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1997

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Articles 61 - 90 of 396

Full-Text Articles in Economics

Second Lecture Seminar On Marx, Keynes And Kalecki Neoclassical And Keynesian Theories Of Unemployment, Anwar Shaikh Phd Sep 1997

Second Lecture Seminar On Marx, Keynes And Kalecki Neoclassical And Keynesian Theories Of Unemployment, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes the second lecture, seminar on Marx, Keynes, and Kalecki (September 11, 1997): neoclassical and Keynesian theories of unemployment


First Lecture Seminar On Marx, Keynes & Kalecki -- Overview Of Unemployment And Wages In The Economic Theory, Anwar Shaikh Phd Sep 1997

First Lecture Seminar On Marx, Keynes & Kalecki -- Overview Of Unemployment And Wages In The Economic Theory, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes the first lecture, seminar on Marx, Keynes, and Kalecki: overview of unemployment and wages in economic theory


Vol. 1, No. 1: Benevolent But Troubled Amnesty, Vincent Williams, Jonathan Crush Sep 1997

Vol. 1, No. 1: Benevolent But Troubled Amnesty, Vincent Williams, Jonathan Crush

Southern African Migration Programme

No abstract provided.


China: A New Force In The Global Marketplace, Murray L. Weidenbaum Sep 1997

China: A New Force In The Global Marketplace, Murray L. Weidenbaum

Murray Weidenbaum Publications

Even with problems such as energy shortages, environmental degradation, infrastructure, corruption, and crime, the Chinese economy is a force to be reckoned with. If current trends continue, China could end up being number 2, after the United States, in terms of economic output.


Economic Analysis For An F-22 Organic Vs. Contractor Aircraft Battle Damage Repair Ownership Decision, John A. Kitchens Sep 1997

Economic Analysis For An F-22 Organic Vs. Contractor Aircraft Battle Damage Repair Ownership Decision, John A. Kitchens

Theses and Dissertations

The purpose of this study was to evaluate whether Contractor Logistics Support (CLS) is a viable alternative to Combat Logistics Support Squadrons (CLSSs) for providing F-22 Aircraft Battle Damage Repair (ABDR). Legalities, practicalities, and cost-effectiveness were key ownership concerns. United States Code, Office of Management and Budget, Department of Defense (DoD), and United States Air Force (USAF) requirements were reviewed to address legal and policy issues and whether F-22 ABDR is military essential. The Army's Logistics Civil Augmentation Program (LOCCAP) award fee history was used to assess the potential performance of F-22 ABDR CLS personnel. F-117 ABDR team requirements and …


The Existence And Asymptotic Properties Of A Backfitting Projection Algorithm Under Weak Conditions, Oliver B. Linton, E. Mammen, Jens Perch Nielsen Sep 1997

The Existence And Asymptotic Properties Of A Backfitting Projection Algorithm Under Weak Conditions, Oliver B. Linton, E. Mammen, Jens Perch Nielsen

Cowles Foundation Discussion Papers

We derive the asymptotic distribution of a new backfitting procedure for estimating the closest additive approximation to a nonparametric regression function. The procedure employs a recent projection interpretation of popular kernel estimators provided by Mammen et al. (1997), and the asymptotic theory of our estimators is derived using the theory of additive projections reviewed in Bickel et al. (1995). Our procedure achieves the same bias and variance as the oracle estimator based on knowing the other components, and in this sense improves on the method analyzed in Opsomer and Ruppert (1997). We provide ‘high level’ conditions independent of the sampling …


An Adf Coefficient Test For A Unit Root In Arma Models Of Unknown Order With Empirical Applications To The U.S. Economy, Zhijie Xiao, Peter C.B. Phillips Sep 1997

An Adf Coefficient Test For A Unit Root In Arma Models Of Unknown Order With Empirical Applications To The U.S. Economy, Zhijie Xiao, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper proposes an ADF coefficient test for detecting the presence of a unit root in ARMA models of unknown order. Our approach is fully parametric. When the time series has an unknown deterministic trend, we propose a modified version of the ADF coefficient test based on quasi-differencing in the construction of the detrending regression as in Elliot, Rothenberg and Stock (1996). The limit distributions of these test statistics are derived. Empirical applications of these tests for common macroeconomic time series in the US economy are reported and compared with the usual ADF t -test.


