# Elsevier

# Economics Letters

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### 1986, Volume 20, Issue 1

**23-27 The relationship between interest rates and inflation during the prewar period : Some empirical evidence***by*Viren, Matti**29-32 Testing for parameter stability in a regression model with ar(1) errors***by*Cadsby, Charles Bram & Stengos, Thanasis**33-37 The use of prior regressions in the estimation of error correction models***by*Hall, S. G. & Brooks, S. J.**39-43 Some useful equivalence properties of Hausman's test***by*Holly, Alberto & Monfort, Alain**45-47 Moments of ordered bivariate log-normal distributions***by*Lien, Da-Hsiang Donald**49-51 Predicted and actual frequencies in binomial response models***by*Lien, Da-Hsiang Donald**53-54 Some evidence on the power of Monte Carlo tests in systems of equations***by*Shonkwiler, J. S. & Theil, Henri**55-57 Monte Carlo and bootstrap testing of demand homogeneity***by*Taylor, Timothy G. & Shonkwiler, J. S. & Theil, Henri**59-61 The continuous selection theorem in n : A proof by induction***by*Leininger, Wolfgang**63-66 The velocity of money and the random walk hypothesis***by*MacDonald, R. & Peel, D. A.**67-70 How effective is potential competition?***by*Farrell, Joseph**71-74 Standardization and variety***by*Farrell, Joseph & Saloner, Garth**75-78 Dynamic collusion in an open economy***by*Haubrich, Joseph G. & Lambson, Val Eugene**79-82 Industrial sector fuel price elasticities following the first and second major oil price shocks***by*Hall, V. B.**83-87 Efficiency and sharing of investment in specific human capital under risk aversion***by*Lam, Kit-Chun & Liu, Pak-Wai**89-94 An axiomatic basis for the three objective social welfare function within a poverty context***by*Brent, Robert J.**95-99 Measuring equivalence scales : A new system-wide method***by*Van Hoa, Tran

### 1985, Volume 19, Issue 4

**303-306 Owner-consumers and efficiency***by*Farrell, Joseph**307-309 On Weitzman's 'recession resistant' employee compensation arrangements***by*Moene, Karl O. & Ognedal, Tone**311-314 A note on capital markets and bankruptcy constraints in contracting***by*Lockwood, B. & Manning, A.**315-317 A small-sample correction for the likelihood ratio test***by*Italianer, Alexander**319-321 Incorporating contemporaneous residual relationships : A new approach***by*Jalilvand, Abolhassan & Kryzanowski, Lawrence**323-325 A Hausman test with trending data***by*Kramer, Walter**327-330 A size-corrected Wald test for Slutsky symmetry in systems of demand equations***by*Taylor, Timothy G. & Shonkwiler, J. S.**331-332 A Monte Carlo test of Slutsky symmetry***by*Theil, Henri & Shonkwiler, J. S. & Taylor, Timothy G.**333-337 An alternative to the box-cox transformation in model discrimination***by*Yoon, Bong Joon**339-342 Using bootstrap to obtain standard errors of system tobit coefficients***by*Flood, Lennart**343-347 An even simpler differential demand system***by*Selvanathan, E. Antony**349-353 Saving out of different income categories in Greece***by*Vavouras, Ioannis S.**355-358 On calculating the optimal commodity tax rate : An alternative to social welfare maximisation***by*Ray, Ranjan**359-361 Import-export elasticities and exchange rate dynamics***by*Chen, Chau-nan & Lai, Ching-chong**363-367 Currency substitution and economic monetary aggregates : The U.S. Case***by*Marquez, Jaime**369-372 Trade reform, aggregate investment and capital flight : On credibility and the value of information***by*Van Wijnbergen, Sweder**373-376 Multiple partial adjustment of portfolios under rational expectations***by*Neusser, Klaus**377-380 Index bonds : An empirical examination using the CAPM***by*Yagil, Joseph**381-385 Wage aggregation in labor market models***by*Vroman, Susan**387-390 Monopoly unions versus efficient bargaining with free entry***by*Strand, Jon**391-394 Human capital and voluntary unemployment***by*Ellis, Christopher J.**395-397 Imperfect capital markets in empirical life-cycle models***by*Browning, Martin & Leslie Robb, A.

