In the 1990s, companies collected billions in premiums from peculiarly structured put options written on their own stock while almost all of these puts expired worthless. Buyers of these options, primarily �nancial intermediaries, lost money as a result. Although these losses might seem...

Many studies have used micro-level data in estimating earnings differentials by gender for college professors. None has studied racial earnings differences for faculty except by employing a dummy variable for race in its regression models. The availability of the 1993 National Study of...

Due to its central role in various debates about the determinants of individual earnings, the Mincerian earnings function (MEF) as given in Mincer (1974) has attracted the attention of many economists. The MEF has been estimated virtually for every country except Pakistan, where a necessary...

This paper tests for the sheepskin or diploma effects in the rates of return to education in a developing country, Pakistan; presumably the only study for the country that explicitly investigates this important question. One reason for this paucity of work may have been lack of appropriate data...