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- Title
- ANALYSIS OF A LOCAL ECONOMY WITH AN ECONOMETRIC MODEL.
- Creator
- OPALAT, STEPHEN E., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
The purpose of this thesis is to present an econometric model for the region of Palm Beach County. This type of economic analysis was chosen because it captures the influence of the service and trade industries as well as the simultaneous nature of other industries which dominate the local economy. The estimation results identified the construction industry as a leading indicator of economic activity in transportation, communications, utilities, finance, insurance and real estate. This...
Show moreThe purpose of this thesis is to present an econometric model for the region of Palm Beach County. This type of economic analysis was chosen because it captures the influence of the service and trade industries as well as the simultaneous nature of other industries which dominate the local economy. The estimation results identified the construction industry as a leading indicator of economic activity in transportation, communications, utilities, finance, insurance and real estate. This simultaneous structure of the model led to the application of various multipler analyses. It was found that local construction output affected gross regional product, local personal income and local total employment. National personal income was found to influence local trade which in turn affects levels of local output, employment and income.
Show less - Date Issued
- 1984
- PURL
- http://purl.flvc.org/fcla/dt/14221
- Subject Headings
- Econometrics, Palm Beach County (Fla)--Economic conditions--Econometric models
- Format
- Document (PDF)
- Title
- THE CAPITAL ASSET PRICING MODEL.
- Creator
- Ayala, Mary D., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis reviews the majot' literature associated with the Capital Asset Pricing Model with emphasis on related controversial issues. The model's underlying theories, developed by Harry Markowitz and James Tobin, are presented first. This is followed by themathematicalderivation, developed by William Sharpe. Special attention is given to the controversial assumptions imposea by Markowitz and Tobin, which emerge in the CAPM. Major tests of the CAPM are reviewed next: and the empirical...
Show moreThis thesis reviews the majot' literature associated with the Capital Asset Pricing Model with emphasis on related controversial issues. The model's underlying theories, developed by Harry Markowitz and James Tobin, are presented first. This is followed by themathematicalderivation, developed by William Sharpe. Special attention is given to the controversial assumptions imposea by Markowitz and Tobin, which emerge in the CAPM. Major tests of the CAPM are reviewed next: and the empirical problems associated with test design are highlighted. It is shown that variations in test design produce controversial test results. The specific tests reviewed here fail to provide strong support for the nodel; nevertheless it becomes evident that such tests fostered a vast outpouring of new and extended models. The CAPM remains a breakthrough in financial and economic literature which deserves to be explored even more intensely in the future.
Show less - Date Issued
- 1981
- PURL
- http://purl.flvc.org/fcla/dt/14067
- Subject Headings
- Capital assets pricing model
- Format
- Document (PDF)
- Title
- Bayesian econometrics: Analysis and illustrations.
- Creator
- Giakoumatos, Gerasimos S., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis presents the theory and an application of Bayesian econometrics. The classical theory of econometrics is also presented for a comparison study. In the Bayesian case the theory of the prior information, which is the distinguishing characteristic of the Bayesian approach, is presented by considering the cases of informative and non-informative priors. The classical and Bayesian approach represent the two fundamental, although opposite in the concept of probability, schools of...
Show moreThis thesis presents the theory and an application of Bayesian econometrics. The classical theory of econometrics is also presented for a comparison study. In the Bayesian case the theory of the prior information, which is the distinguishing characteristic of the Bayesian approach, is presented by considering the cases of informative and non-informative priors. The classical and Bayesian approach represent the two fundamental, although opposite in the concept of probability, schools of thought in statistics and econometrics. An application to the estimation of standard macroeconomic equations is also included where both classical and Bayesian techniques are employed.
Show less - Date Issued
- 1988
- PURL
- http://purl.flvc.org/fcla/dt/14484
- Subject Headings
- Bayesian statistical decision theory
- Format
- Document (PDF)
- Title
- COST FUNCTIONS FOR FLORIDA HOSPITALS: AN ECONOMETRIC STUDY.
- Creator
- PIKE, STEVEN WESLEY., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
The theoretical specification of empirical issues associated with statistical cost functions are reviewed. This is followed by a review of the major works in the field of hospital cost function estimation. The final chapter contains an econometric estimation of cost functions for Florida hospitals in 1976. Included are estimations of total and average cost functions specified as functions of output alone. Additional variables are added to the specification of the average cost function...