### 1985, Volume 19, Issue 3

**205-210 Equilibrium and quasi-equilibrium existence theorems for a general model without ordered preferences***by*Barbolla, Rosa**211-215 Calibration in applied general equilibrium modelling : The case of rationed households***by*Cornielje, O. J. C.**217-219 Social decisions and public investment***by*Borch, Karl**221-225 Investment in information acquisition***by*Danthine, Jean-Pierre & Magill, Michael J. P.**227-229 Bounded complexity justifies cooperation in the finitely repeated prisoners' dilemma***by*Neyman, Abraham**231-235 A note on enough money in a strategic market game with complete or fewer markets***by*Shubik, Martin**237-241 The monetarist versus the neo-Keynesian views on inflation : Some Italian evidence***by*Darrat, Ali F.**243-247 Moments of truncated bivariate log-normal distributions***by*Lien, Da-Hsiang Donald**249-252 A note on a posterior approximation in a heteroscedastic model***by*Surekha, K. & Griffiths, W. E.**253-256 Some information on the sampling performance of Stein's new estimator***by*Judge, G. G. & Miyazaki, S. & Yancey, T. A.**257-260 Why do expectations models of the term structure fail?***by*Murphy, Robert G.**261-265 Multinational involvement and risk***by*Hirschey, Mark**267-270 Overshooting in the foreign exchange market : Evidence from the 1970s***by*Doukas, John & Melhem, Melhem**271-275 Two estimators for the apt model when factors are measured***by*McElroy, Marjorie B. & Burmeister, Edwin & Wall, Kent D.**277-279 Absenteeism and wages***by*Weiss, Andrew**281-285 Earnings functions : Testing for the demand side***by*Hartog, Joop**287-290 Female labour supply in Australia : Another example of a backward-bending labour supply curve***by*Miller, Paul W.**291-294 Functional forms and educational production functions***by*Montmarquette, Claude & Mahseredjian, Sophie**295-301 The trend and the measurement of world inequality over extended periods of accounting***by*Maasoumi, Esfandiar & Jeong, Jin Ho

### 1985, Volume 19, Issue 2

**101-103 Existence of equilibria based on continuity and boundary behaviour***by*Schulz, Norbert**105-108 A test of market clearing***by*Martin, Christopher**109-112 Nash implementation of the Lindahl performance in economies with just two consumers : An impossibility result***by*Vega-Redondo, Fernando**113-117 Third-degree stochastic dominance and random variables***by*Fishburn, Peter C.**119-123 Bargaining and separation costs in two-sided markets***by*Gerber, Robert I.**125-128 Individual bidder behavior in first-price private value auctions***by*Kagel, John H. & Levin, Dan**129-132 A note on bimatrix games with an unknown payoff matrix***by*Lien, Da-Hsiang Donald**133-135 The approximate purification of mixed strategies with finite observation sets***by*Rashid, Salim**137-139 A simple proof for the Kleinberg-Weiss representation of the shapley value***by*Rothblum, Uriel G.**141-143 Multiperiod forecasts and the variability of predicted and actual changes***by*Smyth, David J. & Ash, J. C. K.**145-148 Public debt, monetization and inflation : Evidence from the U.S. time series***by*Lee, Bong Soo**149-153 Indexed and non-indexed insurance and the growth of group life insurance***by*Outreville, J. Francois**155-163 A Monte Carlo comparison of the maximum likelihood and the corrected ols estimators for Tobit models***by*Flood, Lennart**165-170 Econometric models with normal polychotomous selectivity***by*Terza, Joseph V.**171-175 Using the directional shadow elasticity of substitution to measure the concavity of the cost function***by*Frenger, Petter**177-181 A note on the statistical properties of aggregate q measures***by*Connolly, Robert A. & Lacivita, C. J.**183-187 A note on Peltzman's theory of offsetting consumer behavior***by*Garbacz, Christopher**189-192 The quality of consumption : Some Australian evidence***by*Van Hoa, Tran**193-197 Is there chronic excess supply of labor? : Designing a statistical test***by*Quandt, Richard E. & Rosen, Harvey S.**199-202 Trade union growth in Ireland and the interdependence of the Irish and United Kingdom labor markets***by*Smyth, David J.

