Economics Commons^™

Monetarist Papers, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Brumm, H. J. (2005). Money growth, output growth, and inflation: A reexamination of the modern quantity theory's linchpin prediction. Southern Economic Journal, 71(3), 661–667.
• Moroney, J. R. (2002). Money growth, output growth, and inflation: Estimation of a modern quantity theory. Southern Economic Journal, 69(2), 398–413.
• Smith, B. D. (1988, Summer). The relationship between money and prices: Some historical evidence reconsidered. Quarterly Review (Federal Reserve Bank of Minneapolis), 12(3), 18–32. Federal Reserve Bank of Minneapolis.

The Great Wars, The Great Crash And Steady State Growth & Misc Documents, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Garegnani, P. (n.d.). Reply. Unpublished manuscript.

• Shaikh, A., PhD. (2003, June 30). Response to comments on Godley-Shaikh 2002 [Document addressed to Esteban]. Unpublished manuscript.

• Pérez, E. (n.d.). The standard neo-classical macroeconomic model [Draft comments]. Unpublished manuscript.

• Ben-David, D., & Papell, D. H. (1995, December). The great wars, the great crash, and steady state growth: Some new evidence about an old stylized fact. Unpublished manuscript.

• Moudud, J. K. (2005, November 29). The role of the state and long-run growth: Beyond neoliberalism and the superstate—some provocative thoughts on new policy options for developing countries [NASDAQ lecture]. Unpublished …

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Disequilibrium Dynamics, Stock-Flow Consistency, And Economic Policy, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Moudud, J. K. (2005, November 4). Disequilibrium dynamics, stock-flow consistency, and economic policy [Book proposal].

Simplest Sfc, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (1994, December 5). Godley: Private expenditure function [Handwritten notes].

• Shaikh, A. (2005, January 15). Notes on the simplest possible stock-flow accounts: Comments on Claudio’s simplification model [Typed manuscript].

• Shaikh, A. (n.d.). Short-run model closures and steady state growth (Chap. 2) [Scanned pages with handwritten annotations].

• Shaikh, A. (2005, January 17). Simplest stock-flow accounts [Typed manuscript with handwritten annotations].

• Shaikh, A. (2005, January 16). Two types of stock-flow consistencies [Handwritten notes].

Long Term Historical Pattern, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A., PhD. (n.d.). Long-term historical patterns in U.S. and U.K. economic indicators [Various figures and graphs on U.S. real GNP per capita, U.S. industrial production index, business cycles, U.S. manufacturing productivity and real employee compensation, U.S. manufacturing real unit labor cost index, U.S. unemployment rate, U.K. and U.S. wholesale price and gold price indexes, U.S. general net rate of profit, and GDP per capita]. Unpublished manuscript.

• Shaikh, A., PhD. (2001, September 5). Lecture I: Introd to economic theories of capitalism (why study the classicals?) [Lecture notes for Eco 104: Historical]. Unpublished manuscript.

• Dolenc, P. (n.d.). Intermediate …

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Capacity Utiliz + Hick Adj, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2005, April 14). Capacity utiliz and Hick adj [Handwritten notes]. Unpublished manuscript.

• Shaikh, A. (2002, September). Aanotes (File: cointusgdpkstock1jamee.wf1) [Typed notes]. Unpublished manuscript.

Inflation, Theory, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Taft, T. Y. & Navot, E. (2005). Inflation in the United States: 1945-2004: Testing the Phillips curve and the throughput theory, and the political economy of inflation [Unpublished manuscript]. Graduate Faculty of Political and Social Science, New School University.
• Shaikh, A. (2005, November). Throughput and savings rates [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Stancity, C. & Parra, M. A. (2005, November 18). Inflation in Japan [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Palladino, L. & Mahoney, M. (2005, November 18). Inflation in Italy [Unpublished manuscript]. Department of Economics, New School …

Inflation, Phillips Curve, Asial, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2005, April 27). Inflation theory [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Shaikh, A. (2003). Phillips curve: US, 1960-2003 [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Shaikh, A. (2003). Inflation vs. change in unemployment rate [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Shaikh, A. (2003). Phillips-curve type inflation vs. thruput [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Shaikh, A. (2005, April 23). US thru put 1A.wf1 [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Shaikh, A. (2005). Macroeconomic identities and monetary …

Empirical Investment Functions, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (1990, August). Empirical investment functions [Handwritten notes]. Unpublished manuscript.

