The author critically evaluates the logic behind industrial targeting and explains why these policies fail simple cost-benefit tests.

The author critically evaluates the logic behind industrial targeting and explains why these policies fail simple cost-benefit tests.

This paper describes the likelihood and duration of nursing home admissions experienced by Americans after age 65. Our analysis generates predictions for a representative population, not for one selected to be at high risk of institutionalization, and should therefore be of direct relevance to...

Japanese antitrust law exempts a variety of vertical and horizontal restraints that are commonly regarded as anti-competitive. Measures of market structure, market power and deadweight loss in the United States and Japan, however, indicate a striking similarity in the level of "competition" in...

This paper describes the likelihood and duration of nursing home admissions experienced by Americans after age 65. Our analysis generates predictions for a representative population, not for one selected to be at high risk of institutionalization, and should therefore be of direct relevance to...

Families who heed the 'experts'' advice and save for their children's college education typically receive less financial aid. The variation in the net price of college functions as a large tax on savings. College financial aid also functions as an income tax. This paper estimates the size and...