Economics

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Start date: 1970End date: 1979

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    A Monetary Base Analysis and Control Model for Turkey
    (1976) Gursel, Haluk Ferden; Bennett, Robert L.; Economics; Digital Repository at the University of Maryland; University of Maryland (College Park, Md)
    A monetary base analysis and control model is the focus of the paper. In the first chapter, the monetary base approach is presented and the links between monetary base, money supply and money income are shown. Further, the monetary policy problems of the developing countries are reviewed. The second chapter describes the institutional framework for Turkey. Here, as background information, the Central Bank, the Treasury and the State Economic Enterprises are examined from a monetary policy viewpoint. Also the stability of prices, the credit system, interest rates, money and security markets and foreign sector developments in recent decades are summarized. In the third chapter, the model which highlights the essentials of monetary base control is constituted. Here, the "direct" control of reserve money sources is suggested, and given the exogenously determined components of reserve money sources, the limits on the range of deliberate Central Bank-Treasury asset changes, through exchange rate, rediscount rate, open market interventions, etc., are estimated. The recommended use of the policy variable defined is explained in the last chapter.
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    Path Curves and Plant Buds: an Introduction to the Work of Lawrence Edwards
    (International Institute for Applied Systems Analysis, 1979-07) Almon, Clopper
    Lawrence Edwards has shown that many flowering plants have buds with an outline in the form of a path curve, the curve that a point follows under repeated projective transformation of the plane into itself. Edwards, however, did not give a formula for these curves nor did he fit the curves by the standard method of least squares. This paper gives an elementary exposition of the method used by Edwards, shows its relation to projective geometry, and then uses homogeneous coordinates, linear differential equations and characteristic values and vectors of a matrix to derive the formula for path curves. This formula is then used to fit path curves by least squares to data provided by Edwards for the buds of 150 plants. Most buds are fit very closely.