[...]In this paper, I examine two methods of measuringthe value of better schools. One involves following individualsover time to determine how the quality of theirschooling affects outcomes later in their lives; the otherinvolves calculating parental valuation of better schoolstoday. I review...

[...]In this article, we explore the relationship betweenfranchise value and risk taking over the 1986-94 period.We extend Keeley’s empirical analysis by estimating theeffect of franchise value on a variety of measures of bankrisk. We find an inverse relationship between franchisevalue and an...

[...]The analysis of competitive markets culminated in the fundamental theorems of welfare economics which elucidated the (restrictive) conditions under which resource allocation by markets would achieve Pareto efficiency. The first fundamental theorem says that all perfectly competitive...

The largest U.S. commercial banks are currently in theprocess of restructuring their retail operations. A stagnantdeposit base and intense competition in the marketplacefor financial services have made the overhead costs of anextensive branch network increasingly onerous. At thesame time,...

The securities industry in the New York–New Jerseyregion is currently enjoying strong growth in employmentand salaries. The industry is particularly important to theregion because it is concentrated locally and pays highwages. Although vulnerable to stock and bond marketfluctuations, the...

In this paper we use microdata on employment and earnings from avariety of industrialised countries to investigate the family gap in pay –the differential in hourly wages between women with children andwomen without children. We present results from seven countries:Australia, Canada, the...

Older men have experienced the largest falls in employment over thelast twenty years. Two-fifths of men aged between 55 and 65 are withoutwork, compared to one-fifth in 1979, and the difference is equivalent to600,000 fewer jobs for this age group alone. Older women have notshared in the general...

The principal aim of Section F of the British Association is to show how economicanalysis can be applied to illuminate important issues of public concern. The themefor the 1997 Section F Meeting of “Equality and Opportunity” surely satisfied thiscriterion. The subject matter is highly...