Show moreThe theoretical specification of empirical issues associated with statistical cost functions are reviewed. This is followed by a review of the major works in the field of hospital cost function estimation. The final chapter contains an econometric estimation of cost functions for Florida hospitals in 1976. Included are estimations of total and average cost functions specified as functions of output alone. Additional variables are added to the specification of the average cost function including: speed of production; product heterogeneity; urbanization; control of the hospital and the interactions of control with speed of production; and product complexity. These variables significantly improve the explanatory power of the function which results in an inverted L-shaped curve.
Show less - Date Issued
- 1980
- PURL
- http://purl.flvc.org/fcla/dt/14012
- Subject Headings
- Hospitals--Florida--Cost of operation
- Format
- Document (PDF)
- Title
- AN ECONOMETRIC MODEL OF MARTIN COUNTY, 1959-1970.
- Creator
- JOCHEM, DAGNEY SERVIN., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This Thesis examines the components of the economic base of Martin County. A model is then constructed to reflect the nature of the county's economic base. Stability and multiplier analysis are applied to the model, followed by short run forecasts under various assumptions.
- Date Issued
- 1973
- PURL
- http://purl.flvc.org/fcla/dt/13563
- Subject Headings
- Martin County (Fla)--Economic conditions--Mathematical models
- Format
- Document (PDF)
- Title
- AN ECONOMETRIC MODEL OF FLORIDA'S GOLD COAST.
- Creator
- BUCCA, JANE KIRKER., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis deals with regional econometric models. The first chapter discusses static economic modeling. Chapter Two deals with models of substate regional economics. The third chapter presents an econometric model of Florida's Gold Coast including dynamic analysis of short and long run adjustment.
- Date Issued
- 1981
- PURL
- http://purl.flvc.org/fcla/dt/14049
- Subject Headings
- Economics--Florida--Mathematical models, Florida--Economic conditions--Mathematical models
- Format
- Document (PDF)
- Title
- AN ECONOMETRIC MODEL OF PALM BEACH COUNTY, FLORIDA.
- Creator
- HILTON, JOHN DAVID., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
The purpose of this thesis is to estimate an econometric model of Palm Beach County, Florida. An econometric model was chosen as the appropriate method for study as the said county is characteristic of a service based final demand economy. An underlying objective was to utilize data on income and employment variables available on a consistent bases from a Regional Economic Information System Data computer tape provided by the u.s. Department of Commerce 1983. These data distinguished among 11...
Show moreThe purpose of this thesis is to estimate an econometric model of Palm Beach County, Florida. An econometric model was chosen as the appropriate method for study as the said county is characteristic of a service based final demand economy. An underlying objective was to utilize data on income and employment variables available on a consistent bases from a Regional Economic Information System Data computer tape provided by the u.s. Department of Commerce 1983. These data distinguished among 11 industries and referred to the years 1967-1983. In conclusion the model shows that ordinary least squares estimation results were generally significant in the signas and goodness of fit. However evidence of positive serial correlation of the disturbances was detected and the results did not change substantially after applying the Cocran-Orcutt procedure.
Show less - Date Issued
- 1984
- PURL
- http://purl.flvc.org/fcla/dt/14197
- Subject Headings
- Palm Beach County (Fla)--Economic conditions--Mathematical models
- Format
- Document (PDF)
- Title
- THE EFFICIENT MARKETS HYPOTHESIS AS IT APPLIES TO SECURITIES.
- Creator
- MCCARTHY, JOSEPH MICHAEL., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis deals with the efficient markets hypothesis as it applies to the securities market. The first chapter provides the various forms of the EMH and its theoretical basis. Chapter two analyzes the weak form of the EMH and the major empirical contributions concerning it. Chapter three presents the strong forms of the EMH. It is concluded on the basis of a substantial and consistent body of analysis that efficient is an accurate description of the securities market.
- Date Issued
- 1980
- PURL
- http://purl.flvc.org/fcla/dt/14035
- Subject Headings
- Investment analysis
- Format
- Document (PDF)
- Title
- Economic transition, the case of China.
- Creator
- Lin, Min., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis is a study of China's economic transition from the traditional Soviet type socialist command economy which existed before 1978 to a market economy which China wants to achieve. Historical comparisons are applied to see the difference between early economic development and present reform efforts in China. The problems that China has encountered during the transition period also are presented and analysis are given.
- Date Issued
- 1995
- PURL
- http://purl.flvc.org/fcla/dt/15172
- Subject Headings
- China--Economic policy--1976-, Capitalism--China, China--Economic conditions
- Format
- Document (PDF)
- Title
- Econometric models of individual house prices.
