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Atlantic
Economic Journal |
4949 West Pine Blvd.
Second Floor
St. Louis, MO 63108-1431 USA Phone: (314) 454-0100 Fax: (314) 454-9109 |
| VOLUME 32 |
SEPTEMBER
2004
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NUMBER 3
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E-Mail: iaes@iaes.org
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| Table of Contents | Submission | Manuscript Instructions | Anthology Instructions | Membership | Friends of the Society | Endowment Fund | IAES Officers | Front Page | |||
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This paper investigates the impact of outsourcing on wage
settlement in the public sector. The study characterizes the equilibrium
wage offered by the public sector union to a government bureau competing
against private sector firms. It is predicted that the union will offer
a concession wage in an attempt to block outsourcing when its members'
outside employment options are sufficiently unattractive and will offer
a non-concession wage otherwise. The study contributes to the literature
on outsourcing and wage determination in the public sector. (JEL J45,
J51, H0) ; Atlantic Econ. J., 32 (3): pp. 160-173, September 04. ŠAll
Rights Reserved
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The divorce rate in the United States has increased over
the last 40 years. This increase was accompanied both by growing female
labor force participation and rising female income. These changes were
accompanied by a significant reduction in the birth rate for married women.
This article uses time-series data and cointegration techniques to determine
the direction of causality between these variables. Analysis of the impulse
functions show that the divorce rate will increase if either female labor
force participation or income increases. Positive innovations to the divorce
rate increase the labor force participation rate of married women. Rising
levels of income lead to greater female participation in the labor market.
(JEL C5, J1, J2,) ; Atlantic Econ. J., 32 (3): pp. 174-189, September
04. ŠAll Rights Reserved
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This paper presents a model of interurban and intraurban
location that is used to consider the impact of wage taxes on housing
and labor markets in a metropolitan area. The focus of the paper is to
examine the differences in the regional impact of commuter wage taxes
(source-based wage taxes) and residents-only wage taxes (residence-based
wage taxes). The model illustrates that suburban land rent and wages can
be affected in equilibrium by central city policies and that the mix of
public goods (that is, whether they benefit households or firms) as well
as those who bear the burden of financing them has implications regarding
land values and shifts in relative population and production. Understanding
such linkages is important in the creation and analysis of regional economic
policy. (JEL H70, H73, R23, R51) ; Atlantic Econ. J., 32 (3): pp. 190-199,
September 04. ŠAll Rights Reserved
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This uncertain dictator experiment found support for partial
crowding out. Ninety-seven percent of private contributions were crowded
out when tax rates were increased from 0 to 10 percent of income. Subjects
who were uncertain whether they would be the donor or charity recipient
pledged larger contributions and had lower levels of crowding out. Crowding
out appeared asymmetric in that decreases in government contributions
did not stimulate equivalent increases in private contributions. In the
case of certainty, donors actually decreased contributions when government
contributions decreased. The donor's gender did not influence contributory
behavior. (JEL D64) ; Atlantic Econ. J., 32 (3): pp. 200-214, September
04. ŠAll Rights Reserved
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Using aggregate time series analysis, this empirical study
extends the Copeland and Laband [2002] analysis of expressive voting.
After allowing for economic considerations in the form of tax rates and
inflation, it is found that even the aggregate voter participation rate
may reflect emotional voting behavior. The Vietnam War, Watergate, public
dissatisfaction with government, and the opportunity to participate in
Presidential elections, each of which can be viewed at some level as an
issue evoking emotional responses rather than mere cost-benefit computations,
all prove to significantly affect voter participation rates.(JEL D72)
; Atlantic Econ. J., 32 (3): pp. 215-220, September 04. ŠAll Rights Reserved
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The Concept of Equilibrium: A Key Theoretical Element in Keynes' Revolution L. E. JOHNSON, ROBERT D. LEY, AND THOMAS CATE |
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This paper presents Keynes' concept of equilibrium, which was one key theoretical element that constituted the theoretical core of the General Theory and was critical in his attack on the classical model. Keynes' concept of equilibrium differed in structure, content, and purpose from that of the neoclassical orthodoxy. There were four unique features of Keynes' equilibrium and these features all reflect his overriding focus on involuntary unemployment. First, Keynes' equilibrium reflected a purposive function that differed in its maximand and normative content from his predecessors. Second, Keynes' equilibrium reflected the fact that the composition of national income determined the level of aggregate demand, which in turn determined of the equilibrium level of national income and employment. Third, his notion of equilibrium was based on use of the ex ante-ex post analysis. Finally, Keynes' equilibrium presented an alternative view of market-clearing. (JEL B00, E00) ; Atlantic Econ. J., 32 (3): pp. 221-231, September 04. ŠAll Rights Reserved |
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How Well Can Monetary Factors Explain the Exchange Rate of the Euro? MICHAEL FRENKEL AND ISABELL KOSKE |
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This paper uses different versions of the monetary approach to the exchange rate in order to investigate how well this approach can explain the nominal exchange rate of the euro vis-ŕ-vis six currencies during the recent past. It studies the period 1980-2003 and uses data on the euro for the period since the euro was launched and values for the synthetic euro for the period preceding European Monetary Union. The results of the estimation are mixed. While they suggest that a long-run relationship between the variables included in the monetary model exists for five out of six currencies, the individual countries studied seem to support different versions of the model. (JEL E52, F3, F31) ; Atlantic Econ. J., 32 (3): pp. 232-243, September 04. ŠAll Rights Reserved |
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The Corn Laws and English Wheat Prices, 1815-1846 TONY WARD |
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The British Corn Laws of the nineteenth century are the classic example of a trade barrier. This paper evaluates their importance to English society by analyzing the effects of the Corn Laws on wheat markets. Import supply elasticities are estimated for all of England's major grain supply markets, using data on prices, quantities, and freight costs from each country. A partial equilibrium trade arbitrage model is then constructed. In the absence of the Corn Laws, prices would have been 9 percent lower and consumption about 1.5 percent greater. The Corn Laws were, therefore, of great social and economic importance as England moved into the period of industrialization. (JEL N43) ; Atlantic Econ. J., 32 (3): pp. 244-254, September 04. ŠAll Rights Reserved |
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