Quarterly Journal of Economics articles from November 1995

Quarterly Journal of Economics archives from November 1995

Globalization and the inequality of nations.
November 1, 1995... In recent years there has been growing concern among many observers in the advanced nations over the impact of globalization on their ability to sustain high living standards. As growth has surged in developing countries such as China, these...

Expansion of markets and the geographic distribution of economic activities: the trends in U.S. regional manufacturing structure, 1860-1987.
November 1, 1995... I. INTRODUCTION The phenomenon of regional specialization has generated considerable interest among economists, geographers, and historians. Ever since Adam Smith's Wealth of Nations was published in 1776, regional specialization has been...

The Medicaid notch, labor supply, and welfare participation: evidence from eligibility expansions.
November 1, 1995... I. INTRODUCTION The United States welfare system for single-parent families with children offers four main benefits: cash assistance through Aid to Families with Dependent Children (AFDC), health insurance coverage through Medicaid, food...

Finishing high school and starting college: do Catholic schools make a difference?
November 1, 1995... I. INTRODUCTION More than ten years ago, James Coleman and his colleagues launched a national debate over the relative quality of public and Catholic schools [Coleman and Hoffer 1987; Coleman, Hoffer, and Kilgore 1982]. Based on their analysis...

Some empirical evidence on the effects of shocks to monetary policy on exchange rates.
November 1, 1995... I. INTRODUCTION This paper investigates the effects of shocks to U. S. monetary policy on exchange rates. In sharp contrast to the literature we find substantial evidence of a link between monetary policy and exchange rates. Specifically,...

Financial systems in Northern Thai villages.
November 1, 1995... I. INTRODUCTION Field research attempted to measure the key features of the environments and the outcomes of ten poor, high-risk villages in northern Thailand. Various key features of the risky environments, the information structures, the...

What determines the value of corporate votes?
November 1, 1995... A growing literature emphasizes that corporate shareholders do not receive benefits in proportion to their fractional ownership, but that holders of large blocks of shares receive a disproportionate amount of corporate benefits (so-called private...

Foreign competition, market power, and wage inequality.
November 1, 1995... A great deal of recent research in labor economics attempts to document and analyze the huge increase in wage inequality that occurred in the 1980s. The basic facts, documented in Bluestone and Harrison [1988], Katz and Murphy [1992], Levy and...

How do we know that real wages are too high?
November 1, 1995... INTRODUCTION It is a common view among economists that there are forces which prevent the real wages that we observe from moving to clear the labor market. A huge amount of effort has been devoted to answering the question, "when there is a...

Growth empirics: a panel data approach.
November 1, 1995... I. INTRODUCTION In recent years there has been considerable empirical work on cross-country growth. A close two-way relationship has been observed between this work and the corresponding developments in the theory of growth, in particular, the...