ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1993.tb00862.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

This article examines the market response to new risk information implicit in a recent regulatory stop‐sale of new three‐wheeled all‐terrain vehicles. A hedonic price analysis is used to quantify the stop‐sale's impact in the secondhand market, a market segment not directly affected by the stop‐sale. The analysis shows a substantial reduction in the price of three‐wheeled all‐terrain vehicles relative to the price of less risky models. This result is consistent with rational economic behavior and suggests that providing new risk information can improve mar

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1993.tb00863.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

In the postwar period high rates of inflation are associated with high levels of inflation uncertainty. In this paper I argue that the inflation rate and inflation uncertainty are linked by forecasters' uncertainty about the impact of money growth on the price level, and I present evidence indicating that this has been the case. As long as the impact of money growth on the price level remains unpredictable, then even predictable money growth will cause inflation uncertainty with its accompanying adverse effects on employment and output.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1993.tb00864.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

Many economists argue that state right‐to‐work laws, by disallowing union shops, encourage free riding and thus diminish union viability. Others counter that right‐to‐work laws are not enforced and that they represent local attitudes and employee characteristics which would encourage free riding in any me. We find that when other factors which affect free riding are taken into account, the marginal impact of right‐to‐work laws remains significant, although of a smaller magnitude than that found in previous bivari

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1993.tb00865.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

This paper estimates the supply of adoptions using a decision‐making economic framework of desired fertility and family size. The empirical results show that the decision to place a child for adoption is negatively related to a woman's labor force participation, the size of Aid to Families with Dependent Children payments and the unemployment rate, and is positively related to her marital status, education, and religious affiliation. The price and availability of abortions are found to have no statistically significant effect on the adoption decision. Furthermore, state regulations designed to encourage adoptions have no impact on the adoption optio

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1993.tb00866.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

This paper studies the linkage between the expected financial consequences of divorce and the decision to become divorced. A standard choice‐theoretic model predicts that the probability of divorce will be negatively related to the financial opportunity cost of divorce. This opportunity cost is measured as the difference in the present values of the future income streams that a married woman might expect if she were to stay married rather than become divorced. Our empirical results indicate that the expected short‐term financial consequences are a better predictor of subsequent divorce than are the longer‐term consequ

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1993.tb00867.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

This paper employs vector autoregressions to estimate the nonmonetary effects of financial sector shocks on output and prices during the interwar period. Variance decompositions indicate that the nonmonetary financial proxies have significant and important effects. Impulse response functions indicate that most of the significant shocks to our financial crisis proxies have negative effects on output and prices. Focusing on the depressed conditions of the 1930s, historical decompositions indicate that the nonmonetay financial crisis variables are generally more important than the monetary base in explaining macro behavior. Our findings thus support theoretical models emphasizing the important nonmonetay effects of financial variables.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1993.tb00868.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

The analysis and evidence here suggest that the market for star athletes in professional sports could be subject to “destructive competition”—a competitive process which drives some participants from a market even though it is inefficient for them to leave. When pursuing a league championship, the talent which turns an average team into a contender contributes disproportionately to the team's success. Teams which fail to earn enough on the last stars they sign to offset losses on their inframarginal talent will abandon a competitive market for star athletes. Other situations that involve input rivalry between producers might yield similar re

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1993.tb00869.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

This paper tests for gender differences in remuneration and professional achievement among academic economists using data on grants and grant applications to the National Science Foundation. A simultaneous equations model is used to examine the determinants of salary, rank, department affiliation and research output. In addition to confirming some long‐standing folklore about the composition of faculty in research‐oriented institutions, significant gender differences were found among older cohorts. Although the signs of the gender coefficients are consistent with a discrimination hypothesis for the sample of assistant professors, the results were not statistically signific

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1993.tb00870.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY

摘要:

This study uses the results of a survey of entry level economists to investigate whether gender or age influence beginning salaries once other determinants of earnings are taken into account. We consider and control for terminal degree status, the quality of Ph.D. granting and hiring departments, field of specialization, costs of living across areas, and other institutional factors that can influence academic salaries. Gender is found to have no significant effect. Age seems to matter but only in departments that have faculty who do not publish in top journals and only through interactions with other variables.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1993.tb00871.x

出版商:Blackwell Publishing Ltd    

年代:1993

数据来源: WILEY