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Full-Text Articles in Macroeconomics

Tariff For Revenue, Hyman P. Minsky Ph.D. Jul 1995

Tariff For Revenue, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

A shorter form of this is also attached.


Estimating Trend Stationary Models Of Homogeneously Generated Samples, Barry Falk Jul 1995

Estimating Trend Stationary Models Of Homogeneously Generated Samples, Barry Falk

Economic Staff Paper Series

Sims (1991) conjectured that the conditional maximum likelihood estimator of trend stationary models of macroeconomic time series will tend to place initial observations relatively far from the estimated trend line. This can be misleading if the entire sample has been generated by the same data generating process and there is nothing unusual about the initial observations. We use the extended Nelson Plosser data set to evaluate Sims's conjecture. We consider the weighted symmetric estimator developed by Park and Fuller (1993) as an alternative approach to this estimation problem.


The Employment System, Social Security And Structure Of Household Savings, Hyman P. Minsky Ph.D. Jun 1995

The Employment System, Social Security And Structure Of Household Savings, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

No abstract provided.


A Comparison Of Ols And Ws Unit Root Test Results, Barry Falk Jun 1995

A Comparison Of Ols And Ws Unit Root Test Results, Barry Falk

Economic Staff Paper Series

OLS-based unit root tests (e.g., Dickey-Fuller, Augmented DickeyFuller, and PhiHips-Perron tests) typically fail to reject the unit root null at conventional significance levels when applied to macroeconomic time series data. This has stimulated a large amount of research regarding the applied and theoretical econometric implications of unit root processes. However, these tests are known to have low power against trend stationary and near-unit-root alternatives, the leading alternative data generating processes for these data. Recently, Pantula, GonzalezFarias, and Fuller (1994) proposed a unit root test based upon the weighted-symmetric estimator of an autoregressive model developed by Park and Fuller (1993 ...


Financial Factors In The Economics Of Capitalism, Hyman P. Minsky Ph.D. Apr 1995

Financial Factors In The Economics Of Capitalism, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Journal of Financial Services Research, Vol 9, No. 3-4, 197-208.


Sources Of Financial Fragility: Financial Factors In The Economics Of Capitalism, Hyman P. Minsky Ph.D. Mar 1995

Sources Of Financial Fragility: Financial Factors In The Economics Of Capitalism, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Originally, paper prepared for the conference, "Coping with Financial Fragility: A Global Perspective," 7-9 September 1994, Maasdricht. (sic)

Also included are handwritten and word processed pages showing original drafts of the paper.


The American Economy In 1994: Awaiting A New Policy Paradigm, Hyman P. Minsky Ph.D. Mar 1995

The American Economy In 1994: Awaiting A New Policy Paradigm, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

An outline for a possible paper.


Would Repeal Of The Glass Steagall Act Benefit The Us Economy, Hyman P. Minsky Ph.D. Mar 1995

Would Repeal Of The Glass Steagall Act Benefit The Us Economy, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Statement prepared for Hearing on Repeal of the Glass-Steagall Act. Committee on Banking and Financial Services, United States House of Representatives, Washington, DC,


Reforming Banking In 1995: Repeal Of The Glass Steagall Act, Some Basic Issues, Hyman P. Minsky Ph.D. Mar 1995

Reforming Banking In 1995: Repeal Of The Glass Steagall Act, Some Basic Issues, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

No abstract provided.


Would Universal Banking Benefit The U.S. Economy?, Hyman P. Minsky Ph.D. Feb 1995

Would Universal Banking Benefit The U.S. Economy?, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Paper prepared for Session 8 of the Conference on Universal Banking held at the Salomon Center, Stern School of Business, New York University. There is also an earlier draft of the paper as well as a reworking of it dated 5 April 1995.


Forward: Political Economy For The Next Century, Hyman P. Minsky Ph.D. Feb 1995

Forward: Political Economy For The Next Century, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

No abstract provided.


The Balanced Budget Amendment: A Time Bomb To Subvert American Prosperity, Hyman P. Minsky Ph.D. Feb 1995

The Balanced Budget Amendment: A Time Bomb To Subvert American Prosperity, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Paper dated Feb. 13, 1995.

Summary of a Report: ’A Time Bomb to Subvert American Prosperity’.


Keynes, In The End Of Laissez-Faire..., Hyman P. Minsky Ph.D. Jan 1995

Keynes, In The End Of Laissez-Faire..., Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Fragment of Minsky's work on Keynes.


Philosophy, Rationality And Argumentation (Libro: Filosofía, Racionalidad Y Argumentación) Spanish, Fernando Estrada Jan 1995

Philosophy, Rationality And Argumentation (Libro: Filosofía, Racionalidad Y Argumentación) Spanish, Fernando Estrada

Fernando Estrada

My interest is to understand the problems with some careful handling of the issues, I believe, relevant. Aristotle, Sophocles, Descartes, Hobbes, Kant, Foucault, Popper and other thinkers, are analyzed in their own texts, or in other cases of individual straight to interpret the problems they posed. It is "the freedom the individual, "" democracy "," body "," man, "language" "Ethics," "rationality," "the argumentacin" etc.. For the reader is book support, a resource for which he is challenged to read reseados texts, a letter with ways to analyze in different directions to locate each one that cause you most concern


A Positive Program For Successful Capitalism, Hyman P. Minsky Ph.D. Jan 1995

A Positive Program For Successful Capitalism, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

An abridged version is also attached.


Book Review: The Poverty Of Welfare Reform, Hyman P. Minsky Ph.D. Jan 1995

Book Review: The Poverty Of Welfare Reform, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Book review: The Poverty of Welfare Reform. By Joel F. Handler. New Have, Ct: Yale University Press, 1995.


Outline Of An Article About Keynes For Davidson, Hyman P. Minsky Ph.D. Jan 1995

Outline Of An Article About Keynes For Davidson, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

undated.

The first page is shown both with and without a post-it note that is attached.


Evaluating Mccallum's Rule For Monetary Policy, Dean D. Croushore, Tom Stark Jan 1995

Evaluating Mccallum's Rule For Monetary Policy, Dean D. Croushore, Tom Stark

Economics Faculty Publications

Some economists have proposed that the Federal Reserve follow a rigid rule for conducting monetary policy. A policy rule is a formula that tells the Fed how to set monetary policy. For example, in 1959 Milton Friedman argued that the Fed should increase the money supply a constant 4 percent each year to eliminate inflation and avoid destabilizing the economy. More recently, other economists have identified an additional benefit: a rule can eliminate the inflationary bias that could occur when discretionary monetary policy is used. Under a discretionary policy, decisions are made on a case-by-case basis.

But economists don't ...


Key Issues In The Reform Of Central Bank Legislation, Warren Coats, Henry Schiffman Dec 1994

Key Issues In The Reform Of Central Bank Legislation, Warren Coats, Henry Schiffman

Warren Coats

In order to improve the performance of central banks, monetary arrangements should be designed to anchor monetary policy to long-run considerations and to establish specific accountability for its implementation. In order to strengthen the long-run view needed for monetary stability against the short-run problem solving perspective more typical of governments and parliaments, there has been a growing movement in recent years in all regions of the world toward increasing central banks' independence from governments and parliaments. In all countries, the responsibility for the monetary system is ultimately the state’s. This responsibility is often explicit in a country's constitution ...