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Articles 3001 - 3030 of 3476

Full-Text Articles in Economics

The Long Run Consequences Of Monetary And Fiscal Policies When The Governments Budget Is Not Balanced, Gary Smith Sep 1977

The Long Run Consequences Of Monetary And Fiscal Policies When The Governments Budget Is Not Balanced, Gary Smith

Cowles Foundation Discussion Papers

No abstract provided.


Strategic Market Games: A Sketch Of An Approach To The Theory Of Money And Financial Institutions. Together With An Informal Guide To Some Papers, Martin Shubik Aug 1977

Strategic Market Games: A Sketch Of An Approach To The Theory Of Money And Financial Institutions. Together With An Informal Guide To Some Papers, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


An Analysis Of A Macroeconometric Model With Rational Expectations In The Bond And Stock Markets, Ray C. Fair Aug 1977

An Analysis Of A Macroeconometric Model With Rational Expectations In The Bond And Stock Markets, Ray C. Fair

Cowles Foundation Discussion Papers

No abstract provided.


Equilibrium And Disequilibrium Interpretations Of The Is-Lm Model, Gary Smith Aug 1977

Equilibrium And Disequilibrium Interpretations Of The Is-Lm Model, Gary Smith

Cowles Foundation Discussion Papers

There is a considerable tension in neoKeynesian macroeconomics as to whether the familiar IS-LM analysis should be interpreted as a description of equilibrium or disequilibrium. The present paper shows how the IS-LM model can be used for either purpose. The first section provides the preliminaries for the model of disequilibrium behavior that I will use. The second section lays out the sectoral notional and effective demands. The third section gives the equilibrium solution while the fourth and fifth sections give excess supply and excess demand solutions respectively.


How Dead Is Keynes?, James Tobin Jul 1977

How Dead Is Keynes?, James Tobin

Cowles Foundation Discussion Papers

No abstract provided.


Modeling Technological Change: Use Of Mathematical Programming Models In The Energy Sector, William D. Nordhaus, Ludo Van Der Heyden Jun 1977

Modeling Technological Change: Use Of Mathematical Programming Models In The Energy Sector, William D. Nordhaus, Ludo Van Der Heyden

Cowles Foundation Discussion Papers

No abstract provided.


Monetary Policies And The Economy — The Transmission Mechanism, James Tobin Jun 1977

Monetary Policies And The Economy — The Transmission Mechanism, James Tobin

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Money And Financial Institutions. Part 22. A Price-Quantity Buy-Sell Market With And Without Contingent Bids, Martin Shubik May 1977

A Theory Of Money And Financial Institutions. Part 22. A Price-Quantity Buy-Sell Market With And Without Contingent Bids, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


Policy Effects In A Model Of The Balance Of Payments, Ray C. Fair Apr 1977

Policy Effects In A Model Of The Balance Of Payments, Ray C. Fair

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Money And Financial Institutions. Part 36. The Money Rate Of Interest (A Multiperiod Nonatomic Trading And Production Economy With Outside Money, Inside Money And Optimal Bankruptcy Rules), Pradeep Dubey, Martin Shubik Apr 1977

A Theory Of Money And Financial Institutions. Part 36. The Money Rate Of Interest (A Multiperiod Nonatomic Trading And Production Economy With Outside Money, Inside Money And Optimal Bankruptcy Rules), Pradeep Dubey, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


A Model Of The Balance Of Payments, Ray C. Fair Apr 1977

A Model Of The Balance Of Payments, Ray C. Fair

Cowles Foundation Discussion Papers

No abstract provided.


An Observation On The Structure Of Production Sets With Indivisibilities, Herbert E. Scarf Apr 1977

An Observation On The Structure Of Production Sets With Indivisibilities, Herbert E. Scarf

Cowles Foundation Discussion Papers

No abstract provided.


A Shortrun Macroeconomic Model Of An Open Economy, Gary Smith Feb 1977

A Shortrun Macroeconomic Model Of An Open Economy, Gary Smith

Cowles Foundation Discussion Papers

No abstract provided.


An Extension Of The Brown-Robinson Equivalence Theorem, Donald J. Brown, M. Ali Khan Feb 1977

An Extension Of The Brown-Robinson Equivalence Theorem, Donald J. Brown, M. Ali Khan

Cowles Foundation Discussion Papers

No abstract provided.


Noncooperative Exchange With A Continuum Of Traders, Pradeep Dubey, Lloyd S. Shapley Feb 1977

Noncooperative Exchange With A Continuum Of Traders, Pradeep Dubey, Lloyd S. Shapley

Cowles Foundation Discussion Papers

No abstract provided.


What Is The Value Of Advanced Nuclear Power?, William D. Nordhaus Feb 1977

What Is The Value Of Advanced Nuclear Power?, William D. Nordhaus

Cowles Foundation Discussion Papers

No abstract provided.


