ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01309.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Output prices are mismeasured because of inadequate adjustments for changes in product quality. Thus, when quality improves, inflation will be systematically over‐stated. In this study, I find that the most commonly used indicator of the rate of inflation, the Producer Price Index, misses about 40 percent of the change in quality. However, I also find that the mismeasurement of output prices is constant over time, implying that errors of measurement are not a significant determinant of either the slowdown or recent acceleration in manufacturing productivit

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01310.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

A rise in the relative cost of time of women has increased the demand for brand names and reduced the demand for information traditionally supplied by retailers. A theory of the optimal allocation of shopping responsibilities in a two‐earner household shows that a rise in the woman's wage increases the demand for brand names by more than an increase in the man's wage. An increase in the relative earnings of women is related to a rise in male shopping, the growth of trademark filings, an increase in manufacturer advertising, and a reduction in retail personal services in several industrie

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01311.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Certain types of laws and institutions shape economic behavior in market economies. In Eastern Europe these general rules and market institutions are often nonexistent, and a major problem is to create market economies while simultaneously building the supporting institutions. We describe the type of institutions inherited from Soviet‐style economies and show institutional reforms and macroeconomic policies may have limited effects due to the interdependence and lack of complementary market institutions. Without a “critical mass” of market institutions, the benefits of markets are slow in realization. The advantages of reforming existing but distorted institutions over building new ones is str

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01312.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

We examine the impact of a six‐term tenure limit on members of the U.S. House of Representatives. The first part of this study develops a methodological framework for simulating the quantitative impact of term limits. The second part of this study uses this framework to estimate the effects of term limits on (i) the value of holding office, (ii) turnover, and (iii) the size of the Democratic majority in the House. Both steady‐state and transition period effects are explo

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01313.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Political behavior generates private benefits by helping people fit in with desired friends. A voter imitates other voters, but at the same time they imitate him. An equilibrium solution requires exogenous variables: the narrow self‐interest of the participants. The reduced form makes one's vote a function of the narrow self‐interest of others as well as one's own. In accord with the model, a person's party identification depends on his ethnic group's current income and its income in 1909 as well as his own inc

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01314.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

This paper analyses the impact of Medicaid home care benefits on the probability of nursing home entry and the use of formal and informal home care by disabled elderly remaining in the community. Using data from the National Long‐Term Care Survey, I find evidence that Medicaid home care subsidies reduced the probability of nursing home entry among at‐risk elderly using formal home care. Among non‐in‐stitutionalized persons, the subsidy increased the use of formal home care but led to substitution of informal with formal care for services that were non‐medical

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01315.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

The inability of employers to monitor perfectly the level of effort of their employees is a potentially serious impediment to labor market efficacy. Indeed, a number of recent studies have concluded that this may lead to involuntary unemployment (Shapiro and Stiglitz [1984], Sparks [1986]); an inefficient sectoral allocation of workers (Oi [1990], Strand [1986]); and discrimination against productively identical workers (Bulow and Summers [1986]). This paper shows that the lock‐in effect of firm‐specific human capital can help alleviate problems of worker moral hazard and thereby promote labor market performa

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01316.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Does style matter for economic writing? Several stylistic characteristics of ninety‐seven AEA presidential addresses, including word length, sentence length and percent of sentences in the passive voice, were computed and used to explain citations to these economists' work. Avoidance of the passive is an old stylistic norm given by Adam Smith. Word length and sentence length serve as modern stylistic norms. Only the percent passive matters to explain citations. Perhaps not coincidentally, while writing clarity in our data set has declined over time when measured by the new norm, it has improved when measured by the old nor

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01317.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY

摘要:

Although Heinrich von Stackelberg is famous for his contributions to the theory of imperfect competition, until recently scant attention has been paid to the life, other theoretical work and political thinking of this National Socialist economist. This paper examines his political economy as well as the events in his life which helped form it. Stackelberg devised a unique defense of fascist economic policy based on neoclassical economic analysis. At the same time, he may be credited with creating a novel theoretical framework for addressing a still unfinished line of inquiry into unstable markets and related informational issues.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1994.tb01318.x

出版商:Blackwell Publishing Ltd    

年代:1994

数据来源: WILEY