In this paper, performance of the KPSS tests of Kwiatkowski et al. (Journal of Economics, 54, 159-78, 1992) and the generalized fluctuation tests (GFL) of Kuan and Hornik (Economic Reviews, 14, 135-61, 1995) and Kuan (Journal of Econometrics, 84, 75-91, 1998) are investigated for the null of...

The STAR model is used to characterize the time series of aggregate consumption. It makes smooth transition from one optimal level to another, as heterogeneous individuals reach their optimal revision points over time. These results suggest that consumption adjustment costs and heterogeneity...

This paper contributes to the literature on total factor productivity (TFP) in Chinese industry. First, an adjusted TFP index is calculated through deflating raw data on TFP in Chinese industry using indexes on technological innovation in Japan and the United States. Second, the TFP index is...

Minority workers in New Zealand are significantly less likely to receive employer-provided training. The contribution of differences in average characteristics and differences in the returns to those characteristics across ethnic groups are highlighted in this paper. The decomposition used deals...

This paper investigates the nature of competition in the US market for fresh lemons. Empirical results indicate that market dominance on the part of Sunkist Growers, Inc. enhanced supra-competitive prices, while a change in the scheme of orderly lemon marketing did not influence competition in a...

This empirical examination compares product innovation under price caps and Rate of return regulation (RoRR) in US telecommunications. The econometric model comprises a count process (for product innovation) followed by a duration process (for regulatory delay). More services were created under...

Does competition suppress racial wage discrimination? Previous research in this area is quite limited and generally inconclusive. This paper tests for the effects of reduced monopsony power on racial wage discrimination against nonwhite Major League pitchers during the 1992 and 1993 seasons....

This paper assesses the stability of the money-income relationship for seven OECD countries. When the sample was split into two subsamples: pre- and post-1980, the empirical evidence presented in this paper shows that even if the inferences gathered across countries are not always parallel, the...

The 'Brainard conservatism principle' states that the optimal monetary policy rule should be less aggressive when uncertainty about parameters is taken into account. However, this principle is not fully general and may be reversed in some cases. This paper examines the implications of parameter...

Between 1993 and 1995, the majority of German firms in services introduced new organizational practices (OC), in particular total quality management systems, certified ISO 9000, lean administration, flatter hierarchies, delegation of authority and ICT-enabled organizational changes. This paper...