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Review Of "Information And Coordination" By Axel Leijonhufvud, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Book review. Axel Leijonhufvud. Information and Coordination. Oxford, England: Oxford University Press, 1981, pp. 976-977, in The Economic Journal, Dec. 1982.

Also included are:

The letter sent by Minsky to Donald Winch with the review, and a copy of the review in manuscript with Minsky's corrections.

Global Stability In A Class Of Markets With Three Commodities And Three Consumers, Masayoshi Hirota

Cowles Foundation Discussion Papers

No abstract provided.

The Exact Distribution Of Liml: I, Peter C.B. Phillips

Cowles Foundation Discussion Papers

It is shown that the exact finite sample distribution of the limited information maximum likelihood (LIML) estimator in a general and leading single equation case is multivariate Cauchy. When the LIML estimator utilizes a known error covariance matrix (LIMLK) it is proved that the same Cauchy distribution still applies. The corresponding result for the instrumental variable (IV) estimator is a form of multivariate t density where the degrees of freedom depend on the number of instruments.

Marginal Versus Average Cost Pricing In The Presence Of A Public Monopoly, Donald J. Brown, Geoffrey M. Heal

Cowles Foundation Discussion Papers

No abstract provided.

Near-Markets And Market Games, Martin Shubik, Myrna Holtz Wooders

Cowles Foundation Discussion Papers

No abstract provided.

Hearing On Displaced Workers: Testimony, Saul J. Blaustein

Testimonies

No abstract provided.

Optimal Labor Contracts And The Role Of Monetary Policy In An Overlapping Generations Model, Russell Cooper

Cowles Foundation Discussion Papers

This paper extends the optimal labor contracts literature to consider an environment with both real and nominal shocks. In an overlapping generations model, we compare alternative means of trading labor services: spot markets, fixed nominal wage contracts and price-contingent contracts. The ordering of these market structures will depend on the relative variability of the real and nominal shocks and the costs of contingent contracts. We also investigate the role of monetary policy and the circumstances under which feedback rules are neutral. Finally, we show that a non-stochastic monetary policy is optimal.

Survey Of Metal Plating In Albuquerque_December 1982, Karen Beattie

BBER Publications

The report examines the demand for and supply of industrial metal plating services in the Albuquerque metropolitan area. Prepared by Karen Beattie of the University of New Mexico Bureau of Business and Economic Research for the Albuquerque Industrial Development Service (AIDS), the study was undertaken to assess whether local plating capacity could meet the needs of existing and prospective manufacturers and to evaluate the feasibility of expanding local plating operations. Using personal and telephone surveys of eighteen industrial plating users and all five industrial plating suppliers operating in Albuquerque, the report analyzes plating requirements, service volume, quality standards, supplier selection …

Dealing With Deficits And The Rise In Federal Spending, Murray L. Weidenbaum

Murray Weidenbaum Publications

This piece examines how much should the federal budget be cut and where the major cuts should be.

Robotics: Human Resource Implications For Michigan: A Research Summary, H. Allan Hunt, Timothy L. Hunt

Reports

No abstract provided.

New Mexico Labor Market Review 11-30-1982, New Mexico Employment Security Department

Historic Publications

This issue of the New Mexico Labor Market Review presents October 1982 employment, unemployment, wage, and economic activity data for New Mexico, its counties, and metropolitan areas.

Interest Rates Impact On Farm Income, Richard C. Shane

Economics Commentator (1972- 2016)

No abstract provided.

Revelation Of Information In Strategic Market Games: A Critique Of Rational Expectations, Pradeep Dubey, John Geanakoplos, Martin Shubik

Cowles Foundation Discussion Papers

We criticize the R.E.E. approach to asymmetric information general equilibrium because it does not explain how information gets “into” the prices. This leads to well-known paradoxes. We suggest a multiperiod game instead, where the flow of information into and out of prices is explicitly modeled. In our game Nash equilibria (N.E.) (1) generalize Walrasian equilibria to asymmetric information; (2) exist generically; (3) eliminate pure speculation; (4) allow prices to reveal information and markets to become more efficient over time; (5) are consistent with the weak efficient markets hypothesis that tracking past prices is not profitable; (6) yet always lead to …

Scarf's Procedure For Integer Programming And A Dual Simplex Algorithm, Philip M. White, Andrew S. Caplin, Ludo Van Der Heyden

Cowles Foundation Discussion Papers

Herbert Scarf has recently introduced an algorithm for integer programs based on the concept of primitive sets. We show that as the choice variables become continuous, this algorithm converges to a dual simplex algorithm. This result is robust in the sense that even before the limit is reached, the simplex path is contained in the primitive sets which define Scarf’s path to the solution of the integer program.

Stable Disequilibrium Prices: Macroeconomics And Increasing Returns I, Geoffrey M. Heal

Cowles Foundation Discussion Papers

The paper establishes conditions for the existence of a set of prices which are stable and at which markets do not clear, providing a rigorous foundation for the existence of fixed-price equilibria via the macroeconomics of increasing returns. It analyzes a Walrasian price adjustment process for a general equilibrium economy with economies of scale in production.

