Contemporary Economic Policy

Articles from Vol. 12, No. 1, January

Caseload Impacts of Welfare Reform
I. INTRODUCTION In recent years, several states have undertaken welfare-reform demonstrations that provide a richer set of education, job training, or support services to assist female household heads break the cycle of long-term welfare dependency...
Changes in Water Allocation Mechanisms for California Agriculture
1. INTRODUCTION The increasing difficulty (and cost) of expanding water resources and increasing urban and environmental demand for water are inducing changes in California's water policies. Agriculture accounts for 75 percent of all water used...
Countertrade as Trade Creation and Trade Diversion
I. INTRODUCTION Countertrade (CT) grew dramatically in the world economy during the 1970s and 1980s. Common explanations for CT cite national strategies for overcoming foreign exchange and credit constraints and business strategies for creating...
Determinants of the Saving Rate: An International Comparison
I. INTRODUCTION The saving rate is a key performance indicator for development policy. Despite the crucial role that saving plays in the development process, economists have not reached conclusive answers about the role of various economic and...
Impact of Intellectual Property Rights on Genetic Diversity: The Case of U.S. Wheat
I. INTRODUCTION Genetic diversity in the major U.S. field crops is an important defense against pest or disease epidemics. If most crop varieties have common characteristics due to common ancestors, then the crop may be susceptible to a new disease...
Impact of Trade on Service Sector Employment: Implications for Women and Minorities
I. INTRODUCTION The service sector has accounted for virtually all U.S. job growth since 1972, employing 70 percent of the labor force in 1986 and 77 percent in 1990 (Carey and Franklin, 1991). However, international trade's demographic effects...
Keiretsu Shareholding Ties: Antitrust Issues
I. INTRODUCTION A 1957 Supreme Court ruling found that Du Pont violated antitrust laws by holding a 23 percent stock interest in General Motors (GM). GM was a Du Pont customer. In 1947, GM purchased 68 percent of its paint and 38 percent of its...
Outside Influences on Monetary Policy: A Summary of Recent Findings
I. INTRODUCTION In the past three decades, scholarly economics journals and textbooks on money and banking have changed their view of monetary policymakers. During the 1960s, the almost universal view was that monetary policymakers were independent...
Recent Trends in Job Training
I. INTRODUCTION Many doubt that American workers have the skills needed to earn high wages in the competitive world economy. Three recent reports conclude that American firms' human resource practices perpetuate a low-skill use of the non-college...
Role of Voluntary Programs in Agricultural Nonpoint Pollution Policy
I. INTRODUCTION Public awareness about the health and environmental consequences of agricultural chemical use has continued to grow following publication of Rachael Carson's Silent Spring in 1962. That concern led policymakers to form the Environmental...
Trade Creation and Diversion Effects of the U.S.-Canadian Free Trade Agreement
I. INTRODUCTION Over the past decade, a number of studies have provided the methodology to estimate benefits of a regional economic integration. One can estimate the benefits from cuts in tariff and nontariff barriers to free trade as the sum...
Why the Composite Index of Leading Indicators Does Not Lead
I. INTRODUCTION Among all the indexes designed to give advance warning of business-cycle turning points, the Commerce Department's composite index of leading economic indicators (CLI) is the most widely publicized.(1) The popular press touts...
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