Atlantic Economic Journal articles from March 1990

Atlantic Economic Journal archives from March 1990

The impact of external shocks on the current account.
March 1, 1990... The purpose of this presentation is to provide new estimates on the role of external factors in the deterioration of the current account in developing countries since the first oil shock in 1973. These estimates apply to five separate African...

Do high profits imply low wages?
March 1, 1990... I. Introduction An abundance of evidence has been presented over the years in support of the proposition that wages vary inversely with employer monopsony (oligopsony) power in labor markets [Landon, 1970; Landon and Baird, 1971; Hurd,...

Business climate and measured poverty: the evidence across states.
March 1, 1990... I. introduction The debate on poverty policy has thus far placed great emphasis on labor supply. Critics of current poverty policy [Murray, 1982; Gallaway, Vedder, and Foster, 1985] argue that various poverty-relief programs have actually...

The Federal Reserve: Lender of Last Resort.
March 1, 1990... I. Introduction The Federal Reserve: Lender of Last Resort, by Gillian Garcia and Elizabeth Plautz, represents an ambitious exploration of the meaning of, criteria for evaluation of, and experience with the Federal Reserve System's role as...

Making America Poorer: the Cost of Labor Law.
March 1, 1990... When Richard B. Freeman and James L. Medoff published What Do Unions Do, they shed some new light on an old question. What is the net effect of unions? Most economists have viewed unions as monopolies, and numerous quantitative studies...

Essays in Memory of Tullio Bagiotti.
March 1, 1990... This volume is a collection of essays by an outstanding group of economists, in memory of Tullio Bagiotti. The essays were originally published separately in special issues of Rivista Internazionale di Scienze Economiche e Commerciali. They...

Uncertainty and profitability.
March 1, 1990... This paper examines the effect of uncertainty on the long-run profitability requirement o a competitive firm. It offers theoretical support to the widely-held view that expected profits serve as compensation for risk-taking. Consider a...

Estimates of the black market in cement in India, 1961-82.
March 1, 1990... The Indian cement industry was characterized by a regime of comprehensive price and quantity controls over the 1961-82 period. The country suffered from a chronic cement shortage throughout this period, except for 1966 and 1967 (decontrol...

Testing for shifts in variability.
March 1, 1990... It is often useful to determine whether a shift has occurred in the variability of some factor following a known or suspected change in market conditions or policy. For example, option traders find such information crucial to pricing and...

A new look at the Federal Reserve reaction function.
March 1, 1990... To what macroeconomic variables does the Federal Reserve react, and with what operating instruments? Me authors collected approximately nine years worth of weekly data over a turbulent period in the history of Fed policy practices to answer...

Linder's trade thesis: some further evidence.
March 1, 1990... Linder's hypothesis has generally been tested using cross-country data. Such studies, however, are flawed either by the exclusion of a distance variable or by its inclusion since distance tends to be highly correlated with the similarity of...

Gender earnings differentials in LDCs: the case of Pakistan. (less developed countries)
March 1, 1990... Much attention has focused in recent years on the status of women in Third World countries. Evidence suggests that significant levels of discrimination against females exist in Third World countries. This study, funded by a Vincent Coffin...

Federal funding of public schools: de facto affirmative action?
March 1, 1990... The Federal government has at its disposal numerous methods of implementing programs which favor one group over another. A prime possibility is that Federal funding for education can be used as a defacto affirmative action program to redress...

Soak the rich arithmetic.
March 1, 1990... If a soak-the-rich scheme would be infeasible without incentive problems, then it would be infeasible with incentive problems; but, the converse is not true. The purpose of this brief note is to address the feasibility issue. In the absence of...

Geographic after-tax real income differentials and population growth rates.
March 1, 1990... The purpose of this brief note is to empirically investigate the impact of geographic after-tax real income differentials on geographic population growth rate differentials. The focus is on population growth rates in Florida's 67 counties over...