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Full-Text Articles in Economics

Vol. 10 No. 1 (1986): Pacific Studies Front Matter, The Jonathan Nāpela Center For Hawaiian And Pacific Islands Studies Oct 1986

Vol. 10 No. 1 (1986): Pacific Studies Front Matter, The Jonathan Nāpela Center For Hawaiian And Pacific Islands Studies

Pacific Studies

Pacific Studies is published two times a year by The Jonathan Nāpela Center for Hawaiian and Pacific Studies, Brigham Young University Hawai‘i #1979, 55–220 Kulanui Street, Lāʻie, Hawai‘i 96762, but responsibility for opinions expressed in the articles rests with the authors alone. Subscription rate is US$40.00 yearly, payable to The Jonathan Nāpela Center for Hawaiian and Pacific Studies. The Jonathan Nāpela Center for Hawaiian and Pacific Studies (formerly The Pacific Institute) is an organization funded by Brigham Young University Hawai‘i. The Center assists the University in meeting its cultural and educational goals by undertaking a program of teaching, research, and …


Enough Commodity Money And The Selection Of A Unique Competitive Equilibrium, Martin Shubik Oct 1986

Enough Commodity Money And The Selection Of A Unique Competitive Equilibrium, Martin Shubik

Cowles Foundation Discussion Papers

Suppose that we reformulate the exchange economy as a strategic market game. As all purchases are paid for in cash it is possible to attach precise meaning to what is meant by enough money. As the game is a single simultaneous bid and offered at m trading posts and m prices are all simultaneously determined, in essence the trading technology is completely specified.


Testing For Cointegration Using Principal Component Methods, Peter C.B. Phillips, Sam Ouliaris Oct 1986

Testing For Cointegration Using Principal Component Methods, Peter C.B. Phillips, Sam Ouliaris

Cowles Foundation Discussion Papers

This paper studies cointegrated systems of multiple time series which are individually well described as integrated processes (with or without a drift). Necessary and sufficient conditions for cointegration are given. These conditions form the basis for a new class of statistical procedures designed to test for cointegration. The new procedures rely on principal components methods. They are simple to employ and they involve only the standard normal distribution. Monte Carlo simulations reported in the paper indicate that the new procedures provide simple and apparently rather powerful diagnostics for the detection of cointegration. Some empirical applications to macroeconomic data are conducted.


Vol. 10 No. 1 (1986): Pacific Studies Full Issue, The Jonathan Nāpela Center For Hawaiian And Pacific Islands Studies Oct 1986

Vol. 10 No. 1 (1986): Pacific Studies Full Issue, The Jonathan Nāpela Center For Hawaiian And Pacific Islands Studies

Pacific Studies

Pacific Studies is published two times a year by The Jonathan Nāpela Center for Hawaiian and Pacific Studies, Brigham Young University Hawai‘i #1979, 55–220 Kulanui Street, Lāʻie, Hawai‘i 96762, but responsibility for opinions expressed in the articles rests with the authors alone. Subscription rate is US$40.00 yearly, payable to The Jonathan Nāpela Center for Hawaiian and Pacific Studies. The Jonathan Nāpela Center for Hawaiian and Pacific Studies (formerly The Pacific Institute) is an organization funded by Brigham Young University Hawai‘i. The Center assists the University in meeting its cultural and educational goals by undertaking a program of teaching, research, and …


George E. Marcus's Review Of Jocelyn Linnekin's Children Of The Land: Exchange And Status In A Hawaiian Community, George E. Marcus Oct 1986

George E. Marcus's Review Of Jocelyn Linnekin's Children Of The Land: Exchange And Status In A Hawaiian Community, George E. Marcus

Pacific Studies

No abstract provided.


