Contemporary Economic Policy

Articles from Vol. 19, No. 3, July

Advertising Restrictions, Competition, and Alcohol Consumption
KUMIKO OKUYAMA [*] Distilled spirits producers recently voted to eliminate their voluntary ban on broadcast advertising. The ban received public support because of the high social cost associated with alcohol consumption and the belief that advertising...
Can P.S. 27 Turn a Profit? Provision of Public Education by For-Profit Suppliers
DOUGLAS J. LAMDIN [*] School districts in the United States have begun to use for-profit contractors to provide management and instructional services. Studies of this phenomenon are limited because this alternative to public provision is relatively...
Complementary Measures to Foreign Aid: Taiwan and the PRC under Diplomatic Rivalry
RICHARD C. LIN [*] The competition on foreign aid, as a means for securing foreign policy and other benefits by the donor, can lead to diplomatic rivalry. This article utilizes a game theoretic model to analyze the existing rivalry for foreign aid...
Currency Convertibility and Linkage between Chinese Official and Swap Market Exchange Rates
DAVID J. LEATHAM [*] This article investigates the impact of currency convertibility under the current account on the informational linkage between official and swap market exchange rates for Chinese currency (renminbi). Findings indicate that currency...
Determining the Base Cost of Education: An Analysis of Ohio School Districts
JOHN RUGGIERO [*] The Ohio Supreme Court recently ruled that Ohio's elementary and secondary public school financing system violates the state's constitution. It was estimated that an additional $1 billion is necessary to overhaul the current system....
FINANCIAL MARKET RESPONSES TO MONETARY POLICY CHANGES IN THE 1990s
PAUL WACHTEL [*] The operating target for monetary policy in the United States has changed from borrowings in the late 1980s to a target range for the fed funds rate to a specific fed funds target. In addition, secrecy about the policy target has...
Inflation Targeters in Practice: A Lucky Lot?
FRANCISCO DE A. NADAL-DE SIMONE [*] Some observers have attributed the success of inflation targeters in reducing inflation to the global disinflation of the 1990s. As a result, inflation targeting countries have been considered to be a lucky lot....
Predicting the Effects of Changes in Welfare Payments on the Probabilities of Receiving Alternate Sources of Income: The Case of Homeless Persons in Los Angeles
STEPHEN J. CONROY [*] This article investigates the role that changes in welfare payments are likely to have on the earnings behavior of homeless persons. Using a cross-sectional random sample of 1,489 homeless persons in Los Angeles, the author...
The Effect of Open Spaces on a Home's Sale Price
NOELWAH R. NETUSIL [*] The relationship between a home's sale price and its proximity to different open spaces types is explored using a data set comprised of single-family home sales in the city of Portland, within Multnomah County, between 1990...
Western Rangelands Reform: An Analysis of the 1996 Senate Vote on Federal Grazing Fees
JON P. NELSON [*] Grazing of livestock on public lands is a controversial environmental issue, despite a long history of federal regulation of this activity. Environmentalists and economists have argued that grazing fees charged by the Bureau of...
What Attracts Foreign Multinational Corporations to China?
KEVIN HONGLIN ZHANG [*] After adopting the open-door policy, China experienced a boom of inward foreign direct investment (FDI) by multinational corporations. This article attempts to assess effects of location characteristics and government policies...
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