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Economics

Selected Works

1986

Articles 1 - 19 of 19

Full-Text Articles in Social and Behavioral Sciences

Is Increased Price Flexibility Stabilizing?, J. Bradford Delong, Lawrence Summers Dec 1986

Is Increased Price Flexibility Stabilizing?, J. Bradford Delong, Lawrence Summers

J. Bradford DeLong

This paper uses John Taylor's model of overlapping contracts to show that increased wage and price flexibility can easily be destabilizing because of the Mundell effect. Simulations based on "realistic" parameter values suggest that increases in price flexibility might well increase the cyclical variability of output in the United States.

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Is Increased Price Flexibility Stabilizing?, J. Bradford Delong, Lawrence Summers Dec 1986

Is Increased Price Flexibility Stabilizing?, J. Bradford Delong, Lawrence Summers

J. Bradford DeLong

No abstract provided.

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An Almost Ideal Demand System For Housing Attributes, George R. Parsons Sep 1986

An Almost Ideal Demand System For Housing Attributes, George R. Parsons

George Parsons

No abstract provided.

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Soldiers Of Fortune, Ted Bergstrom Jun 1986

Soldiers Of Fortune, Ted Bergstrom

Ted C Bergstrom

This paper shows that if workers have identical wealths, abilities, and preferences then a draft lottery is Pareto superior to a voluntary army. It also shows that if being a civilian is a "normal good", then the optimal pay schedule will be such that people prefer not being chosen for the army. The paper shows how this idea extends to occupational choice in general and shows that pure gambles taken prior to occupational choice can substitute for lotteries that determine one's occupation. This paper repairs what I think is a major flaw in standard general equilibrium theory, which assumes away …

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Uncertain Parameter Values And The Choice Among Policy Options, Don Fullerton, Andrew Lyon May 1986

Uncertain Parameter Values And The Choice Among Policy Options, Don Fullerton, Andrew Lyon

Don Fullerton

We use a tax policy example to show how debate on the value of an elasticity parameter translates into a debate about policy choices. To construct this example, suppose that the choice among four particular tax reform options is based on a single measure of efficiency gain. For each reform, we show how the size of this gain depends upon the elasticity of saving with respect to the net rate of return. Moreover, within quite narrow and reasonable bounds for the elasticity parameter, we find regions in which each of three different tax reforms turns out to dominate the others.

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Causal Apportionment: A Reply To The Critics, Mario Rizzo Jan 1986

Causal Apportionment: A Reply To The Critics, Mario Rizzo

Mario Rizzo

This article follows-up on the theory of apportionment by relative causal contribution developed in the Columbia Law Review. It is an answer to criticism by statisticians.

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A Comparison Of Male-Female Hazard Rates Of Young Workers, 1968-1971, John Donohue Jan 1986

A Comparison Of Male-Female Hazard Rates Of Young Workers, 1968-1971, John Donohue

John Donohue

The perception that women have higher turnover rates than men is widespread. A recent study has argued, with a touch of sarcasm, that "[p]opular stereotypes, which economists refer to as 'stylized facts, I portray women as relatively poor bets as workers because they have ... higher quit rates than males. 1I Waite and Berryman [1985: 61]. Indeed, in a recent article on occupational segregation, Goldin takes this IIfact ll as the premise for her model, although in support of this position she cites only a 1920 study. Goldin [1985]. While this may well be adequate for Goldin's historical analysis, a …

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Hazard Rates Of Young Male And Female Workers--Recent Developments (Working Paper #51), John Donohue Jan 1986

Hazard Rates Of Young Male And Female Workers--Recent Developments (Working Paper #51), John Donohue

John Donohue

This paper will explore whether this tenure differential has persisted after a decade in which the commitment of women to the paid workforce increased substantially. To answer this question, I began by examining the first full-time job for "recent school leavers" from the National Longitudinal Studies youth cohort over the four year period from 1979-1982.2 Tables 1 and 2 present summary statistics for the resulting male and female samples, in which full-time jobs are defined as having a usual workweek of 20 or more hours. The number of male and female workers included in the sample are quite close: 2305 …

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The Overloaded Juggler-The Electoral-Economic Cycle In Israel 1951-1984, Benjamin (Benny) Temkin, Uriel Ben-Hanan Jan 1986

The Overloaded Juggler-The Electoral-Economic Cycle In Israel 1951-1984, Benjamin (Benny) Temkin, Uriel Ben-Hanan

benjamin (benny) temkin

No Abstract

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Development, Mobility And Slavery: Real Income And Spatial Equilibrium In The Postbellum South, Philip E. Graves, Robert L. Sexton Jan 1986

Development, Mobility And Slavery: Real Income And Spatial Equilibrium In The Postbellum South, Philip E. Graves, Robert L. Sexton

PHILIP E GRAVES

The paper lacks an abstract but provides additional insights into why blacks remained in the South for so long following the Emancipation Proclamation leading to the abolition of slavery in the United States.

