The harmonic motion model as explanation of some markets' behavior is an alternative to the cobweb model. A distributed lag technique for estimating harmonic motion is presented. Results are consistent with the four‐year period observed in the hog cycle; an inference about farmers' expectations can be made from the results.
This paper investigates the preferences of manufacturers in deciding whether to locate in metropolitan or nonmetropolitan (rural) areas. Using 1997 state-level data and OLS regression estimation, it was determined that nondurable goods manufacturers prefer rural areas, while durable goods manufacturers are indifferent as to area. However, both sets of manufacturers prefer to locate in larger states. Wage rates are not significant in the regressions, while durable manufacturers appear sensitive to state taxes. Some policy conclusions for local economic developers are derived from these findings.
This note applies an input-output multiplier technique developed by Burford and Katz to analyzing the impact of potential "high technology" industries in a rural, four-state, thirteen county Midwestern region. By using the 1972 national input-output table coefficients and the Burford-Katz multiplier estimation formula, the estimated output impacts for fifty-one individual industries were calculated. The results indicate that within the four-state region, "conventional" industries would produce greater economic impacts than designated "high-tech" ones. This analysis could be performed rather easily for any other region in the U.S.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.