Econometrica

Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica - Volume 44

Issue 1

[Photograph]: Zvi Griliches, President of the Econometric Society, 1975; First Vice-President of the Econometric Society, 1974; Second Vice-President of the Econometric Society, 1973

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Back Matter

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Front Matter

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Volume Information

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Autoregressive and Nonautoregressive Elements in Cross-Section Forecasts of Inflation

Burton G. Malkiel, Edward J. Kane
p. 1-16

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A Social Choice Interpretation of the Von Neumann-Morgenstern Game

Stefan D. Bloomfield
p. 105-114

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The Incentives for Price-Taking Behavior in Large Exchange Economies

Andrew Postlewaite, Donald John Roberts
p. 115-127

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The Liquidity Trap

Guy Laroque, Jean-Michel Grandmont
p. 129-135

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Efficient Estimation of the Lorenz Curve and Associated Inequality Measures from Grouped Observations

N. C. Kakwani, N. Podder
p. 137-148

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Some Finite Sample Properties of Spectral Estimators of a Linear Regression

Robert F. Engle, Roy Gardner
p. 149-165

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Estimation in the Presence of Stochastic Parameter Variation

Edward C. Prescott, Thomas F. Cooley
p. 167-184

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An Experimental Study of Expectation Formation

Richard Schmalensee
p. 17-41

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Specification Error Tests and Investment Functions

Peter D. Loeb
p. 185-194

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Accepted Manuscripts

p. 195-196

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European Meeting of the Econometric Society: Helsinki, 1976

p. 195-195

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North American Meeting of the Econometric Society: Atlantic City, 1976

p. 195-195

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News Notes

p. 196-197

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Unpublished Memoranda

p. 198-198

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Unpublished Research Memoranda

p. 198-198

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1974 Fellows of the Econometric Society

p. 199-205

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Report from the President

Zvi Griliches
p. 206-207

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Report of the Secretary

Julie P. Gordon
p. 207-209

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Report of the Treasurer

Robert J. Gordon
p. 209-214

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Report of the Editor

Franklin M. Fisher
p. 214-217

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Rational Expectations and the Natural Rate Hypothesis: Some Consistent Estimates

B. T. McCallum
p. 43-52

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Asymmetric Policymaker Utility Functions and Optimal Policy under Uncertainty

Roger N. Waud
p. 53-66

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On the Role of Separability Assumptions in Determining Impatience Implications

H. Stuart Burness
p. 67-78

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Unite and Conquer: A Multiplicative Inequality for Choice Probabilities

Amos Tversky, Shmuel Sattath
p. 79-89

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Threats, Counter-Threats, and Strategic Voting

Prasanta K. Pattanaik
p. 91-103

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Issue 2

Back Matter

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Front Matter

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Poverty: An Ordinal Approach to Measurement

Amartya Sen
p. 219-231

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Collective Choice Correspondences as Admissible Outcomes of Social Bargaining Processes

David Schmeidler, Ehud Kalai, Elisha A. Pazner
p. 233-240

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A Problem on Rankings by Committees

J. W. Moon
p. 241-246

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Fisher's Tests Revisited

W. Eichhorn
p. 247-256

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An Approximate Divisia Index of Total Factor Productivity

Robert E. Hall, Spencer Star
p. 257-263

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Theoremes d'Existence et d'Equivalence pour des Economies avec Production

Claude Oddou
p. 265-281

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Existence d'un Equilibre General de Concurrence Imparfaite: Une Introduction

Guy Laroque, Jean-Jacques Laffont
p. 283-294

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Analysis of Models for Commercial Fishing: Mathematical and Economical Aspects

Anthony Leung, Ar-Young Wang
p. 295-303

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The Stochastic Dependence of Security Price Changes and Transaction Volumes: Implications for the Mixture-of-Distributions Hypothesis

Mary Lee Epps, Thomas W. Epps
p. 305-321

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On the Properties of Linear Decision Rules and Their Derivation by an Iterative Procedure

Jan Tymes, Stephen J. Nickell
p. 323-336

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Discriminating among Linear Models with Interdependent Disturbances

Kenneth M. Gaver, Martin S. Geisel
p. 337-343

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Weak Priors and Sharp Posteriors in Simultaneous Equation Models

