2,915 research outputs found
Oral History Interview with Daniel Samuelson
No full textThe National Museum of the Pacific War presents an oral interview with Daniel Samuelson. Samuelson joined the Army Air Forces after spending one semester in the ROTC at LSU. He received basic training in Texas and aerial gunnery training in Arizona. Upon completion, he was assigned to the 95th Bombardment Group, stationed at RAF Horham. He flew 35 missions as a tail gunner, beginning on Christmas Eve 1944. Samuelson flew his last mission in April 1945
The Harrod-Balassa-Samuelson Effect: A Survey of Empirical Evidence
No full textThe paper surveys empirical evidence on the Harrod-Balassa-Samuelson effect. The survey encompasses the published empirical work on the phenomenon since its (re)discovery in 1964. In total, 58 empirical papers are examined within a specialized analytical framework. The body of empirical evidence is synthesized through four major elements. The analysis starts with the ongoing controversy related to the name of the theory. This is followed by a presentation of the evolution of the theoretical and econometric model. It ends with an analysis of the results of the surveyed empirical studies. Results of the survey indicate that growing body of evidence definitely points towards professional rethinking about the significance of the Harrod-Balassa-Samuelson effect.Harrod Balassa Samuelson effect, real exchange rate, purchasing power parity, productivity
The Political Economy of Textbook Writing: Paul Samuelson and the making of the first ten Editions of Economics (1945-1976)
No full textOver the past two decades, numerous contributions to the history of economics have tried to assess Paul Samuelson’s political positioning by tracing it in the subsequent editions of his famous textbook Economics. This literature, however, has provided no consensus about the location of Samuelson’s political ideas. While some authors believe that Samuelson has always had inclinations toward interventionism, others conclude that he more often acted as a pro-business advocate. The purpose of this paper is not to argue for one of these two interpretations but to depict the making of Economics itself as a political process. By ‘political’ it is not meant the conduct of party politics but the many political elements that a textbook author has to take into account if he wants to be published and favorably received. I argue that the “middle of the road” stance that Samuelson adopted in the book was consciously constructed by the MIT economist, with the help of his home institution and his publishing company, McGraw-Hill, to ensure both academic freedom and the success of the book. The reason for which the stance developed is related to pre-McCarthyist right-wing criticisms of the textbook and how Samuelson and the MIT department had to endure the pressures from members of the Corporation (MIT’s Board of Trustees), who tried to prevent the publication of the textbook and threatened Samuelson’s tenure at MIT as soon as 1947 – when early manuscripts were circulated. As a result, it was decided in accordance with both the Corporation and McGraw-Hill that the Readings volume would be published to balance conflicting ideas about state intervention. Following these early criticisms, the making of the subsequent editions relied on a network of instructors and referees all over the US in order to make it as successful and consensual as possible. This seemed to work quite well in the 1950s and for a good portion of the 1960s, until Economics became victim of its own success and was seen, in an ironical twist of fate, as a right wing text by younger, radical economists. From now on, Samuelson will try to have his book sent as often as possible to the radicals for referring process, with mixed results. Eventually, the book became criticized from both its left and its right.Paul Samuelson, Economics, Textbook, Politics, Economic Education
Oral History Interview with Daniel Samuelson
No full textThe National Museum of the Pacific War presents an oral interview with Daniel Samuelson. Samuelson joined the Army Air Forces after spending one semester in the ROTC at LSU. He received basic training in Texas and aerial gunnery training in Arizona. Upon completion, he was assigned to the 95th Bombardment Group, stationed at RAF Horham. He flew 35 missions as a tail gunner, beginning on Christmas Eve 1944. Samuelson flew his last mission in April 1945
A Test of the Balassa-Samuelson Effect Applied to Chinese Regional Data
No full textIn this paper, we investigate the relevance of the Balassa-Samuelson effect to the determination of regional inflation in China, for the period 1985 – 2000. To do this, we first construct annual measures of Chinese inflation and industry input on regional and sectoral basis. Then we generalise the Asea and Mendoza (1994) settings to consider asymmetric productivity shocks across sectors. Testing this model on Chinese Regional Data aid of non-stationary panel data techniques, it shows that our extended theoretical model is a good empirical representation of the Chinese data that supports the Balassa-Samuelson effect. Moreover, we are able to test the Asea and Mendoza (1994) version of our general model and find that the restrictions are rejected.Balassa-Samuelson effect, productivity shocks, panel data
The Balassa-Samuelson Effect in 'East & West'. Differences and Similarities
No full textBased on two detailed Balassa-Samuelson (BS) studies, Wagner and Hlouskova (2004) for eight Central Eastern European countries (CEECs) and Wagner and Doytchinov (2004) for ten Western European countries (WECs), this study assesses the differences and similarities of the BS effect between these two country groups. The econometric results show that the BS effect may have been overestimated in previous studies due to application of inappropriate first generation panel cointegration methods. When appropriately quantified, the BS effect itself explains RER movements respectively inflation differentials only to a small extent. However, extended BS relationships that include additional variables allow for an adequate modelling of inflation. Based on the comparative analysis we draw some conclusions for monetary policy in the future enlarged Euro Area.Balassa-Samuelson effect, Central and Eastern Europe, Western Europe, Non-stationary panels, Inflation simulations
Balassa-Samuelson Effect in Transition Economies: The Case of Slovenia
No full textPaper presents a first-hand examination of the Balassa-Samuelson effect in Slovenia. Different measures of real exchange rate are presented in order to provide arguments for the Balassa-Samuelson effect estimation using external real exchange rate measure. It is argued that on average one percent increase in productivity differential between labor productivities in industry and services appreciated external real exchange rate by almost 1.5 percent in the period from 1993:1 to 2001:2. At the same time, one percent increase in productivity differential caused about 1.7 percent increase in CPI. The results are in line with other studies on real exchange rate behavior in transition economies.transition economies, real exchange rate, Balassa-Samuelson effect
Comparative Statics, English Auctions, and the Stolper-Samuelson Theorem
No full textChanges in the parameters of an -dimensional system of equations induce changes in its solutions. For a class of such systems, we determine the qualitative change in solutions given certain qualitative changes in parameters. Our methods and results are elementary yet useful. They highlight the existence of a common thread, our ``own effect'' assumption, in formally diverse areas of economics. We discuss several applications; among them, we establish the existence of efficient equilibria in English auctions with interdependent valuations, and a version of the Stolper-Samuelson Theorem for an trade model.effficient auctions, international trade theory, implicit function theorem
A Test of the Balassa-Samuelson Effect Applied to Chinese Regional Data
No full textIn this paper we investigate the relevance of the Balassa-Samuelson effect to the determination of regional inflation in China, for the period 1985 – 2000. To do this, we first construct annual measures of Chinese inflation and industry input on regional and sectoral basis. Then we generalize the Asea and Mendoza (1994) settings to consider asymmetric productivity shocks across sectors. Testing this model on Chinese Regional Data aid of non-stationary panel data techniques, it shows that our extended theoretical model is a good empirical representation of the Chinese data which supports the Balassa- Samuelson effect. Moreover, we are able to test the Asea and Mendoza (1994) version of our general model and find that the restrictions are rejected.
Dr. Samuelson
No full textDr. Samuelson and woman posing by a cake at the surpise Samuelson Union naming.https://digitalcommons.cwu.edu/john_foster_photos/1092/thumbnail.jp
- …
