Showing papers on "Negative relationship published in 1987"
TL;DR: The authors reviewed empirical evidence from four research methods related to the impact of money on short-term nominal rates and found no evidence supporting the hypothesis of a negative relationship between money and nominal rates since at least April 1975.
Abstract: This study reviews empirical evidence from four research methods related to the impact of money on short-term nominal rates. The studies consistently fail to find evidence supporting the much hypothesized short-term, negative relationship between money and nominal rates since at least April 1975. Reasons for the absence of a negative relationship include the tendency of financial markets to anticipate corrective action by the Fed whenever Ml deviates from targeted growth ranges and a rapid adjustment of inflationary expectations to changes in money growth.
95 citations
TL;DR: In this article, the relationship between government spending, the balance of trade and the terms of trade using early British data was investigated, and the results provided some support for these hypotheses, although they are sensitive to sample period and the method of decomposition of government spending.
87 citations
TL;DR: In this paper, a game-theoretic model of participation under uncertainty was applied to investigate the negative relationship between constituency size and voter turnout rates, and they found that this theoretical model accounts for almost all of the variation in turnout due to size in cross sectional data from school budget referenda.
Abstract: This paper applies a game-theoretic model of participation under uncertainty to investigate the negative relationship between constituency size and voter turnout rates: theconstituency size effect. We find that this theoretical model accounts for almost all of the variation in turnout due to size in cross sectional data from school budget referenda.
82 citations
TL;DR: In this article, the effects of inflation on the housing market are investigated in 42 U.S. metropolitan areas from 1971 to 1978, and the results show that estimates of the elasticity of real house prices with respect to the real user cost have been biased sharply downward owing to an errors-in-variables problem.
29 citations
TL;DR: In this paper, the authors used three-and four-digit cross-sections of United States manufacturing industries in 1972 to test a Kaleckian degree of monopoly theory of income distribution.
23 citations
TL;DR: The results indicated that a greater proportion of elderly men were classified as "head of household" in provinces characterized by low levels of urbanization and industrialization and with high village populations, which provides strong support for the major tenets of modernization theory.
Abstract: The aim of this study was to test the predictions of modernization theory concerning the relationship between socioeconomic development and the status of elderly men in Turkish society. Using data derived from Turkish provincial census returns for 1980 and related material, we performed a series of principal component (PC) regression analyses on the data. The results indicated that a greater proportion of elderly men were classified as "head of household" in provinces characterized by low levels of urbanization and industrialization and with high village populations. Labor force participation rates of elderly men also demonstrated a negative relationship to the modernization variables. In contrast, measures of educational and high-level employment status showed a positive relationship with these indexes. These latter variables may reflect historical processes of development and achievements gained earlier in life rather than the current status of elderly men in Turkey. Thus, the study provides strong support for the major tenets of modernization theory.
6 citations
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TL;DR: The authors assesses the empirical relevance of the Lucas supply function for developing countries and finds that the short run effects of monetary disturbances on real output are negatively related to the variability of such disturbances, and that the negative relationship seems to be a robust feature of developing country data, and holds true for almost all of the analytical subgroups examined.
Abstract: The paper assesses the empirical relevance of the Lucas supply function for developing countries. The prediction of Lucas` model that the short-run effects of monetary disturbances on real output are negatively related to the variability of such disturbances is tested for a large sample of developing countries using distribution-free statistical methods. The negative relationship seems to be a robust feature of developing country data, and holds true for almost all of the analytical subgroups examined.
5 citations
TL;DR: In this article, the authors present empirical evidence on the interrelationship between output growth and the reliance of the tax system on income taxes in developing countries and conclude that while there is some evidence of a negative relationship between growth rates and the dependency of a developing country on income tax, this relationship cannot be asserted with much confidence.
Abstract: The paper presents empirical evidence on the interrelationship between output growth and the reliance of the tax system on income taxes in developing countries. It uses cross-country and pooled cross-country-time-series data to estimate a variety of multiple regression equations containing important determinants of growth derived from the Dennison growth accounting tradition. The tentative conclusion of the paper, which is subject to obvious limitations, is that while there is some evidence of a negative relationship between growth rates and the reliance of a developing country on income taxes, this relationship cannot be asserted with much confidence.
4 citations
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TL;DR: In this article, a concession schedule is estimated using a unique micro data set of about 3000 contracts over the period 1970-1981 using private information models of strikes, which suggest that the strike is used as an information revealing device by the union in the presence of asymmetrical information.
Abstract: Private information models of strikes suggest that the strike is used as an information revealing device by the union in the presence of asymmetrical information. A testable prediction of these models is that there is a concession schedule which maps out a negative relationship between wages and strikes. In this paper a concession schedule is estimated using a unique micro data set of about 3000 contracts over the period 1970-1981. Unlike previous wage determination studies, which use the percentage change in nominal wages as the dependent variable, this study uses the average expected real wage over the length of the contract as the dependent variable as this is the wage that is of interest to the negotiating parties. In order to estimate the concession schedule it is necessary to control for all observable variables which effect the level of wages and strike activity. The most important determinants of the real wage are found to be bargaining pair specific fixed effects and a general time trend. Wage settlements at other firms in the sane industry prior to the negotiations were also important. The estimated concession schedule has a negative slope as predicted by the private information models. The concession schedule is fairly flat - the real wage decreases by only 3% after a strike lasting 100 days.
2 citations