bluuebunny/crossref_metadata_2025_split huggingface dataset:
Co‐Integration
Authors: Banerjee Anindya , Dolado Juan J. , Galbraith John W. , Hendry David F. 
Published: October 2003

AbstractThe key concept of co‐integration of integrated time series is defined, and several examples are presented. An important theorem due to Granger on alternative representations of a system of co‐integrated variables is stated and its proof is sketched. The chapter then discusses the Engle–Granger two‐step procedure for estimating the parameters characterizing the co‐integrating relationship.
Co‐Integration in Systems of Equations
Authors: Banerjee Anindya , Dolado Juan J. , Galbraith John W. , Hendry David F. 
Published: October 2003

AbstractCo‐integration in systems of equations is analysed. Linear co‐integrated systems are expressed in error‐correction form and maximum likelihood estimation and inference for co‐integrating vectors are discussed, focusing on the approach proposed by Johansen (1988). Methods of finding the co‐integrating rank are considered and circumstances in which dynamic single‐equation methods will be equivalent to systems methods are demonstrated. The analysis is again illustrated by a number of applications and evidence from simulation experiments. Forecasting in co‐integrated systems is noted.
The Life of Adam Smith
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
Adam Smith (1723–90) was a Scottish moral philosopher, famous for writing the Wealth of Nations (WN: 1776), widely regarded as one of the foundation works of free‐market economics. He also contributed notably to ethics with his Theory of Moral Sentiments (TMS: 1759, 6th edn. 1790). The Introduction summarizes the biography, which depicts the personality and experience behind these books; their origin in studies at Glasgow and Oxford; then his teaching at Edinburgh and Glasgow; and their matrix in the cultural ferment of the Scottish Enlightenment, with its attention both to moral and natural science. The era of economic growth of Britain and political revolution in America and France is sketched in the background. Smith's legacy for legislators that the establishment of perfect justice, liberty, and equality is the ‘very simple secret,’ which secures prosperity for all, is presented as an ethical as well as economic ideal.
Kirkcaldy
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
Adam Smith was baptized on 5 June 1723 in the Fife seaport of Kirkcaldy, where his father, who died on 9 January 1723, had served as Comptroller of Customs. Father Adam Smith studied the liberal arts in Aberdeen, took legal training in Edinburgh qualifying him for estate management, and became secretary to a Campbell magnate. He hesitated about taking up a Customs post in Kirkcaldy, because his income there depended on volume of trade, which was falling off. However, he handled his money well, and married the daughter of a substantial Fife laird. His Will specified that his widow, Margaret Douglas, would get help in raising young Adam from guardians associated with intellectual and economic improvement in Scotland.
The Never to Be Forgotten Hutcheson
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
Smith's university studies at Glasgow are described: in Greek, introducing him to the Stoic philosopher Epictetus; Aristotelian logic and metaphysics, including Locke's empiricism; and Euclidian geometry and Newtonian physics, which had seminal lessons for him in methodology. Above all, the inspiration of the teaching of Francis Hutcheson is assessed, who seized Smith's imagination with his teaching of ethics and economics as part of his jurisprudence course. Hutcheson's development of moral sense and benevolence theory is highlighted, as providing a kind of moral Newtonianism, offering answers in ‘new light’ or liberal theology to the ‘old light’ Calvinist stress on human depravity, and in moral philosophy to the egoistic theory of Hobbes and Mandeville. Clearly, Smith received great intellectual stimulation at Glasgow, and his ability was recognized with the award of a scholarship to Oxford in 1740.
Oxford
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
Smith's experience at Balliol College was disappointing, since the dons he encountered were not interested in teaching, and their easy enjoyment of sinecures as Fellows did not encourage that competition for students, and therefore revenue, prevalent among the Glasgow professors, which kept them abreast of their subjects and in touch with the advances of Enlightenment thought, especially the New Philosophy of Locke and the New Science of Newton. Smith read widely on his own, in politics and modern languages, but with no one to supervise him, he seems to have overdone study and suffered a kind of nervous breakdown. He may have started reading Hume at this time, and been punished for doing so; certainly the religious orthodoxy of Balliol and the Jacobitism there, perhaps inflamed by the ’45 Rising’, must have repelled him, and he is reported to have left Oxford in 1746 ‘in disgust.’
Lectures on the History of Philosophy and Law
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
The strong Scottish Enlightenment interest in science created a market in Edinburgh for information about this subject, and Smith responded by providing a course that included the history of astronomy. A key part was a theory of theorizing or system building, with a system identified as an ‘imaginary machine’ invented to provide a coherent pattern of cause and effect in phenomena. His major works presented systems on this model in ethics and economics. WN's free‐enterprise system was foreshadowed in a third course given at Edinburgh on jurisprudence, in which Smith traced the development of law, and argued that humanity could evolve from barbarism to opulence, through enjoying peace, moderate taxes, also minimal justice, and reliance on the natural course of things.
Publishing Scholar and Administrator
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
