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Official Reserve Management

Paul De Lancey, one of our nation's harmless and likable economists 

   Don't read on unless you are an economist. Go back to the other links for the funny, readable novels.

    Well, you were warned.

    In my rambunctious days as a feral Ph.D. candidate in Economics at the University of Wisconsin I wrote a book, Official Reserve Management and Forecasts of Official Reserves. In it, I often composed such stirring stuff as:

    "I3SLS represents an improvement on 3SLS because, in this method, the residuals from the estimated three-stage least squares equations are used to obtain new estimates of the covariance matrix of the structural disturbances. With these estimates, 3SLS is employed again, and so on. I3SLS has the same asymptotic properties as ordinary three-stage least squares estimates and is used below."

    Makes you want to remember the Alamo and avenge Pearl Harbor, doesn't it?

    Please take a look at the fine, funny parts of this website.