Prior to the Arab oil embargo that began in October 1973, the general feeling was that U.S. oil resources were almost limitless. Certainly there were some who were aware that the rate of crude oil production was falling and costs were increasing, but these perceptions were relegated to the...

Investigates the doctrine of Relative Purchasing Power Parity. Mixed evidence is found supporting the concept when using a method analogous to that used by Lucas in testing the quantity theory of money. Relative Purchasing Power Parity is not consistently rejected in the long run between Canada...

Addresses whether the grain quality factors used by the Federal Grain Inspection Service of the US Department of Agriculture in determining the quality grades of wheat exported by the USA including test weight, dockage, moisture content, percentage of foreign material, percentage of shrunken and...

Survey data on expected and actual prices received by individual vegetable growers in Florida, Michigan and Texas in 1990 are used to test the rational expectations hypothesis. The use of individual grower data overcomes many of the issues that have limited previous tests of this hypothesis in...

Incentive regulation has become an important regulatory tool in the telecommunications industry in the USA. The issue explored here is whether incentive regulation has resulted in an increase in productive efficiency. After providing an overview of the nature of incentive regulation, a...