In this paper we develop a theory of “Kosher Wars” under which Rabbis (certifying authorities) compete to enhance the level of Jewish observation of their congregations. The level of observance can be seen as the Rabbi’s rents. Our rent-seeking model explains the establishment...

Does fiscal governance affect government borrowing costs? We operationalize fiscal governance as the ability of governments to pass a budget on time and, using a unique data set on budget enactment dates, analyze the effect of such late budgets on government bond yield spreads. Based on a sample...

This paper examines mandatory occupational licensure in several professions from barbers, cosmetologists, radiologic technicians, CPAs, mid-level healthcare providers, and physicians. Mandatory licensure is cited as a mechanism for serving the public interest by assuring professionals possess...

Whether Federal Reserve Bank presidents have the right to vote on the U.S. monetary policy committee depends on a mechanical, yearly rotation scheme. Rotation is without exclusion: also nonvoting presidents attend and participate in the meetings of the committee. Does voting status change...

Whether Federal Reserve Bank presidents have the right to vote on the U.S. monetary policy committee depends on a mechanical, yearly rotation scheme. Rotation is without exclusion: also nonvoting presidents attend and participate in the meetings of the committee. Does voting status change...

Whether Federal Reserve Bank presidents have the right to vote on the U.S. monetary policy committee depends on a mechanical, yearly rotation scheme. Rotation is without exclusion: also nonvoting presidents attend and participate in the meetings of the committee. Does voting status change...