Regressions For Partially Identified, Cointegrated Simultaneous Equations, In Choi, Peter C.B. Phillips Sep 1997

Regressions For Partially Identified, Cointegrated Simultaneous Equations, In Choi, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper studies regressions for partially identified equations in simultaneous equations models (SEMs) where all the variables are I(l) and cointegrating relations are present. Asymptotic properties of OLS and 2SLS estimators under partial identification are derived. The results show that the identifiabilitv condition is important for consistency of estimates in nonstationary SEMs as it is for stationary SEMS. Also, OLS and 2SLS estimators are shown to have different rates of convergence and divergence under partial identification, though they have the same rates of convergence and divergence for the two polar cases of full identification and total lack of identifiability. Even …


Band Spectral Regression With Trending Data, Dean Corbae, Sam Ouliaris, Peter C.B. Phillips Sep 1997

Band Spectral Regression With Trending Data, Dean Corbae, Sam Ouliaris, Peter C.B. Phillips

Cowles Foundation Discussion Papers

Band spectral regression with deterministic and stochastic trends is considered. It is shown that conventional trend removal by regression in the time domain prior to band spectral regression leads to biased and inconsistent estimates of the parameters in a model with frequency dependent coefficients. Time domain and frequency domain procedures for dealing with this problem are examined. Trend removal in the frequency domain produces unbiased estimates and is recommended. An asymptotic theory is developed and the two cases of stationary data and cointegrated nonstationary data are compared. Efficient band spectral regression estimators and associated inferential methods are provided for models …


A Multifractal Model Of Asset Returns, Benoit Mandelbrot, Adlai Fisher, Laurent Calvet Sep 1997

A Multifractal Model Of Asset Returns, Benoit Mandelbrot, Adlai Fisher, Laurent Calvet

Cowles Foundation Discussion Papers

This paper presents the multifractal model of asset returns (“MMAR”), based upon the pioneering research into multifractal measures by Mandelbrot (1972, 1974). The multifractal model incorporates two elements of Mandelbrot’s past research that are now well-known in finance. First, the MMAR contains long-tails, as in Mandelbrot (1963), which focused on Lévy-stable distributions. In contrast to Mandelbrot (1963), this model does not necessarily imply infinite variance. Second. the model contains long-dependence, the characteristic feature of fractional Brownian Motion (FBM), introduced by Mandelbrot and van Ness (1968). In contrast to FBM, the multifractal model displays long dependence in the absolute value of …


Large Deviations And The Distribution Of Price Changes, Laurent Calvet, Adlai Fisher, Benoit Mandelbrot Sep 1997

Large Deviations And The Distribution Of Price Changes, Laurent Calvet, Adlai Fisher, Benoit Mandelbrot

Cowles Foundation Discussion Papers

The Multifractal Model of Asset Returns (“MMAR,” see Mandelbrot, Fisher, and Calvet, 1997) proposes a class of multifractal processes for the modelling of financial returns. In that paper, multifractal processes are defined by a scaling law for moments of the processes’ increments over finite time intervals. In the present paper, we discuss the local behavior of multifractal processes. We employ local Hölder exponents, a fundamental concept in real analysis that describes the local scaling properties of a realized path at any point in time. In contrast with the standard models of continuous time finance, multifractal processes contain a multiplicity of …


Multifractality Of Deutschemark/Us Dollar Exchange Rates, Adlai Fisher, Laurent Calvet, Benoit Mandelbrot Sep 1997

