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The paper focuses on financial institution liquidity planning using the chance-constrained method. It states that modern reserve theory is a mixture of elements from the reserve position doctrine and a "profitability" doctrine emphasizing comparisons between different asset relative yields, and the costs of different types of borrowing. It demonstrates and analyzes a chance-constrained model with linear decision rules. It mentions that deterministic programming techniques have been successful for analyzing financial budgeting problems. It comments on the absence of interest costs of borrowing in the list of causal factors that determine the free liquidity optimal holdings of the associations.

The article offers information on the U.S. scholarship that adopted Foucauldian model of power, offering the means of critiquing the master's house and of keeping the foundations and walls intact. It mentions that the history had the cultural imprimatur of most objective of humanist disciplines, and literary studies .

• Households containing at least one member with a disability are more likely to obtain food from food pantries, and less likely to purchase food at wholesale clubs, compared to households that do not contain members with disabilities. • However, food store choice – serving as a proxy for food access – is, at most, a minor mechanism linking disability status to higher rates of food insecurity. • Reasons for substantially higher rates of food insecurity among people with disabilities continue to remain unclear. Disability is a known risk factor for food insecurity, even when accounting for household income. However, the mechanisms driving the relationship between disability and food insecurity remain underexplored. Using the National Household Food Acquisition and Purchase Survey, I test the extent to which food store choice (representing food access) mediates the association between disability and food insecurity in the United States. The analysis is complicated by the notion that food insecurity also influences food store choice. Nevertheless, multivariate regression findings suggest that food access is not a significant driver of high rates of food insecurity among households where disabilities are present. [ABSTRACT FROM AUTHOR]

Focuses on ways to measure hedge effectiveness for Financial Accounting Standard No. 133 compliance in the U.S. Use of derivatives for risk management; Distinction between hedging and speculation; Descriptive statistics of daily futures and spot price returns; Dollar offset ratio.

A model for measuring the efficiency of Decision Making Units (= DMU's) is presented, along with related methods of implementation and interpretation. The term DMU is intended to emphasize an orientation toward managed entities in the public and/or not-for-profit sectors. The proposed approach is applicable to the multiple outputs and designated inputs which are common for such DMU's. A priori weights, or imputations of a market-price-value character are not required. A mathematical programming model applied to observational data provides a new way of obtaining empirical estimates of extremal relations -- such as the production functions and/or efficient production possibility surfaces that are a cornerstone of modern economics. The resulting extremal relations are used to envelop the observations in order to obtain the efficiency measures that form a focus of the present paper. An illustrative application utilizes data from Program Follow Through (= PFT). A large scale social experiment in public school education, it was designed to test the advantages of PFT relative to designated NFT (= Non-Follow Through) counterparts in various parts of the U.S. It is possible that the resulting observations are contaminated with inefficiencies due to the way DMU's were managed en route to assessing whether PFT (as a program) is superior to its NFT alternative. A further mathematical programming development is therefore undertaken to distinguish between "management efficiency" and "program efficiency." This is done via procedures referred to as Data Envelopment Analysis (= DEA) in which one first obtains boundaries or envelopes from the data for PFT and NFT, respectively. These boundaries provide a basis for estimating the relative efficiency of the DMU's operating under these programs. These DMU's are then adjusted up to their program boundaries, after which a new inter-program envelope is obtained for evaluating the PFT and NFT programs with the estimated managerial inefficiencies eliminated. The claimed superiority of PFT fails to be validated in this illustrative application. Our DEA approach, however, suggests the additional possibility of new approaches obtained from PFT-NFT combinations which may be superior to either of them alone. Validating such possibilities cannot be done only by statistical or other modelings. It requires recourse to field studies, including audits (e.g., of a U.S. General Accounting Office variety) and therefore ways in which the results of a DEA approach may be used to guide such further studies (or audits) are also indicated. [ABSTRACT FROM AUTHOR]

A goal programming model for planning officer accessions to the U.S. Navy from various commissioning sources is developed and described. Present and future requirements for different career specialty areas in the Navy are considered in terms of years of commissioned service and related to various "choke points" where inventories fall short of requirements in officer force structure. An illustration of the use of this model is provided which involves assessments of the effects of phasing out one comissioning source. Other uses and possible further extensions are also indicated for this model, which now forms a part of the Navy's manpower planning procedures. [ABSTRACT FROM AUTHOR]

The recently implemented court decision to break up Bell (= American Telephone & Telegraph Co.) to accord with U.S. anti-trust laws represents a highly significant policy decision which is proving to be influential in other countries as well as the U.S. The telecommunication industry is of such size and importance that even relatively small economies that might be lost with Bell's breakup as a "natural monopoly" could involve substantial welfare losses to consumers and producers. Studies commissioned by the U.S. Justice Department that approached this topic by econometric methods reported that the evidence failed to support the contention that Bell was a natural monopoly. Here a goal programming/constrained regression, as developed in the Management Science literature, uses the same functional form and the same data but nevertheless reverses the main findings of the econometric studies in every one of the 20 years covered. This kind of difference in results obtained by two different methods of analysis points up a need for drawing on persons from different disciplines who are capable of checking each other's methodologies when important policy decisions may be influenced by results that depend on the methodologies that these disciplines customarily use. Advantages of doing this are further illustrated by data deficiencies that escape detection by the econometric methods employed in the Justice Department-commissioned studies. [ABSTRACT FROM AUTHOR]

This paper is concerned with formulating, exploring and interpreting the uses and constructs which may be derived from a mathematical model of programming type which expresses more realistically than past efforts the actual conditions of current operations. It is an attempt to provide a means of attaining thereby an objective understanding of the implications of actual Federal Reserve liquidity policy on the actions and opportunities of banking institutions. The model presented corresponds to the problem of determining an optimal portfolio for an individual bank over several time periods in accordance with requirements laid down by bank examiners which are interpreted as defining limits within which the level of risk associated with the return on the portfolio is an acceptable one. The problem is transformed into an equivalent one offering advantages of analysis and of computation. Some methods of effective computation are explored. [ABSTRACT FROM AUTHOR]

This article focuses on the Silhouette Functions of short-run cost behavior to evaluate variations in the U.S. market conditions. It is proposed to construct a simple cost model by introducing certain plausible dynamic elements. This will be done in such a way as to secure congruence both with the nonlinear functions employed in economic analysis and with the types of cubic cost functions employed in these statistical investigations. There has been to date little precise theorizing about such empirical findings. Common-sense references to subjective costs, or to the fact that the firms studied were operating under dynamic conditions constitute only a bare beginning of the task at hand. This task may take either of two general directions: first, plausible explanations may be adduced which square with both empirical findings and properties which other parts of economic theory require of such functions; or second, a general reorganization may be undertaken of that part of economic analysis which rests on these properties.

Focuses on the life and works of professor Abraham Charnes in the U.S. Dedication to the truth, to knowledge and to science; Reverence to great teachers, great thinkers and researchers; Loyalty in his relationship at work and in his private life.