Contemporary Economic Policy articles from January 2004

Contemporary Economic Policy archives from January 2004

The endogeneity of the optimum currency area criteria, intra-industry trade, and EMU enlargement.
January 1, 2004... 1. INTRODUCTION Countries participating in a currency area face benefits and costs of the common currency. The benefits are directly related to transaction costs in countries' bilateral trade. Therefore, countries with intensive trade...

Spillovers from Taiwan, Hong Kong, and Macau investment and from other foreign investment in Chinese industries.
January 1, 2004... I. INTRODUCTION Since mainland China opened its doors to outside investment in 1979, strenuous efforts have been made to attract foreign investment, resulting in a significant increase in foreign direct investment (FDI) in China. (1) This...

National Health Insurance and technology adoption: evidence from Taiwan.
January 1, 2004... I. INTRODUCTION Persistent growth of health-care expenditures, extensive use of third-party payment mechanisms, and rapid technological progress have been prominent features of the medical-care sector over recent decades (Weisbrod, 1991)....

The interplay of wage and exchange rate policies in Singapore: a case of collective bargaining in macroeconomic management.
January 1, 2004... 1. INTRODUCTION Adverse supply shocks often pose a dilemma for the Keynesian approach to aggregate demand management: Implementing expansionary monetary and fiscal policies tends to exacerbate inflation, whereas the laissez-faire policy...

Oil prices, terms of trade shocks, and macroeconomic fluctuations in Saudi Arabia.
January 1, 2004... 1. INTRODUCTION Oil prices occupy a central role in explaining the business cycle, particularly since the 1973 oil price shock. Hamilton (1983), Gisser and Goodwin (1986), and Ferderer (1996), among others, document recessions,...

Will open supply lower retail gasoline prices?
January 1, 2004... I. INTRODUCTION When a lessee-dealer enters into a contract to lease a retail gasoline station from a refiner, the dealer simultaneously agrees to purchase all gasoline supplies from the same refiner. (1) One of the most interesting...

New evidence on gay and lesbian household incomes.
January 1, 2004... 1. INTRODUCTION Recent research on the relative economic status of gay men and lesbians has used individuals in same-sex unmarried partner (SSUP) households in the 1990 Decennial Census to identify a sample of gay and lesbian couples...

Tenure choice with location selection: the case of Hispanic neighborhoods in Chicago.
January 1, 2004... 1. INTRODUCTION The tendency for immigrant groups to locate where other coethnic groups have already settled (in ethnic enclaves) is a common process resulting from the need (or preference) to reunite with family members and other coethnic...

Employment protections for older workers: do disability discrimination laws matter?
January 1, 2004... 1. INTRODUCTION The Age Discrimination in Employment Act (ADEA) was enacted in 1967 with the primary goals "to promote the employment of older persons based on their ability rather than age; to prohibit arbitrary age discrimination in...

School finance litigation, tax and expenditure limitations, and education spending.
January 1, 2004... I. INTRODUCTION Over the past 30 years, two major changes in state legal environments have had important consequences for the financing of public education. Since 1971, a majority of states have experienced legal challenges to their...