Economic Inquiry

Articles from Vol. 35, No. 1, January

Cross-Country Evidence on Long-Run Growth and Inflation
I. INTRODUCTION Many believe inflation has important adverse effects on long-run economic performance. This conviction is based on the logic - summarized by Fischer and Modigliani [1978], for example - that firms and workers devote productive resources...
More Evidence on the Money-Output Relationship
I. INTRODUCTION The empirical relationship between money and real output continues to produce conflicting evidence. Stock and Watson [1989], using monthly U.S. data for the period 1960-85, report that while actual money growth (M1) does not Granger...
Political Instability and Debt Maturity
I. INTRODUCTION Political instability has been blamed for many poor macroeconomic outcomes such as high inflation, unemployment, low growth and large debts. For example, Alesina [1989] shows that political instability is positively related to Okun's...
The Effect of Selective INS Monitoring Strategies on the Industrial Employment Choice and Earnings of Recent Immigrants
I. INTRODUCTION Recent work explores the labor-market impact of employer sanctions embodied in the Immigration Reform and Control Act of 1986.(1) An emerging consensus in this research suggests that the new law's effect on the number of undocumented...
The Primacy of Economics: An Explanation of the Comparative Success of Economics in the Social Sciences
I The strong export surplus economics maintains in its trade in ideas and methods with the other social sciences is an important indicator of the success of economics. Not much has been said about the source of this success, but it has been attributed...
The Role of the Median Legislator in U.S. Trade Policy: A Historical Analysis
I. INTRODUCTION Tariff and trade policies have an interesting and dynamic history in the United States. Of critical importance to this history is the role played by the U.S. Congress. For most of U.S. history Congress was very active in setting levels...
Unemployment and Financial Constraints Faced by Small Firms
I. INTRODUCTION Recent analyses of the decision to engage in entrepreneurial activity emphasize the importance of financial factors. Evans and Leighton [1989] present evidence that an increase in an agent's assets increases the probability that the...
Wage Secrecy as a Social Convention
There is a time to keep silent, and a time to speak out. Ecclesiastes 3:7 Ask anyone who works for a living how much money he or she makes, and you are likely to encounter a range of responses from evasion to outright hostility. Such responses, however,...
Worker Effort Decisions and Efficient Gender-Specific Wage-Tenure Profiles
I. INTRODUCTION During the past thirty years women have increased their labor force participation. Female labor market intermittency has decreased and women's total labor market experience and years of tenure with the current employer have increased....

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