发布求助
文献互助 智能选刊 最新文献

The Manchester school of economic and social studies最新文献

筛选
英文 中文
Linear-Quadratic Solution Methods to Non-linear Stochastic Models: A Note 非线性随机模型的线性二次解方法:注
The Manchester school of economic and social studies Pub Date : 1998-01-01 DOI: 10.1111/1467-9957.00092
M. Roche
{"title":"Linear-Quadratic Solution Methods to Non-linear Stochastic Models: A Note","authors":"M. Roche","doi":"10.1111/1467-9957.00092","DOIUrl":"https://doi.org/10.1111/1467-9957.00092","url":null,"abstract":"Linear-quadratic solution methods to nonlinear stochastic rational-expectations models are described and compared. A closed economy real business cycle model is used as an illustration. The author's results show that all methods yield identical coefficients in the optimal decision rules. However, when solving other models some methods require only a few modifications to existing computer programs. Copyright 1998 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"144 1","pages":"118-127"},"PeriodicalIF":0.0,"publicationDate":"1998-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80432267","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Effects of Futures Trading on the Spot Market Bid-Ask Spread 期货交易对现货市场买卖价差的影响
The Manchester school of economic and social studies Pub Date : 1998-01-01 DOI: 10.1111/1467-9957.00090
Silvia Gerber, P. Simmons
{"title":"Effects of Futures Trading on the Spot Market Bid-Ask Spread","authors":"Silvia Gerber, P. Simmons","doi":"10.1111/1467-9957.00090","DOIUrl":"https://doi.org/10.1111/1467-9957.00090","url":null,"abstract":"This paper analyzes how the presence of a futures market gives risk averse dealers in the spot asset opportunities for arbitrage that reduces the spot market bid-ask spread through reducing the dealers risk exposure. In particular, if the spot and futures risks are perfectly correlated then the spot bid-ask spread is zero in equilibrium and all spot dealer risk can be diversified away. The paper also analyzes the equilibrium futures price in this two market scenario. Copyright 1998 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"67 1","pages":"87-99"},"PeriodicalIF":0.0,"publicationDate":"1998-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85863929","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Means-Tested versus Universal Transfers: Alternative Models and Value Judgements 经济状况调查与普遍转移:替代模型和价值判断
The Manchester school of economic and social studies Pub Date : 1998-01-01 DOI: 10.1111/1467-9957.00091
J. Creedy
{"title":"Means-Tested versus Universal Transfers: Alternative Models and Value Judgements","authors":"J. Creedy","doi":"10.1111/1467-9957.00091","DOIUrl":"https://doi.org/10.1111/1467-9957.00091","url":null,"abstract":"This paper illustrates the use of different criteria used to evaluate alternative tax and transfer systems. Means-tested and universal transfer systems are compared, using numerical examples involving a small number of individuals, in order to highlight the precise effects on incomes. The implications of fixed incomes and of endogenous incomes, using CES utility functions, are examined. Comparisons between tax systems involve fundamental value judgements concerning inequality and poverty, and no tax structure can be regarded as unambiguously superior to another. Judgements depend on the degree of inequality aversion and attitudes poverty. However, in cases where means-testing is preferred, the desired tax or taper rate applying to benefits is substantially less than 100 percent. Copyright 1998 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"68 1","pages":"100-117"},"PeriodicalIF":0.0,"publicationDate":"1998-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89510309","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 12
Graphical Methods for Investigating the Size and Power of Hypothesis Tests 调查假设检验的大小和威力的图形方法
The Manchester school of economic and social studies Pub Date : 1998-01-01 DOI: 10.1111/1467-9957.00086
R. Davidson, J. MacKinnon