- Creator
- Schuler, Frederick Gerard., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis takes a theoretical and analytical look at the implicit prices of housing characteristics in a South Florida submarket. Chapter II analyzes some of the vast body of previous studies that employ Econometric Techniques. Chapter III presents the information revealed by an examination of South Florida data. Several different models are tested and compared. Locational differences between properties are measured and accounted for. Increasing and diminishing returns of certain house...
Show moreThis thesis takes a theoretical and analytical look at the implicit prices of housing characteristics in a South Florida submarket. Chapter II analyzes some of the vast body of previous studies that employ Econometric Techniques. Chapter III presents the information revealed by an examination of South Florida data. Several different models are tested and compared. Locational differences between properties are measured and accounted for. Increasing and diminishing returns of certain house characteristics are considered. Chapter IV uses econometric models to analyze tax assessment bias and to test the efficiency of the housing market. Chapter V is a summary of the conclusions and recommendations generated by this analysis.
Show less - Date Issued
- 1989
- PURL
- http://purl.flvc.org/fcla/dt/14522
- Subject Headings
- House buying--Florida, Real property--Florida--Econometric models
- Format
- Document (PDF)
- Title
- DISTRIBUTED LAG MODELS.
- Creator
- KEMMSIES, WALTER HAMILTON., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis presents various formulations of finite distributed lag models. The objective is to demonstrate how prior restrictions may be imposed on econometric models in order to estimate the lag distributions. Four formulations are thus reviewed, namely, the arithmetic lag model, the inverted-V lag model, the Almon polynomial, and the cubic spline lag model. For the latter formulations, the interpolation methods are reviewed. In addition, four models of consumption are estimated under the...
Show moreThis thesis presents various formulations of finite distributed lag models. The objective is to demonstrate how prior restrictions may be imposed on econometric models in order to estimate the lag distributions. Four formulations are thus reviewed, namely, the arithmetic lag model, the inverted-V lag model, the Almon polynomial, and the cubic spline lag model. For the latter formulations, the interpolation methods are reviewed. In addition, four models of consumption are estimated under the various lag models, for different lag lengths and orders of polynomials, in order to demonstrate the properties of each formulation. In the discussion of the results, certain inferences are made about the consumption functions.
Show less - Date Issued
- 1983
- PURL
- http://purl.flvc.org/fcla/dt/14171
- Subject Headings
- Distributed lags (Economics)
- Format
- Document (PDF)
- Title
- Duration and the prices of common stocks.
- Creator
- Konnan, Yehuda A., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
In finance, the term 'duration' means the effective length of a financial obligation which is discharged in installments. This concept has a number of applications in finance like calculating the change in the price of bonds due to the change in interest rates, immunizing the value of bonds, etc. Common stocks are also financial obligations and are considered to have durations. For bonds and similar strong contractual obligations, duration and its applications are clear cut and are used...
Show moreIn finance, the term 'duration' means the effective length of a financial obligation which is discharged in installments. This concept has a number of applications in finance like calculating the change in the price of bonds due to the change in interest rates, immunizing the value of bonds, etc. Common stocks are also financial obligations and are considered to have durations. For bonds and similar strong contractual obligations, duration and its applications are clear cut and are used widely. For common stocks duration evaluation is difficult and its practical applications hardly exist. Moreover, there are no publications of numerical results where duration was applied to common stocks. These facts make it doubtful whether duration can be applied to common stocks. The results of the empirical research here, with numerical results, make it doubtful that duration can be applied to common stocks or to explain price fluctuations of common stocks.
Show less - Date Issued
- 1997
- PURL
- http://purl.flvc.org/fcla/dt/15368
- Subject Headings
- Investments--Mathematics, Stocks--Prices, Interest rates
- Format
- Document (PDF)
- Title
- Concert fee determination: A game-theoretic approach.
- Creator
- Brooks, Arthur Charles., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis is in three parts. In the first, the cultural economics literature which concerns the labor market for musicians is reviewed and its major theoretical and empirical points are examined. The second part begins by briefly surveying the history and main topics in game theory, providing sufficient background for an understanding of the simplified Rubinstein-Stahl bargaining model, which is then described. The third part applies this model to the process by which concert fees are...
