# Elsevier

# Economics Letters

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### 1982, Volume 10, Issue 3-4

**285-292 Small sample performance of the Stein-Rule in non-orthogonal designs***by*Hill, R. Carter & Ziemer, Rod F.**293-298 Small sample properties of the two-step and three-step estimators in a heteroscedastic linear regression model and the Bayesian alternative***by*Ohtani, Kazuhiro**299-303 Normal probability plots and the estimation of distribution tails***by*Theil, Henri & Kidwai, Sartaj A. & Yelle, Kathryn A.**305-308 The approximate distribution function of the Stein-rule estimator***by*Ullah, Aman**309-315 'Time-series' versus 'econometric' forecasts : A non-linear regression counterexample***by*Wallis, Kenneth F.**317-319 A regression model of the heteroscedastic error variance***by*Yoon, Bong Joon**321-326 Bond yield uncertainty and the demand for money : A comment***by*Allen, Stuart D. & Cooke, Shaw**327-332 Measuring the Fed's revenue from money creation***by*Barro, Robert J.**333-336 Market structure, cost of intermediation and profitability in commercial banking***by*Bonomo, Vittorio**337-342 The general role of factor intensity in the theorems of international trade***by*Ethier, Wilfred J.**343-348 The economic theory of clubs : Some clarifications***by*Berglas, Eitan & Helpman, Elhanan & Pines, David**349-354 Devaluation in a neo-Keynesian temporary equilibrium***by*Fender, John**355-361 Risk-aversion and the term structure of real interest rates***by*LeRoy, Stephen F.**363-367 On shareholder unanimity in the mean-variance model***by*Bester, Helmut**369-374 On adjusting for risk changes when assessing the profitability effects of regulatory changes***by*Spiller, Pablo T.**375-379 Efficient prizes in prototype development contests***by*Hartwick, John M.**381-384 A note on Solow's survival problem***by*Kemp, Murray C. & Van Long, Ngo**385-390 Optimal control of a multi-cohort fishery***by*Naqib, Fadle & Stollery, Kenneth**391-395 A general equilibrium approach to wage bargaining and employment***by*Chaudhuri, Tamal Datta

### 1982, Volume 10, Issue 1-2

**1-7 The network matching principle : A model of efficient resource allocation by informal social networks in non-profit and other non-market social structures***by*Boorman, Scott A. & Levitt, Paul R.**9-15 The impact of non-causality on non-cooperative strategies for dynamic games***by*Brandsma, Andries S. & Hallett, A. J. Hughes**17-21 Asymmetric price adjustment and information***by*Seidmann, Daniel J.**23-27 Capacity distributions derived from macro productions functions***by*Seierstad, Atle**29-34 Monopoly rationing and two-part tariffs***by*Shaffer, Sherrill**35-42 On consumer's surplus***by*Takayama, Akira**43-48 On the uniqueness of macroeconomic equilibria with quantity rationing***by*Bohm, Volker**49-54 Predetermined and non-predetermined variables in rational expectations models***by*Buiter, Willem H.**55-59 An alternative to steady-state comparisons in perfect foresight models***by*Judd, Kenneth L.**61-64 Population size and the social welfare functions of Bentham and Mill***by*Nerlove, Marc & Razin, Assaf & Sadka, Efraim**65-70 Hedging with price and output uncertainty***by*Losq, Etienne**71-76 Flexibility and the demand for risky assets***by*Machina, Mark J.**77-79 The interpretation of dummy variables in semilogarithmic equations : Unbiased estimation***by*Giles, David E. A.**81-85 A note on the estimation of dynamic regression models with autoregressive errors by means of the Cochrane-Orcutt procedure***by*Godfrey, L. G.**87-92 The oligopoly solution concept is identified***by*Bresnahan, Timothy F.**93-99 On identifying the degree of competitiveness from industry price and output data***by*Lau, Lawrence J.**101-105 Recoverability of intermediate production functions from disaggregated market data***by*Scheraga, Joel D.**107-113 Approximate variance formulas for the elasticities of substitution obtained from translog cost functions***by*Toevs, Alden L.**115-121 Tests of the rational expectations model of the term structure of U.K. interest rates***by*Attfield, C. L. F. & Duck, Nigel W.**123-128 The aggregation error in Divisia monetary aggregates : Some findings for the U.K. 1963-1980***by*Bailey, R. W. & Driscoll, M. J. & Ford, J. L. & Mullineux, A. W.**129-136 Aggregation, consumer preferences, and the pattern of trade***by*Horiba, Yutaka**137-143 Growth, relative prices, and exchange rates***by*Kimbrough, Kent P.**145-151 A note on dual input monopoly and tying***by*Blair, Roger D. & Kaserman, David L.**153-160 Modeling competitive rivalry using census data***by*Hirschey, Mark**161-165 Aggregation and studies of industrial profitability***by*Martin, Stephen & Ravenscraft, David J.**167-171 Competition, conduct and demand elasticity***by*Shaffer, Sherrill**173-178 Welfare effects of energy price decontrol***by*Dahl, Carol A.**179-184 Oil prices and the US economy***by*Burbidge, John & Harrison, Alan**185-191 A note on introducing a measure of worker attitude in cost function estimation***by*Norsworthy, J. R. & Zabala, C. A.**193-196 Transmission and distribution of wealth with a variable number of children***by*Crama, Yves & Pestieau, Pierre