{"title":"Graphical Methods for Investigating the Size and Power of Hypothesis Tests","authors":"R. Davidson, J. MacKinnon","doi":"10.1111/1467-9957.00086","DOIUrl":"https://doi.org/10.1111/1467-9957.00086","url":null,"abstract":"Simple techniques for the graphical display of simulation evidence concerning the size and power of hypothesis tests are developed and illustrated. Three types of figures--called P value plots, P value discrepancy plots, and size-power curves--are discussed. Some Monte Carlo experiments on the properties of alternative forms of the information matrix test for linear regression models and probit models are used to illustrate these figures. Tests based on the outer-product-of-the-gradient regression generally perform much worse in terms of both size and power than efficient score tests. Copyright 1998 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"5 1","pages":"1-26"},"PeriodicalIF":0.0,"publicationDate":"1998-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88966465","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 299
Exchange Rate Misalignments and Adjustments: Implications for Floating and Fixed Parity Systems 汇率失调和调整:对浮动和固定汇率制度的影响
The Manchester school of economic and social studies Pub Date : 1998-01-01 DOI: 10.1111/1467-9957.00088
S. Parker
{"title":"Exchange Rate Misalignments and Adjustments: Implications for Floating and Fixed Parity Systems","authors":"S. Parker","doi":"10.1111/1467-9957.00088","DOIUrl":"https://doi.org/10.1111/1467-9957.00088","url":null,"abstract":"We present a microeconomic efficiency cost framework for discriminating between fixed and floating exchange rate systems, and illustrate it with UK data over 1975–90. It is found that a fixed parity system would have been unambiguously preferred to a floating system over this period, unless the parity were set sufficiently non-centrally or costs from persistent currency overvaluation were sufficiently high. Under no circumstances could a floating parity have been unambiguously preferred to a fixed parity system.","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"58 1","pages":"44-58"},"PeriodicalIF":0.0,"publicationDate":"1998-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80887213","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
The Essence of the Modern Corporation Markets, Strategic Decision-Making and the Theory of the Firm 现代企业市场的本质、战略决策与企业理论
The Manchester school of economic and social studies Pub Date : 1998-01-01 DOI: 10.1111/1467-9957.00089
K. Cowling, R. Sugden
{"title":"The Essence of the Modern Corporation Markets, Strategic Decision-Making and the Theory of the Firm","authors":"K. Cowling, R. Sugden","doi":"10.1111/1467-9957.00089","DOIUrl":"https://doi.org/10.1111/1467-9957.00089","url":null,"abstract":"Following Coase's fundamental concern with planning, this paper highlights strategic decision making as important for distinguishing the essence of the modern large corporation. It is consistent with industrial organization analysis of industries yet provides a novel starting point for the theory of the firm. The authors suggest different boundaries to the organization compared to those identified elsewhere and, whereas others peering into the black box of Walrasian theory merely see more of what is on the outside, they see transactions within and without the firm as fundamentally different. The analysis recognizes Pareto inefficiencies but concludes with an optimistic vision for economic policy. Copyright 1998 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"53 1","pages":"59-86"},"PeriodicalIF":0.0,"publicationDate":"1998-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85676855","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 174
The Evolution of U.K. Self‐Employment: A Study of Government Policy and the Role of the Macroeconomy 英国个体就业的演变:政府政策与宏观经济作用的研究
The Manchester school of economic and social studies Pub Date : 1997-09-01 DOI: 10.1111/1467-9957.00073
M. Cowling, P. Mitchell
{"title":"The Evolution of U.K. Self‐Employment: A Study of Government Policy and the Role of the Macroeconomy","authors":"M. Cowling, P. Mitchell","doi":"10.1111/1467-9957.00073","DOIUrl":"https://doi.org/10.1111/1467-9957.00073","url":null,"abstract":"This paper reports the findings of a time-series analysis exploring the fundamental determinants of the substantial rise in UK self-employment over the period 1972-92. The key findings are that the self-employed/wage employed income differential has a high and positive effect upon the proportion of the workforce in self-employment, supporting alternative wage theories of labor market status, as does housing wealth, supporting credit rationing theories. Perhaps the most interesting feature concerns the relationship between unemployment and self-employment. On this the authors find that it is the duration structure of unemployment that matters not simply the stock of unemployed people. This evidence may imply that self-employment is a last resort for certain individuals marginalized in the employed sector and facing lengthy spells of unemployment. Copyright 1997 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"208 ","pages":"427-442"},"PeriodicalIF":0.0,"publicationDate":"1997-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1467-9957.00073","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72543563","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 137
