Although the Internet reduces market frictions by making it easier for consumers to obtain information about prices and product offerings, goods sold by electronic firms are not perfect substitutes for otherwise identical ...

Recent studies have found that two state-level measures of social capital, average levels of civic participation and trust, are associated with improvements in individual health status. In this study we employ these measures, ...

We show that the optimal property tax rate rises with the ratio of land rents to structure and land development costs. California's high ratio of income to property tax revenue and the distribution of Federal housing ...

Objectives. This article examines environmental policy attitudes, focusing on the differences in preferences across issue type (i.e., pollution, resource preservation) and geographical scale (i.e., local, national, global). ...

This paper uses quarterly data on AFDC (later TANF) recipients in five major urban areas to examine the relative importance of policy reform and economic conditions in explaining the dynamics of the welfare caseload and the employment experiences...

Scholars have long argued that state legislative professionalism, or the provision of staff, legislator salary, and session length, has behavioral incentives for legislators and implications for legislative capacity. Scant ...

The decline of political efficacy and trust in the United States is often linked to the rise of money in politics. Both the courts and reform advocates justify restrictions on campaign donations and spending as necessary ...

Scholars have proposed many routes by which campaign finance laws may impact turnout. For instance, laws restricting campaign spending may decrease mobilization, resulting in lower turnout. Alternatively, such laws might ...

Plenty. This paper analyzes two broad questions: Does your first name matter? And how did you get your first name anyway? Using data from the National Opinion Research Center's (NORC's) General Social Survey, including access to respondent's first...

in the same estate. We find that the price-to-rent ratios tend to be higher for low-end properties. We discuss economic explanations for the phenomenon and the policy implications....

recidivism comparing cohorts of leavers prior to and after welfare reform. We find that after welfare reform leavers are much more likely to be working, have higher total earnings, work for employers with similar characteristics, and are less likely to return...

This paper reviews issues that lie at the intersection between intellectual property rights (IPR) and network effects, especially in the context of the global economy. Some of the relevant questions are: (1) How do IPR influence the provision...

This paper investigates the statistical properties of estimators of the parameters and unobserved series for state space models with integrated time series. In particular, we derive the full asymptotic results for maximum likelihood estimation using...

Traditional models of bank runs do not allow for herding effects, because in these models withdrawal decisions are assumed to be made simultaneously. I extend the banking model to allow a depositor to choose his withdrawal ...

We use administrative data from Missouri to examine the sensitivity of earnings impact estimates for a job training program based on alternative nonexperimental methods. We consider regression adjustment, Mahalanobis ...

A sudden change in investment environment shifts objective uncertainty (characterized by parameters that determine the distribution of returns) and at the same time heightens subjective uncertainty (about the data generating ...

The monthly salaries and allowances of Korean government employees are known in advance but vary greatly throughout the year. Using a large Korean monthly panel data set from 1994 to 2003, we examine how nondurable consumption ...

We propose a Bayesian stochastic search approach to selecting restrictions on multivariate regression models where the errors exhibit deterministic or stochastic conditional volatilities. We develop a Markov Chain Monte ...

reform. We find that after welfare reform leavers are much more likely to be working. Although in Maryland those working have earnings that are somewhat below employed leavers prior to reform, in Missouri earnings for employed leavers are unchanged...

This paper clarifies and extends previous work on the equivalence between monetary regimes and fiscal regimes involving social security systems. We consider equivalence across regimes, showing that monetary regimes are equivalent to one or both...