Monopoly: a game economists love to play--badly!(2003
Presidential Address)
When I started in this profession as a southern economist, now
nearly four decades ago, I never imagined that I would one day have this
opportunity. And it is a distinct opportunity. Not only do I . . .
Comparing student achievement across experimental and
lecture-oriented sections of a principles of microeconomics
course.(Target
1. Introduction
The 2002 Nobel Memorial Prize in Economic Sciences was awarded to
Vernon Smith "for having established laboratory experiments as a
tool in empirical economic analysis." (1) . . .
The Emancipation Proclamation, Confederate expectations, and the
price of Southern bank notes.
1. Introduction
In 1862, the Northern war effort floundered in the East. Stonewall
Jackson threatened Washington, McClellan's peninsular campaign
stalled, and the North suffered its second defeat . . .
The impact of macroeconomic announcements on stock prices: in
search of state dependence.
1. Introduction
Federal bureaus make regularly scheduled public announcements of
macroeconomic variables such as employment, the price level, and the
money stock. The impact of these . . .
A dynamic analysis of the global timber market under global
warming: an integrated modeling approach.
1. Introduction
Scientists and policymakers alike are concerned about global
warming caused by the accumulation of carbon dioxide in the atmosphere.
A significant number of studies have built . . .
Beneficial inequality in the provision of municipal services: why
rich neighborhoods should get plowed first.
1. Introduction
Local governments play an important role in the day-to-day life of
Americans. They provide education, garbage collection, police
protection, and many other fundamental services . . .
A classroom unemployment compensation experiment.(Targeting
Teaching)
1. Introduction
This experiment can be used in an introductory undergraduate
macroeconomics course as a hands-on demonstration of the effects of
unemployment compensation. During the course of . . .
Legal minimum wages and employment duration.
1. Introduction
The effect of a legal minimum wage on employee turnover is an
important consideration when evaluating the effectiveness of a minimum
wage policy. If an increase in the minimum . . .
The impact of minimum wages on job training: an empirical
exploration with establishment data.
1. Introduction
Human capital theory suggests that workers must contribute toward
investments in job training and that one way in which they might do so
is through reduced wages (Becker 1964). . . .
U.S. states, the Medicaid program, and tax smoothing.
1. Introduction
The result that tax rates over time should be equalized, the theory
of "tax smoothing," has been obtained in several settings,
including Barro (1979), Kydland and Prescott (1980), . . .
The Economics of the World Trading System.(Book Review)
By Kyle Bagwell and Robert Staiger. Cambridge, MA: MIT Press, 2003.
Pp. xiii, 224. $29.95.
The World Trade Organization (WTO) and its predecessor, the General
Agreement on Tariffs and Trade . . .
Spatial monopoly with product differentiation.
1. Introduction
In the literature on spatial monopoly, it is common to assume that
the firm produced (or sold) only one good. This assumption, however,
departs from the real world. It is . . .
Lotteries, litigation, and education finance.
1. Introduction
Historically, the finance of public education in the United States
has been largely based on revenue raised locally through property
taxation. However, this system has been . . .
Marginal q, Tobin's q, cash flow, and investment.
1. Introduction
Cash flow has always been somewhat of a puzzle in the literature on
the determinants of investment. In a strictly neoclassical world, cash
flow does not belong in an investment . . .
Darwinian Politics: the Evolutionary Origin of Freedom.(Book
Review)
By Paul H. Rubin. New Brunswick, NJ: Rutgers University Press,
2002. Pp. xx, 228 pages. $25.00 (paperback).
Paul H. Rubin's Darwinian Politics: The Evolutionary Origin of
Freedom is another in a . . .
Announcements.(Southern Economic Association)
News Note
The results of the Southern Economic Association elections were
announced at the SEA meeting in San Antonio, Texas in November 2003. The
new officers are:
President-Elect: William E. . . .
Multiplant firms and innovation adoption and diffusion.
1. Introduction
One empirical regularity associated with the adoption of new
technology is that large firms tend to adopt sooner than small firms
(e.g., see Davies 1979; Mansfield 1968; Mansfield . . .
Cyclical quality adjustment in the labor market.
1. Introduction
The U.S. unemployment rate fell to very low levels during the
1990s. Even more impressively, the unemployment rate for minorities and
less educated individuals fell . . .
The manufacturers' choice of distribution policy under
successive duopoly.
1. Introduction
This article investigates what the equilibrium distribution systems
are in a successive duopoly when manufacturers of differentiated
products with asymmetric demands choose the . . .
Industry dynamics and the distribution of firm sizes: a
nonparametric approach.
1. Introduction
Ever since the seminal works of Herbert Simon and his coauthors
(Simon and Bonini 1958; Ijiri and Simon 1974, 1977) the distribution of
firm sizes (FSD) has received considerable . . .
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