摘要:

A rational expectations model is developed in which prices are fixed during a period. The implications of this model are that output fluctuations are correlated with unanticipated aggregate demand but not with unanticipated inflation. Empirical tests of the model indicate that the persistence of business cycles cannot be explained solely by unanticipated aggregate demand.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1979.tb00292.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

摘要:

We use the approach of R. Thom's “Catastrophe Theory” to construct a generalization of Kaldor's 1940 trade cycle. The model allows for cyclic behavior which exhibits either rapid recoveries (recessions) or slow recoveries (depressio

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1979.tb00293.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

摘要:

This paper analyzes the determinants of female participation in criminal activities through the use of an economic model of crime. The model is tested empirically on 1970 state data on female arrests and the results are generally consistent with the theoretical predictions. The major findings are that the probability of arrest and the probability of conviction have significant deterrent effects on female property crime, the labor force participation rate of married women has no effect and the average number of preschool children in husband‐wife families has a negative and significant effect. The decrease in the average number of preschool children per husband‐wife family that took place between 1960 and 1970 is shown to have accounted for more than half of the increase in female property crime that occurred during that dec

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1979.tb00294.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

摘要:

This paper reviews four consumer maximization models where the probability of premature death enters as a variable that is both known to the consumer and under his control. These models generate a number of interesting results with respect to a person's willingness to pay for an increased chance of living. The most useful to the cost‐benefit analyst is the derived relationship between this willingness‐to‐pay value and a person's lifetime earnings, and thus the relationship between the theoretically correct willingness‐to‐pay approach to the valuation of life‐saving programs and the widely‐used human‐capital approach. However, the conclusions of the reviewed models are in this regard conflicting. Two of the models establish a theoretical basis for investigating the correlation of these two measures; however, this basis is shown to follow from an unrealistic assumption concerning the person's lifetime utility function. The remaining two models, although based upon more realistic assumptions, do not claim to provide theoretical grounds for making such investigations. The conclusion of this review is that in the absence of available data on personal demand for increased survival probability it is impossible to determine the relationship between the willingness‐to‐pay and the human‐capital approaches to placing

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1979.tb00295.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

摘要:

This paper analyzes a model of consumer behavior where transaction risk in the form of a divergence between bid and executed demand is incorporated into the consumer's decision process. A neutral assumption concerning risk preferences, combined with income and expenditure constraints, is shown to be sufficient to generate behavior commonly associated with risk aversion. Such responses to transaction risk are referred to as objective reactions as opposed to subjective attitudes toward risk. The income effect is shown to play an important role in determining behavioral reactions to this type of risk.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1979.tb00296.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

摘要:

This paper presents a university enrollment forecasting model and evaluates the model's performance in a case application. The model includes (1) enrollment demand equations with both tuition and labor market variables; (2) equations to forecast values of the labor market variables which influence demand; and (3) procedures to calculate the statistical confidence interval in an enrollment forecast.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1979.tb00297.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

摘要:

This paper examines the financial effects of centralized control on the capital‐stock decision of the subsidiaries of a multinational enterprise. The approach adopted involves comparing the optimal capital stock of a firm before and after it has merged with another firm located in a different country. Using this method, it is shown that the analysis breaks down into a number of special case

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1979.tb00298.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1979.tb00299.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1979.tb00300.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1979.tb00301.x

出版商:Blackwell Publishing Ltd    

年代:1979

数据来源: WILEY