The Unique Minimal Cash Flow Competitive Equilibrium, Martin Shubik Oct 1986

The Unique Minimal Cash Flow Competitive Equilibrium, Martin Shubik

Cowles Foundation Discussion Papers

The exchange economy E can be reformulated as a strategic market game. In particular the point of concern here involves the introduction of a specified amount of credit or fiat money to monetize exchange. Dubey and Shubik (1979) and Shubik and Wilson (1977) have studied the possibility of introducing a fixed amount M of money to finance trade. When one formulates exchange as a game of strategy using any form of credit or fiat money where there is any possibility whatsoever that an individual will be unable to pay back that which he has borrowed, the rules of the game …


Projections Of Water Availability In The_October 1986, John C. Tysseling, David Boldt, Brian Mcdonald Oct 1986

Projections Of Water Availability In The_October 1986, John C. Tysseling, David Boldt, Brian Mcdonald

BBER Publications

The report examines future water supply and demand conditions in three major southern New Mexico hydrologic regions: the Lower Rio Grande Surface Drainage Basin, the Gila-San Francisco Surface Drainage Basin, and the Mimbres Closed Basin. Prepared by John C. Tysseling, David Boldt, and Brian McDonald of the University of New Mexico Bureau of Business and Economic Research in cooperation with the New Mexico Water Resources Research Institute, the study was designed to identify the magnitude and location of future water scarcity conditions and to provide a planning framework for water resource management through the year 2005. Using 1980 water-use inventories …


Projections Of Water Availability In The_October 1986 (2), John C. Tysseling, David Boldt, Brian Mcdonald Oct 1986

Projections Of Water Availability In The_October 1986 (2), John C. Tysseling, David Boldt, Brian Mcdonald

BBER Publications

The report examines future water supply and demand conditions in three major southern New Mexico hydrologic regions: the Lower Rio Grande Surface Drainage Basin, the Gila-San Francisco Surface Drainage Basin, and the Mimbres Closed Basin. Prepared by John C. Tysseling, David Boldt, and Brian McDonald of the University of New Mexico Bureau of Business and Economic Research in cooperation with the New Mexico Water Resources Research Institute, the study was designed to identify the magnitude and location of future water scarcity conditions and to provide a planning framework for water resource management through the year 2005. Using 1980 water-use inventories …


Santa Fe General Community Public Transportation Study, University Of New Mexico Bureau Of Business And Economic Research Oct 1986

Santa Fe General Community Public Transportation Study, University Of New Mexico Bureau Of Business And Economic Research

BBER Publications

This report summarizes the findings concerning public transportation attitudes and community demand in Santa Fe, New Mexico. Based on a sample of 400 households, the survey establishes that 52.2% of respondents or their family members would use a public bus system if made available. The metrics indicate strong civic backing for financing, as 81.5% approve of using city funds to support the transit service and 63.7% express a willingness to pay additional taxes to maintain it.


Responding To Corporate Takeovers: Raiders, Management, And Boards Of Directors, Murray L. Weidenbaum Oct 1986

Responding To Corporate Takeovers: Raiders, Management, And Boards Of Directors, Murray L. Weidenbaum

Murray Weidenbaum Publications

This article refutes the need for government to intervene in hostile takeovers, arguing instead that the blame lies with board management. Acknowledging that "hostile" takeovers represent just a small fraction of all mergers, it stresses that corporate boards ultimately have the final say in all decisions.


Interest Rate Volatility And The Demand For Money, James Mcgibany, Farrokh Nourzad Oct 1986

Interest Rate Volatility And The Demand For Money, James Mcgibany, Farrokh Nourzad

Economics Faculty Research and Publications

No abstract provided.


Santa Fe General Community_Oct 1986, David Boldt Oct 1986

Santa Fe General Community_Oct 1986, David Boldt

BBER Publications

The study reports the results of a telephone survey of Santa Fe residents regarding public transportation needs, travel behavior, willingness to use transit, willingness to pay for transit, transportation problems among seniors and handicapped residents, and opinions about transit funding priorities. The survey was conducted for the City of Santa Fe Planning Department and completed in August 1986.


Continued Declines In South Dakota Farmland Prices, Larry Janssen Sep 1986

Continued Declines In South Dakota Farmland Prices, Larry Janssen

Economics Commentator (1972- 2016)

No abstract provided.


