Atlantic Economic Journal articles from September 1992

Atlantic Economic Journal archives from September 1992

European economic integration.
September 1, 1992... I. Introduction The political process leading to a European Economic and Monetary Union (EMU) is still under way although signs of hesitation have recently emerged. Ten European states signed the Maastricht Treaty that endorsed the...

Economic status of France: past, present, and future.
September 1, 1992... I. Introduction The purpose of this address is to give some insight into the evolution and performances of the French productive system over the years. A few preliminary remarks have to be made. While it is true that, as indicated in...

Macroeconomic adjustment and inconvertible currencies in the Third World.
September 1, 1992... In 1987, Zimbabwe experienced serious difficulties in expanding mineral production, notably gold, due to a shortage of foreign exchange for the importation of spare parts and mining equipment ["Zimbabwe Survey," 1987]. Since gold can easily be...

Parametric change in the U.S. trade in manufactured goods.
September 1, 1992... I. Introduction Stability in an economic relationship over time is crucial if the economic model embodying the relationship is to be useful. In the field of international economics, economists have shown substantial amount of interest...

Human capital formation in professional sports: evidence from the PGA tour. (Professional Golfers' Association)
September 1, 1992... I. Introduction Successful examinations of production relationships and labor market institutions have been made using statistics from a number of sports. With respect to production relationships, Zech [1981] estimates a production...

A pedagogical note on the marginal revenue product curve. (Anthology)
September 1, 1992... The concept of the marginal revenue product (MRP) is frequently focused upon in chapters on factor input markets of microeconomic textbooks. In a competitive output market, the additional monetary contribution of a variable input is also...

Lawyers and income growth: cross-section evidence. (Anthology)
September 1, 1992... Few issues generate more response than the proliferation of lawyers. Abel ["The Transformation of the American Legal Profession," Law and Society, 1986] reports that the number of lawyers "more than doubled between 1950 and 1980 and seems...

On returns to scale of the aggregate production function. (Anthology)
September 1, 1992... In a number of recent studies and economic textbooks [Boskin, JEP, 1988; Jorgenson, "Productivity and Economic Growth," Harvard Institute of Economic Research, 1986; Griliches, "Returns to Research and Development Expenditures in the Private...

The misery index and an index of misery. (Anthology)
September 1, 1992... Golden, Orescovich, and Ostafin [American Economist, 1987, 31, p. 72] discussed the misery index (or the discomfort index) commonly used to describe the sum of the inflation and unemployment rates. In their note, they used the principle of...

Aggregation of multiperiod index numbers. (Anthology)
September 1, 1992... Suppose several commodities have been classified in three groups, food (f), clothing (c), and the aggregate (a) of food and clothing together. A time series of T observations on the individual prices and quantities is available. Let exp (vfrt)...

Europe 1992: implications for the U.S. financial system. (Anthology)
September 1, 1992... Europe 1992 will be unified and reinvigorated when the 12 member nations of the European Community (Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, and the United Kingdom) remove all barriers...

Moral hazard and pension insurance in the U.S. (Anthology)
September 1, 1992... Recent bank and thrift failures have meant record deposit insurance payments from the Federal Deposit Insurance Corporation and the Federal Savings and Loan Insurance Corporation, placing a large burden on American taxpayers. These federal...

A competitive version of the transfer paradox. (Anthology)
September 1, 1992... The two main versions of the so-called transfer paradox for a three agent, two commodity economy, as analyzed by Bhagwati, Brecher, and Hatta [AER, 1983], Chichilnisky [Journal of Development Economics, 1983], Geanakoplos and Heal [Journal of...

Where do the regulators come from? (Anthology)
September 1, 1992... Regulations economists are familiar with the much cited work by Stigler and Friedland, "What Can Regulators Regulate? The Case of Electricity" [Journal of law and Economics, 1962] as well as the work by Demsetz, "Why Regulate Utilities?'...

Pricing inefficiencies in the football-betting market. (Anthology)
September 1, 1992... Since Pankoff [Journal of Business, 1968], investment writers have recognized that bets on the outcome of football games provide an unusually direct test of pricing efficiency by market consensus. In a football context, prices are proxied by...

Constrained division of labor in households. (Anthology)
September 1, 1992... Applying the law of comparative advantage, the household production model of labor supply argues that it is efficient to allocate time of different members of a household between market work and home production according to their comparative...

Hedonic wage studies and the value of a life. (Anthology)
September 1, 1992... Recently, there has been an increased use of economists' value-of-life estimates in wrongful death or injury litigation. Theoretically, two techniques can be used to estimate the value of a statistical life. The willingness-to-pay approach...