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2001

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Articles 1 - 30 of 611

Full-Text Articles in Economics

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2001, Central Bank Of Nigeria Dec 2001

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2001, Central Bank Of Nigeria

CBN Annual Report

The Report, as in the past, reviews the operations of the Central Bank of Nigeria in its efforts at discharging its mandate for the fiscal year 2001. The major objectives of monetary policy for 2001 were outlined in the Bank's Monetary Policy Circular No. 35, which aimed to maintain internal and external balance, contribute to sustainable output growth and poverty reduction, and focus on the banking system, rate, rate regime, viability, and stability. Key policy targets included growth in broad money, narrow money, aggregate bank credit, growth in bank credit to the government, private sector, inflation rate, and GDP growth. …

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A Study Of Ship Scrapping Economics, Environmental Problems In South Asia And Solutions, Pradeep Chhabra Dec 2001

A Study Of Ship Scrapping Economics, Environmental Problems In South Asia And Solutions, Pradeep Chhabra

World Maritime University Dissertations

This dissertation is a study of economic concepts of ship scrapping, various toxic substances available on ships, their adverse effects on the environment in south Asian ship scrapping countries and possible solutions to raise the standards of ship scrapping to make it safe for the environment and human health. Ships, after the end of their economic life, are scrapped to recover many valuable materials, which are either recycled or reused. Ship scrapping is labour intensive. It is an economic activity, which has the tendency to be located in developing countries. A brief look has been taken at the economics of …

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Improving The Function Of Vessel Traffic Services In China Through Costs And Benefits Analysis, Dan Yang Dec 2001

Improving The Function Of Vessel Traffic Services In China Through Costs And Benefits Analysis, Dan Yang

World Maritime University Dissertations

No abstract provided.

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The Sorting Function: Evidence From Law School, Richard A. Ippolito Dec 2001

The Sorting Function: Evidence From Law School, Richard A. Ippolito

Journal of Legal Education

No abstract provided.

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Employee Ownership After Privatization: Governance Institutions And Firm Performance In Romania, John S. Earle, ÁLmos Telegdy Dec 2001

Employee Ownership After Privatization: Governance Institutions And Firm Performance In Romania, John S. Earle, ÁLmos Telegdy

Reports

This paper studies the governance institutions and performance consequences of privatization through management-employee buyout (MEBO) in Romania. Detailed firm-level survey data are used to analyze ownership rights practices concerning voting, dividend payment, and sales of shares, and to study the continued role of the state through restructuring restrictions in the privatization contracts, difficulties in installment payment, and possible renationalization of shares. Comprehensive privatization and registry data are used to estimate the productivity performance of industrial MEBOs, compared with mass transfers to dispersed individuals, sales to domestic and foreign blockholders, and continued ownership by the state. We find that the ownership …

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The Economic Impact Of Cornerstone Alliance On Berrien County, George A. Erickcek Dec 2001

The Economic Impact Of Cornerstone Alliance On Berrien County, George A. Erickcek

Reports

No abstract provided.

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Volatile Times And Volatile Prices, Matthew A. Diersen Dec 2001

Volatile Times And Volatile Prices, Matthew A. Diersen

Economics Commentator (1972- 2016)

No abstract provided.

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Volatile Times And Volatile Prices, Matthew A. Diersen Dec 2001

Volatile Times And Volatile Prices, Matthew A. Diersen

Economics Commentator (1972- 2016)

No abstract provided.

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Ua3/9/5 Partnerships For Progress: Linking Higher Education & Economic Development, Wku President's Office, Gary A. Ransdell Dec 2001

Ua3/9/5 Partnerships For Progress: Linking Higher Education & Economic Development, Wku President's Office, Gary A. Ransdell

WKU Administration Documents

Speech delivered by WKU president Gary Ransdell at the National Governor's Association Center for Best Practices. In response to Governor Patton's challenges to create Programs of Distinction and enhance the state's capacity for economic development, we, at Western, have created a series of applied science centers. These centers are directing faculty talent toward creating a relevant curriculum in the sciences, toward solving environmental and material problems which limit economic development, and toward creating practice-based experiences for students. A by-product of these centers is a strengthened core curriculum which brings the applied sciences into focus for all WKU students.