### 1985, Volume 19, Issue 1

**1-4 Existence of competitive equilibria via Smith's non-linear complementarity result***by*Harker, Patrick T.**5-8 Two remarks on Cournot equilibria***by*Bergstrom, Theodore C. & Varian, Hal R.**9-12 Independent social choice correspondences are dictatorial***by*Denicolo, Vincenzo**13-15 Condorcet efficiency of constant scoring rules for large electorates***by*Gehrlein, William V.**17-21 Multi-dimensional signalling***by*Wilson, Robert**23-26 Some empirical evidence on the determinants of incomes policies in the UK***by*Holden, K. & Peel, D. A.**27-30 Inflation variability and relative-price change variability in The Netherlands 1951-1981***by*Balk, Bert M.**31-34 Estimating transition probabilities from panel data***by*Dagenais, Marcel G. & Nakamura, Alice & Nakamura, Masao**35-38 Independent or uncorrelated disturbances in linear regression : An illustration of the difference***by*Kelejian, Harry H. & Prucha, Ingmar R.**39-42 The inadmissibility of the Stein estimator in normal multiple regression equations***by*Van Hoa, Tran**43-46 The constant preferences assumption as a specification error in demand analysis***by*Schokkaert, Erik**47-49 Relative prices and real factor rewards : A reinterpretation***by*Jones, Ronald W.**51-55 Transport costs, factor intensities and the Rybczynski theorem***by*Yabuuchi, Shigemi**57-61 A look at 'overshooting' in a two-tier float exchange rate system***by*Bhandari, Jagdeep S.**63-66 Dynamic inconsistency and the optimal choice of the exchange rate regime***by*Dellas, Harris**67-70 A test of the incrementally efficient market hypothesis for the London gold market***by*Ho, Yan-Ki**71-72 Investment and financing decisions by Spanish industrial firms***by*Berges, Angel & Maravall, Fernando**73-77 Industry margins and the business cycle : Some new microeconomic evidence***by*Domowitz, Ian & Hubbard, R. Glenn & Petersen, Bruce C.**79-83 Optimal production in the presence of learning***by*Dotan, A. & Gross, M. & Lieber, Z.**85-89 Preference for output price uncertainty by the non-renewable resource extracting firm***by*Hartwick, John M. & Yeung, David**91-93 Manufacturing wages by size of firm***by*Miller, Edward M.**95-98 Unionization and distribution of income under variable returns to scale***by*Parai, Amar K.

### 1985, Volume 18, Issue 4

**301-303 A score-type test based on higher-order derivatives***by*Kiefer, Nicholas M.**305-307 A note on the independence of irrelevant alternatives in probabilistic choice models***by*Bjorn, Paul A. & Vuong, Quang H.**309-312 Less than perfect aggregation of input-output models : The choice of bounds***by*Guccione, Antonio & Gillen, William J.**313-316 Non-linear pricing and the exclusion of consumers***by*Lockwood, Ben**317-319 Revealed preferences by topological methods***by*Thorlund-Petersen, Lars**321-325 The optimal quantity of money : A reconciliation***by*Freeman, Scott**327-331 The expected loss and mean square error reductions of risk sensitive decisions***by*Hughes Hallett, A. J.**333-338 A note on comparative statics and dynamics of stationary states***by*Dasgupta, S. & McKenzie, Lionel W.**339-343 Inflation and the demand for money in Israel***by*Bailey, Martin J. & Tavlas, George S.**345-349 Testing of functional forms of regressions with lagged dependent variable and autocorrelated errors***by*Huynh, Frank C. H.**351-353 A large-sample chow test for the linear simultaneous equation***by*Lo, Andrew W. & Newey, Whitney K.**355-360 Exogenous variables and asymptotic bias in dynamic models with autocorrelated errors : A note***by*Sevestre, P.**361-365 A Tobit-type estimator for the censored Poisson regression model***by*Terza, Joseph V.**367-371 Total factor productivity and R&D capital in the spanish economy, 1965-1980***by*Lafuente, Alberto & Salas, Vicente & Yague, M. Jesus**373-374 Trade taxes and economic welfare***by*Murphy, Robert G.**375-376 Cross arbitrage and specification in exchange rate models***by*Smith, R. P. & Hunter, J.**377-380 On inferring standard deviations from path dependent options***by*Ball, Clifford A. & Torous, Walter N. & Tschoegl, Adrian E.**381-386 Testing the random walk hypothesis : Power versus frequency of observation***by*Shiller, Robert J. & Perron, Pierre**387-390 The cost-reduction potential of electric-power pools***by*Caputo, Michael & Mulligan, James**391-395 The statistical measurement of discrimination***by*Dolton, P. J. & Makepeace, G. H.**397-399 Effects of income distribution on household income***by*Van Hoa, Tran

