametric Gaussian distributions. The neighborhood system considered includes distributions of strong mixing processes and allows for deviations from the normal univariate parametric distributions within a Hellinger metric neighborhood, as well as deviations from stationarity and from the …
Keynes, Kanz, John Maynard (1883-1946), Hyman P. Minsky Ph.D.
Keynes, Kanz, John Maynard (1883-1946), Hyman P. Minsky Ph.D.
Hyman P. Minsky Archive
Biography of John Maynard Keynes for the Encyclopedia Americana, approved by Minsky for publication, 18 October 1982.
Energy And Crop Production Economics, Donald C. Taylor
Energy And Crop Production Economics, Donald C. Taylor
Economics Commentator
No abstract provided.
The Potential For Financial Crises, Hyman P. Minsky Ph.D.
The Potential For Financial Crises, Hyman P. Minsky Ph.D.
Hyman P. Minsky Archive
Remarks prepared for a Conference on “The Future of the International Monetary System” Oct. 7-8, 1982.
1982-83 Crop Price Outlook, Art Sogn
Who Ought To Pay The South Dakota Tax Bill?, Mark A. Edelman
Who Ought To Pay The South Dakota Tax Bill?, Mark A. Edelman
Economics Commentator
No abstract provided.
On Allocative Distortions In Problems Of Self-Selection, Russell Cooper
On Allocative Distortions In Problems Of Self-Selection, Russell Cooper
Cowles Foundation Discussion Papers
This paper considers the general structure of self-selection models. By imposing conditions which permit the ordering of agents by their preferences, we provide a characterization of the distortions inherent in the sorting process. We also discuss extensions of the basic model such as randomization. Time Series Behavior of Prices for Overlapping Futures Contracts, with an Application to Soybean Futures
The Structure Of Social Risk, William D. Nordhaus, Steven N. Durlauf
The Structure Of Social Risk, William D. Nordhaus, Steven N. Durlauf
Cowles Foundation Discussion Papers
It is increasingly recognized that the structure of financial risks interacts with economic or fundamental risks in a way that influence real economic outcomes. Recent work documents, on the one hand, the apparent excessive sensitivity of financial markets to economic shocks (see especially Shiller (1979)); and on the other hand the close dependence of investment and economic variables on financial variables. One of the central developments to analyze such interactions has been portfolio theory, particularly the capital asset pricing model (CAPM). This field has been extremely fertile, and has seen an outpouring of both theoretical and empirical work. Unfortunately, virtually …
On The Control Of The American Economy, Hyman P. Minsky Ph.D.
On The Control Of The American Economy, Hyman P. Minsky Ph.D.
Hyman P. Minsky Archive
Paper prepared for the “Conference on Theories of Accumulation and the Control of the Economy,” Villa Manin di Passariano, Udine, Italy
The Abc's Of Proposed Constitutional Changes, Galen Kelsey
The Abc's Of Proposed Constitutional Changes, Galen Kelsey
Economics Commentator
No abstract provided.
Energy-Efficient Clothing, Interior Architecture And Furnishing Designs: Consumer Attitudes, Acceptability Levels And Preferences, Barbara Parks
Energy-Efficient Clothing, Interior Architecture And Furnishing Designs: Consumer Attitudes, Acceptability Levels And Preferences, Barbara Parks
Home Economics and Family Living Theses
Energy-efficient designs in clothing, interior architecture and furnishings were evaluated (a) to assess consumers’ attitudes toward the designs, (b) to compare acceptability levels of participants who were knowledgeable in the home energy field with those who were less knowledgeable and (c) to determine if consumers had a preference for using housing, clothing or furnishings in meeting their thermal comfort needs. Four designs generated by the University of Tennessee-Energy Design competition were evaluated: a leisure outfit, a lounging dress, a water-storage collector (room divider and coffee tables) and a solar waterbed. Rogers and Shoemaker’s perceived attributes of innovations model (relative advantage, …
Utility Functions For Debreu's ‘Excess Demands', John Geanakoplos
Utility Functions For Debreu's ‘Excess Demands', John Geanakoplos
Cowles Foundation Discussion Papers
No abstract provided.