A Geometric Explanation Of The Transfer Paradox In A Stable Economy, John Geanakoplos, Geoffrey M. Heal

Cowles Foundation Discussion Papers

No abstract provided.

Investment Versus Savings Incentives: The Size Of The Bang For The Buck And The Potential For Self-Financing Business Tax Cuts, Alan J. Auerbach, Laurence Kotlikoff

Cowles Foundation Discussion Papers

No abstract provided.

Robust And Asymptotically Efficient Estimation Of Location In A Stationary Strong Mixing Gaussian Parametric Model, Donald W.K. Andrews

Cowles Foundation Discussion Papers

This paper considers the problem of robust estimation of location in a model with stationary strong mixing Gaussian parametric distributions. An estimator is found that is within epsilon of being asymptotically efficient at the Gaussian parametric distribution and is within epsilon of being optimally robust! For the robustness results a Huber-type minimax criterion is used, where minimaxing takes place over neighborhoods of the parametric Gaussian distributions. The neighborhood system considered includes distributions of strong mixing processes and allows for deviations from the normal univariate parametric distributions within a Hellinger metric neighborhood, as well as deviations from stationarity and from the …

Revelation Of Information In Strategic Market Games: A Critique Of Rational Expectations, Pradeep Dubey, John Geanakoplos, Martin Shubik

Cowles Foundation Discussion Papers

No abstract provided.

High Technology Industrial Development In New Mexico, University Of New Mexico Bureau Of Business And Economic Research

BBER Publications

This report defines high-technology manufacturing and evaluates its growth parameters, locational requirements, and expansion potential within New Mexico. Prepared by the Bureau of Business and Economic Research at the University of New Mexico, the study tracks the state's comparative regional metrics, demonstrating that while New Mexico’s high-tech employment grows faster than the national average, it continues to lag behind neighboring states—thereby requiring targeted policy initiatives, technology spinoffs from national laboratories, and focused educational investments to remain competitive.

I'M All For Free Enterprise, But…, Murray L. Weidenbaum

Murray Weidenbaum Publications

Businesses and individuals are quick to support government cuts, but when the cuts affect their own industry, it's a different story. Weidenbaum stresses the importance of reducing the federal deficit, and budget cuts are essential to do this.

New Mexico Labor Market Review 10-29-1982, New Mexico Employment Security Department

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers September 1982.

Keynes, Kanz, John Maynard (1883-1946), Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Biography of John Maynard Keynes for the Encyclopedia Americana, approved by Minsky for publication, 18 October 1982.

Energy And Crop Production Economics, Donald C. Taylor

Economics Commentator (1972- 2016)

No abstract provided.

The Potential For Financial Crises, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Remarks prepared for a Conference on “The Future of the International Monetary System” Oct. 7-8, 1982.

Economics 120 - History Of Economic Thought, Anwar Shaikh Phd, Robert L. Heilbroner Phd

Archives of Anwar Shaikh

• Folder contains typewritten and handwritten notes for a course offered in Fall 1982.

• Includes lecture notes with numerous handwritten annotations.

• Features additional pages authored by teaching assistants Mark Lane and Elias Ayoub.

• Contains a copy of the paper: Schwartz, Pedro, and S. Hollander, “Teaching the History of Economic Thought: Report of a Symposium at Bristol, 1973,” History of Political Economy, Vol. 7, No. 1, pp. 112–122, 1977.

• At the end of the folder are pages from Fall 1982 including mid-term and final exam questions.

• Includes essay responses by Rebecca Kalman dated 1983.

Eco 234 Semmler Public Finance, Anwar Shaikh Phd, Willi Semmler Phd

Archives of Anwar Shaikh

• Collection includes a flyer for a teach-in titled "The Continuing Crises in Lebanon" dated November 21.

• Handwritten notes by Professor Willi Semmler on Marx and Ricardo.

• Notes on Federal Reserve monetary policy tools.

• Articles from Business Week, including one with “Can the Federal Reserve Control the Quantity of Money” circled (August 24, 1981).

• Handwritten lecture notes from the Public Finance class, Fall 1982.

• Class notes from Economics 235 with Professor Semmler, 1983.

• Chapter from The Quarterly Journal of Economics: Musgrave, R. A. (1939), "The Voluntary Exchange Theory of Public Economy," Vol. 53, Issue 2, p. 213.

• Final exam, …

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1982-83 Crop Price Outlook, Art Sogn

Economics Commentator (1972- 2016)

No abstract provided.

New Mexico Labor Market Review 09-30-1982, New Mexico Employment Security Department

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers August 1982.

Who Ought To Pay The South Dakota Tax Bill?, Mark A. Edelman

Economics Commentator (1972- 2016)

No abstract provided.