We examine college affordability under the existing pricing and financial aid system that awards both non need-based and need-based aid. Using data of freshmen attending a large number of selective private and public colleges in the USA, we find that the prices students actually pay for college...

In a classic article, Granger (1966) asserted that most economic time series measured in level have spectra that exhibit a smooth declining shape with considerable power at very low frequencies. There has been no systematic attempt to examine Granger's assertion. We estimate output level spectra...

"This study examines the enrollment decisions of freshmen applicants to highly selective private colleges relative to highly selective public colleges. The empirical analysis shows that college enrollment varies by family income-in particular, low-income students with demonstrated financial need...

Evidence on the deterrent effect of capital punishment is important for many states that are currently considering a change in their position on the issue. We examine the deterrent hypothesis using county-level post-moratorium panel data and a system of simultaneous equations. The procedure we...

In a classic article, Granger (Econometrica 34, 1966) asserted that most economic time series measured in level have spectra that exhibit a smooth declining shape with considerable power at very low frequencies. There has been no systematic attempt to examine Granger's assertion with...

A modification of Kenneth West's method for investigating speculative bubbles in stock prices, in which a direct test of the "no bubble" hypothesis is applied to long-term annual U.S. stock-market data.

Evidence on the deterrent effect of capital punishment is important for many states that are currently reconsidering their position on the issue. We examine the deterrent hypothesis by using county-level, postmoratorium panel data and a system of simultaneous equations. The procedure we employ...

We use panel data for 50 states during the 1960--2000 period to examine the deterrent effect of capital punishment, using the moratorium as a "judicial experiment." We compare murder rates immediately before and after changes in states' death penalty laws, drawing on cross-state variations in...