"During the 2008 presidential campaign, Obama promised time after time "a net spending cut" to make government smaller in order to cut the deficit. But the huge increase in government spending and debt, and the resulting higher future taxes will make America a poorer country. The Congressional...

"In the Grutter case, Justice O'Connor suggested that universities could justifiably try to enroll a "critical mass" of minority students. Enroll fewer than that "critical mass," reason some observers, and minority students will feel too marginalized to perform at their highest levels. In this...

Previous literature has produced weak evidence to support the hypothesis that real economic news affects stock returns. This is, in part, attributed to the difficulty of measuring how investors interpret macroeconomic announcements in different economic environments. In this paper, we choose a...

This paper shows that most of the large recent increases in campaign spending for Federal and state offices can be explained by higher government spending. This result holds for both Federal and state legislative campaigns and gubernatorial races and across many different specifications....

Much recent research in the economics of information has analyzed the implications of alternative market structures in the presence of qualitative characteristics which cannot be accurately and objectively measured or described. This approach avoids the more basic question of the influence of...