Multifractality Of Deutschemark/Us Dollar Exchange Rates, Adlai Fisher, Laurent Calvet, Benoit Mandelbrot

Cowles Foundation Discussion Papers

This paper presents the first empirical investigation of the Multifractal Model of Asset Returns (“MMAR”). The MMAR, developed in Mandelbrot, Fisher, and Calvet (1997), is an alternative to ARCH-type representations for modelling temporal heterogeneity in financial returns. Typically, researchers introduce temporal heterogeneity through time-varying conditional second moments in a discrete time framework. Multifractality introduces a new source of heterogeneity through time-varying local regularity in the price path. The concept of local Hölder exponent describes local regularity. Multifractal processes bridge the gap between locally Gaussian (Itô) diffusions and jump-diffusions by allowing a multiplicity of Hölder exponents. This paper investigates multifractality in …


The Need For Exchange Rates Convergence In Nigeria, P. J. Obaseki Sep 1997

The Need For Exchange Rates Convergence In Nigeria, P. J. Obaseki

Economic and Financial Review

This paper examined the relevance of exchange rates convergence in the context of a realistic exchange rate and the implementation of a successful Economic Adjustment Programme, with particular reference to external sector competitiveness and viability. The paper was unambiguous in respect of the superiority of convergence over other schemes ranging from multiple to a dual exchange rate system. A unified exchange rate system, resulting from a free interplay of market forces, eliminates waste arising from subsidies and inefficient allocation of foreign exchange. A unified rate also reduces rent-seeking behaviours that flourish under a dual or multiple exchange rate system. After …


Strategy For Growth-Led Poverty Alleviation In Nigeria, A. S. F. Atoloye Sep 1997

Strategy For Growth-Led Poverty Alleviation In Nigeria, A. S. F. Atoloye

Economic and Financial Review

The economic growth process of a country is determined by a number of factors among which is technological change. Increased output/performance permitted by this goes a long way in alleviating poverty. Rapid and sustained economic growth utilizing a new industrial strategy calls for proficient use of the natural advantages of modern infrastructures which further serves as a poverty-reducing strategy. The author states that the most credible option by which the poor can receive a fair share of the benefits of development is by subjecting the economy to the full discipline and rigours of market forces for a poverty-reducing growth. Governments …


Public Sector Growth: An Econometric Test Of Wagner's Law, E. A. Essien Sep 1997

Public Sector Growth: An Econometric Test Of Wagner's Law, E. A. Essien

Economic and Financial Review

This study makes use of recent developments in econometric technique to test Wagner s Law of increased state activity according to which Government Expenditure must increase at a rate faster than National Output. It makes use of three different interpretations of the Law, namely, increasing relative share for the public sector in the total economy as per capita real income grows, total government expenditure as a function of real income, and relating per capita total government expenditure to per capita income. In all cases the variables were not cointegrated hence a long run equilibrium relationship could not be established between …


Corruption And Governance In The South Pacific, Peter Larmour Sep 1997

Corruption And Governance In The South Pacific, Peter Larmour

Pacific Studies

Talk about corruption has increased in the South Pacific, though it is hard to tell if there is more corruption or just more reporting of it. Defining corruption as “the use of public office for private gain,” this article considers some recent reports of corruption in relation to other issues in South Pacific politics: tradition, ethnicity, aid, land tenure, sovereignty, and governance.


Consumer Debt, Alcohol Use, And Domestic Violence In Guam, Thomas K. Pinhey, Daniel A. Lennon, Nicholas A. Pinhey Sep 1997

Consumer Debt, Alcohol Use, And Domestic Violence In Guam, Thomas K. Pinhey, Daniel A. Lennon, Nicholas A. Pinhey

Pacific Studies

Using community-level economic and crime data derived from secondary sources, this brief study explores the relationships between consumer debt, alcohol use, and domestic violence in Guam for the years 1982 through 1993. The results of the analysis indicate that higher levels of consumer debt are strongly related to greater alcohol consumption and domestic violence, thus suggesting that “financial strain” may be an important variable for understanding patterns of substance abuse and family violence in Guam. The implications of these results for theory and future research on substance abuse and domestic violence are also discussed.


