The rash of international financial crises in the 1990s have stimulated great interest in models to predict crises and explain the patterns of contagion that follow crisis. In both of these respects analysis of the Asian crisis has proven to be quite controversial. While some economists have...

Most studies of the deterrence effect of incarceration treat a year in prison as having the same deterrence effect regardless of the conditions of incarceration. In contrast, we estimate both the impact of custody rate and prison location changes on female crime rates. We take advantage of the...

Reports about runaway jury awards have become so common that it is widely accepted that the US jury system needs to be ‘fixed.’ Proposals to limit the right to a jury trial and increase judicial discretion over awards implicitly assume that judges decide cases differently than juries. We...

Using data from the National Employer Survey (NES), this study examines the relationship between wages and on-the-job training. Traditional theory argues that workers may finance onthe- job human capital accumulation through lower wages. A binding minimum wage may, therefore, reduce workplace...

We re-examine the behavior of money growth, inflation and real money balances in post-World War II Taiwan. Prior work has argued that stabilization was achieved discreetly and abruptly in June 1949. Our results suggest, however, that there is an extended period of instability that begins several...

The valuation of illiquid or non-marketable assets is complicated by the fact that the discount rate cannot be computed by using the risk attributes of the asset along with market parameters. Rather, individual attitudes toward risk affect the discount rate. Some recent research has avoided this...

This chapter investigates the contribution of cross-border production networks to the international competitiveness of a nation’s producers. Cross-border sourcing of components has effects on productivity and efficiency that are very similar to those of technical progress. When a country’s...

Vietnamese Americans experience significant wage discrimination and occupational discrimination. Vietnamese men and women earn less than comparable non-Hispanic white Americans. Vietnamese men face discrimination in wages on the order of 10%, and this does not seem to vary significantly by...