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Social and Behavioral Sciences Commons

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1997

Economics

Series

Discipline
Institution
Publication

Articles 1 - 15 of 15

Full-Text Articles in Social and Behavioral Sciences

Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part Two), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell Oct 1997

Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part Two), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell

Faculty Publications

No abstract provided.


Monetary Policy Preferences Of Individual Fomc Members: A Content Analysis Of The Memoranda Of Discussion, Henry W. Chappell Jr., Thomas M. Havrilesky, Rob Roy Mcgregor Aug 1997

Monetary Policy Preferences Of Individual Fomc Members: A Content Analysis Of The Memoranda Of Discussion, Henry W. Chappell Jr., Thomas M. Havrilesky, Rob Roy Mcgregor

Faculty Publications

The Memoranda of Discussion provide detailed records of Federal Open Market Committee (FOMC) meeting deliberations. Procedures are developed for coding the textual data in the Memoranda and assessing the reliability of those codings. The codings are then used in the estimation of parameters of individual FOMC members' reaction functions. Data from the 1970 to 1976 period are employed in the estimation. In the future, similar methods could be used to analyze newly released transcripts of FOMC meetings held after 1976.


A Study Of The Stochastic Behavior Of Durable Goods Consumption, Alexander Lebedinsky Aug 1997

A Study Of The Stochastic Behavior Of Durable Goods Consumption, Alexander Lebedinsky

Masters Theses & Specialist Projects

The author of this thesis examines the stochastic behavior of durables consumption in the rational expectations/permanent income hypothesis framework. The testing in this paper parallels the studies conducted by other researchers, who basing their work mainly on quarterly data rejected the frictionless rational expectations/permanent income hypothesis. The distinctive feature of this thesis is that the models are examined using monthly instead of quarterly data. The results of the estimation are compared to the results based on quarterly data. The results show that estimates obtained using monthly data seem to be more consistent with the frictionless rational expectations/permanent ...


Restructuring Of The Electric Utility Industry: Free Markets And Environmental Protection, Rick Gilliam Jun 1997

Restructuring Of The Electric Utility Industry: Free Markets And Environmental Protection, Rick Gilliam

Dams: Water and Power in the New West (Summer Conference, June 2-4)

12 pages.

Contains 1 page of references.


Adam Smith On The Virtues: A Partial Resolution Of The Adam Smith Problem, Spencer J. Pack Mar 1997

Adam Smith On The Virtues: A Partial Resolution Of The Adam Smith Problem, Spencer J. Pack

Economics Faculty Publications

Adam Smith's definition of justice as a moral virtue based on the "passion" of resentment in 'The Theory of Moral Sentiments' (1759), despite seeming contradictions, supports his analysis of an acquisitive, commercial society in 'The Wealth of Nations' (1774) partly by precluding the concept of a just price.


Nondisclosure As A Contract Remedy: Explaining The Advance-Notice Puzzle, John T. Addison, John B. Chilton Jan 1997

Nondisclosure As A Contract Remedy: Explaining The Advance-Notice Puzzle, John T. Addison, John B. Chilton

Faculty Publications

Prior theoretical work predicts an underprovision of advance-notice contracts stemming from their enforcement costs. In the present model, it is rather the fundamental inability of workers to alienate their right to quit taken in conjunction with parameters central to job separation decisions that jointly determine the mix of notice and no-notice contracts observed in equilibrium. Not all equilibrium contracts are efficient, but there is no underprovision of notice. Mandating notice cannot improve on joint value and indeed may reduce it. Furthermore, although a mandate can be merely redistributive, there are cases in which it harms all parties.


Dividends, Noncontractibility, And Corporate Law, William W. Bratton Jan 1997

Dividends, Noncontractibility, And Corporate Law, William W. Bratton

Faculty Scholarship at Penn Law

No abstract provided.


Gatt, Dispute Settlement And Cooperation: A Reply, Dan Kovenock, Marie Thursby Jan 1997

Gatt, Dispute Settlement And Cooperation: A Reply, Dan Kovenock, Marie Thursby

Economics Faculty Articles and Research

In our 1992 paper, we analyzed GATT and its dispute settlement procedure (DSP) in the context of a supergame model of international trade featuring both explicit (GATT) and implicit (non-GATT) agreements. Our paper departed from the previous economics literature on GATT enforcement (see, for instance Hungerford (1991) and Ludema (1990)) by incorporating the ``twin engines of international obligation and retaliation'' (Hudec, 1990). International obligation imposed a cost of violating an explicit international agreement, such as GATT, while retaliation could take place either within the rules stipulated by the international agreement or by punishment outside of the agreement. In Section 2 ...


