Quantitative Economics and Development

List of ContributorsPrefaceTa-Chung Liu, 1914-1975Publications of Ta-Chung LiuSociety, Politics, and Economic Development Revisited Disjoint Principal-Components Method Statistical Results Principal-Components Analysis within Groups Conclusion ReferencesOn Global Stability of Some Stochastic Economic Processes: A Synthesis I. Introduction II. Basic Definitions III. Some Economic Examples IV. Invariant Measures for Diffusions V. Stability Results for the Economic Models ReferencesThe Design of Mechanisms for Efficient Allocation of Public Goods I. Introduction II. A Simple Method III. The Design Problem Under Coalition Formation IV. Examples of Quadratic Incentive Design Using (3.3) and (3.4) V. Externalities in Consumption VI. The Design of Individually Incentive Compatible Mechanisms in an Abstract Setting VII. The Design of Mechanisms for Efficient Accumulation of Public Capital VIII. Suggestions for Further Research and Summary ReferencesCritical Observations on the Labor Theory of Value and Sraffa's Standard Commodity I. Introduction II. A Single Leontief-Sraffa Technique of Production III. A Pure Labor Theory of Value at Positive Profit Rates IV. Necessary and Sufficient Conditions for a Pure Labor Theory of Value in a Leonteif-Sraffa Technology V. Sraffa's Standard Commodity VI. Sraffa's "Real Wage" Measure and the Constant-Returnsto-Scale Assumption VII. A Pure Labor Theory of Neoclassical Production Functions VIII. Simultaneous Validity of the Pure Labor Theory and the Neoclassical Parable IX. A Few Fundamental Objections ReferencesThe Selection of Variables for Use in Prediction I. The Problem II. Hotelling's Solution III. A Geometric Interpretation of Hotelling's Solution IV. Solution for Two Sets of Fixed Variates V. Solution for Many Sets of Fixed Variates VI. The Multivariate Case VII. Concluding Remarks ReferencesRegression When Each of Two Variables Is Dependent Some of the Time I. Introduction and Summary II. The Estimating Equation for ß^ in a Simple Regression III. The Estimating Equation for ß^ in a Multiple Regression IV. The Estimator of ß^ V. Generalization to a Simultaneous Equation ModelAn Exploratory Policy-Oriented Econometric Model of a Metropolitan Area: Boston I. Introduction II. Distinctive Features of the Model III. Individual Sectoral Models IV. Simulations V. Conclusion Appendix: Variable Names ReferencesThe Effect of Simple Specification Error on the Coefficients of "Unaffected" Variables ReferencesTemporal Aggregation and Econometric Models I. Introduction II. Time Aggregation and Structural Specification III. Time Aggregation of Forecasting Errors IV. Time Aggregation and Linear Regression V. Effects of Measurement Errors VI. Empirical Tests VII. Error Analysis VIII. Policy Responsiveness IX. Conclusion Appendix ReferencesRecent Economic Fluctuations and Stabilization Policies: An Optimal Control Approach I. Introduction and Summary II. Experimental Design III. Dynamic Multiplier IV. The Optimal Control Solutions V. A Final Correction VI. An Algorithmic Variation ReferencesNotes on Income Distribution in Taiwan I. Introduction II. Changes to Income Distribution, 1964-1975 III. Distribution Among Groups by Occupation of Household Head, 1964-1975 IV. Differences in Per Worker Product Between A and ¿¿¿-A Sectors, and Disparities in Per Person Income Between Farmer and Nonfarmer Households V. Concluding Comments ReferencesOn the Uniqueness of the Representation of Commodity-Augmenting Technical Change I. Introduction II. Statement of the Problem III. The Main Theorem IV.