There appear to be two distinct views on the level of competitive balance within Major League Baseball. One view, mostly associated with academics, is that competition is more equal today than it ever has been. The other view, mostly associated with the media and the industry, is that...

Some economists have argued that the close association between domestic saving and investment rates justify polices aimed at altering domestic saving flows so as to influence domestic investment flows. This interpretation assumes an endogenous investment response. Equally likely, theoretically,...

In order to assess the relative rigidity of the aggregate price level and the nominal wage rate most researchers have focused on the implied behaviour of the real wage rate in response to a purely demand disturbance. The present work examines the explicit behaviour of the two variables and is...

We provide a response to Beech's review of The Wages of Wins: Taking Measure of the Many Myths in Modern Sport in this journal. Specifically we are responding to three misinterpretations and/or misstatements in the book review. At the end of each section we explain the process in which we reach...

Measuring the level of competition in an industry is an empirical task with a lengthy history. Many of the traditional measures offer a snapshot of the industry, where the distribution of market share is examined at a given point in time. The purpose of this inquiry is to utilize a...

Recently numerous studies have maintained that post-1990 data no longer supports a long-run M2 demand relationship. Suggestive of the failure, several authors have shown that the errors associated with forecasting real income fluctuations increase once the M2 demand vector error-correction...

This paper examines the efficiency gains yielded from estimating multiple equation cointegrated systems as compared to their single equation counterparts. In particular, this paper is concerned with the ability of utilizing the cointegrating information to improve forecasting performance....

Protracted labour disputes in professional team sports have become increasingly common in the past 30 years. Although each of the four major professional team sports in the USA have experienced episodes of labour strife, Major League Baseball has the longest and most frequent experience with...

Empirical examinations into aggregate money demand functions, generally, incorporate a monetary aggregate as the dependent variable. While this custom may be inefficient, it does not create any new difficulties for estimating the demand function's long-run parameters, as money supply would equal...