Economic Inquiry

Articles from Vol. 50, No. 3, July

Alternative Paths to Parenthood: IVF or Child Adoption?
I. INTRODUCTION Infertility, defined as the inability to conceive after 1 year of unprotected intercourse, is recognized as a medical condition. In the United States, infertility is a growing problem: over the last several decades, age-related infertility...
Andreas Heinrich Voigt and the Hicks-Allen Revolution in Consumer Theory
I. INTRODUCTION In a recent paper, Schmidt and Weber (2008) showed that a heretofore almost forgotten late nineteenth-century German mathematician and economist, Andreas Heinrich Voigt, (1) argued explicitly for an ordinal approach to utility in...
California's Exports and the 2004 Overseas Office Closures
I. INTRODUCTION Nearly all states in the United States fund export promotion programs such as overseas offices. State officials often justify using tax dollars on overseas offices by claiming that the offices help small- and medium-sized firms initiate...
Can Trade Really Hurt? an Empirical Follow-Up on Samuelson's Controversial Paper
I. INTRODUCTION In what has become quite a controversial paper, Samuelson (2004) has renewed the discussion that trade does not always and automatically bestow overall gains on each trade partner. Specifically, he discusses in a Ricardian setting...
Deliberation and Learning in Monetary Policy Committees
I. INTRODUCTION Recent theoretical and experimental work on the monetary policy decision process supports the argument that committees may make better policy decisions than individuals (e.g., Blinder 2007; Blinder and Morgan 2005; Gerlach-Kristen...
Domestic or U.S. News: What Drives Canadian Financial Markets?
I. INTRODUCTION Canada, as a small open economy, depends to a large extent on global economic developments. Trade and capital flow linkages to its major trading partners, as well as the foreign interest rate level, are important for the Canadian...
FDI and Income Inequality: Evidence from a Panel of U.S. States
I. INTRODUCTION The challenges that foreign direct investment (FDI) might involve for high-income countries such as the United States are typically discussed with respect to the domestic repercussions of foreign activities of U.S.-based multinational...
Information, Institutions, and Banking Sector Development in West Africa
I. INTRODUCTION Banks and other financial intermediaries can perform an important developmental function, especially in Africa, where alternative sources of finance are limited or nonexistent. By providing firms with essential finance, they help...
Knowledge Capital, International Trade, and Foreign Direct Investment: A Sectoral Analysis
I. INTRODUCTION The relationship between foreign direct investment (FDI) and international trade has long generated great interest. This interest is sharpened by the phenomenal growth in the magnitude of global FDI flows in the last two decades....
Modeling Informality Formally: Households and Firms
I. INTRODUCTION Recent estimates indicate that around 10% of gross domestic product (GDP) in the United States is produced by individuals or firms that evade taxes (Schneider and Enste 2000). In Latin America, approximately 50% of all salaried employees...
Money, Output, and Inflation in the Longer Term: Major Industrial Countries, 1880-2001
I. INTRODUCTION The empirical role of money growth in the macroeconomy has been studied by many researchers using different data and methods. The most prominent studies focusing on the quantity theory of money are those of Friedman and Schwartz...
More Information Is Not Always Better: The Case of Voluntary Provision of Environmental Quality
I. INTRODUCTION Policymakers and activists have dedicated a great amount of effort to inform the public about the causes and consequences of climate change and ways households can curb their emissions of greenhouse gases. (1) Solutions that rely...
Should Cities Go for the Gold? the Long-Term Impacts of Hosting the Olympics
I. INTRODUCTION On October 2, 2009, Rio de Janeiro won the fight to host the 2016 Olympics. Brazilians celebrated on the beaches of Copacabana, while members of the Chicago2016 Committee (the group organizing the bid on behalf of the city) were...
The Importance of Trade Costs in Deviations from the Law-of-One-Price: Estimates Based on the Direction of Trade
I. INTRODUCTION We hold that economic theory places restrictions on Law-of-One-Price (LOP) deviations that are no less important than those placed on their changes. (1) At the same time, most of the prior macroeconomic literature on this topic had...
Tournaments, Fairness and the Prouhet-Thue-Morse Sequence
I. INTRODUCTION Mathematician Axel Thue discovered in Thue (1912) the Prouhet-Thue-Morse sequence while studying avoidable patterns in binary sequences of symbols, e.g., 0, 1. This sequence is defined by forming the bitwise negation of the beginning:...
Trade, Geography and the Skill Premium in U.S. Manufacturing
I. INTRODUCTION The discernible increase in wage inequality in developed countries over the past several decades has been a topic of considerable interest in both the international trade and labor economics literatures. A number of studies have...
Vanishing Leadership and Declining Reciprocity in a Sequential Contribution Experiment
I. INTRODUCTION Contributing sequentially is a widespread practice for a large variety of public goods, ranging from dish washing in households to the ratification of international treaties by states. Academic research, free Wikipedia, and telethons...
What Motivates Political Preferences? Self-Interest, Ideology, and Fairness in a Laboratory Democracy
I. INTRODUCTION Why do people support income redistribution? While classical economic theory supposes that individuals possess purely self-interested preferences, countless demonstrations both in the lab and in the field suggest that individual...

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