We use data from the NFL over 1920-2004 to examine the relationship between age and managerial performance controlling for other relevant influences. Our results indicate that age enhances performance up to a point at which increasing age predicts diminished performance-a managerial life cycle....

In this paper, a human capital model is used to investigate the effects of occupational licensing and occupational certification on the wage rates of individual women. When we analyzed micro data available from the National Longitudinal Surveys of mature and young women, we found that licensed...

This article explores the relationships among Libor, gold prices, the exchange rate, oil prices, fed funds futures prices and stock prices at a daily frequency. This article examines whether expected monetary policy, measured by changes in the prices of fed funds futures contracts, reacts to...

Despite financial economists' long-standing interest in the role of lender-borrower relationships in increasing the availability of funds to small businesses, many questions remain unanswered. Numerous empirical studies investigate the effect of relationships on the availability and terms of...

Asset prices may react to news through changes in expected monetary policy. We examine whether economic news directly affects expected changes in monetary policy, measured by changes in federal funds rate futures prices. Because these prices depend on monthly averages of the effective funds...

This paper analyses the consequences of the Nixon Administration’s policy of wage-price controls and finds that the controls were essentially ineffective in reducing inflation.

This paper examines whether there is a systematic relationship between FOMC decisions and publicly available data that would potentially allow the public to anticipate FOMC policy changes. We characterize each FOMC decision as a move to tighten, ease, or leave policy unchanged and use ordered...