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Full-Text Articles in Law
Massachusetts Immigrants By The Numbers, Second Edition: Demographic Characteristics And Economic Footprint, Alan Clayton-Matthews, Paul Watanabe
Massachusetts Immigrants By The Numbers, Second Edition: Demographic Characteristics And Economic Footprint, Alan Clayton-Matthews, Paul Watanabe
Institute for Asian American Studies Publications
With this update to the original groundbreaking study of Massachusetts Immigrants by the Numbers in 2009, we continue to focus on the economic and social contributions that immigrants have made in building the vibrant Massachusetts economy. It shows that, despite heightened public debate, the demographic characteristics and economic trends of the state’s immigrant population have remained largely unchanged. Immigrants continue to have a positive impact on the Commonwealth.
Designing Incentives For Inexpert Human Raters, Daniel L. Chen, John J. Horton, Aaron D. Shaw
Designing Incentives For Inexpert Human Raters, Daniel L. Chen, John J. Horton, Aaron D. Shaw
Faculty Scholarship
The emergence of online labor markets makes it far easier to use individual human raters to evaluate materials for data collection and analysis in the social sciences. In this paper, we report the results of an experiment - conducted in an online labor market - that measured the effectiveness of a collection of social and financial incentive schemes for motivating workers to conduct a qualitative, content analysis task. Overall, workers performed better than chance, but results varied considerably depending on task difficulty. We find that treatment conditions which asked workers to prospectively think about the responses of their peers - …
Recessions And The Social Safety Net: The Alternative Minimum Tax As A Countercyclical Fiscal Stabilizer, Brian Galle, Jonathan Klick
Recessions And The Social Safety Net: The Alternative Minimum Tax As A Countercyclical Fiscal Stabilizer, Brian Galle, Jonathan Klick
All Faculty Scholarship
As recent events illustrate, state finances are procyclical: during recessions, state revenues crash, worsening the effects of economic downturns. This problem is well known, yet persistent. We argue here that, in light of predictable federalism and political economy dynamics, states will be unable to change this situation on their own. Additionally, we note that many possible federal remedies may result in worse problems, such as by creating moral hazard that would induce states to take on excessively risky policy, both fiscal and otherwise. Thus, we argue that policymakers should consider so-called “automatic” stabilizers, such as are found in the federal …
Passive Discrimination: When Does It Make Sense To Pay Too Little?, Jonah B. Gelbach, Jonathan Klick, Lesley Wexler
Passive Discrimination: When Does It Make Sense To Pay Too Little?, Jonah B. Gelbach, Jonathan Klick, Lesley Wexler
All Faculty Scholarship
Economists have long recognized employers’ ability to construct benefits packages to induce workers to sort themselves into and out of jobs. For instance, to encourage applications from individuals with a highly valued but largely unobservable characteristic, such as patience, employers might offer benefits that patient individuals are likely to value more than other individuals. By offering a compensation package with highly valued benefits but a relatively low wage, employers will attract workers with the favored characteristic and discourage other individuals from applying for or accepting the job. While economic theory generally views this kind of self-selection in value neutral terms, …
Federalism, Variation, And State Regulation Of Franchise Termination, Jonathan Klick, Bruce Kobayashi, Larry Ribstein
Federalism, Variation, And State Regulation Of Franchise Termination, Jonathan Klick, Bruce Kobayashi, Larry Ribstein
All Faculty Scholarship
This article discusses and expands on our recent work examining the effects of franchise-termination laws. In a prior article, we examined empirically the effect of franchise-termination laws on the level of franchise activity. Our analysis improved upon the prior literature in two major ways. First, our work exploited two new sources of panel data to provide new empirical evidence on the effect of franchise termination laws. Second, our analysis examined variation in states’ restrictions on the ability of franchisors and franchisees to contract around a particular state’s regulation. We found that the effects of termination laws on the overall level …
The Immigration Paradox: Alien Workers And Distributive Justice, Howard F. Chang
The Immigration Paradox: Alien Workers And Distributive Justice, Howard F. Chang
All Faculty Scholarship
The immigration of relatively unskilled workers poses a fundamental problem for liberals. While from the perspective of the economic welfare of natives, the optimal policy would be to admit these aliens as guest workers, this policy would violate liberal ideals. These ideals would treat these workers as equals, entitled to access to citizenship and to the full set of public benefits provided to citizens. If the welfare of incumbent residents determines admissions policies, however, and we anticipate the fiscal burden that the immigration of the poor would impose, then our welfare criterion would preclude the admission of relatively unskilled workers …
