Economic Inquiry

Articles from Vol. 38, No. 1, January

A Common-Features Analysis of Amsterdam and London Financial Markets during the Eighteenth Century
DOUGLAS T. WILLS [*] We examine the financial linkage between the London and Amsterdam financial markets using stock prices recorded in each market over the period 1723-94 in conjunction with tests for common trends, cycles, and regime shifts. These...
Children's Altruism in Public Good and Dictator Experiments
KATE KRAUSE [*] We examine the development of altruistic and free-riding behavior in 6-12-year-old children. We find that the level of altruistic behavior in children is similar to that of adults but that repetition has a different effect. Younger...
Dynamic Effects of Financial Intermediation over the Business Cycle
PING WANG [*] This paper provides a empirical evidence that the financial intermediation disturbances can generate business cycles. We examine three countries whose financial sectors are fully developed but quite distinct in their institutional...
Job Queues, Discrimination, and Affirmative Action
JAMES R. FAIN [*] If employers have different Becker-type discrimination coefficients for different demographic groups, then the implementation of affirmative action may have a differential impact on those groups. We estimate two vector autoregressive...
Loan Performance and Race
R. CARTER HILL [*] Recent studies find evidence of racial discrimination in mortgage markets. Although these studies explore loan approval rates for whites versus minorities, they do not specifically consider loan performance, either in the form...
Market Stability: Backward-Bending Supply in a Laboratory Experimental Market
1999 PRESIDENTIAL ADDRESS WESTERN ECONOMIC ASSOCIATION CHARLES R. PLOTT [*] This article investigates the stability properties of markets with backward-bending supply curves. Parameters are chosen so that the two classic models of price dynamics,...
Relating Labor Productivity to Wages in Service Sectors: A Long-Run Approach
JEFF HUTHER [*] This article introduces a systematic approach to the study of unbalanced productivity growth that can be readily applied across any sectors with unbalanced productivity growth. This approach is based on a cointegrating relationship...
Spatial Competition with Three Firms: An Experimental Study
KATERINA SHERSTYUK [*] This article reports the results of an experimental study of the three firm location problem. We compare the subjects' behavior in the experiments with the symmetric mixed strategy Nash equilibrium calculated by Shaked. Overall,...
The Effects of Smoking Laws on Seating Allocations of Restaurants, Bars, and Taverns
MICHAEL L. MARLOW [*] Supporters of smoking laws often argue that they do not harm restaurants, bars, and taverns and may even raise their profits. Opponents argue that owners cater to customer preferences regarding smoking and that laws mandating...
The Level and Uncertainty of Inflation: Results from Oecd Forecasts
BRYCE E. KANAGO [*] There is considerable evidence that inflation variability and the level of inflation are positively related across countries. Evidence of a within-county relation is mixed. Evidence for a significant positive relation comes mostly...