Decentralized Fiscal Policy in an Imperfectly Competitive Federal Economy 不完全竞争联邦经济中的分权财政政策
The Manchester school of economic and social studies Pub Date : 1997-09-01 DOI: 10.1111/1467-9957.00069
Marta Aloi, M. Santoni
{"title":"Decentralized Fiscal Policy in an Imperfectly Competitive Federal Economy","authors":"Marta Aloi, M. Santoni","doi":"10.1111/1467-9957.00069","DOIUrl":"https://doi.org/10.1111/1467-9957.00069","url":null,"abstract":"This paper analyzes the efficacy and desirability of decentralized fiscal policies, in a two-region federal economy, with monopolistic competition in local product markets, unionized local labor markets, and a nationwide competitive sector. Local governments are utilitarian and use balanced-budget policies to provide public goods in their own region. They also may be subjected to constitutional limits to public spending, taking the form of cash-planning. In this case, unilateral fiscal policies increase price and possible wage mark-ups, yielding crowding out and employment losses in the other region. Uncoordinated local policies lead to overexpansion. The central government should intervene to encourage coordination. Copyright 1997 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"35 1","pages":"353-378"},"PeriodicalIF":0.0,"publicationDate":"1997-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73444623","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Inheritance, Steady-State Consumption Inequality, and the Lifetime Earnings Process 继承、稳态消费不平等和终身收入过程
The Manchester school of economic and social studies Pub Date : 1997-09-01 DOI: 10.1111/1467-9957.00076
M. Wilhelm
{"title":"Inheritance, Steady-State Consumption Inequality, and the Lifetime Earnings Process","authors":"M. Wilhelm","doi":"10.1111/1467-9957.00076","DOIUrl":"https://doi.org/10.1111/1467-9957.00076","url":null,"abstract":"This paper presents a tractable model where the effect of inheritance on steady-state consumption inequality can be derived under both linear and piecewise linear bequest functions. As has been found in previous research, the linear bequest function yields inheritances which reduce consumption inequality regardless of the model's parameters. However, in the piecewise linear model, whether inheritances increase or reduce steady-state consumption inequality depends on the magnitude of the marginal propensity to bequeath, the amount of earnings inequality, and the degree of intergenerational earnings mobility. Copyright 1997 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"9 1","pages":"466-476"},"PeriodicalIF":0.0,"publicationDate":"1997-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75485563","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 9
Profit‐Rate Equalization in the Kalecki–Steindl Model and the “Over‐Determination” Problem Kalecki-Steindl模型中的利润率均衡和“过度决定”问题
The Manchester school of economic and social studies Pub Date : 1997-09-01 DOI: 10.1111/1467-9957.00074
A. Dutt
{"title":"Profit‐Rate Equalization in the Kalecki–Steindl Model and the “Over‐Determination” Problem","authors":"A. Dutt","doi":"10.1111/1467-9957.00074","DOIUrl":"https://doi.org/10.1111/1467-9957.00074","url":null,"abstract":"This note points out that the 'overdetermination' problem discovered by M.-S. Park in Kalecki-Steindl (KS) models is not a problem intrinsic to KS models and can easily be removed if one introduces a mechanism involving classical competition into them. The solution to the problem suggested by Park using a moving average interpretation is, therefore, unnecessary and it also does not provide an adequate solution to the overdetermination problem. However, the interpretation does serve to clarify the meaning of long-run equilibria in KS models. Copyright 1997 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"43 1","pages":"443-451"},"PeriodicalIF":0.0,"publicationDate":"1997-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74008932","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 24
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信