• Shaikh, A. (2005, June 12). ECM regression output for LNYJPN, 1969–2000 [Regression output]. Unpublished manuscript.

• Shaikh, A. (2005, June 12). ADL regression output for LNYJPN, 1969–2000 [Regression output]. Unpublished manuscript.

• Shaikh, A. (1990, August 15). Empirical fixed investment functions [Handwritten notes discussing expectation models and empirical results for U.S. manufacturing]. Unpublished manuscript.

• Shaikh, A. (1990, August 10). gk vs. u for manufacturing, 1926–1985 [Graph]. Unpublished manuscript.

• Shaikh, A. (1990, August 11). gk (scaled) vs. Ut for manufacturing [Graph]. Unpublished manuscript.

• Shaikh, A. (1990, August 7). Empirical …

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Post-Election Economics & Other Notes, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A., PhD. (2004, December 3). Post-election economics. Unpublished manuscript.

• Shaikh, A., PhD. (n.d.). Borrowing behavior and debt service [Handwritten draft notes]. Unpublished manuscript.

• Becker, E. (2004, October 14). Nordic countries come out near the top in two business surveys. The New York Times. Publisher details not identified.

• Shaikh, A., PhD. (2004, November 10). Post-election economics [Annotated draft]. Unpublished manuscript.

• Shaikh, A., PhD. (2004, November 3). Eco implications of election [Handwritten notes]. Unpublished manuscript.

• Shaikh, A., PhD. (2004, November 3). Comments & discussion [Handwritten notes]. Unpublished manuscript.

• Shaikh, A., PhD. (n.d.). Macroeconomic notes on sectors and equations …

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Folder On Inflation - 2, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Notes on John Fullarton's On the Regulation of the Currencies of the Bank of England [Handwritten reading notes on currency regulation, forced currency, the Bank Act, international exchange, and bank notes]. (n.d.).
• Rudd, J., & Whelan, K. (2005, September 9). Modelling inflation dynamics: A critical survey of recent research [Annotated conference paper surveying rational-expectations, New Keynesian, hybrid, and other inflation models].
• Shaikh, A. (2003, November 24). Growth and money supply [Typed technical note on gold-sector money creation, government money printing, deficits, debt, and central-bank financing].
• Harberger, A. C. (1988). World inflation revisited [Annotated book-chapter excerpt analyzing chronic …

Folder On Inflation - 3 (Money And Gold), Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Notes to Ernest on "Marx's Theory of Value and the Transformation Problem" [Twelve-page handwritten response discussing gold as money, profit-rate equalization, prices, and the transformation problem]. (1981, June).
• Shaikh, A. (1996, February 23). Regulation of Price Level by Gold Sector [Two-page unpublished memorandum explaining how gold-sector profitability and marginal mining validate, rather than regulate, the general price level].
• Shaikh, A. Comments to Alfredo on the role of gold [Typed note distinguishing commodity money's role in international circulation from claims that gold directly determines the price level]. (n.d.).
• Cumulative expenditure gap of inflation [Handwritten one-page derivation of investment …

Folder On Inflation - 1, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Figure 1: Inflation rate vs. beta [Statistical chart comparing inflation with changes in bank credit to the public sector as a share of GDP]. (n.d.).
• U.S. and Argentina: Credit growth and real-output growth [Chart packet comparing credit growth with real-output growth in the United States and Argentina]. (n.d.).
• Shaikh, A. (2006, March 16). ECMs with non-stationary variables [Four-page annotated technical note on long-run relations, stationarity, and error-correction models].
• Draft class: IFS data and ARDL/ECM strategy [Five-page handwritten notes on IFS variables, structural breaks, long-run estimation, and model selection]. (2006, October 2).
• IFS data definitions and model specification …

Education, Technological Progress And Economic Growth, Winston T. H. Koh, Hing-Man Leung

Research Collection School Of Economics

An important role of education – and the resultant accumulation of human capital – for a less-developed economy is to facilitate technology diffusion in order for it to catch up with developed economies. This paper presents a model linking education, the accumulation of physical capital and technological progress. In the model, investment in education and the accumulation of physical capital are complementary, and intertwine with the technology progress through related effects on technology diffusion and the expansion of the technology frontier. The allocation of effort to education, the optimal savings rate and the technology gap are endogenously determined in the …

The Structuralist Perspective On Real Exchange Rate, Share Price Level And Employment Path: What Role Is Left For Money?, Edmund S. Phelps, Hian Teck Hoon, Gylfi Zoega

Research Collection School Of Economics

No abstract provided.

