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...

El debate reciente sobre la pequeña industria, la microempresa y el sector "informal" en general, se inspira en gran medida en concepciones elaboradas por la Teoría del Desarrollo y por la literatura que aquí denominamos de "lo informal". El artículo describe las principaleslineas...

Desde comienzos de la década de 1960, distintos analistas de las cuestiones económicas internacionales comenzaron a observar el relativo decaimiento de la economía norteamericana frente a sus competidoras del Asia (Japón, más precisamente) y de Europa Occidental. En el campo político,la...