Contemporary Economic Policy articles from April 1994

Contemporary Economic Policy archives from April 1994

Economics and organizational innovation.
April 1, 1994... design seems to be spontaneously occurring in Russia. But far and away the most important core investors have been the people who have made a lot of money during the last two or three years, mostly in trading, in export and import business, in...

Searching for a monetary policy target.
April 1, 1994... Jordan: I am not sure that the issue here should be "searching for a monetary aggregate or monetary target," but rather, "searching for an objective for monetary policy." Almost three decades ago, Karl Brunner hosted at UCLA two conferences...

Inflation stabilization and nominal anchors.
April 1, 1994... I. INTRODUCTION Since the late 1940s, many developing countries have suffered from chronic inflation. Chronic inflation is characterized by high inflation relative to industrial countries and by persistent inflation (Pazos, 1972). Unlike...

College major choice and changes in the gender wage gap.
April 1, 1994... I. INTRODUCTION The gender wage gap narrowed markedly during the 1980s after remaining stagnant for the previous two decades. Studies analyzing Current Population Survey data show that over this time span the average wage of women relative to...

Do parental involvement laws reduce adolescent abortion rates?
April 1, 1994... I. INTRODUCTION The U.S. abortion rate per 1,000 females age 15-17 rose from 24.2 in 1976 to 30.3 in 1988, a 25 percent increase (Henshaw and Van Vort, 1992). In contrast, during this period the abortion rate for women aged 20-44 increased...

Open access and the emergence of a competitive natural gas market.
April 1, 1994... I. INTRODUCTION For more than 40 years, natural gas pipelines were regulated as natural monopolies. Federal regulations (i) authorized a single pipeline to link a city market with a producing area, (ii) limited entry, (iii) controlled...

Photovoltaic technology and markets.
April 1, 1994... I. INTRODUCTION No form of "alternative" or renewable energy has received more attention than photovoltaics. Literally billions of dollars have been spent researching materials and processes that directly convert sunlight to electricity. The...

Water subsidies, water transfers, and economic efficiency.
April 1, 1994... I. INTRODUCTION Why does inefficiency pervade water use in the western United States? Two reasons have received much attention in recent years: (i) Price distortions--that is, prices not reflecting social marginal cost--are ubiquitous. This in...

Why did economic models falsely predict a Bush landslide in 1992?
April 1, 1994... I. INTRODUCTION On July 27, 1992, Robert Samuelson wrote: Fair's formula anticipates a Bush landslide by 56 to 44 percent. Even if the economy doesn't grow at all, Bush's margin is 54 to 46. Economic models now familiar to most economists...