Economic Inquiry

Articles from Vol. 30, No. 1, January

Economic Principles in the Emergence of Humankind; Presidential Address to the Western Economic Association, June 30, 1991
ECONOMIC PRINCIPLES IN THE EMERGENCE OF HUMANKIND PRESIDENTIAL ADDRESS TO THE WESTERN ECONOMIC ASSOCIATION JUNE 30, 1991 I. INTRODUCTION This essay is about who we were in prehistory, and how we were shaped by economic principles. Of the...
Finite Horizons, Infinite Horizons, and the Real Interest Rate
FINITE HORIZONS, INFINITE HORIZONS, AND THE REAL INTEREST RATE Using an overlapping-generations model in which households may have either finite or infinite horizons, I derive the implications of each horizon for the steady-state real ...
Imperfect Competition and Business Cycles: An Empirical Investigation
IMPERFECT COMPETITION AND BUSINESS CYCLES: AN EMPIRICAL INVESTIGATION Does imperfect competition increase the magnitude of business cycles? If so, the variability of an industry's employment and output should be positively related to the...
Income Uncertainty and the Onset of the Great Depression
INCOME UNCERTAINTY AND THE ONSET OF THE GREAT DEPRESSION Income uncertainty contributes substantially to explaining the fall in consumption that marks the onset of the Great Depression. Consistent estimates of the variance of income...
Industry Income and Congressional Regulatory Legislation: Interest Groups vs. Median Voter
INDUSTRY INCOME AND CONGRESSIONAL REGULATORY LEGISLATION: INTEREST GROUPS VS. MEDIAN VOTER Interest group theories of regulation suggest that industries will be able to gain political benefits at the expense of the larger, but disorganized...
Liquidity Constraints and Aggregate Consumption Behavior
LIQUIDITY CONSTRAINTS AND AGGREGATE CONSUMPTION BEHAVIOR This paper presents time series evidence on the importance of liquidity constraints in aggregate consumption expenditures. In contrast to previous studies, I find the proportion...
On Journalists' Use of Macroeconomic Concepts
TEACHING TOOLS ON JOURNALISTS' USE OF MACROECONOMIC CONCEPTS Five macroeconomic concepts are presented which are prominent in the business sections of newspapers, but which are not given equivalent prominence in macroeconomic textbooks....
Racial Differences in Homeownership and Housing Wealth, 1970-1986
RACIAL DIFFERENCES IN HOMEOWNERSHIP AND HOUSING WEALTH, 1970-1986 Black couples are found to own a disproportionately low share of aggregate housing wealth in the United States because they are less likely than whites to be homeowners ...
Sectoral Shifts and Cyclical Unemployment: A Reconsideration
SECTORAL SHIFTS AND CYCLICAL UNEMPLOYMENT: A RECONSIDERATION The debate over the relative importance of sectoral and aggregate shocks in explaining fluctuations in the aggregate unemployment rate has centered on the relationship between...
Stabilization Policy Can Lead to Chaos
STABILIZATION POLICY CAN LEAD TO CHAOS Nonlinearities in economies, as elsewhere, can generate chaotic equilibria. The presence of Pareto-inferior chaotic equilibria might seem reason enough to use stabilization policy to select preferable...
Structural Unemployment in the United States: The Effects of Interindustry and Interregional Dispersion
STRUCTURAL UNEMPLOYMENT IN THE UNITED STATES: THE EFFECTS OF INTERINDUSTRY AND INTERREGIONAL DISPERSION The effects of sectoral shifts, measured by dispersion in the growth rates of employment or earning across industries or regions, on unemployment...
Taxation Aggregate Activity and Economic Growth; Further Cross-Country Evidence on Some Supply-Side Hypotheses
TAXATION, AGGREGATE ACTIVITY AND ECONOMIC GROWTH: FURTHER CROSS-COUNTRY EVIDENCE ON SOME SUPPLY-SIDE HYPOTHESES This paper investigates the effect of marginal tax rates on the level of economic activity. Data from sixty-three countries for...
The Effect of Gender-Sorting on Propensity to Coauthor: Implications for Academic Promotion
THE EFFECT OF GENDER-SORTING ON PROPENSITY TO COAUTHOR: IMPLICATIONS FOR ACADEMIC PROMOTION A cohort sample of Ph.D. economists indicates a significant propensity for researchers to select coauthors of the same sex. This gender-sorting contributes...
Voting, Spatial Monopoly, and Spatial Price Regulation
VOTING, SPATIAL MONOPOLY, AND SPATIAL PRICE REGULATION Regulations often require that local public utilities engage in high rates of freight absorption. These regulations, often mandating uniform pricing, are shown to arise logically...
"What Does She See in Him?:" the Effect of Sharing on the Choice of Spouse
"WHAT DOES SHE SEE IN HIM?": THE EFFECT OF SHARING ON THE CHOICE OF SPOUSE All husbands and wives share in the spoils of marriage. Sharing makes each partner a residual claimant and encourages spouses to provide marital inputs. However,...

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