Background
Taylor, Lester Dean was born on March 8, 1938 in Toledo. Son of Samuel George and Willa Emma (Brown) Taylor.
( A classic treatise that defined the field of applied de...)
A classic treatise that defined the field of applied demand analysis, Consumer Demand in the United States: Prices, Income, and Consumption Behavior is now fully updated and expanded for a new generation. Consumption expenditures by households in the United States account for about 70% of America’s GDP. The primary focus in this book is on how households adjust these expenditures in response to changes in price and income. Econometric estimates of price and income elasticities are obtained for an exhaustive array of goods and services using data from surveys conducted by the Bureau of Labor Statistics and aggregate consumption expenditures from the National Income and Product Accounts, providing a better understanding of consumer demand. Practical models for forecasting future price and income elasticities are also demonstrated. Fully revised with over a dozen new chapters and appendices, the book revisits the original Houthakker-Taylor models while examining new material as well, such as the use of quantile regression and the stationarity of consumer preference. It also explores the emerging connection between neuroscience and consumer behavior, integrating the economic literature on demand theory with psychology literature. The most comprehensive treatment of the topic to date, this volume will be an essential resource for any researcher, student or professional economist working on consumer behavior or demand theory, as well as investors and policymakers concerned with the impact of economic fluctuations.
http://www.amazon.com/gp/product/144190509X/?tag=2022091-20
(Telecommunications Demand in Theory and Practice, which b...)
Telecommunications Demand in Theory and Practice, which builds upon the author's seminal 1980 book, Telecommunications Demand: A Review and Critique, provides comprehensive analyses of the determinants and structure of telecommunications demands in the United States and Canada. Theory and empirical application receive equal emphasis with a heavy focus on the developments and econometric research since the divestiture of AT&T in 1984. For the first time, a detailed theoretical analysis of business telecommunications demand on subscriber and usage consumption externalities is presented. Telecommunications Demand in Theory and Practice is without peer in the documentation and analysis of price elasticities of demand for telecommunications services. This new book also includes a comprehensive bibliography with over 500 entries related to telecommunications demand and pricing. Telecommunications Demand will appeal to both academic and consulting economists, telecommunications industry analysts and regulators, and to teachers of courses in applied econometrics and regulated industries.
http://www.amazon.com/gp/product/0792323890/?tag=2022091-20
(Capital, Accumulation, and Money: An Integration of Capit...)
Capital, Accumulation, and Money: An Integration of Capital, Growth, and Monetary Theory is a book about capital. A root concept of capital is developed which allows for most existing concepts of capital to be unified and related to one another in consistent fashion. Such a root concept of capital offers a framework for integrating monetary and capital theory, and for analyzing the functioning of an economy, whether that economy is in a steady state of subsistence or in a process of sustainable growth. Specifically, it is shown that a conservation principle emerges that both implies and imposes a variety of constraints on the macro behavior of an economy, constraints which make for straightforward understanding and analysis of such concepts as the real stock of money, real-balance effects, and the general price level. New and illuminating insights are also provided into aggregate supply and demand, natural and money rates of interest, the relationship between real and monetary economies, and economic growth and development.
http://www.amazon.com/gp/product/0792377818/?tag=2022091-20
(Capital, Accumulation, and Money: An Integration of Capit...)
Capital, Accumulation, and Money: An Integration of Capital, Growth, and Monetary Theory is a book about capital and money. A root concept of capital is formulated that allows for most existing concepts of capital to be unified and related to one another in consistent fashion. Capital and monetary theory are integrated in a non-mathematical framework that imposes a number of constraints on the macro behavior of an economy, constraints which make for the straightforward understanding of such concepts as the real stock of money, real-balance effects, and the general price level. New and illuminating insights are also provided into aggregate supply and demand, natural and money rates of interest, the relationship between real and monetary economies, and economic growth and development. This fully expanded, revised, and updated edition features important new material on a variety of timely topics, including: * Factors leading to the financial meltdown and turmoil of 2007-09; * Why bubbles form in asset markets and how these impact on the real economy; * The importance of a lender-of-last-resort in times of financial stress; * Future financing and funding of the U. S. Social Security System. Additionally, the author offers a number of ideas for alleviating the severity, if not the avoidance altogether, of financial crises in the future. This is a book for those -- students (both graduate and undergraduate) and their teachers, investors, and the informed public -- who want an understanding of how economies and financial markets function, without an advanced degree in mathematics.
http://www.amazon.com/gp/product/1489990771/?tag=2022091-20
Taylor, Lester Dean was born on March 8, 1938 in Toledo. Son of Samuel George and Willa Emma (Brown) Taylor.
Bachelor of Arts University Iowa, 1960. Doctor of Philosophy Harvard University, 1963.
Instructor, Harvard University. Assistant Professor, Harvard University, Staff Economics, United States President's Council Economics Advisers, 1964-1965. Adviser, Harvard Development Advisory Service, Bogotá, Colombia, 1967-1968. Association Professor, University Michigan, 1969-1974. Visiting Professor, University Arizona, 1972-1973.
Professor of Economics, University Arizona, Tucson, Arizona, United States of America, since 1974.
Association Editor, Review of Economics and Statistics, J Consumer Research.
(Telecommunications Demand in Theory and Practice, which b...)
( A classic treatise that defined the field of applied de...)
(Capital, Accumulation, and Money: An Integration of Capit...)
(Capital, Accumulation, and Money: An Integration of Capit...)
Author: (with High School Houthakker) Consumer Demand in the United States, 1966, 2d. Review edition, 1970, 3rd edition, 2010, Telecommunications Demand in Theory and Practice, 1980, second edition, 1994, Capital, Accumulation and Money, 2000, 2nd edition, 2010.
Research interests have focussed on the theory and measurement of consumer demand, aggregate consumption and saving, pricing policies in the regulated industries, and econometric and statistical techniques. Current interests include the reformulation of money and capital theory fusing Keynes and Schumpeter (I believe post-Keynesians are correct in their interpretation of Keynes, but wrong in their policy prescriptions. No one has attempted to show the basic similarities of the interest and capital theories of Keynes and Schumpeter) and the development of a dynamic theory of consumer choice in association with a believable psychology of human motivation.
The opponentprocess models of the psychologist Richard Solomon and his followers provide my present point of departure for the latter research.
Member American Economic Association, Econometric Society, Phi Beta Kappa.
Art, golf, coin collecting/numismatics.
Married Carol Austin, August 13, 1966 (divorced May 1980). Children: James, Rebecca.