Stabilizing An Unstable Economy, Hyman P. Minsky Ph.D. Sep 1986

Stabilizing An Unstable Economy, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Prepared for a Bank Credit Analyst Conference held in the Plaza Hotel, NYC. This paper was subsequently included in the Special Monograph published bytheBank /credit Analyst, "The Escalation in Debt and Disinflation: Prelude to Financial Mania and Crash?" which is also included here.


Human Resource Policy Issues: Panel On Technology And Employment, Committee On Science, Engineering, And Public Policy, H. Allan Hunt Sep 1986

Human Resource Policy Issues: Panel On Technology And Employment, Committee On Science, Engineering, And Public Policy, H. Allan Hunt

Testimonies

No abstract provided.


Cash Settlement For Feeder Cattle, Gene E. Murra Sep 1986

Cash Settlement For Feeder Cattle, Gene E. Murra

Economics Commentator (1972- 2016)

No abstract provided.


How To Maintain Full Employment, Hyman P. Minsky Ph.D. Sep 1986

How To Maintain Full Employment, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

One of the ongoing columns, "The ECONOMY from the Not-So Ivory Tower."


Asymptotic Equivalence Of Ols And Gls In Regressions With Integrated Regressors, Peter C.B. Phillips, Joon Y. Park Sep 1986

Asymptotic Equivalence Of Ols And Gls In Regressions With Integrated Regressors, Peter C.B. Phillips, Joon Y. Park

Cowles Foundation Discussion Papers

In the multiple regression model y t = x’ t β + u t where { u t } is stationary and x t is an integrated m -vector process it is shown that the asymptotic distributions of the ordinary least squares (OLS) and generalized least squares (GLS) estimators of β are identical. This generalizes a recent result obtained by Kramer (1986) for simple two variate regression. Our approach makes use of a multivariate invariance principle and yields explicit representations of the asymptotic distributions in terms of fuctionals of vector Brownian motion. Some useful assumption results for hypothesis tests in …


Foreign Private Investment In Nigeria In 1984, Central Bank Of Nigeria Cbn Sep 1986

Foreign Private Investment In Nigeria In 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

This report presents the results of the Central Bank of Nigeria's annual survey of Foreign Private Investment in the country in 1984. The survey was conducted through questionnaires sent to companies I whose capital structure was wholly foreign 2 or joint Nigeria/Foreign. The report is presented under the following subheadings: flow of foreign private capital, components of net capital flow, cumulative and net investments by country/region of origin and economic sectors, cumulative/net short and long term investment, cumulative and net investment in the manufacturing and processing sector by type of industry, stock of fixed asset at cost and at book …


Developments In Nigeria's External Sector During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn Sep 1986

Developments In Nigeria's External Sector During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

Nigeria's external transactions during the third quarter of 1986 resulted in a net inflow of N466.9 million in contrast with the net outflows of N25 million at the end of the preceding quarter and N247.1 million during the third quarter of 1985 (See Table 1). The apparent tum-around, did not, however, reflect any real improvement in the country's tight foreign exchange situation. In fact, outstanding arrears on current transactions at the end of the quarter showed an increase over the level at the end of the second quarter. The net inflow figure therefore was largely the result of administrative measures …


Developments In The Financial System During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn Sep 1986

Developments In The Financial System During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

The narrow measure of money stock, (Ml), declined during the third quarter due, on the one hand, to increases in quasi money and 'other' assets of the banking system and on the other, partially offsetting increases in foreign assets and in credit to the domestic economy. The broader measure, (M2), maintained an upward trend. The money and capital market both recorded moderate increases in the level activities during the quarter.


Developments In The Agricultural Sector Of The Economy During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn Sep 1986

Developments In The Agricultural Sector Of The Economy During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

Harvesting of grains and tubers was the dominant activity in the agricultural sector in most parts of the country during the third quarter of 1986. In spite of the lower-than-average amounts of rainfall recorded during the first half of the year, a bumper harvest of maize, rice, yams and cassava was reported


Review Of "Sources Of Economic-Growth In Korea: 1963-1982" By K.-S. Kim And J.-K. Park, Larry E. Westphal Sep 1986

Review Of "Sources Of Economic-Growth In Korea: 1963-1982" By K.-S. Kim And J.-K. Park, Larry E. Westphal

Economics Faculty Works

No abstract provided.