Constructing A Coincident Index Of Business Cycles Without Assuming A One-Factor Model, Roberto S. Mariano, Yasutomo Murasawa

Research Collection School Of Economics

The Stock-Watson coincident index and its subsequent extensions assume a static linear one-factor structure for the component indicators. Such assumption is restrictive in practice, however, with as few as four indicators. In fact, such assumption is unnecessary if one defines a coincident index as an estimate of latent monthly real GDP. This paper considers VAR and factor models for latent monthly real GDP and other coincident indicators, and estimates the models using the observable mixed-frequency series. For US data, Schwartz’s Bayesian information criterion selects a two-factor model. The smoothed estimate of latent monthly real GDP is the proposed index.

A Var Analysis Of Singapore's Monetary Transmission Mechanism, Hwee Kwan Chow

Research Collection School Of Economics

The Singapore economy has experienced greater business cycle fluctuations in recent years, being subject to recurrent shocks from the external environment. Given the extreme openness of the economy—Singapore’s export share of GDP is approximately 180%—it is not surprising that the main cause of the increase in economic volatility is a rise in the frequency and magnitude of exogenous shocks. These include the downswing in the global electronics industry in 1996–97, the Asian financial crisis in 1997–98, the burst of the information technology bubble in 2001, and the outbreak of the SARS respiratory disease in 2003. Such a close sequence of …

Keynote Address, Sanusi O. Joseph

Bullion

This is a keynote address delivered at the 5^th Annual Finance Correspondents and Business Editors Seminar held in Owerri, lmo State from 26^th – 28^th January, 2004. It is the fifth in the series of the seminar initiated by the Central Bank of Nigeria (CBN), to enhance the understanding and analytical ability of Finance Correspondents and Business Editors on topical economic issues, particularly monetary and financial sector development. It presents an opportunity for them to appreciate and analyse the Bank's policies and operations better, as well as, facilitate improvement in reporting on those issues. It will help …

An Overview Of The Nigerian Financial System, Aderibigbe J. O.

Bullion

Financial systems, the world over, play fundamental roles in the development and growth of the economy. The effectiveness and efficiency in performing these roles, particularly the intermediation between the surplus and deficit units of the economy, depend largely on the level of development of the financial system. It is to ensure its soundness that the financial sector appears to be the most regulated and controlled by the government and its agencies. This paper discusses issues and strategies for enhancing the soundness and stability of the nation's financial system, the roles of the financial system in the promotion of economic growth …

The Role Of The Central Bank In The Nigeria Financial System, Onyido C. Ben

Bullion

The central bank is pivotal in the management of the national economy. lts role is not only to regulate and monitor the financial system, but also to ensure its development, prevent financial distress which could undermine confidence in the system as well as facilitate sustained growth. This paper presents an overview of the Nigerian financial system, the functions of the Central Bank of Nigeria (CBN). It examines the Bank's monetary management, surveillance and promotional roles and the challenges for the CBN. The study concludes that, the enhanced operational autonomy of the CBN has provided a unique opportunity for the Bank …

The Impact Of The Operations Of The Non-Bank Financial Institutions On Financial Sector Stability, Bamisile A. Sesan

Bullion

The Banks and Other Financial institutions Act (BOFIA) defines an NBFI to mean "any individual, body, association or group of persons; whether corporate or unincorporated, other than the banks licenced under the Act which carries on the business of a discount house, finance company and money brokerage and whose principal object include factoring, project financing, equipment leasing, debt administration, fund management, private ledger services, investment management, local purchase order financing, export finance, project consultancy financial consultancy, pension fund management and such other business as the Bank may, from time to time, designate". This paper affords the opportunity to explain and …

Causes Of Bank Distress And Resolution Options, Donli J. G

Bullion

A meaningful analysis of causes of bank distress and the options for resolution would probably need to be preceded by a brief discussion of the role of banks in an economy. This paper examines the meaning of bank distress, it presents a detailed discussion of the main causes of bank distress as they relate to Nigeria in particular, it provides a review of the literature on resolution options as well as an enumeration of resolution options adopted to address bank distress in Nigeria. lt's has been observed in the paper that while the general causes of bank distress appear to …

The New Capital Accord: Challenges For The Central Bank Of Nigeria And Nigerian Banks., Imala O. Ignatius