Logrolling And Budget Allocation Games, Martin Shubik, Ludo Van Der Heyden Feb 1977

Logrolling And Budget Allocation Games, Martin Shubik, Ludo Van Der Heyden

Cowles Foundation Discussion Papers

In this paper we approach the concept of logrolling by examining a voting system where choices are made among sets of competing projects as a game in characteristic function form. We translate the question: “Will there be prices for votes on different projects which clear the market?” into a different, but equivalent question: “Is the formal game we have described a market game?” We show that in general the answer is no, unless all voters have virtually the same preferences.


The Sensitivity Of Fiscal-Policy Effects To Assumptions About The Behavior Of The Federal Reserve, Ray C. Fair Feb 1977

The Sensitivity Of Fiscal-Policy Effects To Assumptions About The Behavior Of The Federal Reserve, Ray C. Fair

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Money And Financial Institutions. Part 35. Bankruptcy And Optimality In A Closed Trading Mass Economy Modelled As A Noncooperative Game, Pradeep Dubey, Martin Shubik Feb 1977

A Theory Of Money And Financial Institutions. Part 35. Bankruptcy And Optimality In A Closed Trading Mass Economy Modelled As A Noncooperative Game, Pradeep Dubey, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


Strategies For The Control Of Carbon Dioxide, William D. Nordhaus Jan 1977

Strategies For The Control Of Carbon Dioxide, William D. Nordhaus

Cowles Foundation Discussion Papers

No abstract provided.


Can The Government Affect Real Output?: A Critique Of Models With Rational Expectations, Ray C. Fair Jan 1977

Can The Government Affect Real Output?: A Critique Of Models With Rational Expectations, Ray C. Fair

Cowles Foundation Discussion Papers

No abstract provided.


Wages, The Terms Of Trade, And The Exchange Rate Regime, Douglas D. Purvis Nov 1976

Wages, The Terms Of Trade, And The Exchange Rate Regime, Douglas D. Purvis

Cowles Foundation Discussion Papers

This paper analyzes a two-commodity short-run macroeconomic model under fixed and flexible exchange rates. Goods are disaggregated into imports and exports. Both are consumed domestically, but only the latter is produced at home. While imports are available in international markets at a fixed price, relative size matters in that the country’s specialized export good faces a less than infinitely elastic foreign demand. The seemingly natural disaggregation used here yields a model that is better suited than traditional models for the analysis of such problems as imported inflation and for flexible exchange rates. Also, the terms of trade is explicit and …


A Theory Of Money And Financial Institutions. Part 33. On The Value Of Market Information, Martin Shubik Nov 1976

A Theory Of Money And Financial Institutions. Part 33. On The Value Of Market Information, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


Probabilistic Generalizations Of The Shapley Value, Pradeep Dubey Nov 1976

Probabilistic Generalizations Of The Shapley Value, Pradeep Dubey

Cowles Foundation Discussion Papers

No abstract provided.


Theory Of Money And Financial Institutions. Part 34. A Multiperiod Trading Economy With Fiat Money, Bank Money And An Optimal Bankruptcy Rule, Martin Shubik Nov 1976

Theory Of Money And Financial Institutions. Part 34. A Multiperiod Trading Economy With Fiat Money, Bank Money And An Optimal Bankruptcy Rule, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.


A Theory Of Extramarital Affairs, Ray C. Fair Oct 1976

A Theory Of Extramarital Affairs, Ray C. Fair

Cowles Foundation Discussion Papers

No abstract provided.


Price Information And The Economics Of Consumerism: A Model Of Stochastic Equilibrium, John Sutton Oct 1976

Price Information And The Economics Of Consumerism: A Model Of Stochastic Equilibrium, John Sutton

Cowles Foundation Discussion Papers

A model of a quasi-competitive industry is constructed, in which the firm’s sales are described by a random variable whose expected rate of change depends on price. It is shown that a stationary (non-degenerate) distribution of prices results, so that price differences persist over time. It is further shown that, as consumers become more aware of, and responsive to, price differences between firms, the average price set by the (profit maximizing) firms tends to decrease, implying a reduction in the degree of monopoly in the industry.


Economic Growth And Climate: The Carbon Dioxide Problem, William D. Nordhaus Oct 1976

Economic Growth And Climate: The Carbon Dioxide Problem, William D. Nordhaus

Cowles Foundation Discussion Papers

No abstract provided.


A Note On The Computation Of The Tobit Estimator, Ray C. Fair Oct 1976

A Note On The Computation Of The Tobit Estimator, Ray C. Fair

Cowles Foundation Discussion Papers

No abstract provided.


The Small-Disturbance-Asymptotic Moments Of The Instrumental Variables And Ordinary Least Squares Estimators For A Dynamic Equation With Correlated Errors, Jon K. Peck Jul 1976

The Small-Disturbance-Asymptotic Moments Of The Instrumental Variables And Ordinary Least Squares Estimators For A Dynamic Equation With Correlated Errors, Jon K. Peck

Cowles Foundation Discussion Papers

No abstract provided.