G. S. Maddala
p. 345-351

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The Variances of Regression Coefficient Estimates Using Aggregate Data

Edwin Kuh, Roy E. Welsch
p. 353-363

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Optimal Critical Values for Pre-Testing in Regression

T. D. Wallace, T. Toyoda
p. 365-375

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Notes and Comments: Demand and Supply Functions for Money: Another Look at Theory and Measurement

Ronald L. Teigen
p. 377-385

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Notes and Comments: Demand and Supply Functions for Money: A Comment

William E. Gibson
p. 387-389

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Notes and Comments: The Distributional Implications of Public Goods

Geoffrey Brennan
p. 391-399

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Notes and Comments: Reply to Geoffrey Brennan, "The Distributional Implications of Public Goods"

Henry Aaron, Martin McGuire
p. 401-404

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Notes and Comments: Public Goods and Income Distribution: A Rejoinder to the Aaron-McGuire Reply

Geoffrey Brennan
p. 405-407

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Notes and Comments: A Proof that Both the Bias and the Mean Square Error of the Two-Stage Least Squares Estimator are Monotonically Non-Increasing Functions of Sample Size

A. D. Owen
p. 409-411

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1975 Election Results

p. 413-413

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Accepted Manuscripts

p. 413-414

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North American Summer Meeting, Madison, Wisconsin, June 23-26, 1976

p. 413-413

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Pagination Error

p. 413-413

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Election of Fellows, 1975

p. 415-419

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Erratum: Risk Aversion in the Small and in the Large

John W. Pratt
p. 420-420

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Issue 3

Back Matter

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Front Matter

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Econometric Estimators and the Edgeworth Approximation

J. D. Sargan
p. 421-448

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The Iterated Minimum Distance Estimator and the Quasi-Maximum Likelihood Estimator

P. C. B. Phillips
p. 449-460

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Estimating Regression Models with Multiplicative Heteroscedasticity

A. C. Harvey
p. 461-465

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Point Estimation in Multiplicative Models

I. G. Evans, S. A. Shaban
p. 467-473

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A Remark on the Wu Test

R. W. Farebrother
p. 475-477

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The Interpolation of the Lorenz Curve and Gini Index from Grouped Data

Joseph L. Gastwirth, Marcia Glauberman
p. 479-483

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Taxes in a Labor Supply Model with Joint Wage-Hours Determination

Harvey S. Rosen
p. 485-507

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Extensions of the Le Chatelier-Samuelson Principle and Their Application to Analytical Economics--Constraints and Economic Analysis

Sho-Ichiro Kusumoto
p. 509-535

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Existence of a Competitive Equilibrium in a Nonstandard Exchange Economy

Donald J. Brown
p. 537-546

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Solutions of General Equilibrium Problems for a Trading World

Elhanan Helpman
p. 547-559

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A Small Open Economy with More Produced Commodities than Factors

Wolfgang Mayer
p. 561-573

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Stability Conditions for Linear Constant Coefficient Difference Equations in Generalized Differenced Form

Dan C. Boger, Harry C. Mullikin, Roger Nils Folsom
p. 575-591

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Notes and Comments: Multiplier Effects for Higher than First Order Linear Dynamic Econometric Models

Sophocles N. Brissimis
p. 593-595

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Notes and Comments: Distributed Lags, Morishima Matrices, and the Stability of Economic Models

David G. Tarr
p. 597-600

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Notes and Comments: Stability of Monopoly

M. G. Allingham
p. 601-602

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Notes and Comments: Neutrality, Monotonicity, and the Right of Veto: A Comment

Julian H. Blau
p. 603-603

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Notes and Comments: Aspects of Partial Decisionmaking--Kernels of Quasi-Ordered Sets

Roger Hartley
p. 605-608

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Notes and Comments: A Note on the Derivation of Theil's Blus Residuals

Gregory C. Chow
p. 609-610

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Notes and Comments: Norm Minimizing Estimation and Unbiasedness

William W. Hogan
p. 611-614

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Notes and Comments: Constraints Often Overlooked in Analyses of Simultaneous Equation Models: Comment

G. S. Maddala
p. 615-616

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Notes and Comments: Constraints Often Overlooked in Analyses of Simultaneous Equation Models: Comment