Measurement Issues In Poverty, A. Englama, A. Bamidele Sep 1997

Measurement Issues In Poverty, A. Englama, A. Bamidele

Economic and Financial Review

The paper defines poverty as certain disabilities such as the inability to participate with dignity in society. It also demonstrates that in measuring poverty, emphasis should not be mainly on income or consumption, hut that cognizance should be taken of social, economic and basic infrastructures as well as environmental factors. The paper farther mentions some inherent problems in measuring poverty such as conceptual and data problems. Once these problems are overcome, a simple head count could provide an insight into poverty measurement. J11e depth and severity of poverty can be determined by the P-Index which captures the number of the …


Foreign Private Investment In Nigeria - 1995, Central Bank Of Nigeria Cbn Sep 1997

Foreign Private Investment In Nigeria - 1995, Central Bank Of Nigeria Cbn

Economic and Financial Review

The net flow of foreign private investment into the Nigerian economy increased substantitally by more than twelve-folds from "M1, 907. 2 million in 1994 to N48, 677. 0 million in 1995, reflecting the stable macro-economic conditions during the period. All the components of foreign investment flows contributed to the increase with the contribution of unremitted profit accounting for the highest. Analyses of the investment flows showed that companies of Western Europe accounted for 78. 7 per cent of the total net inflow mainly through firms in the mining and quarrying sector. The survey revealed that the cumulative level of foreign …


Mobilizing Rural Savings In Papua New Guinea: Myths, Realities, And Needed Policy Reform (N.A. Fernando, The Journal Of Institute Of Development Economics, Tokyo, Japan, Vol. Xxix, No. 1, March, 1992), M. Abdulkadir Sep 1997

Mobilizing Rural Savings In Papua New Guinea: Myths, Realities, And Needed Policy Reform (N.A. Fernando, The Journal Of Institute Of Development Economics, Tokyo, Japan, Vol. Xxix, No. 1, March, 1992), M. Abdulkadir

Economic and Financial Review

A review of the article "Mobilizing Rural Savings in Papua New Guinea: Myths, Realities and Needed Policy Reforms" is imperative considering the efforts of the Federal Government and monetary authorities, especially the Central Bank of Nigeria to mobilize rural savings in Nigeria. This is evidenced by the establishment of the Nigerian Agricultural and Cooperative Bank ( 1973), the Agricultural Credit Guarantee Scheme ( 1977), the Central Bank of Nigeria Rural Banking Programme (1977), the Peoples Bank (1990) and the Community Bank (1990) nationwide.


Poverty In New Mexico Who Are The Poor_Sept 1997, Adelamar Alcantara, Kevin Kargacin, Marie Mora, Richard Santos, Lawrence A. Waldman Sep 1997

Poverty In New Mexico Who Are The Poor_Sept 1997, Adelamar Alcantara, Kevin Kargacin, Marie Mora, Richard Santos, Lawrence A. Waldman

BBER Publications

The report examines the extent, characteristics, and determinants of poverty in New Mexico, using data from the 1990 Census Public Use Microdata Sample (PUMS) and the March 1996 Current Population Survey.


An Evaluation Of The Washington State Unemployment Insurance Earnings Deduction Experiment, Christopher J. O'Leary Sep 1997

An Evaluation Of The Washington State Unemployment Insurance Earnings Deduction Experiment, Christopher J. O'Leary

Reports

No abstract provided.


Impact Of South Dakota Agriculture 1991-1995, Martin K. Beutler Aug 1997

Impact Of South Dakota Agriculture 1991-1995, Martin K. Beutler

Economics Commentator (1972- 2016)

No abstract provided.


