Quarterly Journal of Economics articles from November 1999

Quarterly Journal of Economics archives from November 1999

CHANGING INEQUALITY IN MARKETS FOR WORKPLACE AMENITIES [*].(Statistical Data Included)
November 1, 1999... Among U. S. industries where earnings rose relatively from 1979-1995, injury rates declined relatively. Obversely, during the 1960s narrowing interindustry wage differentials were associated with an increase in the relative risk of injury in...

RAMSEY MEETS LAIBSON IN THE NEOCLASSICAL GROWTH MODEL [*].(Statistical Data Included)
November 1, 1999... The neoclassical growth model is modified to include a variable rate of time preference. With no commitment ability and log utility, the equilibrium features a constant effective rate of time preference and is observationally equivalent to the...

WHEN DOES PRIVATIZATION WORK? THE IMPACT OF PRIVATE OWNERSHIP ON CORPORATE PERFORMANCE IN THE TRANSITION ECONOMIES [*].
November 1, 1999... This paper compares the performance of privatized and state firms in the transition economies of Central Europe, while controlling for various forms of selection bias. It argues that privatization has different effects depending on the types of...

THE BENEFITS OF PRIVATIZATION: EVIDENCE FROM MEXICO [*].
November 1, 1999... Critics of privatization argue that the increased profitability of privatized companies comes at the expense of society. Using data from 97 percent of those nonfinancial firms privatized in Mexico during the period 1983-1991, we study two...

PUBLIC GOODS AND ETHNIC DIVISIONS [*].(Statistical Data Included)
November 1, 1999... We present a model that links heterogeneity of preferences across ethnic groups in a city to the amount and type of public goods the city supplies. We test the implications of the model with three related data sets: U. S. cities, U. S....

INTERFIRM RELATIONSHIPS AND INFORMAL CREDIT IN VIETNAM [*].(Statistical Data Included)
November 1, 1999... Trading relations in Vietnam's emerging private sector are shaped by two market frictions: the difficulty of locating trading partners and the absence of legal enforcement of contracts. Examining relational contracting, we find that a firm...

A THEORY OF WAGE AND PROMOTION DYNAMICS INSIDE FIRMS [*].
November 1, 1999... We show that a framework that integrates job assignment, human-capital acquisition, and learning captures several empirical findings concerning wage and promotion dynamics inside firms, including the following. First, real-wage decreases are...

DUALISM AND MACROECONOMIC VOLATILITY [*].
November 1, 1999... This paper develops a simple macroeconomic model that shows that combining capital market imperfections together with unequal access to investment opportunities across individuals can generate endogenous and permanent fluctuations in aggregate...

FISCAL POLICY IN GOOD TIMES AND BAD [*].(Statistical Data Included)
November 1, 1999... In the 1980s several countries with large government debt or deficit implemented substantial, and in some cases drastic, deficit cuts. Contrary to widespread expectations, in many cases private consumption boomed rather than contracted. This...

WHAT DRIVES DEREGULATION? ECONOMICS AND POLITICS OF THE RELAXATION OF BANK BRANCHING RESTRICTIONS [*].
November 1, 1999... This paper investigates private-interest, public-interest, and political-institutional theories of regulatory change to analyze state-level deregulation of bank branching restrictions. Using a hazard model, we find that interest group factors...