Smith understood that as a professor he was required to publish his work and help administer his University. While his reputation for absent‐mindedness grew, his Glasgow colleagues benefited from his sound practical bent and entrusted him with a wide range of university management issues. As for publishing, he began by contributing to the two numbers of the first Edinburgh Review: commenting on Johnson's Dictionary in 1755; and in 1756, on d’Alembert's Encyclopédie, also on Rousseau's Discourse on Inequality, whose argument about self‐love as an economic driving force he took up in TMS and WN. Following the publication of TMS in 1759, Smith concentrated more on political economy, also began work on the long process of the composition of WN, adding to his system lessons learned from a banking crisis in Scotland as his professorship came to an end in 1764.
Inquirer into the Wealth of Nations
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
Returning to London in November 1766, Smith spent the next six months as an adviser to Buccleuch, and engaged in government research projects on taxation and management of the Sinking Fund intended to reduce public debt. Other assignments were inquiries into Pacific exploration and the history of Roman colonies as a guide, perhaps, to problems in North America. Buccleuch married in May 1767 and Smith spent the next seven years in Kirkcaldy, struggling with bouts of ill health and the perplexing task of composing WN to his satisfaction. Correspondence of this period reveals that Smith was absorbing new information about grain prices and values of silver, with a view to improving his economic system, through refining its self‐correcting feature governed by the price mechanism, in which rents, wages, and profits are detailed as the factors of production.
The American Crisis and The Wealth of Nations
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
From 1773 until 1776, Smith remained in London ‐adding finishing touches to WN, whose publication was timed to seize Parliament's attention, and influence Members to support a peaceful resolution of the conflict with the American colonies. North America offered a major point of application for free‐market theory, and if Smith could win supporters, there was some hope of ending the cycle of violence induced by efforts to preserve the old colonial system involving economic restraints and prohibitions. Smith advocated the creation of an Atlantic union, which would accommodate economic dynamism, develop new political institutions, and allow a place for the revolutionary spirit to be exercised. He foresaw that the pace of American economic growth would inevitably guarantee that leadership would pass from Britain to the former colonies. On an entirely different front at this period, Smith, in commenting on a proposal for reform in university medical education, revealed the strength of his endorsement of competition and detestation of monopolies of any kind.
Dialogue With a Dying Man
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
Smith was devoted in his attentions to Hume as he lay dying, but, ever the man of prudence, gave his best friend some pain through unwillingness to see through the press the Dialogues concerning Natural Religion. In the event, Smith was violently abused by Christians for describing Hume in a published letter as approaching as near to the idea of a ‘perfectly wise and virtuous man’ as human weakness permits. Smith would have been in further trouble if his 1778 Machiavellian advice about a solution to the American problem had been published, for it advocated returning Canada to the French, and Florida to the Spaniards, to ensure that independent Americans would become allies of Britain.
Settlement in Edinburgh
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
Smith moved from Kirkcaldy to Edinburgh late in 1778, after his appointment as a Commissioner for managing His Majesty's Customs in Scotland. We may think it a paradox that this prominent advocate of free trade should end up enforcing the mercantile system, but there was a family tradition of Customs service, and while WN does attack restraints on some branches of trade and encouragement for others, especially in the form of monopolies, Smith was not an across the board economic libertarian. He urged that there were reasons of state, as well as economic considerations, for implementing an efficient collection of moderate duties on imports and exports. In Edinburgh, Smith regularly entertained the intelligentsia and their visitors at a Friday Club and Sunday suppers.
Literary Pursuits
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
Smith expressed regret in 1780 that his Custom‐house duties held up ‘Several Works’ he had projected. One of these was on the subject of the ‘Imitative Arts,’ presumably his mimetic aesthetic philosophy. This was very likely connected with the two ‘Great Works’ he had ‘on the anvil’ on 1785. He described the first one as a ‘sort of Philosophical History of all the different branches of Literature, of Philosophy, Poetry, and Eloquence.’ The second he described as a ‘sort of theory and History of Law and Government,’ which presumably would have included the ‘system of jurisprudence’, Smith promised his readers at the conclusion of TMS in 1759. He reported in 1785 that the materials collected were in tolerably good order, but he doubted whether the onset of old age would allow him to finish either work. Parts of the first project were published after his death in Essays on Philosophical Subjects (EPS: 1795), the only book of his that was not a commercial success. His major efforts of the end of his life went into further editions of TMS and WN, which he had in hand by 1783, in part responding to his critics.
Legacy for Legislators
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
Smith was not optimistic about his free‐trade policy advice being readily accepted, as prejudice and special interests stood in the way, but he must have been gratified that his views received favourable attention by some of Britain's leaders, and that translations of his great work were stirring the minds of French inquirers into political economy and supporters of the coming revolution. In Germany, the reception of his ideas was marked by translations, reviews, assimilation into university teaching, then popularizations, and afterwards the fertilization of original thoughts about economics with application to the problems of the German‐speaking lands, stages that were paralleled across the globe. In 1787, Smith received the honour that gave him the greatest pleasure of his life: election as Rector of Glasgow University.
The Precariousness of This Life
Authors: Ross Ian Simpson 
Published: October 2003