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Economic Restructuring, Technology Transfer And Human Resource Development By Virmani And Rao, Sage, New Delhi, 1999., Badar Alam Iqbal Dec 2001

Economic Restructuring, Technology Transfer And Human Resource Development By Virmani And Rao, Sage, New Delhi, 1999., Badar Alam Iqbal

IIMB Management Review

No abstract provided.

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Inductive Inference: An Axiomatic Approach, Itzhak Gilboa, David Schmeidler Dec 2001

Inductive Inference: An Axiomatic Approach, Itzhak Gilboa, David Schmeidler

Cowles Foundation Discussion Papers

A predictor is asked to rank eventualities according to their plausibility, based on past cases. We assume that she can form a ranking given any memory that consists of finitely many past cases. Mild consistency requirements on these rankings imply that they have a numerical representation via a matrix assigning numbers to eventuality-case pairs, as follows. Given a memory, each eventuality is ranked according to the sum of the numbers in its row, over cases in memory. The number attached to an eventuality-case pair can be interpreted as the degree of support that the past case lends to the plausibility …

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Bootstrapping Macroeconometric Models, Ray C. Fair Dec 2001

Bootstrapping Macroeconometric Models, Ray C. Fair

Cowles Foundation Discussion Papers

This paper outlines a bootstrapping approach to the estimation and analysis of macroeconometric models. It integrates for dynamic, nonlinear, simultaneous equation models the bootstrapping approach to evaluating estimators initiated by Efron (1979) and the stochastic simulation approach to evaluating models’ properties initiated by Adelman and Adelman (1959). It also estimates for a particular model the gain in coverage accuracy from using bootstrap confidence intervals over asymptotic confidence intervals.

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Competitive Pooling: Rothschild-Stiglitz Reconsidered, Pradeep Dubey, John Geanakoplos Dec 2001

Competitive Pooling: Rothschild-Stiglitz Reconsidered, Pradeep Dubey, John Geanakoplos

Cowles Foundation Discussion Papers

We build a model of competitive pooling, which incorporates adverse selection and signalling into general equilibrium. Pools are characterized by their quantity limits on contributions. Households signal their reliability by choosing which pool to join. In equilibrium, pools with lower quantity limits sell for a higher price, even though each household’s deliveries are the same at all pools. The Rothschild-Stiglitz model of insurance is included as a special case. We show that by recasting their hybrid oligopolistic-competitive story into our perfectly competitive framework, their separating equilibrium always exists (even when they say it doesn’t) and is unique.

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Penalised Maximum Likelihood Estimation For Fractional Gaussian Processes, Offer Lieberman Dec 2001

Penalised Maximum Likelihood Estimation For Fractional Gaussian Processes, Offer Lieberman

Cowles Foundation Discussion Papers

We apply and extend Firth’s (1993) modified score estimator to deal with a class of stationary Gaussian long-memory processes. Our estimator removes the first order bias of the maximum likelihood estimator. A small simulation study reveals the reduction in the bias is considerable, while it does not inflate the corresponding mean squared error.

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Subjective Distributions, Itzhak Gilboa, David Schmeidler Dec 2001

Subjective Distributions, Itzhak Gilboa, David Schmeidler

Cowles Foundation Discussion Papers

A decision maker has to choose one of several random variables, with uncertainty known distributions. As a Bayesian she behaves as if she knew the distributions. In his paper we suggest an axiomatic derivation of these (subjective) distributions, which is much more economical than the derivations by de Finetti or Savage. They derive the whole joint distribution of all the available random variables.

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Asymptotic Theory For Multivariate Garch Processes, F. Comte, Offer Lieberman Dec 2001

Asymptotic Theory For Multivariate Garch Processes, F. Comte, Offer Lieberman

Cowles Foundation Discussion Papers

We provide in this paper asymptotic theory for the multivariate GARCH (p,q) process. Strong consistency of the quasi-maximum likelihood estimator (MLE) is established by appealing to conditions given in Jeantheau [19] in conjunction with a result given by Boussama [9] concerning the existence of a stationary and ergodic solution to the multivariate GARCH (p,q) process. We prove asymptotic normality of the quasi-MLE when the initial state is either stationary or fixed.

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Unemployment: Concepts And Issues., Englama A. Dec 2001

Unemployment: Concepts And Issues., Englama A.

