This article discusses the evolution of income inequality in the United States. We focus mainly on the evolution of inequality since the 1960s because more data are available for this period than for earlier periods. We document that income inequality rose in the United States during the period...

The exact nature of land price gradients, the surface describing how land prices change with location, can be difficult to uncover. This is particularly true for cities with few vacant lots or in more rural regions where the number of land sales in a given area is limited. This article outlines...

Voluntary purchases of offsets for carbon emissions have been criticized as potentially increasing emissions. However, Joshua S. Gans argues that even if offsets do increase the consumption of carbon intensive goods, net emissions will always fall because these goods will become less carbon...

Title from caption. "First draft: 3 March, 1997; this version: 1 September 1997"--P. [1] -- September 1997"--Cover.

Economists think many (most?) things are subject to incentives. The evidence from ''Down Under'' suggests that even the timing of death could vary with a repeal of estate taxes.

This paper evaluates whether the relative concentration of funding for small, research-oriented firms in a small number of high-technology industries is related to differences across industries in the appropriability level facing small firms. We exploit a novel test based on the relationship...

We analyse vertical integration when there is upstream competition and compare outcomes to the case where upstream assets are owned by a single agent (i.e., upstream monopoly). In so doing, we make two contributions to the modelling of strategic vertical integration. First, we base industry...

A socially optimal structure of application and renewal fees for patents would encourage the maximal number of applications while reducing effective patent length. We find, however, that when patent offices are required to be self-funding, resource constraints can distort this fee structure....

Recent concern has arisen with regard to the potential for introducing competition in previously protected sectors as customer switching costs may make entry (and hence, aggressive price competition) difficult to achieve. An excellent example of this arises telecommunications deregulation with...