On The Formulation Of Wald Tests Of Nonlinear Restrictions, Peter C.B. Phillips, Joon Y. Park Sep 1986

On The Formulation Of Wald Tests Of Nonlinear Restrictions, Peter C.B. Phillips, Joon Y. Park

Cowles Foundation Discussion Papers

This paper utilizes asymptotic expansions to investigate alternative forms of the Ward set of nonlinear restrictions. Some formulae for the asymptotic expansion of the distribution of the Wald statistic are provided for a general case. When specialized to the simple cases that have been studied recently in the literature, these formulae are found to explain rather well the discrepancies in sampling behavior that have been observed by other authors. It is further shown how the correction delivered by the Edgeworth expansion may be used to find transformations of the restrictions which accelerate convergence to the asymptotic distribution.


Monetary Policy, Fiscal Policy, And Aggregate Economic Activity In Korea, Abdur Chowdhury Sep 1986

Monetary Policy, Fiscal Policy, And Aggregate Economic Activity In Korea, Abdur Chowdhury

Economics Faculty Research and Publications

No abstract provided.


Business Capitol District Transportation_Sep 1986, David Boldt Sep 1986

Business Capitol District Transportation_Sep 1986, David Boldt

BBER Publications

The study was based on a large survey conducted during May and June 1986 to assess perceptions of parking shortages, responsibility for parking provision and payment, and support for a potential peripheral parking and shuttle-bus system.


Santa Fe Special Population Trasport_Sep 1986, David Boldt Sep 1986

Santa Fe Special Population Trasport_Sep 1986, David Boldt

BBER Publications

The study assessed travel behavior, willingness to use and pay for public transit, transportation barriers, awareness of existing transit programs, and support for funding public transportation.


Business Capitol District Transportation Study, University Of New Mexico Bureau Of Business And Economic Research Sep 1986

Business Capitol District Transportation Study, University Of New Mexico Bureau Of Business And Economic Research

BBER Publications

This report analyzes the opinions and behaviors of downtown workers regarding traffic and congestion issues in the Business Capitol District of Santa Fe, New Mexico. Based on a robust sample of 1,162 returned questionnaires, the study establishes that 88.2% of downtown workers perceive parking to be a persistent, major problem. To resolve this, 39.9% place the primary responsibility on the City of Santa Fe to provide space, while a strong financial consensus indicates that employers should absorb parking costs, with 37.4% favoring full employer coverage and 33.8% backing shared employer-employee funding.


Santa Fe Special Population Transportation Study, University Of New Mexico Bureau Of Business And Economic Research Sep 1986

Santa Fe Special Population Transportation Study, University Of New Mexico Bureau Of Business And Economic Research

BBER Publications

This report assesses the demand, priorities, and willingness to pay for a public transit system among vulnerable or targeted demographic groups—specifically handicapped individuals, medical patients, senior citizens, and local college students—in Santa Fe, New Mexico. Based on 299 gathered questionnaires, the study concludes that 80.8% of this special population sample would utilize a public bus system if established. Funding support is heavily favored, with 81.8% approving the use of city funds to secure equipment and a 61.5% majority supporting additional taxes to subsidize the service.


Business Climate A Comparison Of Select_Sep 1986, David Boldt, Brian Mcdonald Sep 1986

Business Climate A Comparison Of Select_Sep 1986, David Boldt, Brian Mcdonald

BBER Publications

The report compares the business climates of ten western metropolitan areas, including Albuquerque, Austin, Tucson, Salt Lake City, and Sacramento, using measures such as market access, taxes, labor costs, education, defense spending, cost of living, and quality of life. The report concludes that factors such as labor costs, educational attainment, access to markets, and defense expenditures appear to be more influential in economic growth and business attraction than taxes alone.