For the steel import quota bill of 1999, each word in the Congressional Record costs $39 in campaign contributions from the steel industry. Consequently, our answer is "Yes, talk is cheap!"

We consider an economy with a tax on all labor earnings. We discover that a slightly binding minimum wage on one sector can enhance efficiency. The minimum wage attracts high-reservation wage workers into the minimum-wage sector. If the labor demand curve in the free sector is quite flat, the...

In addition to legal constraints and social-psychological barriers, in a post-conflict setting mutually beneficial economic transactions might not occur due to the widening gap between the health, quality, and environmental standards of the parties. A lack of incentives during the years of...

In studying the Great Depression, Galbraith asserts that the higher the transitory income the higher the corruption. For a panel of 39 countries over 13 years, 1995-2007, Galbraith's claim holds. Regression analyses also confirm that the higher the permanent income, the lower the corruption.

This paper empirically examines the effects of a change in foreign trade regime on productivity growth. Based on a Generalized Leontief factor demand function system, total factor productivity growth (TFPG) rates are calculated for the Turkish rubber industry during a substantial trade...

Cyprus is a divided island. Despite the lack of a comprehensive peace agreement reunifying the country, in 2004 trade commenced across the Green Line that separates the Greek and Turkish Cypriot communities. The volume of trade has grown steadily since, but has it reached its full potential?...

Given the lack of a bill or amendment specific to cotton, we introduce a Cotton Influence Index to capture legislators' influence in championing the cause of the cotton growers during the hearings of the Farm Security and Rural Investment Act of 2002. Regression analyses reveal a relationship...

This study empirically explores the following issue: Does corruption fuel conspicuous consumption? It examines the existence and magnitude of any potential corruption-effect on conspicuous consumption expenditure. Regression analyses of an unbalanced panel data for 20 OECD countries between 2004...