Economic Inquiry

Articles from Vol. 40, No. 1, January

African American Migration to the North: New Evidence for the 1910s
Thomas N. Maloney (*) The years between 1910 and 1920 witnessed the first wave of the "Great Migration" of African Americans to the North. This article uses new census data from the Integrated Public Use Microdata Series project to study self-selection...
Are the Effects of Monetary Policy Asymmetric?
HUNTLEY SCHALLER (*) By building on the Hamilton (1989) Markov switching model, we examine questions like: Does monetary policy have the same effect in expansions and recessions? Given that the economy is currently in a recession, does a fall in...
Black-White Wage Inequality in the 1990s: A Decade of Progress
MARY C. DALY (*) Using Current Population Survey data, we find that the gap between the wages of black and white males declined during the 1990s at a rate of about .60 percentage point per year. Wage convergence was most rapid among workers with...
Cointegration and Structural Change: An Application to the U.S. Demand for Money
WANKEUN OH (*) I perform the cointegration tests for the trivariate model of real monetary aggregates, real personal income, and short-term interest rate. I find the existence of a long-run relationship among these three variables. To check the...
Computers and Productivity: Are Aggregation Effects Important?
KEVIN J. STIROH (*) This article examines the empirical implications of aggregation bias when measuring the productive impact of computers. To isolate "aggregation in variables" and "aggregation in relations" problems, we compare production function...
Core Journals in Economics
GAINES H. LINER (*) This article ranks core journals in economics using the textbook citation method. Rankings are produced from citations in graduate-level microeconomics, macroeconomics, and econometrics textbooks. Textbooks used in the study...
Distortionary Taxation and Optimal Public Spending on Productive Activities
MUTSUMI MATSUMOTO (*) Using a general-equilibrium model with endogenous factor supplies, this article investigates the provision of factor-augmenting public inputs. Such inputs are intermediate goods that affect production functions in a collective...
Financial Market Variables Do Not Predict Real Activity: Further Evidence
CHRISTIAN E. WEBER (*) Previous studies argue that financial variables do not help forecast U.S. output growth. F statistics for excluding financial variables from output growth equations depend on the sample period and the inclusion of 1974:12...
Stock Market Wealth and Consumer Spending
Martha Starr-McCluer (*) This article investigates the effects of stock market wealth on consumer spending. Traditional macroeconometric models estimate that a dollar's increase in stock wealth boosts consumption by three to seven cents. With the...
The 10% Flat Tax: Tithing and the Definition of Income
Developing a fair and widely accepted income definition presents one of the greatest challenges to tax reform. To arrive at a definition separate from the federal tax code, we surveyed 1200 Latter-day Saints about their practice of tithing. Tithing...
Understanding Unemployment across California Counties
MARK L. RODINI (*) Unemployment rates differ widely and persistently across counties. This article examines equilibrium forces related to this geographic disparity with a focus on California. We show that although seasonal variation in employment...