"The minimum legal drinking age (MLDA) is widely believed to save lives by reducing traffic fatalities among underage drivers. Further, the Federal Uniform Drinking Age Act, which pressured all states to adopt an MLDA of 21, is regarded as having contributed enormously to this life-saving...

This paper examines the effect of drug prohibition on the black market prices of cocaine and heroin. The paper examines the ratio of retail to farmgate price for cocaine, heroin, and several legal goods, and it compares legal versus black market prices for cocaine and heroin. The results suggest...

In this paper we examine two different measures of monthly production that have been used by economists. The first measure, which we refer to as IP, is the index of industrial production constructed by the Board of Governors of the Federal Reserve. This measure is used extensively in empirical...

In recent years there has been a resurgence of interest in the empirical behavior of inventories. A great deal of this research examines some variant of the production smoothing model of finished goods inventories. The overall assessment of this model that exists in the literature is quite...

In recent years there has been a resurgence of interest in the empirical behavior of inventories. A great deal of this research examines some variant of the production smoothing model of finished goods inventories. The overall assessment of this model that exists in the literature is quite...