### 1982, Volume 9, Issue 4

**301-304 On exploitation in a class of differentiable mixed markets***by*Shitovitz, Benyamin**305-310 Mergers and the sustainability of collusion in a Cournot-Nash supergame***by*Oliner, Stephen D.**311-314 Exact aggregation as a corollary of Richmond's theorem***by*Russell, Thomas**315-318 Democracy and dynamic welfare optima***by*Ginsburgh, Victor & Michel, Philippe**319-325 Auction market theory of heterogeneous bidders***by*Cox, James C. & Smith, Vernon L. & Walker, James M.**327-335 Unanticipated inflation and economic activity***by*Amihud, Yakov**337-344 Saving and inflation : Some international evidence***by*Koskela, Erkki & Viren, Matti**345-348 An adjustment to the likelihood ratio statistic when testing hypotheses in the multivariate linear model using large samples : A note***by*Attfield, C. L. F.**349-354 A non-separable generalisation of the linear expenditure system allowing non-linear Engel curves***by*Blundell, Richard & Ray, Ranjan**355-358 A note on the computation of inequality constrained least squares estimates***by*Schmidt, Peter & Thomson, Michael**359-364 Unconstrained maximum likelihood estimation of contemporaneous covariances***by*Schwallie, Daniel P.**365-369 The random walk hypothesis of the velocity of money : Some evidence from five EEC countries***by*Ahking, Francis W.**371-376 On the optimal taxation of two person households***by*Blundell, Richard W. & Walker, Ian**377-382 Exchange rate market efficiency and new information***by*Edwards, Sebastian**383-388 Partial wage indexation with real shocks***by*Danziger, Leif**389-395 Estimating utility consistent labour supply functions : Some results on pooled budget data***by*Ray, Ranjan

### 1982, Volume 9, Issue 3

**201-207 The existence of core allocations in a one sector model of capital accumulation***by*Becker, Robert A.**209-213 The finite basis property and exact aggregation***by*Heineke, J. M. & Shefrin, H. S.**215-219 A note on an intertemporal cost function for a class of dynamic problems***by*Vislie, Jon**221-227 The government behavioural constraint in rational expectations models***by*Nobay, A. R. & Peel, D. A.**229-233 The persistent effects of a change in government consumption***by*Thomas, J. P.**235-241 Markets and regulation under uncertainty***by*Yohe, Gary W.**243-249 Expected inflation and the optimal number of nominal wage rate revisions***by*Christofides, Louis N.**251-255 Random coefficient regression and the long-run phillips curve for the U.S***by*Abrams, Richard K. & Kniesner, Thomas J. & Rappoport, Paul N.**257-262 Inflation and relative prices : A decomposition analysis***by*Clements, Kenneth W. & Nguyen, Phuong**263-268 A new test for normality***by*Bera, Anil K.**269-274 The exact estimation of logit models by non-linear least squares***by*Breslaw, Jon & Irvine, Ian**275-279 A note on finite sample analysis of misspecification in simultaneous equation models***by*Knight, John L.**281-286 A program for algebraic and qualitative comparative statics and stability analysis***by*Huber, Gerard**287-293 A new measure of wage discrimination***by*Kapsalis, Constantine**295-299 Generalised cost scaling : A new approach to demographic variables in demand analysis***by*Ray, Ranjan