Abstract
From April to July, 1787 Smith was in London receiving medical attention and conferring with the government about fiscal and commercial reforms that allowed Britain to recover from the strains of the American war. On his return to Edinburgh in somewhat restored health, he set about preparing a greatly expanded sixth edition of TMS. This developed further the concept of the impartial spectator, and included an entirely new part VI, focused on moral theory applicable to such crucial issues as new‐modelling a political constitution, highly relevant in view of the revolutions in America and France. He also added a chapter arguing that while our disposition to admire the rich and powerful is necessary to maintain the ‘order of society,’ it is the most universal cause of the ‘corruption of our moral sentiments.’ His Stoic outlook thus affords him a standpoint for criticism of the mechanisms of the acquisitive society analysed in WN, but at the same time, he suggests that the contemporary literature of sensibility dealing with love and friendship does more for us than the arguments for ‘stoical apathy.’
Consumption and Permanent Income
Authors: Deaton Angus 
Published: October 2003

AbstractDiscusses the permanent income hypothesis and the mechanisms by which consumption smoothing responds to short‐run changes in income. It also reviews the role played by income and expectations in transmitting fluctuations through the economy. The chapter considers detailed econometric evidence on the excess sensitivity of consumption to present and lagged changes in income. Explanations involving non‐stationary income, the timing of consumption, durables, and habit formation are critically evaluated.
Poverty in Palanpur
Authors: Lanjouw Peter , Stern Nicholas 
Published: October 2003

AbstractThis chapter studies poverty in Palanpur. The meaning of poverty based on a notion of low annual income is contrasted with that based on a notion of lifestyle and readily observed means. A profile of the poor is developed. The evolution of poverty levels and the profile of poverty over time is documented. Income mobility in the village as a whole, and amongst agricultural labourers in particular, is studied.
Casual Labour
Authors: Mukherjee Anindita 
Published: October 2003

AbstractDiscusses the basic features of casual labour in Palanpur. Various aspects of labour contracts are highlighted. The isolation of the labour market is emphasized, and the absence of labour tying and inter‐linkage is noted. A variety of systems of payments are described and seasonal unemployment is studied. The findings from the Palanpur study are compared with those from other village studies in India.
Tenancy
Authors: Sharma Naresh , Drèze Jean 
Published: October 2003

AbstractPresents an analytical description and interpretation of tenancy in Palanpur. The basic features of tenancy in Palanpur are highlighted. The incidence of tenancy and the prevailing types of tenancy contracts are described. The relationship between landlords and tenants is studied. The persistence and efficiency of sharecropping is analysed. The differential access to land of skilled farmers is investigated in an appendix.
Credit
Authors: Drèze Jean , Lanjouw Peter , Sharma Naresh 
Published: October 2003

AbstractThis chapter studies the credit market in Palanpur. Credit sources in the village are analysed and it is shown that the market in Palanpur is highly segmented. Both public and private sources of credit are studied, and it is shown that even within these broad categories, segmentation exists. Each segment of the credit market is studied in detail. The evolution and determination of interest rates are discussed. Access to credit by the poor is analysed and their dependence on moneylenders is documented. Findings are compared with those from other village studies in India.
An Inquiry into Well-Being and Destitution
Authors: Dasgupta Partha 
Published: October 2003

AbstractThis book deals comprehensively with the problem of poverty and undernourishment, and addresses the debate over methods of estimating their incidence. It is an analytical and empirical inquiry into human well‐being and the phenomenon of destitution as it occurs among rural populations of the poor countries of Asia, Africa, and Latin America. A central concern has been to reconcile theoretical considerations with empirical work in several disciplines—anthropology, demography, ecology, economics, epidemiology, geography, moral and political philosophy, and the environmental, nutrition, and political sciences. The discussion aims to provide a political philosophy for human well‐being that can guide public policy in poor countries. Thus, the role of the state, communities, households, and individuals is studied in detail. The book is arranged in four parts: I, Well‐being: theory and realization; II, Allocation of resources among households: the standard theory; III, The household and its setting: extensions of the standard theory; and IV, Undernourishment and destitution. It is suitable for general readers interested in applied political and moral philosophy, for social scientists (especially academics in the fields of development and welfare economics, general economic theory, and anthropology), and for nutrition scientists, policy makers, commentators, and research staff.
Political Morality and the State
Authors: Dasgupta Partha 
Published: October 2003

