Inflation stationarity has important theoretical and policy implications, yet most of the literature has focused on low inflation countries. This article investigates inflation stationarity in Brazil, Argentina, Chile, Mexico and Bolivia during a hyperinflationary period from 1980 to 2004. We...

Michael Lewis’ influential book <italic>Moneyball</italic> (2003) discusses several sources of inefficiency in the Major League Baseball (MLB) labour market; one of these being the failure of baseball scouts to place a draft premium on college players. We test this implication of the <italic>Moneyball</italic> thesis -- the...

This article revisits the key issue raised by researchers who have empirically investigated the behaviour of short term US interest rates during the period 1890-1933. The seminal article of Mankiw, Miron and Weil (1987) argues that changes in the behaviour of nominal interest rates is best...

This study investigates, using annual data from 1974--2004, whether unionization rates, trade openness and central bank independence can help explain cross-national and inter-temporal variations in level of peak inflation prior to a disinflationary policy adjustment. I find that unionization is...

We estimate a time series model of voter turnout for 34 US presidential elections, 1880--2012. Employing a variety of econometric techniques, our major results are as follows. (1) A negative and significant structural shift in voter turnout occurs in 1972 and is too large to be explained by the...

This paper examines the J-curve hypothesis for US agricultural and manufactured goods, using the Shiller lag model. The results support the J-curve effect for agricultural goods, but not for manufactured goods. These findings explain why many studies in the literature fail to support the J-curve...