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Full-Text Articles in Economics
Determinants Of Economic Development Incentives Offered By States: A Test Of The Arms Race Hypothesis, Mark A. Jenn, Farrokh Nourzad
Determinants Of Economic Development Incentives Offered By States: A Test Of The Arms Race Hypothesis, Mark A. Jenn, Farrokh Nourzad
Economics Faculty Research and Publications
This paper tests the "arms race" hypothesis, which postulates that states tend to increase their incentive offerings to new firms if such incentive programs are in use in other states that are perceived to be direct competitors. Using a pooled time-series/cross-section sample of twelve states covering the period from 1969 through 1985 and a model that controls for the effects of various economic and political factors, we find strong support for the "arms race" hypothesis. This result is robust to the alternative specifications of the incentive offerings and different measures of the degree of competition among states.
Reserve Requirements, Currency Substitution, And Seigniorage In The Transition To European Monetary Union, Joseph Daniels, David Van Hoose
Reserve Requirements, Currency Substitution, And Seigniorage In The Transition To European Monetary Union, Joseph Daniels, David Van Hoose
Economics Faculty Research and Publications
This article considers a transition toward European monetary union that combines increased substitution of currencies and greater monetary, financial, and fiscal policy coordination. It explores how such a transition would affect national inflation and interest rates and required reserve ratios when governments depend in part on seigniorage funding for public expenditures. We find that greater coordination of policies would lead to lower inflation and interest rates but higher reserve-requirement ratios. Because higher reserve-requirement ratios could place European banks at a competitive disadvantage, we conclude that the interaction between reserve requirements and seigniorage concerns makes it less likely that the gradualist …
The Impact Of Personal And Location Characteristics Upon Elderly Interstate Migration, David E. Clark, Thomas A. Knapp, Nancy E. White
The Impact Of Personal And Location Characteristics Upon Elderly Interstate Migration, David E. Clark, Thomas A. Knapp, Nancy E. White
Economics Faculty Research and Publications
The purpose of this paper is to investigate the impact of locational and individual characteristics upon interstate retiree migration, particularly in state-level public policy variables. Data regarding the characteristics of individual movers are drawn from the 1990 US. Census of Population and Housing 5% Public Use Microdata Sample. The household data are merged with location-specific attributes including both natural amenities and local fiscal variables. Three specifications of the model are estimated. The “push” model analyzes the impact of origin characteristics upon migration between states, while the “pull” model demonstrates the influence of destination characteristics upon interstate migration. The final specification …
Review Of Monetary Economics By N. Gregory Mankiw, Abdur Chowdhury
Review Of Monetary Economics By N. Gregory Mankiw, Abdur Chowdhury
Economics Faculty Research and Publications
No abstract provided.