Show moreThis thesis is in three parts. In the first, the cultural economics literature which concerns the labor market for musicians is reviewed and its major theoretical and empirical points are examined. The second part begins by briefly surveying the history and main topics in game theory, providing sufficient background for an understanding of the simplified Rubinstein-Stahl bargaining model, which is then described. The third part applies this model to the process by which concert fees are settled upon, and leads to a number of conclusions. Among these are that subjective discount rates reflect bargaining power in the situation described, and that these discount rates are affected by the notorieties of the parties involved.
Show less - Date Issued
- 1994
- PURL
- http://purl.flvc.org/fcla/dt/15040
- Subject Headings
- Game theory, Fees, Professional, Musicians--Fees, Performing arts--United States--Finance
- Format
- Document (PDF)
- Title
- THE NEUTRALITY OF MONETARY POLICY IN A GROWING ECONOMY.
- Creator
- KOLTSIDOPOULOS, PANAGIOTIS THEODOROS., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
In economic theory, the question has regularly arisen as to how far the growth rate of the money supply and the rate of inflation could influence the development of the economy in the long run. This concentrates basically to the question whether money - dynamically considered - is neutral or not. We intend to review in this study the present state of monetary theory as it appears from the literature. We shall be focusing on the question whether money maintains the feature of neutrality in a...
Show moreIn economic theory, the question has regularly arisen as to how far the growth rate of the money supply and the rate of inflation could influence the development of the economy in the long run. This concentrates basically to the question whether money - dynamically considered - is neutral or not. We intend to review in this study the present state of monetary theory as it appears from the literature. We shall be focusing on the question whether money maintains the feature of neutrality in a framework of growth theory.
Show less - Date Issued
- 1980
- PURL
- http://purl.flvc.org/fcla/dt/14039
- Subject Headings
- Monetary policy
- Format
- Document (PDF)
- Title
- THE FOREIGN EXCHANGE CONSTRAINT ON THE ECONOMIC DEVELOPMENT OF IRAN (1965-74).
- Creator
- ERFANI-EZATI, GOSHTASB., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis focuses on the foreign exchange constraint on the economic development. An analysis of the foreign exchange constraint on the economic development of Iran was made for the 1965-73 period. An econometric model was constructed and estimated. It was found that the prediction of the two-gap model was confirmed for Iran during the 1960's, i.e. the supply of foreign exchange was the major constraint on Iran's growth during the sample period.
- Date Issued
- 1976
- PURL
- http://purl.flvc.org/fcla/dt/13802
- Subject Headings
- Foreign exchange--Iran, Iran--Economic conditions--1945-1979
- Format
- Document (PDF)
- Title
- Hyperinflation in theory and practice: Brazil, 1980-1995.
- Creator
- Lafalaise, Jean Rony., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis reviews the causes of and policies used to end hyperinflation using the Brazilian experience between 1980 and 1995. The work of Thomas Sargent in (Hall, 1982) and Phillip Cagan (1956) found a number of common features regarding the causes and the ending of hyperinflation in a number of European countries in the early 1920s and 1940s. They noted that vigorous monetary and fiscal measures were needed to finally end the rapid rise in prices. Second, there was a final jump in the...
Show moreThis thesis reviews the causes of and policies used to end hyperinflation using the Brazilian experience between 1980 and 1995. The work of Thomas Sargent in (Hall, 1982) and Phillip Cagan (1956) found a number of common features regarding the causes and the ending of hyperinflation in a number of European countries in the early 1920s and 1940s. They noted that vigorous monetary and fiscal measures were needed to finally end the rapid rise in prices. Second, there was a final jump in the money supply in the months after the rise of prices had ended. Third, the price level did not decline after inflation terminated. And fourth, in each case, the tax burden was increased (through an increase in taxes and a cut in government expenditures). The thesis found that the Brazilian hyperinflation displayed the characteristics previously found by Cagan and Sargent. Furthermore, the policies used to end the inflation and resulting impacts were very much in line with the experiences of the countries studied by Cagan and Sargent.
Show less - Date Issued
- 1996
- PURL
- http://purl.flvc.org/fcla/dt/15256
- Subject Headings
- Inflation (Finance)--Brazil, Economic stabilization--Brazil
- Format
- Document (PDF)
- Title
- INVESTMENT SPENDING IN THE UNITED STATES: AN ANALYSIS OF SOME ECONOMETRIC ISSUES.