How Not To Prevent Oil Crises: Challenge For An Education President, Ibpp Editor Aug 1997

How Not To Prevent Oil Crises: Challenge For An Education President, Ibpp Editor

International Bulletin of Political Psychology

This article describes several problematic approaches that are components of lay psychology.


Trends. The Imf, The World Bank, And Throwing The Scoundrels Out: Who Are The Scoundrels?, Ibpp Editor Aug 1997

Trends. The Imf, The World Bank, And Throwing The Scoundrels Out: Who Are The Scoundrels?, Ibpp Editor

International Bulletin of Political Psychology

The author discusses the ins and outs of the IMF and World Bank.


Seasonal Adjustment Of Naira Exchange Rate Statistics 1970-1995, O M. Akinuli Aug 1997

Seasonal Adjustment Of Naira Exchange Rate Statistics 1970-1995, O M. Akinuli

CBN Occasional Papers

This paper uses a current statistical approach to examine and adjust the seasonalities in the Naira exchange rate statistics, vis-a-vis the U.S. Dollar and the pound sterling for a period of twenty-five (25) years. Such study is necessary as it helps to understand the behavioural pattern of a trend in an attempt to predict the future. An investigation like this also helps to expose both the short and long run tendencies of a series which may require urgent or new policy measures to be taken sooner than expected. This paper reviews the regimes of exchange rate under the period, the …


A Study Of The Stochastic Behavior Of Durable Goods Consumption, Alexander Lebedinsky Aug 1997

A Study Of The Stochastic Behavior Of Durable Goods Consumption, Alexander Lebedinsky

Masters Theses & Specialist Projects

The author of this thesis examines the stochastic behavior of durables consumption in the rational expectations/permanent income hypothesis framework. The testing in this paper parallels the studies conducted by other researchers, who basing their work mainly on quarterly data rejected the frictionless rational expectations/permanent income hypothesis. The distinctive feature of this thesis is that the models are examined using monthly instead of quarterly data. The results of the estimation are compared to the results based on quarterly data. The results show that estimates obtained using monthly data seem to be more consistent with the frictionless rational expectations/permanent income hypothesis than …


How To Avoid Being Too Soon Old Too Late Smart: More Sage Wisdom From Pre-Boomers And Boomers To The Yuppie Puppies Of Generation X, Don P. Diffine Ph.D. Aug 1997

How To Avoid Being Too Soon Old Too Late Smart: More Sage Wisdom From Pre-Boomers And Boomers To The Yuppie Puppies Of Generation X, Don P. Diffine Ph.D.

Belden Center Books

We must learn from those who have been around the block a few more times than we have. As the earth rotates, Father Time stands still for none of us. Education lasts all our lives: womb to tomb. So, can we who are life's veterans think of a better reason for feeling good about putting our best thoughts in How to Avoid Being Too Soon Old and Too Late Smart? If we could just get our young people to read this valuable time capsule, we'd be helping them to stay right side up and on track for their life's …


Labor Policy Evaluation: Lessons From The American Experience, Susan N. Houseman Aug 1997

Labor Policy Evaluation: Lessons From The American Experience, Susan N. Houseman

Conference Papers

No abstract provided.


What Should We Do About Global Warming? Weighing The Pros And Cons, Murray L. Weidenbaum Aug 1997

What Should We Do About Global Warming? Weighing The Pros And Cons, Murray L. Weidenbaum

Murray Weidenbaum Publications

The most controversial environmental issue facing the country today is how to respond to the pressure to fight global warming by substantially reducing emissions of carbon dioxide (CO2), the leading greenhouse gas. The United States has reached a point where it is personally and professionally dangerous, if not foolhardy, to criticize in any way any proposal to "do more for the environment." Nevertheless, in advance of the massive UN Framework Convention on Climate Change meeting in Kyoto, Japan in December 1997, this paper suggests that we should examine the seriousness of the problem and the feasibility of the suggested solution.