The process of occupational upgrading has received a significant amount of attention from labor economists in recent years. This is not surprising given that approximately ten percent of the American labor force will change occupations each year (Byrne, 1975; Rosenfeld, 1979) and that labor mobility...

The research for this paper focuses on the implied expected exchange rates between the U.S. dollar and the Deutsche Mark. We use one year debt yield and one year inflation forecasts to derive expected exchange rates based on uncovered interest arbitrage and on the purchasing power parity...

In an earlier paper published in this journal, Michael Bond and Gerald Smolen (1986) set out to test for the presence of the Darby‐Feldstein effect. They regressed the nominal rate of taxable long‐term securities on the nominal yield of long‐term tax exempt municipal securities. They...

William Gissy (1987) is absolutely correct when he asserts that the existence of a complete inverted Fisher Effect renders our test for the Darby Effect a simple measure of tax arbitrage. His mathematical development of this is well done and completely valid. Our statement on page 59 of our...

A. Demand -- 1. Engel curve estimation with individual data -- 2. Estimating and testing an almost ideal demand system -- 3. Job separations and job matching -- 4. Estimating the intertemporal elasticity of substitution for consumption from household budget data -- 5. Associated with an income...

One. Rights, Institutions, and Public Policy -- 1. Man and the State -- 2. The Market and The Metamarket -- 3. The Limits of Economic Policy -- Two. Socialism: Philosophical Issues -- 4. Is Socialism Inevitable? Historical Prophecy and the Possibilities of Reason -- 5. Socialism: Do The Ends...

I. Introduction -- 1. Law and Economics and the Economics of Legal Regulation -- II. Law and Economics -- 2. Efficiency, Equity and Inalienability -- 3. Negotiated Settlement -- 4. Economic Efficiency and the Common Law: A Critical Survey -- 5. Default Risk and the Optimal Pricing of Court...

Current antitrust doctrine seemingly accepts average variable cost as one possible boundary between competitive and predatory pricing. Certain authors contend, however, that equally efficient rivals can sometimes be excluded from a market even when a dominant firm prices above its own average...