This paper uses a cost-of-time framework to link two seamingly unrelated trends. First, greater aggregate income inequality has been accompanied by greater geographic income specialization. Second, compensation costs (relative to sales) of suburban retail stores have risen, compared to city...

Press reports of procurement fraud investgations, indictments, and suspensions are associated with significantly negative average abnormal returns in the stocks of affectd firms. Abnormal stock returns are significantly less negative, however, for firms ranking among the top 100 defense...