Economic Inquiry

Articles from Vol. 28, No. 1, January

Advertising and Product Quality in Posted-Offer Experiments
ADVERTISING AND PRODUCT QUALITY IN POSTED-OFFER EXPERIMENTS I. INTRODUCTION For years the Federal Trade Commission (FTC) has attacked unfair and deceptive advertising. Recently it has turned its attention to errors of omission rather than...
An Analysis of Import Expansion Policies
AN ANALYSIS OF IMPORT EXPANSION POLICIES 1. INTRODUCTION Policy makers appear to display unlimited ingenuity in devising new and ever more complex measures to influence international trade. No sooner did the profession come to understand the...
Attendance Rates, Political Shirking, and the Effect of Post-Elective Office Employment
ATTENDANCE RATES, POLITICAL SHIRKING, AND THE EFFECT OF POST-ELECTIVE OFFICE EMPLOYMENT I. INTRODUCTION Political shirking--the degree to which a politican's actions deviate from the wishes of his constituents--can take many different dimensions....
Does Exchange Rate Appreciation 'Deindustrialize' the Open Economy? A Critique of U.S. Evidence
DOES EXCHANGE RATE APPRECIATION 'DEINDUSTRIALIZE' THE OPEN ECONOMY? A CRITIQUE OF U.S. EVIDENCE I. INTRODUCTION The sharp appreciation of the dollar in the early 1980s, followed by its decline since 1985, has generated considerable interest...
Karl Brunner, 1916-1989
Karl Brunner, 1916-1989 On May 9, 1989, Karl Brunner died of a non-malignant spinal tumor at his home in Rochester, N.Y. Although disabled by his illness, he continued to work until a few weeks before his death. Some of this work will be published...
Long-Run Equilibrium in the Empirical Study of Monopoly and Competition
LONG-RUN EQUILIBRIUM IN THE EMPIRICAL STUDY OF MONOPOLY AND COMPETITION I. INTRODUCTION One of the central propositions of economic theory, formulated by (among others) Hirshleifer [1976, 319] and Malinvaud [1972, 239], is that industry rates...
On Integrating the Ricardian Equivalence Theorem and the IS-LM Framework
ON INTEGRATING THE RICARDIAN EQUIVALENCE THEOREM AND THE IS-LM FRAMEWORK I. INTRODUCTION It is well established that government bond sales have no real macroeconomic consequences if the Ricardian Equivalence Theorem (RET) is true. Specifically,...
The Catch-Up Factor in Postwar Economic Growth; Presidential Address to the Western Economic Association, June 21, 1989
THE CATCH-UP FACTOR IN POSTWAR ECONOMIC GROWTH PRESIDENTIAL ADDRESS TO THE WESTERN ECONOMIC ASSOCIATION, JUNE 21, 1989 I This talk is about two of the central concerns of our time. One is the pronounced slowdown of productivity...
The Growth of Social Security: Electoral Push or Political Pull?
THE GROWTH OF SOCIAL SECURITY: ELECTORAL PUSH OR POLITICAL PULL? I. INTRODUCTION During the post World War II period, the social security program was among the fastest growing programs in the federal budget, surpassing defense spending as the...
The U.S. Embargo Act of 1807: Its Impact on New England Money, Banking, and Economic Activity
THE U.S. EMBARGO ACT OF 1807: ITS IMPACT OF NEW ENGLAND MONEY, BANKING, AND ECONOMIC ACTIVITY I. INTRODUCTION The period 1793 through 1807 was one of unusual prosperity in the United States, paced by the growth of American carrying and re-export...
Worker Attitudes and the Cost of Production: Hypothesis Tests in an Equilibrium Model
WORKER ATTITUDES AND THE COST OF PRODUCTION: HYPOTHESIS TESTS IN AN EQUILIBRIUM MODEL I. INTRODUCTION U.S. labor productivity growth, resulting in a tripling of real GNP from the end of World War II to 1973, began to slow down in the mid-1960s...
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