Bullion

Capital occupies a vital position in the life of a bank, like any other business. It plays the role of a cushion for losses resulting from crystallisation of the various risks a business entity is exposed to. This paper summarises the 1988 Accord and its inadequacies. It introduces the new Accord, the need for it and its structure. It highlights the challenges to both operators and regulators, and It discusses efforts of the supervisory authorities to implement the Accord in Nigeria. The challenges highlighted in this paper are by no means exhaustive but it is believed that the attempt would …

The Role Of Deposit Insurance In Financial Sector Stability, Umoh N. Peter

Bullion

It might be necessary to start explaining the terms involved in the above topic. A Deposit insurance Scheme (DlS) is an arrangement whereby a designated agency (usually government-owned) guarantees deposits in insured financial institutions This paper discusses the guarantee function and financial sector stability, the supervisory function and financial sector stability, the liquidation function and financial sector stability and the other contributions of Nigeria Deposit Insurance Corporation (NDIC). The study concluded that, "Financial Sector Stability: lssues and Challenges" is not only appropriate but quite timely given the rumours making the rounds about unfounded banking distress.

The Experience Of Banking Supervision In Financial Sector Surveillance., Imala O. I.

Bullion

A country's financial sector is the major channel through which funds are mobilized for borrowing and lending transactions. A poorly regulated or managed financial sector or one with insufficient capital for the risks it takes, can increase a country's vulnerability to financial crises. This paper highlights the importance of financial sector regulation and supervision, techniques of supervision, symptoms and causes of distress, measures put in place by the regulatory/supervisory authorities to guard against future systematic distress and the role of multilateral agencies. However, the study concluded that there is no doubt that good corporate governance is a major factor in …

Macroeconomics/Structural Policies And Financial Sector Stability: The Challenges, Nnanna O. J

Bullion

The financial system plays an important role in the process of economic growth and development of a country. A financial system consists of various institutions, markets, instruments and operators that interact within an economy to provide financial services. It plays the crucial roles of lubricating the payment mechanism, resource mobilisation and credit allocation. The Nigerian financial sector comprises the regulatory/supervisory authorities, deposit money banks, and other nonbank financial institutions. The objective of this paper is to examine the effect of macroeconomic/ structural policies on the financial sector, as well as the challenges of maintaining financial sector stability in Nigeria. The …

Institutional Framework For The Regulation And Supervision Of The Financial Sector, Mordi N. Charles

Bullion

Since the 1980s, there has been international consensus on the issue of adequate regulation and supervision of the financial sector (and, in particular, banking institutions) and this issue have featured prominently in many international fora where discussions have centred on the operations/health of the financial sector, whether in developed or developing countries. This paper focusses attention on the institutional framework for the regulation and supervision of the financial sector in Nigeria. It attempts to identify the various institutions that make up the financial sector and articulates how they are regulated and supervised and who has responsibility for what, so as …

Internationalisation Of Financial Services: Challenges For Financial Sector Stability In Nigeria., Adeola Ade

Bullion

Internationalisation or Globalisation refers to the increasing integration of "economics around the world, particularly through trade and financial flows. lt is the actual movement, the capacity to move and the potential movement across nations of trade, , investment, technology, finance and labour. lt's also involves the effects of these I forces and the consequent liberalization I of the market. This paper focuses on internationalisation as it relates to the financial sector in Nigeria and its most common manifestation, which is liberalization. It aims to identify ways in which we can benefit from this process while remaining realistic about its potential …

Review Of Northern Naval Superiority And The Economics Of The American Civil War By David G. Surdam, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Growth Theory Reading, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A., PhD. (1998, September 24). Module on the foundations of growth theory [Syllabus]. Unpublished manuscript.

• Shaikh, A., PhD. (1994, March 7). Net interest in dynamic macromodels [Handwritten notes]. Unpublished manuscript.

• Shaikh, A., PhD. (n.d.). Lutz theories of int. [Handwritten notes]. Unpublished manuscript.

• Shaikh, A., PhD. (1987, June 4). Stock mkt & the firm [Handwritten notes]. Unpublished manuscript.

• Kregel, J. A. (1980). Economic dynamics and the theory of steady growth: An historical essay on Harrod’s “knife-edge”. History of Political Economy, 12(1). Publisher details not identified.

• Shaikh, A., PhD. (2004, July 1). Classical accumulation function [Typed …

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