"Foreign Aid and the Question of Fungibility
," Review of Economics and Statistics, 75, 1994, pp.
As noted earlier, for commercial banks the fungibility
of funds, coupled with asset powers that are wider than thrifts', weakens the link between FHLB advances and housing finance.
The 1980s budget reform also aimed at facilitating greater fungibility
In Part I, preliminary to my main argument, I show that the effects test actually resolves itself into two tests, which I call the "incentive" and "fungibility
" tests, and it is over how to apply them in any given case that aid proponents and opponents divide.
investment/GDP ratio has risen from about twelve percent in 1991 to roughly twenty percent in 1999.) However, the fungibility
of financial flows renders the alleged connection tenuous.
Remaining limitations on the fungibility
of all STRIPS maturing on a common date.
That sort of thing happened over and over again, as the comandantes made economic terms like fluidity and fungibility
and globalization spring to life in a way that my college economics textbooks never could.
In their paper focusing on the family mode of production and the theoretical concept of fungibility
through two family case-studies of the Indonesian transmigration programme, Leinbach and Del Casino illustrate the rural family's flexible and strategic use of family resources for family survival and improvement over time and the family's different life-cycle stages.
They point out the two major problems with conditioned aid: enforcing the established conditions (recipient countries have found it easy to fudge policies to hide noncompliance) and fungibility
of money (it is difficult to ensure that assistance is not used for purposes that run counter to the reform objectives it is designed to support).
According to North, The Narcissus is for Conrad a mobile, polyglot linguistic community in which language properly belongs only to "linguisters," castaways whose position between the cultures they translate gives them insight into the infinite fungibility
A characteristic of money in unrestricted fund accounts is its fungibility
; money from a source such as Pell grants can be offset by a change in an unrestricted source, like institutional student-grants.
(This was known as the principle of fungibility
.) As a result, the Bank added programme lending - that is, lending in support of overall development programmes or overall sectoral programmes - to its traditional armoury of project lending.
For teaching purposes (and this book can be highly recommended for classroom use), another interesting discussion question arises from economists' beliefs in universal laws and the total fungibility
of their own policy recommendations (pp.
Laqueur writes at length about ideas on the "fungibility
of fluids." See especially pp.
Modelling liquidity constraints is far from easy, but it would be expected that if they were important then there would be a role for current income growth in explaining current consumption growth (when various statistical problems such as correlation with the residuals are overcome) and that the coefficients on assets would vary according to their fungibility
. For example, a liquidity-constrained consumer will be able to consume out of bank deposits but may not be able to tap the spending power of illiquid assets such as housing.