摘要:

This paper applies a positive theory of legislation to explain the development of the 1984 Drug Price Competition Act and the Patent Term Restoration Act. Specifically, it examines why regulatory reforms prior to 1984 were stalemated, and why the 1984 legislation was enacted. Results show that prior to 1984, members of the key congressional committees had preferences in which the proposed bills could not beat the status quo. However, changes in subcommittee membership in the House combined with a change in the majority party in the Senate created a situation in which the 1984 legislation could defeat the status quo.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01336.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

This paper presents empirical evidence that an individual's decision to drive while drunk is negatively affected by the expected full price of driving drunk. The analysis uses a unique data set containing information on self‐reported drunk driving matched to state‐level drunk driving policies as well as to state excise taxes on beer. These are hypothesized and found to affect drunk driving. Further, we find interesting racial differences but surprisingly small differences by gender in the effect of socioeconomic and policy variables on drunk driving propensit

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01337.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

The recording industry for popular singers, 1955–1987, consisted of a lower‐end market for singles and a higher‐end market for albums. The singles market acted as an entry‐level quality filter for the album market. While this two‐tier market system might have led to the “superstar phenomenon” in the Marshall‐Rosen sense, other non‐quality factors, such as the singer's race or musical style, resulted in an imperfect quality filter, possibly explaining why the industry did not exhibit superstar

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01338.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

This paper is an empirical investigation of the long‐run behavior of international prices at the microeconomic level. It analyzes the time‐series behavior of a unique set of carefully matched, disaggregated export prices for manufactured goods from the U.S., Gemany, and Japan over the period 1974–90. The results provide little evidence of a long‐run linear relationship between global prices of similar export goods from different sources, casting doubts on the empirical relevance of the law of on

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01339.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Buchanan and Lee [1982] suggest that politicians choose tax rates on the positively sloped segment of the short‐run rate‐revenue curve but the negatively sloped segment of the long‐run curve. This paper uses recent estimates of the slope of the cigarette demand curve by Becker, Grossman and Murphy [1994]to test the hypothesis. Becker, Grossman and Murphy's parameter estimates combined with state‐by‐state data on key variables yields strong evidence against the hypothesis and instead suggests that marginal revenues from cigarette excise taxes are positive in ev

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01340.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

A common characterization of the “marginalist revolution” is that it focused on individuals, depicted economics as the universal application of behavioral laws of choice, and made a clear distinction between the analyses of “pure” economic theory and economic policy. This characterization effaces a number of important differences between the work of W. Stanley Jevons and later supply and demand theories. Using Jevons's discussion of reductions in working hours to illustrate the analysis, the paper shows how he used the Victorian language of “civilization” and “character” to designate class and race behavior in theTheory of Po

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01341.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Despite extensive study concerning involuntary departures by U.S. House members, little has been said about voluntary departures from the House–‐quit behavior. This paper has three primary purposes: (1) to establish a theoretical framework that models the full range of choices a representative faces in any given term, (2) to measure the impact of different variables that affect representatives' quit behavior, and (3) to explain why Republicans have been more likely to pursue higher office than their Democratic colleag

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01342.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Many authors have argued that lotteries are used to allocate resources because of the fairness of the mechanism. However, a number of historical examples suggest otherwise. Participation fees are almost always charged and they are often discriminatory. In addition, goods (or bads) allocated by lotteries are usually not transferable. Both lottery participation fees and restrictions on transferability reduce rent‐seeking from speculators. Each feature increases the rents to the primary user groups relative to the rents attainable from alternative mechanisms such as auctions, queues, or merit allocation

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01343.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Theoretical and empirical considerations suggest that trademarks guarantee more than just quality: they assure specific performance, that is, fulfillment of the specific terms of the contract. The specific performance hypothesis implies that a firm's investment in trademark capital varies directly with the damages that its customers expect to bear from a breach and the legal difficulties of obtaining compensation. The hypothesis also helps to explain why competitors of firms whose products are recalled lose wealth, why some damages allowed by law intentionally provide less than full compensation, and why firms who sell only to other firms also invest in trademarks.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01344.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

This paper presents results that indicate that oil price shocks were economically important in explaining movements in industrial production, and, to a lesser degree, movements in wholesale prices in the period between World Wars I and II. The framework for analysis is a vector autoregressive model estimated using monthly data over 1924:2–38:6 that employs a financial intermediation variable, a measure of relative oil prices, and other variables typically found in small macroeconomic models. The impact of oil price shocks is evaluated through computation of variance decompositions and an historical decomposition over the 1929:9–38:6 per

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01345.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY