The objective of this paper is to analyze the effect of a probable financial crisis triggered by bank runs and the consequent currency crisis on the optimal choice of maturity structure of foreign debts. Theoretical analyses of the maturity structure suggest some macroeconomic policies that the...

This study is primarily concerned with investigating the technical, allocative, and scale inefficiency of owner-operators of dairy farms in Utah. A stochastic production frontier has been applied to analyze these inefficiencies. The results indicate that there is positive association between...

A multivariate technique called principal component analysis is used to combine measures of human development. The first principal component index is the linear combination of component indexes with maximal information content. This multivariate technique accounts for differences in the...

This paper shows the non-optimality of the free trade policy in a labour-surplus economy where multinational corporations operate in the importable sector with distortions in the capital market. It then examines the welfare implications of alternative trade interventions policies. The paper...

A long-standing question in range management concerns the relative importance of the stocking rate versus the length of time during which animals graze a particular rangeland. Recently, Batabyal and co-workers provided a theoretical answer to this question. Given the importance of this question...

This paper examines association between the cyclical component of agricultural output and rainfall in India. When the cause of food inflation is because of supply shortage driven by inadequate rainfall and poor irrigation facilities, then a contractionary monetary policy may lead to stagflation....

This paper uses both the stochastic and nonstochastic production function approach to measure technical efficiency in public education in Utah. The stochastic specification estimates technical efficiency assuming half normal and exponential distributions. The nonstochastic specification uses...

With regard to the effect of growth on the balance of payments of a country, the conclusion of the Keynesian theory of income determination sharply differs from that of the monetary theory. This article suggests an integrated approach towards the derivation of the import function and the balance...