Agency Costs, Charitable Trusts, And Corporate Control: Evidence From Hershey's Kiss-Off, Jonathan Klick, Robert H. Sitkoff
Agency Costs, Charitable Trusts, And Corporate Control: Evidence From Hershey's Kiss-Off, Jonathan Klick, Robert H. Sitkoff
All Faculty Scholarship
In July 2002 the trustees of the Milton Hershey School Trust announced a plan to diversify the Trust’s investment portfolio by selling the Trust’s controlling interest in the Hershey Company. The Company’s stock jumped from $62.50 to $78.30 on news of the proposed sale. But the Pennsylvania Attorney General, who was then running for governor, opposed the sale on the ground that it would harm the local community. Shortly after the Attorney General obtained a preliminary injunction, the trustees abandoned the sale and the Company’s stock dropped to $65.00. Using standard event study methodology, we find that the sale announcement …
Private Equity's Three Lessons For Agency Theory, William W. Bratton
Private Equity's Three Lessons For Agency Theory, William W. Bratton
All Faculty Scholarship
No abstract provided.
The Disadvantages Of Immigration Restriction As A Policy To Improve Income Distribution, Howard F. Chang
The Disadvantages Of Immigration Restriction As A Policy To Improve Income Distribution, Howard F. Chang
All Faculty Scholarship
In this Article, I argue that tax and transfer policies are more efficient than immigration restrictions as instruments for raising the after tax incomes of the least skilled native workers. Policies to protect these native workers frol1'l immigrant competition in the labor market do no better at promoting distributive justice and are likely to impose a greater economic burden on natives in the country of immigration than the tax alternative. These immigration restrictions are especially costly given the disproportionate burden that they place on households with working women, which discourages fel1'wle participation in the labor force. This burden runs contrary …
Measuring Efficiency In Corporate Law: The Role Of Shareholder Primacy, Jill E. Fisch
Measuring Efficiency In Corporate Law: The Role Of Shareholder Primacy, Jill E. Fisch
All Faculty Scholarship
The shareholder primacy norm defines the objective of the corporation as maximization of shareholder wealth. Law and economics scholars have incorporated the shareholder primacy norm into their empirical analyses of regulatory efficiency. An increasingly influential body of scholarship uses empirical methodology to evaluate legal rules that allocate power within the corporation. By embracing the shareholder primacy norm, empirical scholars offer normative assessments about regulatory choices based on the effect of legal rules on measures of shareholder value such as stock price, net profits, and Tobin’s Q.
This Article challenges the foundations of using the shareholder primacy norm to judge corporate …
The Academic Tournament Over Executive Compensation, William W. Bratton
The Academic Tournament Over Executive Compensation, William W. Bratton
All Faculty Scholarship
No abstract provided.
The New Dividend Puzzle, William W. Bratton
The New Dividend Puzzle, William W. Bratton
All Faculty Scholarship
No abstract provided.
Pari Passu And A Distressed Sovereign's Rational Choices, William W. Bratton
Pari Passu And A Distressed Sovereign's Rational Choices, William W. Bratton
All Faculty Scholarship
No abstract provided.
Econometric Analyses Of U.S. Abortion Policy: A Critical Review, Jonathan Klick
Econometric Analyses Of U.S. Abortion Policy: A Critical Review, Jonathan Klick
All Faculty Scholarship
No abstract provided.
Rules, Principles, And The Accounting Crisis In The United States, William W. Bratton
Rules, Principles, And The Accounting Crisis In The United States, William W. Bratton
All Faculty Scholarship
The Sarbanes-Oxley Act and the Securities Exchange Commission move too quickly ·when they prod the Financial Accounting Standards Board, the standard setter for US GAAP, to move immediately to a principles-based system. Priorities respecting reform of corporate reporting in the US need to be ordered more carefully. Incentive problems impairing audit performance should be solved first through institutional reform insulating the audit from the negative impact of rent-seeking and solving adverse selection problems otherwise affecting audit practice. So long as auditor independence and management incentives respecting accounting treatments remain suspect. the US reporting system holds out no actor plausibly positioned …
Gaming Delaware, William W. Bratton
Liberal Ideals And Political Feasibility: Guest-Worker Programs As Second-Best Policies, Howard F. Chang
Liberal Ideals And Political Feasibility: Guest-Worker Programs As Second-Best Policies, Howard F. Chang
All Faculty Scholarship
No abstract provided.
