The Legacy Loans Program (LLP) is an elaborate way of slicing the Federal Deposit Insurance Corporation's (FDIC's) receivership assets. At best, the financial structure is irrelevant to the FDIC's expected long-run recovery rates. Yet, it may boost short-term prices by creating bond insurance...

An unprecedented number of hotel company mergers took place between 2004 and 2007. The purpose of this study was to determine whether there were abnormal stock returns or volume activity in the periods surrounding the merger announcement date in the trading of 19 public hotel companies which...

Examining US data, this study uses techniques of cointegration analysis to test whether real estate investment trusts (REITs) are a useful hedge against inflation. Johansen tests seem to indicate that REITs are cointegrated with the general price level. This is true for a broad REIT index as...

After a rocky start to the volunteer military in the late 1970s, since 1980 the United States military services have met or exceeded their recruiting and retention goals in most years and have done so at reasonable cost. The ongoing conflict in Iraq is the U.S. military's first protracted...

This article is an exercise in economic methodology. It replicates two published models of the effect of military expenditure on the United States economy but, in order to study variations in the relevant estimated parameters, applies two different military expenditure data sets to the models...

Der Bericht faßt die wichtigsten Ergebnisse des ifo Konjunkturtests zusammen. Im März 1994 nutzten die Betriebe des verarbeitenden Gewerbes Westdeutschlands ihre Produktionsanlagen durchschnittlich zu 80,5 %. Der Auftragseingang nahm im ersten Quartal 1994 leicht zu. Die Reichweite der...

Nach den Ergebnissen des ifo Konjunkturtests nutzten die Betriebe des verarbeitenden Gewerbes Westdeutschlands im Juni 1994 ihre Anlagen durchschnittlich zu 82,3 %. Dieser Wert lag deutlich über dem im März erreichten Niveau von 80,3 %. Insgesamt sind zuletzt mehr Aufträge eingeangen, was zu...