This paper compares some specifications for estimating current sub-state (county or MSA) income. A large number of trials are generated, using the data for Tennessee, in a procedure akin to a series of Monte-Carlo experiments. The out-of-sample forecast errors are examined to see which...

The neoclassical perspective, exemplified by Bertil Ohlin, predicts the fact of interregional per capita income convergence and is therefore often invoked in explaining its causes. However, convergence is also explained by other perspectives, such as Gunnar Myrdal's circular and cumulative...

An important area of consumer choice is time allocation and its role in dictating behavior. For the typical student worker, the time allocation decision involves three primary activities: paid employment, academic pursuits, and leisure pursuits. Exogenous factors such as the wage rate, price of...

Microfinance provides saving and lending services to the poor. It is not conceptually different from banking in the USA. People are able to save money at and borrow money from microfinance institutions. They are compensated for saving and charged for borrowing by an interest rate that compounds...

Previous research on intergenerational mobility in income, occupation, or social class as a Markov process typically uses regression models to analyze cross-sectional data. In this paper we draw data from the National Longitudinal Survey of Youth (NLSY) to build Markov transition states,...

There is growing concern, particularly in policy circles, that rural manufacturing plants may be less likely to export than metro area plants, and that this may exacerbate the economic difficulties of rural America. A variety of reasons have been offered to expect this export gap, but little...