### 1982, Volume 9, Issue 2

**113-117 The equivalence of superadditivity and balancedness in the proportional tax game***by*Greenberg, Joseph & Weber, Shlomo**119-126 A note on the fundamental theorem of exact aggregation***by*Lau, Lawrence J.**127-132 Incentive compatibility in a market with indivisible goods***by*Roth, Alvin E.**133-137 Business cycles are alive and well***by*Hillinger, Claude**139-145 Long-run industry equilibrium with uncertainty***by*Appelbaum, Elie & Lim, Chin**147-151 Price uncertainty, economies of scale and the competitive firm***by*Thorlund-Petersen, Lars & Wickstrom, Bengt-Arne**153-160 Efficient specification tests for limited dependent variable models***by*Jarque, Carlos M. & Bera, Anil K.**161-167 Power function comparisons in inequality hypothesis testing***by*Yancey, Thomas A. & Bohrer, Robert & Judge, George G.**169-173 Additive values and market equilibrium***by*Borch, Karl**175-179 Simulating the revenue elasticity of an individual income tax***by*Hutton, John P. & Lambert, Peter J.**181-184 Interest rates, inflation, and taxes : The foreign connection***by*Howard, David H. & Johnson, Karen H.**185-190 Crawling peg and the variability of the real exchange rate***by*Yuravlivker, David E.**191-194 Dynamic monopoly production, inventory, and price policy under sophisticated demand***by*Arvan, Lanny**195-199 Limit pricing, conjectural variation and entry***by*Reynolds, Stan

### 1982, Volume 9, Issue 1

**1-6 Hotelling's spatial competition as a model of sales***by*Gal-or, Esther**7-15 Equilibrium in a simple price-location model***by*Kohlberg, Elon & Novshek, William**17-21 Monopoly rationing revisited***by*Shaffer, Sherrill**23-29 Non-parametric methods in demand analysis***by*Varian, Hal R.**31-35 Uncertainty and the partial loss offset provision***by*Eeckhoudt, Louis & Hansen, Pierre**37-42 The productivity crisis: Secular or cyclical?***by*Dickens, William T.**43-48 Divisia moments of Australian consumption***by*Clements, Kenneth W.**49-55 Framework for analysis of the instrument problem in monetary theory***by*Revankar, N. S. & Yoshino, N.**57-59 A simple proof of the latent root sensitivity formula***by*Phillips, P. C. B.**61-67 The information content of monetary aggregates in the U.K***by*Bailey, R. W. & Driscoll, M. J. & Ford, J. L. & Mullineux, A. W.**69-75 Disequilibrium dynamics with monetarist price expectations***by*Honkapohja, Seppo & Ito, Takatoshi**77-80 The effect of exchange trading of gold options on the volatility of the underlying asset***by*Tschoegl, Adrian E.**81-85 A simple method of estimating interest elasticities from survey data***by*Hawkins, John R.**87-93 The time profile of public expenditure growth in India: An emprical investigation***by*Nagarajan, P.**95-98 More on tariffs and non-traded goods***by*Clements, Kenneth W.**99-104 Inflation, its variability and consumption in selected Latin American countries***by*Gupta, Kanhaya L.**105-111 Uncertainty and the trade union***by*Oswald, Andrew J.

### 1981, Volume 8, Issue 4

**303-309 Unique non-boundary equilibria in the Morishima system***by*Hands, Douglas W.**311-313 An axiomatic characterization of skew-symmetric bilinear functionals, with applications to utility theory***by*Fishburn, P. C.**315-319 The number of preference preorderings***by*Kelly, Jerry S.**321-325 The signs of the co-state variables and sufficiency conditions in a class of optimal control problems***by*Leonard, Daniel**327-333 Systematic search, belated information, and the gittins' index***by*McCall, Brian P. & McCall, John J.**335-339 Should capitalists be taxed or subsidized in the long run?***by*Woodfield, Alan**341-347 Measuring the importance of stochastic control in the design of economic policies***by*Hughes Hallett, A. J.**349-354 Unemployment and the replacement ratio : Some reduced form estimates for the UK***by*Holden, K. & Peel, D. A.**355-360 Estimation of a system of linear dynamic asset demand equations : Computational considerations***by*Hunt, B. F.**361-365 Wald, likelihood ratio, and Lagrange multiplier tests as an F test***by*Vandaele, Walter**367-372 Testing the shift adjustment in the federal reserve's new shift adjusted M1-B***by*Johannes, James M.**373-377 Inter-market efficiency and the foreign exchange market***by*Selody, Jack G. & Rose, Andrew K.**379-384 A note on the international transmission of inflation : The impact of U.S. inflation on Mexico***by*Blejer, Mario I.**385-391 Consumer discrimination and the firm's demand for black labor***by*Borjas, George J.

