The setting of user prices for enterprises with large fixed costs and marginal costs below average costs – “natural monopolies” – raises important policy questions regarding both efficiency and equity. It has become well accepted among economists that, in a variety of settings, welfare...

This study considers the joint role of job and housing location as they affect the earnings of different race and gender groups. Building on Wial's (1991) case study of networks in Boston which distribute good jobs, the `network hypothesis' suggests that the channels which distribute high wage...

Over the past 20 years, finance has become commodified. Firms increasingly obtain finance from securities markets, instead of borrowing from commercial banks with which they have long-term relationships, while Fannie Mae and Freddie Mac package a growing number of mortgages into bonds. When...

Substantial variation in recognition rates for asylum claims from the same countries of origin and therefore prima facie equal merit subjects refugees to unfair and discriminatory treatment. This article demonstrates the extent of variation and lack of convergence over the period 1980 to 1999...

In this article, we analyze the job-matching quality of people with disabilities. We do not find evidence of a higher importance of over- education in this group in comparison to the rest of the population. The main results are the following: people with disabilities have a lower probability of...