-
作者：BISHOP, JA; FORMBY, JP; THISTLE, PD
作者单位：University of North Carolina; East Carolina University; Western Michigan University; University of Alabama System; University of Alabama Birmingham
摘要：This paper investigates interstate variation in income inequality. By avoiding inequality indices and focusing directly on Lorenz curve, we provide a more general explanation of the differences in inequality. We find that mean family income, the standard deviation of years of schooling, per capita educational expenditure, and property income are robust predictors of inequality. Of particular interest is our finding that, ceteris paribus, higher per capita educational expenditures tend to be as...
-
作者：BUNCH, DS; SMILEY, R
摘要：To deter entry into new product markets, firms most often use the creation of product loyalty through advertising, and the preemption of markets through numerous and broad patents. Filling all product niches, masking the results for highly profitable divisions, and advertising are used most frequently for existing products. For newly developed products, strategic entry deterrents are used more often when markets are concentrated, populated by large firms, and research intensive. Strategic entr...
-
作者：KNAPP, LG; SEAKS, TG
作者单位：University of North Carolina; University of North Carolina Greensboro
摘要：Federally insured student loans constitute an area that is almost completely unexplored by researchers despite intense scrutiny that federally insured loans are receiving after the S & L collapse. Based on a probit model of default for two thousand guaranteed student loans, we find that individual characteristics (including parents' income, presence of two parents at home, student's graduation, and student's race) have a significant impact on default rates, while institutional characteristics ...
-
作者：BRADA, JC; KING, AE
作者单位：Lehigh University
摘要：The ability of planners in Poland and the USSR to recognize and act to eliminate market disequilibrium in the markets for grain and meat is tested by means of an econometric model of grain and meat production, consumption and trade. Planners' perceptior s of excess demand for grain, meat and foreign exchange are shown to influence production and trade decisions in a way that tends to reduce excess demand or supply. Nevertheless, the markets for grain, meat and foreign exchange are shown to be ...
-
作者：DEVARAJAN, S; SUSSANGKARN, C
摘要：Noting that standard calculations of effective rates of protection (ERP) assume that domestic and foreign goods are perfectly substitutable, this paper relaxes that assumption. Using a 54-sector, general equilibrium model of Thailand, we compute ERPs when the imported and domestically-produced good in each sector are assumed to be imperfect substitutes and compare them with the ERPs as derived using the standard approach. Our results show that the general-equilibrium calculation differs from t...
-
作者：FRAZIER, TP; GOLDBERG, MS; GULLEDGE, TR
作者单位：George Mason University
摘要：This paper analyzes the effect of two Department of Defense (DoD) policies on the investment behavior of the military aircraft industry. The first policy concerns progress payments, which govern the rate at which DoD reimburses costs expended by contractors. The second policy concerns a markup on capital equipment, which was explicitly designed to promote investment. The effects of these policies are examined using time-series data on four large aerospace contractors.
-
作者：JACKSON, WE
摘要：Two hypotheses are tested in this paper. The first is whether the appropriate geographic market for certain banking services is national, instead of local. The second is whether the definition of banking ''product'' as all banking services is too broad. A rational distributed lag model of bank pricing behavior is estimated using retail deposit rate data and the Fuller-Battese error component method. Dummy variables are incorporated into the model to test for differing pricing behavior across l...
-
作者：KIM, SW
摘要：The conventional model of the housing market does not take into account the search process for a suitable housing unit. Based on a dynamic search theory, this paper develops and estimates a truncated regression model of the rental housing market with stochastic and unobserved truncation points. Our model provides a joint estimation of the hedonic price and the reservation rent equations. The results turn out to be superior to the ordinary least squares estimates of either the traditional housi...
-
作者：COVEY, T; BESSLER, DA
作者单位：Texas A&M University System; Texas A&M University College Station
摘要：A procedure is proposed to test for the existence of a fully causal relationship between two variables. The method involves contrasting the probabilistic forecasting performance of a univariate and bivariate specification for the same variable Y. If there exists some theory or belief that X causes Y, and the addition of a variable X to the information set of a prequential forecasting system for a variable Y reduces miscalibration and/or the level of forecast uncertainty with respect to Y's dis...
-
作者：DUTKOWSKY, DH; FOOTE, WG
作者单位：Le Moyne College
摘要：This paper introduces money into the consumption-leisure based intertemporal substitution model. The optimization problem poses that the household chooses consumption, labor supply, money demand, and wealth. Holdings of real money balances along with consumption and leisure determine utility. The constraint decomposes wealth into money and an alternative asset. We estimate the derived semi-reduced form equations using per capita U.S. data. The findings indicate significant interest rate intert...