Bullion

The issue of persistent unemployment and overall manpower planning and utilization poses a great challenge to policy planners, human resources experts, and persons debating with employment programmed planning and implementation. Based on the experience of the NDE at promoting financial support for graduate employment promotion, there is a need for a sensitization programmed for public/commercial banks and other institutions on the need for lending to small and micro enterprises. This paper has examined Past policy measures for solving unemployment problems. There is strong need for institutional collaboration and improved coordination of policy measures for dealing with unemployment. It is evident …

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Evaluation Of Past Policy Measures For Solving Unemployment Problems., Nicholas A. Damachi Dec 2001

Evaluation Of Past Policy Measures For Solving Unemployment Problems., Nicholas A. Damachi

Bullion

The issue of persistent unemployment and overall manpower planning and utilization poses a great challenge to policy planners, human resources experts, and persons dealing with employment programmed planning and implementation. This paper undertakes a review and evaluation of the past policy measures that have been adopted to solve unemployment problems in the county. There is strong need for institutional collaboration and improved coordination of policy measures for dealing with unemployment. This paper has examined Past policy measures for solving unemployment problems. There is strong need for institutional collaboration and improved coordination of policy measures for dealing with unemployment. While there …

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Restructuring The Educational System As A Long-Term Solution To The Unemployment Problem In Nigeria., Abraham B. Borishade Dec 2001

Restructuring The Educational System As A Long-Term Solution To The Unemployment Problem In Nigeria., Abraham B. Borishade

Bullion

The educational process, formal or informal consciously created, represents an essential investment necessary for industrialization; such education must be planned to fit the needs of a changing society so that as the Urban complex grows and demands expand. Education is the key with which to unlock the economic potential of the people. In contemporary developing countries, there is an incongruous relationship between education and their economies. This is reflected in the rising pool of the phenomenon of educated unemployed more than ever before. This paper examines the increasing problem associated with unemployment in Nigeria. The author conclude that It is …

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Off-Shore Borrowing And Guarantees By Banks: Implication For Portfolio Management., C. C. Edordu Dec 2001

Off-Shore Borrowing And Guarantees By Banks: Implication For Portfolio Management., C. C. Edordu

Bullion

The subject I have been asked to reflect on is important and somewhat provocative given the potential significance of foreign capital in the development process and the implied doubt the topic raises about the capacity of banks to manage their portfolios on accessing external finance. With regard to financing tenors, it is pertinent to point out that the tenor of liabilities of most banks in Nigeria and Africa is short. The paper has focused on the various discussions about the conditions for good governance, which raises questions about the structure and functioning of the state, its relationship to society and …

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The Role Of Governance In National Development., Nathaniel C. Ozigbo Dec 2001

The Role Of Governance In National Development., Nathaniel C. Ozigbo

Bullion

One of the principal issues in the analysis of development is the extent to which the state and corporate organizations influence it. Prevailing ideas about the links among democracy, good governance and economic growth have come almost full circle over the past three decades. Governance is defined as the good government of society. Good government guides the country along a course leading to the desired goals, in this case development. The paper has focused on the various discussions about the conditions for good governance, which raises questions about the structure and functioning of the state, its relationship to society and …

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A Derivation Of Expected Utility Maximization In The Context Of A Game, Itzhak Gilboa, David Schmeidler Dec 2001

A Derivation Of Expected Utility Maximization In The Context Of A Game, Itzhak Gilboa, David Schmeidler

Cowles Foundation Discussion Papers

A decision maker faces a decision problem, or a game against nature. For each probability distribution over the state of the world (nature’s strategies), she has a weak order over her acts (pure strategies). We formulate conditions on these weak orders guaranteeing that they can be jointly represented by expected utility maximization with respect to an almost-unique state-dependent utility, that is, a matrix assigning real numbers to act-state pairs. As opposed to a utility function that is derived in another context, the utility matrix derived in the game will incorporate all psychological or sociological determinants of well-being that result from …

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Money And The Monetization Of Credit, Martin Shubik Dec 2001

Money And The Monetization Of Credit, Martin Shubik

Cowles Foundation Discussion Papers

The relationship between money and credit is discussed in terms of network linkage. Fiat money is the only instrument with the universal recognition of its issuer. Near monies such as bank money and money substitutes such as gasoline credit cards can be classified in terms of their network links. This leads to a way of considering the velocity of money.

