The study of bureaucracy must include certain key questions: what are bureaucrats and bureaucracies; why do they exist and what are their functions; how do they behave; how much power do they possess; what is their impact on efficiency and production; and how do they affect society? This book...

This paper draws on literatures on vouchers and discrimination, and derives an optimal voucher scheme as a supplement to standard anti-discrimination policies, including affirmative action. Surveying current policy methods, it compares efficiency and distributional effects of vouchers to those...

In 1982 the British government began to issue bonds indexed to the inflation rate. This article investigates the impact of the introduction of this asset on the market for a nonindexed security. The impact is estimated in the context of a model derived from the literature on interest rate...