America's adult population is economically illiterate. College economics instruction must shoulder some of the blame for this situation. Forty percent of all college graduates take an economics course. Over 95 percent of principles of economics students do not continue on to major in economics,...

Random effects estimates using panel data for 42 colleges and universities over 16 years reveal that the economics faculty size of universities offering a Ph.D. in economics is determined primarily by the long-run average number of Ph.D. degrees awarded annually; the number of full-time faculty...

Regression analysis using panel data for 42 colleges and universities over 14 years suggests that the economics faculty size of universities offering a Ph.D. in economics is determined primarily by the long-run average number of Ph.D. degrees awarded annually; the number of full-time faculty...

The elapsed time taken to earn a Ph.D. in economics is analyzed with data from 620 (of about 950) 1996-97 Ph.D.s. The median is 5.3 years. A duration model indicates that those students at several of the most highly regarded programs, those supported by no-work fellowships, and those holding a...

Data on 2,822 Vanderbilt University graduates are used to investigate alumni giving behavior during the eight years after graduation. A two stage model accounting for incidental truncation is used to first estimate the likelihood of making a contribution and second estimate the average gift size...

Accounting for the uncertainty inherent in real-time perceptions of the state of the economy is believed to be critical for the analysis of historical monetary policy. We investigate this claim through the lens of a small-scale new-Keynesian model with optimal discretionary policy and partial...

This paper presents a Generalized Method of Moments algorithm for estimating the structural parameters of a macroeconomic model subject to the restriction that the coefficients of the monetary policy rule minimize the central bank's expected loss function. The algorithm combines least-squares...

Accounting for the uncertainty in real-time perceptions of the state of the economy is believed to be critical for monetary policy analysis. We investigate this claim through the lens of a New Keynesian model with optimal discretionary policy and partial information. Structural parameters are...

Prior to the late 1990s, low unemployment was a standard feature of macroeconomic life in Hong Kong. Between 1985 and 1997, the unemployment rate averaged 2.5 percent. But the picture changed dramatically thereafter with the unemployment rate rising to 6.2 percent by 1999 and remaining above 5...