More intensive copyright enforcement reduces piracy, raises prices, and lowers consumer surplus. We show that these results do not hold regarding the extent rather than intensity of enforcement. When enforcement is targeted at high-value buyers such as corporate and government users, the...

We show that the effects of inflation on growth change substantially as the inflation rate rises. Moreover the nonlinearities are quite different for industrial economies than for developing countries. We find that the threshold at which inflation first begins to seriously negatively affect...

That Malthus was guilty of egregious error in his claim to have established the labor-commanded magnitude as an "invariable" unit of value is well-known. Even his modern biographer could appeal only to a "kink or a crotchet, some kind of cerebral block" to excuse Malthus's persistent failure to...

While the Serrano v Priest decisions and Proposition 13 effectively rendered California school district budgets exogenous, intra-district resource allocation remains largely at the discretion of school district administrations. As a result, Serrano v Priest and Proposition 13 alleviate concerns...

U.S. government expenditures increased rapidly during the post-war period, then slowed in the 1980s and began falling in 1992. To examine the dynamics of the growth and subsequent reduction in government spending, we present a dynamic general equilibrium model in which politicians choose...

In high-tech industries, one important method of diffusion is through employee mobility: many of the entering firms are started by employees from incumbent firms using some of their former employers' technological know-how. This paper explores the effect of incorporating this mechanism in a...

Economists have suggested that the quality of higher education is not independent of the sources of funds used to fund that education. This paper examines the relationship between student measures of teaching quality and institutional revenue sources. The results indicate that a greater reliance...

Buchanan's contributions through 1984 are surveyed in six areas: (A) debt, fiscal illusion, and Keynesian criticisms, (B) London School of Economics cost approach, (C) methodological individualism and the economics of politics, (D) welfare price theory, (E) rent-seeking and polity failure, and...

From at least 1893 economists have viewed income as an important determinant of government size and the hypothesis that government size increases with income is now enshrined in the literature as Wagner’s Law. More recently, however, public choice economists and growth theorists have tended to...