- Creator
- SADIKU, CHRISTIANAH YEMISI., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis examines the determinants of that part of national gross fixed investment which is undertaken by the private sector. Any investment process is subject to a number of separate time lags,and as a result, lagged explanatory variables were used in this study to explain the past trends and the recent surge in capital spending. The cashflow and q models distinguished themselves from other models as relatively accurate descriptive of investment spending. It should be noted, however, that...
Show moreThis thesis examines the determinants of that part of national gross fixed investment which is undertaken by the private sector. Any investment process is subject to a number of separate time lags,and as a result, lagged explanatory variables were used in this study to explain the past trends and the recent surge in capital spending. The cashflow and q models distinguished themselves from other models as relatively accurate descriptive of investment spending. It should be noted, however, that the description of investment spending that appears to have worked well in the past does not have to work so well in the future because economic conditions change.
Show less - Date Issued
- 1987
- PURL
- http://purl.flvc.org/fcla/dt/14375
- Subject Headings
- Investments--United States--Mathematical models
- Format
- Document (PDF)
- Title
- PRODUCTIVITY AND INDUSTRIAL POLICY IN THE UNITED STATES.
- Creator
- HENN, PETER J., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis examines the relationship between productivity growth and industrial policy using J.S. data from 1948 to 1981. A growth accounting model is used to study productivity growth and the recent productivity slowdown. Beth sides of the industrial policy debate are offered. The analysis of the productivity slowdown is then applied to the industrial policy debate to see if the establishment of the latter could have avoided the former. The thesis purports a negative response to the question.
- Date Issued
- 1985
- PURL
- http://purl.flvc.org/fcla/dt/14256
- Subject Headings
- Industrial productivity--United States, United States--Economic policy
- Format
- Document (PDF)
- Title
- A PREFERRED PORTFOLIO PATTERN MODEL OF THE UNITED STATES ECONOMY, 1968-1972.
- Creator
- BAUM, CHRISTOPHER FREDERICK., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This study deals with the theoretical development, estimation, and application of a financial model for the U.S. economy. The model is a 'preferred portfolio pattern' model, which was suggested by Richard Stone, and is based on the Flow-of-Funds Accounts. A background of the Flow of Funds framework and financial modelling begins the study, and is followed by an overview of traditional input-output techniques, required in the derivation of the model. Matrix adjustment of input-output systems...
Show moreThis study deals with the theoretical development, estimation, and application of a financial model for the U.S. economy. The model is a 'preferred portfolio pattern' model, which was suggested by Richard Stone, and is based on the Flow-of-Funds Accounts. A background of the Flow of Funds framework and financial modelling begins the study, and is followed by an overview of traditional input-output techniques, required in the derivation of the model. Matrix adjustment of input-output systems introduces Stone's 'financial input-output models', where his structure of sectoral balance sheets, input-output type financial models and preferred portfolio pattern models are discussed. Estimation of the model involves aggregation of FOP data and its categorisation by sectors and types of financial instruments. Empirical applications presented include short-term forecasting and an analysis of the model's dynamic time path.
Show less - Date Issued
- 1973
- PURL
- http://purl.flvc.org/fcla/dt/13561
- Subject Headings
- Funds-flow statements--United States, United States--Economic conditions--1961-1971--Mathematical models
- Format
- Document (PDF)
- Title
- A REVIEW OF THE LIFE CYCLE HYPOTHESIS OF CONSUMPTION AND SAVING.
- Creator
- SHELOR, CARROLL FREDERICK., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis reviews the major literature associated with the Life Cycle Hypothesis of Consumption and Saving as formulated by Franco Modigliani, Richard Brumberg and Albert Ando. The initial microeconomic formulation of the theoretical model of individual consumer behavior in terms of life time planning was examined under conditions of both stability and growth. Next, the attempts to seek empirical support for the propositions of the theory in cross-section survey data and the tests of the...
Show moreThis thesis reviews the major literature associated with the Life Cycle Hypothesis of Consumption and Saving as formulated by Franco Modigliani, Richard Brumberg and Albert Ando. The initial microeconomic formulation of the theoretical model of individual consumer behavior in terms of life time planning was examined under conditions of both stability and growth. Next, the attempts to seek empirical support for the propositions of the theory in cross-section survey data and the tests of the aggregate implications of the theory were examined. It was concluded that within the current conceptual framework of macroeconomics the theory has a fairly high level of explanatory force, and should further future inquiry.
Show less - Date Issued
- 1976
- PURL
- http://purl.flvc.org/fcla/dt/13814
- Subject Headings
- Consumption (Economics)
- Format
- Document (PDF)