Robert F. Engle
p. 617-618

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Notes and Comments: Constraints Often Overlooked in Analyses of Simultaneous Equation Models: A Reply

Arnold Zellner
p. 619-624

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Notes and Comments: Constraints Often Overlooked in Analyses of Simultaneous Equation Models: A Rejoinder

G. S. Maddala
p. 625-625

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Notes and Comments: Constraints Often Overlooked in Analyses of Simultaneous Equation Models: A Further Reply

Arnold Zellner
p. 627-628

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Accepted Manuscripts

p. 629-629

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Errata: Efficient Estimation of the Lorenz Curve and Associated Inequality Measures from Grouped Observations

N. C. Kakwani, N. Podder
p. 630-630

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Errata: Fellows of the Econometric Society, January 1976

p. 630-630

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News Note

p. 630-630

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Issue 4

Back Matter

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Front Matter

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Personal Taxation and Portfolio Composition: An Econometric Analysis

Martin Feldstein
p. 631-650

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An Indirect Test of Complementarity in a Family Labor Supply Model

Thomas J. Kniesner
p. 651-669

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Compensation of Cooperating Factors

Alan V. Deardorff, Frank P. Stafford
p. 671-684

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The Control of Nonlinear Econometric Systems with Unknown Parameters

Gregory C. Chow
p. 685-695

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Formulations Bayesiennes de Modeles Economiques Classiques d'Affectation

J. Voranger
p. 697-712

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The Identification and Parameterization of Armax and State Space Forms

E. J. Hannan
p. 713-723

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Prior Information on the Coefficients when the Disturbance Covariance Matrix is Unknown

William E. Taylor
p. 725-739

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An Indirect Least Squares Estimator for Overidentified Equations

J. Daniel Khazzoom
p. 741-750

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The Estimation of Linear Differential Equations with Constant Coefficients

P. M. Robinson
p. 751-764

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Instrumental Variables Estimation of Differential Equations

P. M. Robinson
p. 765-776

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Optimum Trade Restrictions and Their Consequences

Halbert White, Lester C. Thurow
p. 777-786

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A Theorem on Decentralized Exchange

Paul J. Madden
p. 787-791

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Equity, Arrow's Conditions, and Rawls' Difference Principle

Peter J. Hammond
p. 793-804

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Linear Measures of Income Inequality

Farhad Mehran
p. 805-809

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Notes and Comments: Conventional Returns to Scale and Financing Pollution Control

Bruce Greenwald
p. 811-814

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Notes and Comments: A Note of Identification and Information Loss through Aggregation

Donald D. Hester
p. 815-818

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Notes and Comments: The Relative Factor Intensities of Investment- and Consumer-Goods Industries: A Note

John Sutton
p. 819-821

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Notes and Comments: The Effect of Transformations of Lorenz Curves

J. Fellman
p. 823-824

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Notes and Comments: A Slutsky Equation for Demand Correspondences

Dennis F. Ellis
p. 825-828

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Notes and Comments: Existence of Approximate Cores with Incomplete Preferences

Birgit Grodal
p. 829-830

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Notes and Comments: Smooth Preferences: A Corrigendum

Gerard Debreu
p. 831-832

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Computer Algorithms: Small Computer Programs for OLS and Principal Components Regression Calculations

J. C. Nash
p. 833-833

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Computer Algorithms: A Program for Econometric and Spectral Analysis-EAS

Richard E. Just, Stanley M. Fletcher
p. 835-835

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Computer Algorithms: Computer Algorithm: Derived Reduced Form Coefficient Covariances

Arthur M. Havenner
p. 837-837

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Announcements

p. 839-839

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Accepted Manuscripts

p. 839-839

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News Note

p. 839-839

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Errata: Accepted Manuscripts

p. 840-840

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Errata: Large Sample Theory of Some Measures of Income Inequality

Joseph L. Gastwirth
p. 840-840

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Issue 5

Back Matter

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Front Matter

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Irrelevant Alternatives and Social Welfare

D. K. Osborne
p. 1001-1015

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Self-Dual Preferences

Ryuzo Sato
p. 1017-1032

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Representable Choice Functions

Peter C. Fishburn
p. 1033-1043

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Bayesian Limited Information Analysis of the Simultaneous Equations Model