Double Helix, Double Bind: Factual Innocence And Postconviction Dna Testing, Seth F. Kreimer, David Rudovsky
Double Helix, Double Bind: Factual Innocence And Postconviction Dna Testing, Seth F. Kreimer, David Rudovsky
All Faculty Scholarship
No abstract provided.
A Liberal Theory Of Social Welfare: Fairness, Utility, And The Pareto Principle, Howard F. Chang
A Liberal Theory Of Social Welfare: Fairness, Utility, And The Pareto Principle, Howard F. Chang
All Faculty Scholarship
No abstract provided.
Economics And Sociology: The Prospects For An Interdisciplinary Discourse Of Law, Kenneth G. Dau-Schmidt
Economics And Sociology: The Prospects For An Interdisciplinary Discourse Of Law, Kenneth G. Dau-Schmidt
Articles by Maurer Faculty
My purposes in this essay are two-fold. First, I provide some background on the disciplines of economics and sociology as a basis for the discussion at this Symposium and for my own discussion of the potential for an interdisciplinary discourse on law. In this regard, in the first section of the essay I provide a brief history of the relationship between the two disciplines, a brief outline of the basic characteristics of each disciplinary perspective, and a brief discussion of the emerging opportunities for useful exchange between the two disciplines. Second, I examine the prospects that the economic analysis of …
Nest Eggs And Stormy Weather: Law, Culture, And Black Women's Lack Of Wealth, Regina Austin
Nest Eggs And Stormy Weather: Law, Culture, And Black Women's Lack Of Wealth, Regina Austin
All Faculty Scholarship
No abstract provided.
Dividends, Noncontractibility, And Corporate Law, William W. Bratton
Dividends, Noncontractibility, And Corporate Law, William W. Bratton
All Faculty Scholarship
No abstract provided.
Education For Self-Reliance, Responsibility And Hope, John Strassburger
Education For Self-Reliance, Responsibility And Hope, John Strassburger
Publications
This is the first in a series of occasional papers about the challenges confronting students and what Ursinus is doing to help them enter adult life.
A Property-Based Theory Of Security Interests: Taking Debtor's Choices Seriously, Steven L. Harris, Charles W. Mooney Jr.
A Property-Based Theory Of Security Interests: Taking Debtor's Choices Seriously, Steven L. Harris, Charles W. Mooney Jr.
All Faculty Scholarship
No abstract provided.
"A Nation Of Thieves": Securing Black People's Right To Shop And To Sell In White America, Regina Austin
"A Nation Of Thieves": Securing Black People's Right To Shop And To Sell In White America, Regina Austin
All Faculty Scholarship
No abstract provided.
"An Honest Living": Street Vendors, Municipal Regulation, And The Black Public Sphere, Regina Austin
"An Honest Living": Street Vendors, Municipal Regulation, And The Black Public Sphere, Regina Austin
All Faculty Scholarship
No abstract provided.
Bargaining And The Division Of Value In Corporate Reorganization, Howard F. Chang, Lucian A. Bebchuk
Bargaining And The Division Of Value In Corporate Reorganization, Howard F. Chang, Lucian A. Bebchuk
All Faculty Scholarship
No abstract provided.
Controlling Congress: Presidential Influence In Domestic Fiscal Policy, Michael A. Fitts, Robert Inman
Controlling Congress: Presidential Influence In Domestic Fiscal Policy, Michael A. Fitts, Robert Inman
All Faculty Scholarship
No abstract provided.
Black, Brown, Poor & Poisoned: Minority Grassroots Environmentalism And The Quest For Eco-Justice, Regina Austin, Michael H. Schill
Black, Brown, Poor & Poisoned: Minority Grassroots Environmentalism And The Quest For Eco-Justice, Regina Austin, Michael H. Schill
All Faculty Scholarship
No abstract provided.
The Limits Of Social Policy, Cary Coglianese
The Limits Of Social Policy, Cary Coglianese
All Faculty Scholarship
No abstract provided.