Executive compensation equations are estimated separately for three groups of firms, under the contention that the determinants of executive remuneration may depend upon the form of and degree of regulation in an industry. Empirical evidence obtained for three separate years lends support to...

This paper presents rankings of economics journals taken from a recent survey of economics department heads. Different rankings were derived for those with different research areas and those associated with different types of academic institutions. It was found that rankings were quite similar...

This research applies the loanable funds theory in an international framework to investigate government borrowing's effect on U.S. interest rates. The equations estimated offer little support for the hypothesis that government borrowing raises interest rates and no evidence that inflows of...

Should the enforcers of rules inform potential violators about how likely violations will be detected? In practice, there is some mixture of revelation and secrecy‐police inform potential speeders about new detection technologies, but not about other dimensions of detection. We explain the mix...

The concept of intellectual property poses potentially difficult questions for those sympathetic to the Austrian economic viewpoint. Austrians are staunch proponents of the free market and this leads them to strongly defend private property rights. It also leads to a strong condemnation of...

Gibrat's Law of Proportionate Effect is reconsidered by assuming a process of stochastic growth and decline of firms in an industry. With the assistance of computer simulations it is shown that such a process leads to an even more skewed size distribution of firms than a random process of growth...

Simultaneous changes in demand and supply produce indeterminate results on equilibrium price or quantity. This paper provides a rigorous analysis of the factors responsible for indeterminacy and applies these findings to problems of tax and subsidy incidence and situations involving simultaneous...