Insufficiency in information with which firms judge the productivity of a worker for the first time in the market creates more randomness in initial wages than in later wages. This paper examines whether the initial randomness in wages may have a persistent effecton post wages. We set up a human...

In this paper, we propose a matching model to study the efficiency of thin and thick markets. Our model shows that the probabilities of matches in a thin market are significantly lower than those in a thick market. When applying our results to a job search model, it implies that, if the ratio of...

"The cost containment performance of health maintenance organization (HMO) plans relative to non-HMOs is examined using data from the 2000 Medical Expenditure Panel Survey. When various compounding factors are controlled for, among the privately insured, nonelderly population, HMO enrollment is...

State-operated lotteries have recently been asserted by public administrators and academicians as panaceas for eradicating revenue disparities existing across public school districts in the American states. The purpose of this research project is to empirically test the hypothesis that lottery...

This study examines causal linkages between US and Eurodollar interest rates during 1983-2002. Recursive cointegration analysis shows that a stable cointegration relationship between the two interest rates emerges only since the early 1990s, when the Fed used federal funds rate targeting and...

Both parametric and semiparametric GARCH in mean estimations find a positive but insignificant relationship between expected stock returns and volatility in emerging stock markets. The 1997¡V1998 global emerging market crisis seems to induce changes in GARCH parameters.

This study explores the characteristics of Medicare-only beneficiaries and Medicare-Medicaid dual eligibles in comparison, assess what factors determine the dual eligibility status, and examine the association between dual eligibility status and home healthcare service use. Using retrospective...