### 1985, Volume 18, Issue 2-3

**101-104 Global stability for homothetic preferences in a distribution economy***by*Keenan, Donald**105-108 On the non-existence of equilibrium with differential information***by*Repullo, Rafael**109-112 Non-transitive representations of transitive orderings***by*Ebert, Udo**113-115 Continuous utility functions***by*Mehta, Ghanshyam**117-120 An extended cross-country time-series analysis of the volume and quality of consumption***by*Theil, Henri & Finke, Renate & Rosalsky, Mercedes C.**121-124 The informational efficiency of price and quantity signals***by*Andersen, Torben M.**125-128 On the magnitude of relative risk aversion***by*Choi, E. K. & Menezes, C. F.**129-132 Competition and information acquisition in first price auctions***by*Lee, Tom K.**133-136 Pooling cross-sections with unequal time-series lengths***by*Baltagi, Badi H.**137-141 On the seasonality of vector autoregression residuals***by*Burbidge, John B. & Magee, L. & Veall, Michael R.**143-148 On assessing the precision of Stein's estimator***by*Chi, Xie Wen & Judge, George**149-151 A simplified method of calculating the distribution free Cox test***by*Hall, Alastair**153-156 On the use of a proxy variable in the test for homoscedasticity***by*Kakimoto, Sumio & Ohtani, Kazuhiro**157-159 A rule of thumb for mixed heteroskedasticity***by*Kennedy, Peter**161-164 Bounds of the F-ratio incorporating the ordinary ridge regression estimator***by*Ohtani, Kazuhiro**165-169 Input-output prices with endogenous demand***by*Chander, P. & Dubey, P.**171-174 Underestimation in the Leontief model***by*FlAm, Sjur D. & Thorlund-Petersen, Lars**175-179 A theoretical approach to the conventional treatment of joint product in input-output tables***by*Fukui, Yukio & Seneta, E.**181-186 Underestimation and overestimation of the Leontief inverse revisited***by*Lahiri, Sajal & Satchell, Steve**187-190 Random walk and the velocity of money : Some evidence from annual quarterly series***by*Kim, Benjamin J. C.**191-195 A comparison of the velocities of monetary aggregates : Using UK data for the period 1963.I-1982.I***by*Kitchen, T.**197-200 The demand for money : A variable adjustment model***by*Ouliaris, Sam & Corbae, Dean**201-204 On some estimates of the income-velocity of money function***by*Drakatos, Constantine G.**205-207 Bank credit and inflation***by*Liviatan, Nissan**209-212 Designing a non-distortionary personal tax system for Canada***by*Daly, Michael J. & Naqib, Fadle**213-216 Marginal excess burden in a dynamic economy***by*Judd, Kenneth L.**217-222 On the solution of optimal tax models and other optimization models in economics***by*Rowse, John**223-228 Testing the functional form of Finnish aggregate imports***by*Aurikko, Esko**229-232 The Prebisch-Singer terms of trade hypothesis : Some new evidence***by*Sapsford, David**233-236 Indirect currency substitution : A structural approach***by*Traa, Bob M.**237-240 Welfare gains from capital inflows under import quotas***by*Dei, Fumio**241-245 The terms of trade and the response of Australia's trade balance***by*Felmingham, B. S.**247-249 Exchange market efficiency : An examination of speculation across forward markets***by*Longworth, David**251-254 Friction in the trading process and risk measurement***by*Dimson, Elroy**255-259 The measurement of returns in asset pricing models***by*Layson, Stephen K. & Seaks, Terry G. & Wingler, Tony R.**261-263 Tobin's q and monopoly power : A capital asset pricing perspective***by*Spiller, Pablo T.**265-269 Commitment and entry-deterrence in a model of duopoly***by*Basu, Kaushik & Singh, Nirvikar**271-276 Returns to scale from variable and total cost functions : Evidence from the electric power industry***by*Nelson, Randy A.**277-281 On measuring the impact of unemployment benefits on the duration of unemployment spell***by*Lang, Harald**283-285 New evidence on real wage-employment correlations from U.S. manufacturing data***by*Burda, Michael C.**287-291 Cooperative arrangements and unions as mechanisms for internalizing informational inefficiencies***by*Luis Guasch, J.**293-296 On estimating the impact of tuition on the demand for education from cross-sections***by*Kodde, David A.**297-300 On agglomeration economies and optimal migration***by*Shukla, Vibhooti & Stark, Oded

