Quarterly Journal of Business and Economics articles from January 1995

Quarterly Journal of Business and Economics archives from January 1995

International capital inflows, federal budget deficits, and interest rates, 1971-1984.
January 1, 1995... INTRODUCTION The impact of federal budget deficits on the rate of interest has been studied extensively.(1) Most of these studies focus on the short-term rate of interest, especially the three month U.S. Treasury bill rate or the four to six...

Defense, nondefense expenditures, and inflation: an empirical analysis.
January 1, 1995... INTRODUCTION There is controversy surrounding the relationship between defense spending and inflation. The empirical analyses of Vitaliano (1984), Nourzad (1987), and Payne (1990) provide conflicting evidence about the impact of defense...

On the revenue-expenditure nexus: evidence from local school districts.
January 1, 1995... INTRODUCTION This paper examines the linkage between spending and taxing decisions for local education. The paper addresses the following questions: * Do changes in local school district spending and state grants for education precede...

Exchange rates and the inflation rate.
January 1, 1995... INTRODUCTION A reading of the financial press suggests a belief that the underlying inflation rate is related significantly to the movement in the foreign exchange value of the dollar. (See Boyd, 1989; Passell, 1989; and Uchtelle, 1989a,...

Middle managers in banking: an investigation of gender differences in behavior, demographics, and productivity.
January 1, 1995... INTRODUCTION The persistence of the gender wage gap has been well-documented and widely discussed in both the academic literature and the popular media. Despite equal pay legislation and the increasing number of women in managerial positions,...

Further evidence on the relationship between bankruptcy costs and firm size.
January 1, 1995... INTRODUCTION Warner's (1977) well-known study of bankrupt railroads reveals that direct costs of bankruptcy are small relative to firm size and that bankruptcy costs exhibit scale economies; i.e., proportional costs decrease in firm size....

Treasury bill rates as proxies for expected inflation.
January 1, 1995... INTRODUCTION The Treasury bill rate commonly is used as a proxy for expected inflation in empirical studies. Yet the conditions required for a high correlation between expected inflation and Treasury bill rates may not hold for all periods....