Economics And Sociology: The Prospects For An Interdisciplinary Discourse Of Law, Kenneth G. Dau-Schmidt Jan 1997

Economics And Sociology: The Prospects For An Interdisciplinary Discourse Of Law, Kenneth G. Dau-Schmidt

Articles by Maurer Faculty

My purposes in this essay are two-fold. First, I provide some background on the disciplines of economics and sociology as a basis for the discussion at this Symposium and for my own discussion of the potential for an interdisciplinary discourse on law. In this regard, in the first section of the essay I provide a brief history of the relationship between the two disciplines, a brief outline of the basic characteristics of each disciplinary perspective, and a brief discussion of the emerging opportunities for useful exchange between the two disciplines. Second, I examine the prospects that the economic analysis of ...


Transracial Adoption (Tra): Old Prejudices And Discrimination Float Under A New Halo, Ruth-Arlene W. Howe Jan 1997

Transracial Adoption (Tra): Old Prejudices And Discrimination Float Under A New Halo, Ruth-Arlene W. Howe

Boston College Law School Faculty Papers

The primary aim of this article is to place the late twentieth century Transracial Adoption (TRA) of African-American children accurately within the context of the child welfare system milieu out of which it emerged. It also endeavors to provide thoughtful scholars and child advocates a new lens with which to assess the past purpose, function, and efficacy of TRA. The author hopes that through these considerations more careful regulation and monitoring of future TRA placements will emerge, which will both protect the interests of the African-American adoptee and respect the African-American community.


Nest Eggs And Stormy Weather: Law, Culture, And Black Women's Lack Of Wealth, Regina Austin Jan 1997

Nest Eggs And Stormy Weather: Law, Culture, And Black Women's Lack Of Wealth, Regina Austin

Faculty Scholarship at Penn Law

No abstract provided.


Political, Economic And Social Dominance Of Major Cities In East Asia During The Twentieth Century, Michael B. Toney, Chalon Keller Jan 1997

Political, Economic And Social Dominance Of Major Cities In East Asia During The Twentieth Century, Michael B. Toney, Chalon Keller

Sociology, Social Work and Anthropology Faculty Publications

One of the greatest shift in human societies has been the change from dispersed settlement patterns toward a complex urban pattern. Prior to the industrialization there were only a few urban places scattered throughout the world and none could compare with numerous cities of today with respect to size and complexity. In recent decades the growth of cities in Asia has been particularly remarkable as there has been an increase in the number of medium sized cities and the growth of a number of mega cities. This urbanization of the worlds population has corresponded with other fundamental changes in human ...


Price Theory And Vertical Restraints: A Misunderstood Relation, Alan J. Meese Jan 1997

Price Theory And Vertical Restraints: A Misunderstood Relation, Alan J. Meese

Faculty Publications

The Chicago School of antitrust analysis has exerted a strong influence over the law of vertical restraints in the past two decades, leading the Supreme Court to abandon much of its traditional hostility toward such agreements. Chicago's success has provoked a vigorous response from Populists, who support the traditional approach. Chicago, Populists claim, has improperly relied upon neoclassical price theory to inform the normative and descriptive assumptions that drive its analysis of trade restraints generally and of vertical restraints in particular. This reliance is misplaced, Populists assert, because the real world departs from that portrayed by price-theoretic models and ...


Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part One), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell Jan 1997

Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part One), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell

Faculty Publications

No abstract provided.


The Misuse Of Tax Incentives To Align Management-Shareholder Interests, James R. Repetti Jan 1997

The Misuse Of Tax Incentives To Align Management-Shareholder Interests, James R. Repetti

Boston College Law School Faculty Papers

The U.S. tax system contains many provisions which are intended to align management of large publicly traded companies more closely to stockholders. This article shows that many of the tax provisions that have been adopted are of questionable effectiveness because they fail to address the complexities of stockholder-management relations in attempting to motivate management to act in the best interests of stockholders. The article proposes that rather than Congress attempting to identify the best way that it can use the tax system to motivate management, Congress should eliminate tax provisions which subsidize management's inefficiencies in order to encourage ...