Interest in the economic impacts of research and development (R&D) among forest economists is of relatively recent vintage when compared with the long history of such inquiries in agricultural economics. In contrast to the literature in agricultural economics, which can be traced to the seminal...

We use incentivized economics experiments to test both the point predictions and comparative static predictions of optimal transfer pricing models, comparing behavior under varying conditions, including wholly versus partially-owned subsidiaries and different tariff and tax rates. As predicted,...

The economic productivity of publicly funded wood preservatives research from 1950 to 1980 exemplifies public research in the forest product industries. We find a high internal rate of return for wood preservatives, nearly 300 percent. The research investments would not have been made by private...

Interest in the economic impacts of research and development (R&D) among forest economists is of relatively recent vintage when compared with the long history of such inquiries in agricultural economics. In contrast to the literature in agricultural economics, which can be traced to the seminal...

Our model describes optimal transfer prices as a function of the number of multi-divisional firms. Decentralized firms imperfectly observe downstream pricing and quantity decisions. Therefore, transfer prices have two strategic functions requiring a trade-off: limiting affiliated downstream...

The authors examine two questions that are relevant to current policy issues: (1) is there a positive response of aggregate demand to advertising? (2) what is the reaction of consumers to government health warnings and media policy? The results support the hypothesis that advertising increases...

Many economics principles textbooks mention that stocks and bonds are substitutes, and some textbook authors state that stocks are riskier than bonds. Most people seem to believe this idea. Whenever the stock market is volatile, money flows from the stock market into the safe haven of the bond...

In this paper we analyze macroeconomic effects of inflation targeting policy in New Zealand using Markov switching model with one time permanent break. Our results show that the inflation targeting policy has significantly changed the inflation dynamics in the New Zealand economy. The Markov...

In this paper we analyze macroeconomic effects of inflation targeting policy in New Zealand using Markov switching model with one time permanent break. Our results show that the inflation targeting policy has significantly changed the inflation dynamics in the New Zealand economy. The Markov...