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Book Review Of Local Economic Development: A Guide To Practice, John Mullin Jan 1986

Book Review Of Local Economic Development: A Guide To Practice, John Mullin

John R. Mullin

In community after community the local planner is becoming increasingly involved in the economic problems facing our cities and towns, with at least partial responsibility for guiding the retention, enhancement, and expansion of the community's economic base. At times he or she takes the lead, serves on economic development committees, or merely provides the data for other organizations. In most cases, however, the planner is being asked for answers to questions that he or she is ill prepared to answer. How many planning directors or senior staff planners are formally trained in, for example, proforma analysis, marketing evaluation, job retraining, …

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Strategic Planning Of Seaport Development In A Global Economy: Observations Of An Executive Port Director, Herman L. Boschken Jan 1986

Strategic Planning Of Seaport Development In A Global Economy: Observations Of An Executive Port Director, Herman L. Boschken

Herman L. Boschken

Seaport management is central both to the use of coastal resources and to the needs of a global economy. As a major point of supply-chain activity along the coast and as a source of pollution, ports need to be administered strategically to provide the greatest benefit according to economic and environmental demands. This article is an annotated conversation that provides a practitioner's insight into the management of change along the coastal zone. To address the problem, we probe organization theory for new insight and attempt to apply concepts to practice.

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The World Bank And Private Captial, Michelle Miller-Adams, John Purcell Dec 1985

The World Bank And Private Captial, Michelle Miller-Adams, John Purcell

Michelle Miller-Adams

No abstract provided.

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The Critical Wage, Unemployment Duration, And Wage Expectations: The Case Of Chile, A. Studenmund, Sholeh Maani Dec 1985

The Critical Wage, Unemployment Duration, And Wage Expectations: The Case Of Chile, A. Studenmund, Sholeh Maani

A. H. Studenmund

This study tests the relevance of the job search model to understanding unemployment in developing countries by utilizing a 1982 data set describing unemployed men in Chile. The findings indicate that the model is relevant to a developing country: the job seekers studied based their critical wages on their perceptions of their own productivity, economic resources, and search costs, and they reduced their wage requirements as the duration of their unemployment increased. The authors also show, in the first direct test of this question, that the critical wage and the expected wage are determined jointly and that the expected wage …

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A Survey Of Introductory Financial Managment Courses, Thomas Berry, Edward Farragher Dec 1985

A Survey Of Introductory Financial Managment Courses, Thomas Berry, Edward Farragher

Thomas D Berry

No abstract provided.

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On The Private Provision Of Public Goods, Ted Bergstrom, Hal Varian, Larry Blume Dec 1985

On The Private Provision Of Public Goods, Ted Bergstrom, Hal Varian, Larry Blume

Ted C Bergstrom

We consider a general model of the non-cooperative provision of a public good. Under very weak assumptions there will always exist a unique Nash equilibrium in our model. A smallredistribution of wealth among the contributing consumers will not change the equilibrium amount of the public good. However, larger redistributions of wealth will change the set of contributors and thereby change the equilibrium provision of the public good. We are able to characterize the properties and the comparative statics of the equilibrium in a quite complete way and to analyze the extent to which government provision of a public good ‘crowds …

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Development, Mobility And Slavery: Real Income And Spatial Equilibrium In The Postbellum South, Philip E. Graves, Robert L. Sexton Dec 1985

Development, Mobility And Slavery: Real Income And Spatial Equilibrium In The Postbellum South, Philip E. Graves, Robert L. Sexton

Robert L Sexton

The paper lacks an abstract but provides additional insights into why blacks remained in the South for so long following the Emancipation Proclamation leading to the abolition of slavery in the United States.

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Evidence, 1985-1986 Illinois Law Survey, Leonard Cavise, Scott C. Tomassi Dec 1985

Evidence, 1985-1986 Illinois Law Survey, Leonard Cavise, Scott C. Tomassi

Leonard Cavise

No abstract provided.

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Toward A Theory Of Strict "Claim" Liability: Warranty Relief For Advertising Representations, Wayne Lewis Dec 1985

Toward A Theory Of Strict "Claim" Liability: Warranty Relief For Advertising Representations, Wayne Lewis

Wayne Lewis

No abstract provided.

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