Information on the primal and dual productivity measure is used to estimate industry mark-ups for 4-digit US manufacturing industries. Investigating the relationship between these estimates and various industry characteristics as well as their cyclical movements, it is found that mark-ups are...

In this paper it is shown that obtaining equally effective forward hedging and money market hedging implies and is implied by the validity of covered interest parity. This proposition is demonstrated by constructing combined positions consisting of long exposures on five currencies and short...

Using an innovative telephone survey design, this study investigates the possibility that 'reluctant' respondents may give significantly different willingness to pay (WTP) responses in contingent valuation surveys. Two different measures of respondent reluctance are evaluated (interviewer...

The major purpose of this paper is to determine absolute and relative changes in gender and race based, inflation-adjusted earnings costs over the period 1970-1995. Yearly estimated earnings comparisons of white males with white females, African-American males and females suggest that total...

This paper investigates the view that the often-documented negative relationship between inflation and economic growth is largely spurious, resulting primarily from supply shocks which raise inflation and hurt growth. Evidence from tests of structural breaks is consistent with this hypothesis,...

On 23 September 1993 the International Olympic Committee announced that Sydney would host the 2000 Olympic Games. Given the keen competition between rival cities bidding for the Olympics it could be argued that the winning city anticipates economic benefits to accrue from hosting the games. To...

Industry competitiveness is analysed by considering the stability of leadership positions across industries over time. Unlike earlier studies of competition which have concentrated solely on market shares the paper begins by establishing the significance of both the changes in market shares and...

The paper evaluates the Dayton Peace Agreement division of Bosnia. Based on Census data from 1991 and under plausible assumptions on all territories (pure ethnic and mixed as well), cooperative core allocations are applied to divide the country into its three parts. The highest share, which is...

Tullock recently offered six possible explanations for the observed size disparity between the rent-seeking industry in the major democracies and the value of the actual rent to be derived. One of these is the possibility that rent-seeking is considered immoral by large segments of society, who...

The validity of the monetary approach as a model of long-run exchange rate determination is examined under both fixed and flexible rate regimes. The powerful KPSS and JJ multivariate cointegration procedures are sequentially applied to test the order of integration and common trends in the...