AbstractPublic morality is discussed in relation to the state in six sections: (1) the government as an agency; (2) acts and their consequences (consequentialist and deontological theories); (3) utility (used as a term interchangeable with welfare) and rights: public judgements and aggregative evaluations of well‐being ; (4) commodity needs; (5) freedom and rights: positive and negative; and (6) impersonality and the public sphere.
Decentralization and Central Guidance
Authors: Dasgupta Partha 
Published: October 2003

AbstractThe main part of this chapter discusses decentralization and central guidance in relation to resource allocation. There are seven sections: (1) competitive mechanisms in the private realm; (2) the existence of competitive equilibrium; (3) competitive markets and efficiency; (4) the implementation of just allocations in the private realm; (5) pluralism and exchange restrictions (exchange control) in the public realm; (6) producer versus consumer taxation; and (7) national income in a pluralist society. An extra and separate section (designated Chapter *7) gives a theoretical presentation on real national income as a measure of general well‐being.
Real National Income as a Measure of General Well‐Being
Authors: Dasgupta Partha 
Published: October 2003

AbstractThe main part of this chapter discusses decentralization and central guidance in relation to resource allocation. There are seven sections: (1) competitive mechanisms in the private realm; (2) the existence of competitive equilibrium; (3) competitive markets and efficiency; (4) the implementation of just allocations in the private realm; (5) pluralism and exchange restrictions (exchange control) in the public realm; (6) producer versus consumer taxation; and (7) national income in a pluralist society. An extra and separate section (designated Chapter *7) gives a theoretical presentation on real national income as a measure of general well-being.
Uncertainty, Insurance, and Social Norms
Authors: Dasgupta Partha 
Published: October 2003

AbstractThis chapter introduces the factor of environmental uncertainty into the consideration of resource allocation mechanisms. It has seven sections: (1) environmental uncertainty; (2) choice under uncertainty and risk aversion; (3) avoiding disasters; (4) trading in risks: pooling and spreading; (5) correlated risks in agriculture; (6) reciprocity as a social norm in stationary environments; and (7) overlapping generations and the transmission of resources.
Households and Credit Restraints
Authors: Dasgupta Partha 
Published: October 2003

AbstractThe main part of this chapter discusses the characteristics of the peasant household in terms of land, labour, savings, and credit. It has ten sections: (1) the peasant household (which is normally land owning); (2) credit constraints and the organization of production—using family or hired labour; (3) moral hazard, wage labour, and tenancy (the predominating forms are fixed‐rental contracts and sharecropping or metayage); (4) village enclaves as production units; (5) land, labour, and credit markets: observations on rural India; (6) agrarian relations in sub-Saharan Africa; (7) consumption as investment; (8) lack of credit among the assetless; (9) consumption smoothing; and (10) unemployment. An extra and separate section (designated Chapter *9) gives theoretical presentations on four aspects of households and credit constraints. These are (1) a model of the peasant household; (2) the precautionary motive for saving; (3) credit, insurance, and agricultural investment; and (4) why may credit be rationed.
Axiomatic Bargaining Theory
Authors: Dasgupta Partha 
Published: October 2003

AbstractThe main part of this chapter discusses the household as an allocation mechanism. It has eight sections; (1) gender differentials among adults; (2) allocations among girls and boys; (3) bridewealth and dowry; (4) regional patterns of household allocations: the case of India; (5) marriage and inheritance in India; (6) bargaining theory as a framework for household choice; (7) the Nash programme: a formalization; and (8) bargaining versus maximization of well‐being within the household. An extra and separate section (designated Chapter *11) gives theoretical presentations on two aspects of the axiomatic bargaining theory: (1) the Nash bargaining solution; and (2) the Kalai–Smorodinsky bargaining solution.
Fertility and Resources: The Household as a Reproductive Unit
Authors: Dasgupta Partha 
Published: October 2003

AbstractThe main part of this chapter discusses the household as a reproductive unit. It has nine sections: (1) income, fertility, and food – a discussion of the inverse relationship between fertility (and mortality) rates and income, and of population growth in relation to the (finite) environmental resource base; (2) the population growth problem; (3) population externalities: household versus societal reasoning; (4) birth control and female education; (5) children as consumer and insurance goods; (6) environmental degradation, and children as producer goods; (7) some special features of sub‐Saharan Africa; (8) modelling fertility decisions; and (9) allocation failure and public policy. An extra and separate section (designated Chapter *12) gives theoretical presentations on two aspects of strategic complementarities in fertility decisions: (1) atmospheric externalities; and (2) Nash equilibria.