This note comments on a misconception that yield to maturity from holding a coupon bond until maturity is only promised, but not really received, unless coupon payments are reinvested at the same rate as the (original) yield to maturity. It shows that yield to maturity is always earned no matter...

This theoretical note elaborates upon why it is a myth that YTM is viewed as only a promised but not really earned interest rate. It addresses some misconceptions in Shirnani and Wilbratte (2009) on what, between YTM and RCY, is a true rate of return of a coupon bond, why YTM is not just a...

This paper investigates the determinants of student choice of under­graduate major field. It argues that this choice depends on a variety of pecuniary and non-pecuniary factors. After allowing for the recent trends toward Accounting and Business Administration, the empirical results indicate...

This paper examines the relationship between union corruption actions and union membership. State-level data from the Office of Labor-Management Standards, and other sources, are utilized over two study periods (1974-2000 and 2001- 2008) to test three hypotheses, including the union corruption...

The results of this study for the 50 states imply that considerations of distance play an important role in the migration decision of blacks, with the distance variable being statistically significant at the five percent level or better in 80 percent of the cases. The racial composition variable...

Using the most current data available, this study seeks to identify any new as well as traditional determinants of personal income tax evasion. A variety of empirical estimates find that income tax rates, the IRS audit rate and IRS penalty interest rates, and the unemployment rate all influence...

This empirical study investigates the Tiebout-Tullock hypothesis as it might have applied to net domestic state in-migration rates over the period 1990 through 1999. It appears that the net state in-migration rate has been directly related to the ratio of the total state plus local government...

A number of recent studies have been concerned with the determinants of either housing cost differentials or overall living cost differentials among SMSAs. Given the obvious significance of such differentials, the purpose of this research note is to develop a geographically comparable...

This study empirically examines the impact of federal income tax rates, IRS penalties on unpaid tax liabilities, and audit rates by the Internal Revenue Service on the size of the underground economy in the United States. Recent data generated by Edgar Feige are used to measure the size of the...

This study empirically investigates the determinants of aggregate federal personal income tax evasion in the U.S. using the most current IRS data available. In 2010, the IRS released a new series on personal income tax evasion data running through the year 2005. Using this new data, the present...