American Economist articles from September 2004

American Economist archives from September 2004

Micro data, heterogeneity and the evaluation of public policy.
September 22, 2004... On behalf of all economists who analyze microeconomic data and who use microeconometrics to unite theory and evidence and to evaluate policy interventions of all kinds, I accept the Bank of Sweden Prize in Economic Sciences in Memory of Alfred...

A roundabout approach to macroeconomics: some autobiographical reflections.
September 22, 2004... I. Introduction: Setting the Stage "Roundaboutness" is a concept featured in Austrian capital theory. Homely stories about the barehanded catching of fish are a prelude to a discussion of the economy's capital structure. The outputs of...

The relation between student attitudes toward graphs and performance in economics.
September 22, 2004... Introduction In a recent study (Cohn et al., 2001), we reported results from two experiments suggesting that graphs may not contribute to short-term performance in principles of economics. Hansen, Salemi and Siegfried (2002, 467) rely on...

Personal financial planning: origins, developments and a plan for future direction.
September 22, 2004... Introduction Personal financial planning (PFP) has grown rapidly over the past quarter century. During that time, it has established itself as the financially related discipline that is most useful to the average American. Yet the academic...

A non-singular peaked Laffer curve: debunking the traditional Laffer curve.
September 22, 2004... Introduction On a cool autumn evening in Washington in 1974, Art Laffer, 35, had one of those moments that end up defining someone for the rest of his life. Gerald Ford's chief of staff, Don Rumsfeld, and his deputy, Dick Cheney, things...

The monthly effect in stock returns and conditional heteroscedasticity.
September 22, 2004... I. Introduction Various seasonal anomalies in stock returns have been researched since Rozeff and Kinney (1976) originally presented the January effect. (1) For example, French (1980) documented the weekend (or Monday) effect, (2) and...

Prison labor effects on the unskilled labor market.
September 22, 2004... I. Introduction The prison population has increased nearly five-fold since 1970--over eight percent per year--from 2 in 1,000 adults in 1970 to 9 in 1,000 adults in 1998. This has led to an escalating tax burden and a significant...

Workers' remittances, remittance decay and financial deepening in developing countries.
September 22, 2004... I. Introduction Evidence suggests that remittance transfers between migrant workers and their relatives in the migrant's home country have been utilized for both consumption and investment goods. In this regard, Russell (1992) and Lipton...

Why Smart Executives Fail: And What You Can Learn from Their Mistakes.(Book Review)
September 22, 2004... Why Smart Executives Fail--and What You Can Learn from Their Mistakes, by Sydney Finkelstein, New York: Penguin, 2003 CEOs on the Hot Seat: Failure and Redemption in Organizations The chief executive is famous and the company stock has...