Jacques H. Dreze
p. 1045-1075

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Testing for Serial Correlation in Dynamic Simultaneous Equation Models

L. G. Godfrey
p. 1077-1084

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Notes and Comments: Estimation and Prediction from Aggregate Data when Aggregates are Measured More Accurately than Their Components: Comment

William H. Greene
p. 1085-1085

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Notes and Comments: Decentralized Nonmonetary Trade

Ross M. Starr
p. 1087-1089

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Accepted Manuscripts

p. 1090-1090

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News Note

p. 1090-1090

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Turnpike Theory

Lionel W. McKenzie
p. 841-865

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Optimal Growth in a Putty-Clay Model

Guillermo A. Calvo
p. 867-878

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The Specification of Adaptive Expectations in Continuous Time Dynamic Economic Models

Edwin Burmeister, Stephen J. Turnovsky
p. 879-905

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A Non-Tatonnement Model with Production and Consumption

Franklin M. Fisher
p. 907-938

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Limit Pricing, Uncertain Entry, and the Entry Lag

Raymond R. De Bondt
p. 939-946

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Input-Output Analysis with Scale-Dependent Coefficients

Sajal Lahiri
p. 947-961

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A Function for Size Distribution of Incomes

G. S. Maddala, S. K. Singh
p. 963-970

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The Demand Theory of the Weak Axiom of Revealed Preference

Andreu Mas-Colell, Hugo Sonnenschein, Richard Kihlstrom
p. 971-978

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Community Preferences and the Representative Consumer

John Muellbauer
p. 979-999

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Issue 6

Back Matter

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Front Matter

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Keynes and Econometrics: On the Interaction between the Macroeconomic Revolutions of the Interwar Period

Don Patinkin
p. 1091-1123

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Some Theory of Labor Management and Participation

Jacques H. Dreze
p. 1125-1139

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An Interactive Market-Planning Procedure

Robert L. Welch
p. 1141-1152

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Pricing in a Dynamic Model with Saturation

H. J. Landau
p. 1153-1155

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Dynamics of Temporary Equilibria and Expectations

Gerard Fuchs, Guy Laroque
p. 1157-1178

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Capital Aggregation in a General Equilibrium Model of Production

Murray Brown, Winston W. Chang
p. 1179-1200

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The Income Tax and Charitable Contributions

Amy Taylor, Martin Feldstein
p. 1201-1222

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Estimation of the Earnings Profile from Optimal Human Capital Accumulation

William J. Haley
p. 1223-1238

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Social Welfare and Income Distribution

Efraim Sadka
p. 1239-1251

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The Welfare Loss from Price Distortions

Trout Rader
p. 1253-1257

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An Econometric Evaluation of a Generalized Consumer Surplus Measure: The Mineral King Controversy

Anthony C. Fisher, Charles J. Cicchetti, V. Kerry Smith
p. 1259-1276

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On the Insensitivity of the Autoregressive Moving Average Representations of Some Australian Quarterly Time Series

John McDonald
p. 1277-1287

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Some Experimental Results on the Statistical Properties of Least Squares Estimates in Control Problems

John B. Taylor, T. W. Anderson
p. 1289-1302

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Conflict Among Testing Procedures in a Linear Regression Model with Autoregressive Disturbances

N. E. Savin
p. 1303-1315

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Notes and Comments: A Note on Bias in the Almon Distributed Lag Estimator

Timo Terasvirta
p. 1317-1321

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Notes and Comments: The Malinvaud Eigenvalue Lemma: Correction and Amplification

David Gale, Richard Rockwell
p. 1323-1324

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Computer Algorithm: An Algorithm for Determining the Distribution Function of the Durbin-Watson Test Statistic

Daniel Chall, Daniel Taylor, Wilford L. L’Esperance
p. 1325-1326

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Accepted Manuscripts

p. 1327-1327

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European Meeting of the Econometric Society--Vienna, 1977

p. 1327-1327

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News Notes

p. 1327-1328

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Erratum: Distributions of Estimates of Coefficients of a Single Equation in a Simultaneous System and Their Asymptotic Expansions

T. W. Anderson, Takamitsu Sawa
p. 1329-1329

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