### 1981, Volume 8, Issue 3

**201-207 Some empirical evidence on dynamic inconsistency***by*Thaler, Richard**209-216 Arrow-Debreu preferences and the reopening of contingent claims markets***by*Donaldson, John B. & Selden, Larry**217-220 Cournot equilibrium in large markets under increasing returns***by*Fraysse, J. & Moreaux, M.**221-226 A note on global Hicksian stability conditions***by*Hands, Douglas W.**227-233 The aggregate production function of an industry with generalized-Leontief cost functions at the micro level***by*Vohra, Rajiv**235-238 Recursions for instrumental variables estimators***by*Giles, David E. A.**239-245 A generalized specification test***by*Hausman, Jerry A. & Taylor, William E.**247-253 A portfolio model estimator***by*Lim, G. C.**255-260 A note on Wiener-Kolmogorov prediction formulas for rational expectations models***by*Hansen, Lars Peter & Sargent, Thomas J.**261-266 Elasticity rules for the expenditure effects of matching grants : The case of goods with user charges***by*Gibson, J. G.**267-274 Covered interest arbitrage in the 1970's***by*Frenkel, Jacob A. & Levich, Richard M.**275-280 On optimal unemployment***by*Fitzroy, Felix**281-286 Variation of wage rates with size of establishment***by*Miller, Edward**287-291 Do relative price changes affect the general equivalence scale?***by*Ray, Ranjan**293-299 Rising marginal cost and concavity of the production function***by*Marino, Anthony M. & Otani, Yoshihiko & Sicilian, Joseph

### 1981, Volume 8, Issue 2

**101-105 Further evidence on asymptotic tests for homogeneity and symmetry in large demand systems***by*Bera, A. K. & Byron, R. P. & Jarque, C. M.**107-112 Incomplete insurance and absolute risk aversion***by*Imai, Haruo & Geanakoplos, John & Ito, Takatoshi**113-119 A note on the interpretation of the Cox procedure for non-nested hypotheses***by*Dastoor, Naorayex K.**121-127 Exact sampling distribution of the omitted variable estimator***by*Kinal, Terrence & Lahiri, Kajal**129-133 A characterization of Granger-Sims exogeneity***by*Khon, R.**135-140 Posterior odds analysis when all competing models are false***by*Poirier, Dale J.**141-145 A more general class of biased estimators of the co-efficients in linear regression***by*Rashid, Muhammad**147-152 Another look at the maximum entropy correlation coefficient***by*Theil, Henri & Kidwai, Sartaj A.**153-157 The maximum entropy median in the presence of an outlier***by*Theil, Henri & Kidwai, Sartaj A. & Yalnizolu, Murat A.**159-162 Marginal and conditional probabilities of excess demand***by*Burkett, John P.**163-168 Estimation of demand and supply functions from univariate sample with known separation***by*Charemza, Wojciech & Domsta, Joachim**169-175 The incidence of tariffs : Simulation results***by*Clements, Kenneth W. & Izan, H. Y.**177-180 Welfare implications of growth under quotas***by*Shahid Alam, M.**181-186 On employment, wage and risk sharing in labor contracts***by*Danziger, Leif**187-192 Monitoring cost, disutility of effort and the forcing employment contract***by*Liu, Pak-wai**193-199 An empirical analysis of rural-urban migration in less developed economies***by*Nabi, Ijaz

