We extend Bresnahan and Reiss's (1991) model of local oligopoly to allow firm entry and exit over time. In our framework, entrants have to incur sunk costs in order to enter a market. After becoming incumbents, they disregard these entry costs in deciding whether to continue operating or to...

Korean higher education institutions are facing serious challenges from inside and outside Korea. Some of them have difficulties filling government-set freshman quotas every year, and the opening of the Korean education market is due soon. It is now imperative to internationalize their campuses...

Korean higher education institutions are facing serious challenges from inside and outside Korea. Some of them have difficulties filling government-set freshman quotas every year, and the opening of the Korean education market is due soon. It is now imperative to internationalize their campuses...

Since 1980, income inequality has risen faster in Taiwan than in the United States. Inequality rose despite a rapid increase in the share of educated workers in the labour market that might have been expected to depress returns to education. Returns to a college education rose in Taiwan for all...

Over the past quarter century, Kansas has grown at 2.4% per year compared to the U.S. average of 3.1% per year. Kansas has also grown more slowly than the other Prairie states, although the gap is only 0.1% per year. The puzzle is that as a relatively highly educated state, Kansas should have...

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Two-digit manufacturing industry-level production functions are used to test efficiency wage propositions. Conclusive tests require functional forms which allow differences in elasticities of substitution between observable human capital, wage premia and other inputs. Results demonstrate that...

Balochistan Province of Pakistan initiated two pilot programs attempting to induce the creation of private schools for poor girls. Randomized assignment to treatment and control groups is used to measure program effectiveness. The pilot schools were successful in urban areas, but relative...

A special report by: National Pork Board, Pfizer Animal Health, and National Hog Farmer.

Since 1980, income inequality has risen faster in Taiwan than in the United States. Inequality rose despite a rapid increase in the share of educated workers in the labour market that might have been expected to depress returns to education. Returns to a college education rose in Taiwan for all...