The price puzzle is the association in a structural vector autoregression (SVAR) of a contractionary shock to monetary policy with persistent increases in the price level. Various explanations have been investigated separately in the framework of small SVARs without any common set of variables...

Introduction: what is economics -- The key principles of economics -- Demand, supply, and market : "equilibrium" -- Elasticity : a measure of "responsiveness" -- Production technology and cost -- Perfect competition -- Monopoly and price discrimination -- Market entry, monopolistic competition,...

The bank lending channel implies the Federal Reserve can influence real income by controlling the level of intermediated loans. Using the notion of causality developed by Simon (1953) and the causal order methodology developed by Hoover (1990), I test for an operative bank lending channel in the...

This article presents evidence showing that success in football and men’s basketball at the National Collegiate Athletic Association (NCAA) Division I level positively affects enrollment of local high school graduates at a college or university. Panel regressions for eight California...