This paper examines the size anomaly on the Taiwan Stock Exchange over the period 1971-93. Using a sample of all listed stocks, this research finds that the smallest size quintile earns a significantly higher abnormal return than other four size portfolios over the whole sample period. Moreover,...

This paper investigates the differences between negotiated and arbitrated settlements in the footballers transfer market utilizing a data set containing FLAC decisions covering the period 1978-9 to 1991-2. Our analysis suggests that arbitrated settlements deflate transfer fees compared with...

Following the technique of bivariate probit with partial observability, I find the evidence that one reason US workers queue for local government jobs is to obtain union status. The average desire probability for local government union jobs is found to be twice as large as the desire probability...

When total income consists of a number of factors, the Gini coefficient measuring income inequality can be decomposed into factor components. Some traditional decomposition methods rely on calculating the covariances between incomes and their ranks. Such methods have obvious limitations in...

A number of studies examine the link between access to medical care and health status. Previous studies find little or no relationship between the availability of health care and health status. We examine the issue separately for metropolitan and rural areas. We find that the number of...

The aim of this paper is to introduce and test a new approach for the measurement of the marginal rate of time preference for life-years gained based on contingent valuation techniques. A simple binary willingness to pay question is administered in a general public sample of two age groups (34-5...

We analyse the determinants of the public's relative concerns about inflation and unemployment using responses to the Gallup Poll question on the relative seriousness of inflation and unemployment. We then estimate the rate of inflation that politicians will choose to impose on the US economy...

This paper outlines a method for controlling for compositional factors in the measurement of poverty. The method is based in shift-share analysis and direct standarization, the later technique popular in the field of demography. The method is consistent with Sen's influential axiomatic approach...

This note presents results from tests on the proposition that a 'surprise' in inflation is positively related to the equity premium using data from four financial markets: the United States, Japan, the United Kingdom and Germany. The results appear to confirm previous work by Blanchard...

The issue of beta forecasting is explored using Australian stock returns data. A simple market model is fitted to individual stock data over the period 1983 to 1987 and the beta estimated from this sample is used to forecast the market model beta over the period 1988 to 1992. It is found that a...