### 1981, Volume 8, Issue 1

**1-6 Probabilities proportional to time-state prices***by*Boohren, Oyvind & Ekern, Steinar**7-12 Residential land use : The continous case***by*Ruiz-Castillo, Javier**13-17 On the rate of convergence of oligopoly equilibria in large markets : An example***by*Dasgupta, Partha & Ushio, Yoshiaki**19-27 Rational rationing and increasing returns an example***by*Heal, Geoffrey**29-33 A note on multiproduct economies of scale and economies of scope***by*Mintz, Jack M.**35-37 Shadow prices in intertemporal plans under constant returns to scale***by*Rose, Hugh**39-45 Hotelling's competition with general customer distributions***by*Shilony, Yuval**47-51 Insurance as a Giffen good***by*Hoy, Michael & Robson, Arthur J.**53-57 When are two-stage and three-stage least squares estimators identical?***by*Kapteyn, Arie & Fiebig, Denzil G.**59-61 Simulation evidence on the ridge and the shrinkage of the maximum entropy variance***by*Kidwai, Sartaj A. & Theil, Henri**63-65 Stock and flow sampling***by*Lancaster, Tony & Chesher, Andrew**67-72 The positive maximum entropy distribution***by*Theil, Henri & Lightburn, Richard O.**73-77 Efficient estimation of tail-area probabilities in sampling experiments***by*Davidson, Russell & MacKinnon, James G.**79-87 An example of multiple minima in a Cochrane-Orcutt procedure with multiple autocorrelation***by*Lafrance, Robert & Belanger, Michel**89-93 The golden rule and the Ramsey rule at a second best solution***by*Ihori, Toshihiro**95-99 Progression under the benefit approach to the theory of taxation***by*Kovenock, Daniel & Sadka, Efraim

### 1981, Volume 7, Issue 4

**301-305 Social choice and merit goods***by*Baigent, Nick**307-311 The permanent income hypothesis and the real interest rate***by*Mankiw, N. Gregory**313-318 Efficient tests for normality, homoscedasticity and serial independence of regression residuals : Monte Carlo Evidence***by*Bera, Anil K. & Jarque, Carlos M.**319-322 Loss of efficiency in regression analysis due to irrelevant variables : A generalization***by*Fomby, Thomas B.**323-326 Testing for parameter stability in structural econometric relationships***by*Giles, David E. A.**327-333 Sampling properties of an inequality restricted estimator***by*Judge, George G. & Yancey, Thomas A.**335-338 A small sample test for non-nested regression models***by*McAleer, Michael**339-342 A maximum entropy approach to the specification of distributed lags***by*Theil, Henri & Fiebig, Denzil**343-347 On estimating a consumption function when incomes are subject to measurement errors***by*Ketellapper, Ronald H.**349-353 Moments of the maximum entropy and the symmetric maximum entropy distribution***by*Theil, Henri & Kidwai, Sartaj A.**355-361 Aggregation over individuals to disguise identities but still preserve essential information***by*Spindt, Paul A.**363-369 The linkage of stock exchange markets between countries : An Empirical Study of Share Price Co-movements in Eleven Industrial Countries***by*Fase, M. M. G.**371-378 Gorman and Musgrave are dual : An Antipodean theorem on public goods***by*Bergstrom, Theodore C. & Cornes, Richard C.**379-383 The interdependence of U.S. and foreign inflations***by*Felmingham, B. S.**385-390 Dualism and the determinants of upward intersegmental mobility in Malaysia***by*Lee, Kiong-Hock**391-397 Weighting income ranks and levels : A Multiple-Parameter Generalization For Absolute and Relative Inequality Indices***by*Berrebi, Z. M. & Silber, Jacques

### 1981, Volume 7, Issue 3

**201-205 Consumption-loan type models the Samuelson case***by*Zilcha, Itzhak**207-210 Consistent planning with changing tastes***by*Hadar, Josef & Kun Seo, Tae**211-214 The macro production function uniquely determines the capacity distribution of the micro units***by*Seierstad, Atle**215-219 Elasticities of substitution for a regulated cost function***by*Smith, V. Kerry**221-225 On the prevention of manipulation via endowments***by*Rothschild, R.**227-232 A class of monotone economies in which rational expectations equilibria exist but prices do not reveal all information***by*Allen, Beth**233-236 A note on an alternative derivation of the likelihood of an autoregressive moving average process***by*Kohn, R.**237-241 A flexible functional form for S-curve***by*Raj, Baldev & Keller, Gerald**243-247 Identification of dependent probit models : A simplified approach***by*Winston, Clifford**249-255 Testing multiple equality and inequality hypothesis in economics***by*Yancey, T. A. & Judge, G. G. & Bock, M. E.**257-264 Symmetric versus asymmetric interest rate adjustment mechanisms : The prime rate, below-prime lending and the commercial paper rate***by*Hadjimichalakis, Karma G.**265-271 Budget share and optimal commodity taxes without computation***by*Balcer, Yves & Sadka, Efraim

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