Journal Article The Pasinetti Paradox Revisited Get access B. J. Moore B. J. Moore Wesleyan University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 41, Issue 2, April 1974, Pages 297–299, https://doi.org/10.2307/2296719 Published: 01 April 1974

Using a unique set of banking data containing both originally-reported and subsequently-revised financial variables, we study accounting restatements. Our results indicate the worse a bank's financial condition, the more likely it is for originally-reported data to understate financial losses. Also, we find supervisory exams have an important role in uncovering financial problems and prompting accounting restatements to correct loss underreporting. While revisions are directly related to financial difficulties, exam-based restatements are evident at even the earliest stages of deterioration, indicating substantial accounting misstatements—at both banks and other types of companies—can occur well outside severe business circumstances.

We provide evidence that equity investors are slow to process information about how current oil price changes affect future earnings announcements. Stock prices respond to lagged quarterly oil price changes when firms start announcing earnings in the next quarter. A cross-sectional equity trading strategy that exploits this predictability yields an annualized Sharpe ratio of 0.50. Our oil-response forecast strategy earns especially high returns after large absolute oil price changes, in recessions or bear markets, and during peak earnings season. The predictability we document is consistent with limited attention, is not driven by risk factor exposure, and survives several robustness tests.

Journal Article Economies of Scale: Some Statistical Evidence: Reply Get access Frederick T. Moore Frederick T. Moore The RAND Corporation, Washington, D.C. Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 74, Issue 3, August 1960, Pages 497–499, https://doi.org/10.2307/1883064 Published: 01 August 1960

I. Statement of the problem, 232. — II. The evidence from some previous studies, 233. — III. The “.6 factor” rule and its application, 234. — IV. Specific evidence in a selection of metal processing and chemical industries, 236. — V. Studies of selected mineral industries, 239. — VI. Conclusions, 242.

Simple and complex demand functions, 587. — An index number of oscillations of most probable prices, 591. — Price oscillations in relation to partial flexibilities of prices, 592. — A clue to periodic oscillations or cycles, 593. — Conclusions, 594.

Introduction, 1. — Walrasian equations, 3. — Partial elasticity of demand, 9. — Partial elasticity of supply, 15. — Coefficients of production, 17. — A moving general equilibrium, 23. — Economic oscillations, 26. — Conclusions, 28.

Elasticity of demand and flexibility of prices, 394. — Equations to simple demand curves, 395. — Partial flexibility of prices, and partial elasticity of demand, 396. — Equations to demand functions revealing the partial elasticities and partial flexibilities, 398. — Conclusions, 400.

Elasticity of demand and flexibility of prices. — Relative cost of production and relative efficiency of organization, 359. — Laws of relative cost and relative return as contrasted with laws of cost and laws of return, 360. — Typical equations to the law of supply, 364. — The statistical derivation of the law of supply, 367. — A moving equilibrium of demand and supply, 368.

The major features of economic cycles are traceable to three primary laws: (1) the law of the generating cycle of raw materials, which is due to a non-economic cause; (2) the law of demand for raw materials, in consequence of which the generating cycle of products originates a derived cycle of prices for raw materials; and (3) the law of competitive price, according to which the prices of finished goods in an open market tend to correspond with the cost of production. Correlation of crop yields and crop prices, 218. — Generating cycles of products. 224. — The derived cycle of prices, 226. — Cycles in the products of mines, 228. — Cycles in raw materials, 231. — Concluding observations, 233.