Recently added articles from Economic Inquiry:
WHAT DETERMINES CORRUPTION? INTERNATIONAL EVIDENCE FROM MICRODATA
Oct 01, 2008; ... This paper uses a microlevel data set from 49 countries to create a direct measure of corruption, which portrays the extent of bribery as revealed by individuals who live in those countries. In addition, it investigates the determinants of being asked for a bribe at the individual level. The ...
SHOULD OIL PRICES RECEIVE SO MUCH ATTENTION? AN EVALUATION OF THE PREDICTIVE POWER OF OIL PRICES FOR THE U.S. ECONOMY
Oct 01, 2008; ... This paper evaluates the potential gains from using oil prices to forecast a variety of measures of inflation, economic activity, and monetary policy-related variables. With a few exceptions, oil prices do not have any predictive content for these variables. This finding is robust to the use of ...
THE CYCLICAL BEHAVIOR OF PRICES AND RELATIVE PRICES
Oct 01, 2008; ... Price and output shock correlations provide information concerning macroeconomic shocks. Previous research generally finds small or negative correlations between real gross domestic product (GDP) and GDP deflator shocks but positive correlations between industrial production (IP) and consumer ...
VOLATILITY AND IRISH EXPORTS
Oct 01, 2008; ... We analyze the impact of volatility per se on real exports for a small open economy concentrating on Irish trade with the United Kingdom and the United States. An important element is that we take account of the time lag between the trade decision and the actual trade or payments taking place by ...
DISAGGREGATE EVIDENCE ON PRICE STICKINESS AND IMPLICATIONS FOR MACRO MODELS
Oct 01, 2008; ... We use the methodology applied at the aggregate level by Gali and Gertler (1999) to analyze price and cost data for U.S. six-digit North American Industry Classification System (NAICS) industries. Industries with price adjustment periods of at least 6 quarters generate no more than about 43% of ...
DIFFERENTIAL DEPOSIT GUARANTEES AND THE EFFECT OF MONETARY POLICY ON BANK LENDING
Oct 01, 2008; ... This paper utilizes differences in de jure deposit insurance coverage across banks and changes in coverage over time to identify a bank-lending channel in Poland. Banks with partial guarantees have a stronger loan response to monetary policy than banks with full guarantees. Furthermore, the weak ...
SCHOOLS, SKILLS, AND SYNAPSES
Jul 01, 2008; ... This paper discusses (a) the role of cognitive and noncognitive ability in shaping adult outcomes, (b) the early emergence of differentials in abilities between children of advantaged families and children of disadvantaged families, (c) the role of families in creating these abilities, (d) ...
THE ROLE OF THE BIDDING PROCESS IN PRICE DETERMINATION: JUMP BIDDING IN SEQUENTIAL ENGLISH AUCTIONS
Jul 01, 2008; ... This paper uses data collected from a series of public auctions of used cars in New Jersey to examine how strategic bidding affects price determination in open-outcry English auctions. "Jumps" in the bidding, which occur when a new offer exceeds the old offer by more than the minimum bid ...
FIXED REVENUE AUCTIONS: THEORY AND BEHAVIOR
Jul 01, 2008; ... In this paper, we study auctions in which the revenue is fixed but the quantity is determined by the auction mechanism. Specifically, we investigate the theory and behavior of English quantity clock, Dutch quantity clock, last-quantity sealed bid, and penultimate-quantity sealed bid auctions ....
ROBUSTNESS OF BIDDER PREFERENCES AMONG AUCTION INSTITUTIONS
Jul 01, 2008; ... In previous work, we found that bidders strongly prefer the ascending to the first-price sealed-bid auction on a ceteris paribus basis, but perhaps surprisingly, they are not willing to pay up to an entry price for the ascending auction that would equalize the profits. Risk aversion was proposed ...
SOME EVIDENCE ON LATE BIDDING IN EBAY AUCTIONS
Jul 01, 2008; ... Bidding in the last seconds or minutes of an auction is a common strategy in Internet auctions with fixed end-time. This paper examines the three explanations of late bidding in eBay auctions that survived the first scrutiny in Roth and Ockenfels (2002). There is no indication that late bidding ...
RACE AND CHARITABLE CHURCH ACTIVITY
Jul 01, 2008; ... The availability of public funding for charitable church activity has increased dramatically in recent years. A key dispute over this increase is whether congregations' propensity to provide charitable services depends upon the local community's racial composition. Using three congregation-level ...
POLITICAL ECONOMY AND THE SOCIAL MARGINAL COST OF PUBLIC FUNDS: THE CASE OF THE MELTZER-RICHARD ECONOMY
Jul 01, 2008; ... In previous studies on the social marginal cost of public funds (SMCF), the existing tax system has been assumed to be either arbitrary or optimal. This note explores another possibility: the existing tax system itself represents a political equilibrium. Our exploration proceeds in Meltzer and ...
THE INFLUENCE OF SOCIAL FORCES: EVIDENCE FROM THE BEHAVIOR OF FOOTBALL REFEREES
Jul 01, 2008; ... Analyzing the neutrality of referees during 12 German premier league (1. Bundesliga) soccer seasons, this paper documents evidence that social forces influence agents' decisions. Referees, who are appointed to be impartial, tend to favor the home team by systematically awarding more stoppage ...
STRICT PRODUCT LIABILITY AND SAFETY: EVIDENCE FROM THE GENERAL AVIATION MARKET
Jul 01, 2008; ... This paper examines the impact of a strict product liability standard on the accident rate in the general aviation (GA) industry. Liability expenses increased by 775% between 1976 and 1986, reducing the sales of new GA aircraft by 90% and increasing the age of the GA fleet. Using both aggregate ...
WORK-RELATED ACCIDENTS AND THE LEVEL OF MARKET COMPETITION: AN ANALYSIS OF WORKER INJURY RATES AT U.S. STEEL CORPORATION, 1907-1939
Jul 01, 2008; ... We investigate the relationship between accident rates and industry structure for the United States' steel industry during the first four decades of the 20th century. We develop a dominant firm theoretical model linking accident rates to number of competitors, showing a positive correlation ...
DEBT BAILOUTS AND CONSTITUTIONS
Jul 01, 2008; ... A demand-based theory of subnational debt bailouts is presented. It is shown that demand for bailouts among politicians with regional constituencies is affected by revenue sharing arrangements as a bailout implies a shift of taxation toward the federal tier. Automatic revenue sharing may lead to ...
STOCK OWNERSHIP AND CONGRESSIONAL ELECTIONS: THE POLITICAL ECONOMY OF THE MUTUAL FUND REVOLUTION
Jul 01, 2008; ... We find that higher stock ownership rates are linked to an upward shift in the Republican share of the House popular vote since the late 1980s, consistent with theories that property interests affect voting. To proxy for discontinuous stock ownership rates, we use equity mutual fund costs, which ...
2006 PRESIDENTIAL ADDRESS WATER MARKETS IN THE WEST: PRICES, TRADING, AND CONTRACTUAL FORMS
Apr 01, 2008; ... Rising urban and environmental demand for water has created growing pressure to reallocate water from traditional agricultural uses. The evolution of water markets has been more complicated than those for other resources. In this paper, we first explain these differences by examining water ...
RELIEF FOR THE ENVIRONMENT? THE IMPORTANCE OF AN INCREASINGLY UNIMPORTANT INDUSTRIAL SECTOR
Apr 01, 2008; ... Deindustrialization, stagnant real incomes of production workers, and increasing inequality are latter day features of many economies. It is common to assume that such developments pressure policymakers to relax environmental standards. However, when heavily polluting industries become less ...