The underlying social framework in which we live seems to becoming less social. The connections we have between individuals, businesses, and government has become impersonal and distant. If this is a valid trend of society then our connection with our elected officials may be a lot less...

This paper explores the effects of non-standard monetary policies on international yield relationships. Based on a descriptive analysis of international long-term yields, we find evidence that long-term rates have followed a global downward trend prior to as well as during the financial crisis....

Most econometric models of intrahousehold behavior assume that household decision-making is efficient, i.e., utility realizations lie on the Pareto frontier. In this paper we investigate this claim by adding a number of participation constraints to the household allocation problem. Short-run...

Most econometric models of intrahousehold behavior assume that household decision-making is efficient, i.e., utility realizations lie on the Pareto frontier. In this paper we investigate this claim by adding a number of participation constraints to the household allocation problem. Short-run...

This paper presents a model which focuses on differences between the competition policy of the EU and antitrust of the U.S. It introduces three versions - Neutral, American, and European. Two-stage game model takes the authority’s perspective and describes options and behavior of antitrust...

Opinion is divided on whether it is better to have a single world money or variable exchange rates.Pope, Selten and von Hagen (2003) propose that fresh light would be shed via an analysis that allows forseven complexity impacts on the exchange rate that are underplayed (where not entirely...

The dispute that resulted in the secession of eleven Southern states from the Union and the ensuing Civil War proximately concerned the geographical expansion of slavery, but ultimately bore on the existence of the institution of slavery itself. This paper asks why in 1861 after seventy years of...

This paper develops a model of the war against illegal drugs in both producer and consumer countries. The paper studies the trade-off faced by the government of the drug consumer country between prevention policies (aimed at reducing the demand for drugs) and enforcement policies (aimed at...

This paper contributes to the emerging literature on racial and ethnic tension by analyzing the relationship between local socio-economic conditions and the propensity for outsiders to have threatening racial encounters with insiders. We use unique data for a sample of active-duty Army personnel...

We investigate, using the 2002 US Health and Retirement Study, the factors influencing individuals' insecurity and expectations about terrorism, and study the effects these last have on households' portfolio choices and spending patterns. We find that females, the religiously devout, those...