### 1985, Volume 18, Issue 1

**1-5 Income and price elasticities of demand at low levels of real income***by*Theil, Henri & Finke, Renate**7-8 Homogeneity and symmetry testing when the error distribution has fat tails***by*Theil, Henri & Rosalsky, Mercedes C.**9-12 Second-best pricing with upstream distortions***by*Woroch, Glenn A.**13-16 Applied welfare analysis with discrete choice models : A comment***by*Yatchew, Adonis John**17-19 A note on Keynesian unemployment as a worker discipline device***by*Moene, Karl O.**21-25 On the inconsistency of a weak version of the libertarian principle***by*Gekker, Ruvin**27-30 FIML estimation of models with multiple regimes and covariance restrictions***by*Davidson, James**31-34 The Durbin-Watson test and cross-sectional data***by*King, Maxwell L. & Evans, Merran A.**35-38 Residual analysis for censored duration data***by*Lancaster, Tony & Chesher, Andrew**39-44 Statistical inference, model selection and research experience : A multinomial model of data mining***by*Marquez, Jaime & Shack-Marquez, Janice & Wascher, William L.**45-48 A note on non-parametric tests of consumer behaviour***by*Yatchew, Adonis John**49-52 The contribution of food and energy price shocks to relative price variability***by*Bloom, Scott & Ratti, Ronald A.**53-58 Equity premium in a production economy : A parametric example***by*Basu, Parantap & Chib, Siddhartha**59-61 A new approach to portfolio theory***by*Russell, Thomas**63-66 Paradoxical trade patterns and terms of trade***by*Fukushima, Takashi & Hatta, Tatsuo**67-70 Quotas and the second best***by*Corden, W. Max & Falvey, Rodney E.**71-74 A joint test of risk premia in exchange rates and rational expectations***by*Kumcu, M. Ercan**75-77 A semi-reduced form equation for the Sterling's real effective exchange rate***by*Sen, Partha**79-82 Organizational choices for efficiency and market power***by*Boyer, Marcel & Jacquemin, Alexis**83-86 Excess capacity as a policing device***by*Saloner, Garth**87-92 The short-run effects of airline deregulation***by*Koford, Kenneth & Gillotti, Mark**93-95 An equivalence theorem in the theory of resource extraction***by*Leonard, Daniel & Van Long, Ngo**97-99 A conditional version of working's model***by*Clements, Kenneth W. & Goldschmidt, Peter S. & Theil, Henri

### 1985, Volume 17, Issue 4

**305-309 Expected utility and revelation of subjective probabilities***by*Haller, Hans**311-315 A new formula for the Shapley value***by*Kleinberg, Norman L. & Weiss, Jeffrey H.**317-320 Perfect Nash equilibria in finite repeated game and uniqueness of Nash equilibrium in the constituent game***by*Moreaux, Michel**321-325 Time-varying hall consumption function : Some empirical evidence***by*Koskela, Erkki & Viren, Matti**327-330 A general measure of inflation tax revenues***by*Drazen, Allan**331-333 Wage indexation and the variability of inflation : An empirical result***by*Spivak, Avia & Weinblatt, J. & Zilberfarb, B. Z.**335-340 Unbiased estimation of the inflationary effects of relative price disturbances***by*Stockton, David J.**341-345 Estimating the trans-log cost function with insufficient observations***by*Buse, A. & Taher, M. A.**347-350 A note on the inefficiency of non-linear estimators***by*Hylton, Keith**351-353 A note on the mixed instrumental variables estimator in a stochastic regressors model : Some small sample properties***by*Kakimoto, Sumio & Ohtani, Kazuhiro**355-358 Exact maximum likelihood regression estimation with ARMA (n, n - 1) errors***by*Vinod, H. D.**359-364 Prospective monetary policy and the empirical relation between money and output***by*Boschen, John F. & Mills, Leonard O.**365-368 A divisia system approach to modelling monetary aggregates***by*Van Hoa, Tran