We estimate an asymptotically ideal model of the demand for UK personal sector monetary assets. We use data that are consistent with utility--maximizing behaviour, and find that UK monetary assets are generally substitutes in use. The estimated elasticities of substitution during the 1980s and...

Swofford (1999) discussed three cases when ticket scalping or other reselling might arise. These cases are reviewed in light of Spindler’s (2003) observation that a perfect price-discriminating ticket scalper could capture all the revenue from the all or none demand curve. Such a price...

Common currency areas and Asian common currency areas in particular are highly topical and somewhat controversial areas for research. We explore the hypothesis that the members of the Association of Southeast Asian Nations meet necessary conditions for forming a common currency area and whether...

The distortion of the labor-leisure choice by the Social Security payroll tax is well known. This paper uses a life-cycle model of labor-force effort to show that the combination of the Social Security payroll tax and a maximum taxable income alters the optimum time path of work. We analyze a...

Ticket scalping is typically analyzed from the point of view of the demanders of the product. The question of why a profit-maximizing producer would let someone purchase its product for speculation or arbitrage has typically been ignored in the literature. There are at least three reasons why a...