It is common knowledge that oil discovered today, or that is newly allowed to be developed, such as in the Alaskan National Wildlife Refuge (ANWR), has no effect on prices until that oil hits the market. However, economic theory does not support common knowledge on this issue. When the future...

The Effect of Opening up ANWR to Drilling on the Current Price of Oil R. Morris Coats and Gary M. Pecquet

vThe Confederacy relied heavily on inflationary finance. Of the states of the Confederacy, only Texas was able throughout the war to enforce mandatory tax payments. In November 1864, Texas enacted fiscal measures designed to support the value of its state-issued currency, while it was increasing...

It is common knowledge that oil discovered today, or that is newly allowed to be developed, has no effect on prices until reaching the market. However, economic theory does not support common knowledge on this issue. By lowering the value of holding oil for future sale, a future oil supply...

Alchian and Allen's "Third Law of Demand" (1967) states that as a fixed cost increases by the same amount for low - and high-quality goods, the ratio of the prices of high - to low-quality goods will fall and the quantity demanded of high quality goods relative to low quality goods will...

Rothenberg and Sanders (2000a) find little support for a Downsian theory of voter participation in the (104th) U.S. House of Representatives. Vote abstentions are common in legislative bodies. In the 2nd session of the 110th United States Senate, for example, the abstention rate was...

Throughout 2015, many of FIFA’s (Fédération Internationale de Football Association) top executives were arrested, facing charges of bribery, fraud, and money laundering. On December 21, 2015, FIFA’s own Ethics Committee decided to ban its long-serving president, Joseph “Sepp” Blatter,...

Cross-section, time-series data (for the 48 contiguous U.S. states and the District of Columbia, 1964-86) are analyzed to determine the sales response to cigarette taxes. Finds that 80 percent of the sales response to state cigarette taxes is attributable to cross-border sales.

A growing trend in demand analysis during the last two decades is the use of household survey data. Detailed demographic information collected in these surveys allows treatment of heterogeneous preference and the typically large sample also allows estimation of large demand system that are...