Economic Inquiry

Articles from Vol. 31, No. 1, January

All-Terrain Vehicles: Market Reaction to Risk Information
I. INTRODUCTION Several recent studies have shown a systematic relationship between well-publicized product recalls and capital market losses for the firms involved. Jarrell and Peltzman |1985~ found that drug recalls by the Food and Drug Administration...
An Empirical Analysis of Adoption
I. INTRODUCTION Adoption is as old as recorded history. It was practiced by the ancient Egyptians, Greeks, and Romans. Technically, adoption is a legal procedure by which a couple, or, less commonly, an individual, takes someone else's child into their...
Bidding till Bankrupt: Destructive Competition in Professional Team Sports
If we don't sign Hershiser, we'll lose him at the end of the year to an owner who is told by his manager that the club is only one pitcher away from winning it all. To win it all, some owners will do anything. God save us from those owners only one pitcher...
Entry Level Salaries of Academic Economists: Does Gender or Age Matter?
I. INTRODUCTION Since the mid 1970s earnings differentials in academic labor markets have been extensively investigated with particular attention focused on salary differentials between males and females. The leading studies use similar methodologies...
Price Ceilings and Party Privilege
I. INTRODUCTION Price ceilings in practice are often quite different from the standard textbook version. This paper analyzes price ceilings in Communist countries. They are characterized by the existence of a privileged group, namely members of the...
Professional Achievements and Gender Differences among Academic Economists
I. INTRODUCTION While the academic labor market for economists attracts a good deal of attention among its participants, work on the differences in remuneration for economic research and other professional characteristics between men and women in academic...
Right-to-Work Laws and Free Riding
I. INTRODUCTION Section 14(b) of the Taft-Hartley Act permits state right-to-work (right-to-work) laws which prohibit compulsory payment of union dues. By allowing employees to enjoy the benefits of a union contract without the costs of union membership,...
The Importance of Financial Considerations in Divorce Decisions
I. INTRODUCTION One of the most dramatic and commonly cited consequences of divorce is the fall in family money income--especially for households headed by divorced women. Using the Panel Survey of Income Dynamics, Duncan and Hoffman |1985~ estimate...
The Nonmonetary Effects of Financial Factors during the Interwar Period
I. INTRODUCTION In A Monetary History of the United States, Friedman and Schwartz |1963~ attributed the enormous decline in real output and prices during the Great Depression of 1929-1933 to an unprecedented fall in the supply of money. While there...
Theory and Experiments on Spatial Competition
I. INTRODUCTION Why do convenience stores tend to choose dispersed locations close to consumers, whereas fast food restaurants tend to locate near each other? Why do automobile dealers locate close to one another, yet go to great effort to differentiate...
Uncertain Effects of Money and the Link between the Inflation Rate and Inflation Uncertainty
I. INTRODUCTION Evidence for the postwar period indicates that high rates of inflation were associated with high levels of inflation uncertainty, which in turn had adverse effects on employment and output.(1) In other words, the uncertainty that accompanies...