Contemporary Economic Policy

Articles from Vol. 19, No. 1, January

Assessing Damages: The 1983 Israeli Bank Shares Crisis
RICHARD S. GROSSMAN [*] In 1983, Israeli bank shares collapsed following several years during which the banks had actively intervened to promote share prices and thereby contributed to a 300% rise in real terms. During the crisis the government...
Determinants of School Enrollment and Performance in Bulgaria: The Role of Income among the Poor and Rich
FREDERICK J. ZIMMERMAN [*] Where credit markets are incomplete, households must finance educational investments out of past savings or current earnings. Poor households, with low savings and low current income, may accordingly be highly constrained...
Does Trade Adjustment Assistance Help Trade-Displaced Workers?
LEAH E. MARCAL [*] The federal Trade Adjustment Assistance (TAA) program was designed to aid workers who have lost their jobs because of increased import competition. Linear earnings functions provide little evidence that the TAA program increases...
Hayekian Economic Infrastructure as a Foundation for Sustained Prosperity
JERRY L. JORDAN [*] Rather than debate whether technical advances have created a "new economy," economists should focus on the more interesting and useful question: How do we create the sort of environment in which innovation and the productive...
Household Inequality and the Labor Market in South Africa
INGRID WOOLARD [*] There has been very little detailed exploration of the relationship between wage income and household inequality in South Africa despite the relevance of this issue for many contemporary growth and development policy debates....
Inflation Targeting and the Economy: Lessons from Canada's First Decade
CHARLES FREEDMAN [*] Inflation targeting has become the centerpiece of the monetary policy framework in a number of industrial countries and emerging economies. The first part of this article examines the Canadian experience with inflation targeting...
Intergovernmental Grants and the Positioning of Presidential Primaries and Caucuses: Empirical Evidence from the 1992, 1996, and 2000 Election Cycles
DAVID L. HOBSON [*] The present study tests the theory that states can impact the size of the grants they receive (per capita) from the federal government by becoming pivotal players in the federal electoral (primary/caucus) process. That is, by...
The Relative Importance of Effort, Organization, and Technological Change in Chinese Factories
HUAGANG LI [*] Production reports from a set of Chinese factories reveal very rapid productivity growth from 1980 to 1991. To understand the underlying factors, the effects of work effort and labor organization are separated from the productivity...
The Research Assessment Exercise and the Reform of Academic Tenure in the United Kingdom
JONATHAN S. SEATON [*] In this article the reform of academic tenure is examined in the United Kingdom. We test the hypothesis that reforming tenure may have reduced performance in the universities. The years following the 1988 Education Reform...
The Wealth of Nations: Growth, Ideas, and Technology
MICHAEL R. DARBY [*] In the following aricles Freedman and Jordan examine institutional arrangements that promote high and rising incomes. The quality of institutions may be as important as human capital, investment, and population growth in determining...