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Competitive Pooling: Rothschild-Stiglitz Reconsidered, Pradeep Dubey, John Geanakoplos Dec 2001

Competitive Pooling: Rothschild-Stiglitz Reconsidered, Pradeep Dubey, John Geanakoplos

Cowles Foundation Discussion Papers

We build a model of competitive pooling, which incorporates adverse selection and signalling into general equilibrium. Pools are characterized by their quantity limits on contributions. Households signal their reliability by choosing which pool to join. In equilibrium, pools with lower quantity limits sell for a higher price, even though each household’s deliveries are the same at all pools. The Rothschild-Stiglitz model of insurance is included as a special case. We show that by recasting their hybrid oligopolistic-competitive story in our perfectly competitive framework, their separating equilibrium always exists (even when they say it doesn’t) and is unique.

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Believe And Let Believe: Axiomatic Foundations For Belief Dependent Utility Functionals, Leeat Yariv Dec 2001

Believe And Let Believe: Axiomatic Foundations For Belief Dependent Utility Functionals, Leeat Yariv

Cowles Foundation Discussion Papers

A large body of experimental data demonstrates that people’s beliefs influence their well-being beyond the indirect effect through the actions taken. I present a model that incorporates beliefs into an agent’s utility function. The paper provides axiomatic foundations for a special class of non-additive utility indices defined over infinite streams of beliefs and actions. I assume that: 1) there exists a (null) belief that does not have any effect on future preferences; 2) the agent has finite memory – only finite histories have an effect on current preferences; and 3) if the agent knows she will not be getting any …

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On Fair Allocations And Indivisibilities, Ning Sun, Zaifu Yang Dec 2001

On Fair Allocations And Indivisibilities, Ning Sun, Zaifu Yang

Cowles Foundation Discussion Papers

This paper studies the problem of how to distribute a set of indivisible objects with an amount M of money among a number of agents in a fair way. We allow any number of agents and objects. Objects can be desirable or undesirable and the amount of money can be negative as well. In case M is negative, it can be regarded as costs to be shared by the agents. The objects with the money will be completely distributed among the agents in a way that each agent gets a bundle with at most one object if there are more …

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Competitive Pooling: Rothschild-Stiglitz Reconsidered, Pradeep Dubey, John Geanakoplos Dec 2001

Competitive Pooling: Rothschild-Stiglitz Reconsidered, Pradeep Dubey, John Geanakoplos

Cowles Foundation Discussion Papers

We build a model of competitive pooling, which incorporates adverse selection and signalling into general equilibrium. Pools are characterized by their quantity limits on contributions. Households signal their reliability by choosing which pool to join. In equilibrium, pools with lower quantity limits sell for a higher price, even though each household’s deliveries are the same at all pools. The Rothschild-Stiglitz model of insurance is included as a special case. We show that by recasting their hybrid oligopolistic-competitive story into our perfectly competitive framework, their separating equilibrium always exists (even when they say it doesn’t) and is unique.

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Asset Prices In The Measurement Of Inflation, Michael F. Bryan, Stephen G. Cecchetti, Róisín O'Sullivan Dec 2001

Asset Prices In The Measurement Of Inflation, Michael F. Bryan, Stephen G. Cecchetti, Róisín O'Sullivan

Economics: Faculty Publications

The debate over including asset prices in the construction of an inflation statistic has attracted renewed attention in recent years. Virtually all of this (and earlier) work on incorporating asset prices into an aggregate price statistic has been motivated by a presumed, but unidentified transmission mechanism through which asset prices are leading indicators of inflation at the retail level. This paper takes an alternative, longer-term perspective on the issue and argues that the exclusion of asset prices introduces an excluded goods bias in the computation of the inflation statistic that is of interest to the monetary authority. This idea is …

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The Poverty Of Hard Work: Multiple Jobs And Low Wages In Family Economies Of Rural Utah Households, Christina E. Gringeri Dec 2001

The Poverty Of Hard Work: Multiple Jobs And Low Wages In Family Economies Of Rural Utah Households, Christina E. Gringeri

The Journal of Sociology & Social Welfare

The combination of paid work and poverty, or near poverty, is a growing problem in the United States, one of which is often accentuated by residence in rural, low-wage communities where underemployment is more prevalent than in metropolitan areas. This paper examines the experiences of sixty rural families with inadequate employment using data from ethnographic interviews with a particular focus on the strategies they use to meet their family's needs in spite of low-wage work.

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Keynote Address, Shamusudeen Usman Dec 2001

Keynote Address, Shamusudeen Usman

Economic and Financial Review

This is a keynote address delivered at the seminar with the theme " poverty alleviation: a more pragmatic approach

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