Financial markets exhibit an asymmetric news effect with unexpected low prices generating more price volatility than quot;newsquot; of high prices. The present study examines US food markets for such asymmetric news effects. Analysis of 25 years of monthly data for 45 retail food items shows...

Using a supply-demand framework, a six-equation model is specified to generate hypotheses about the relationship between state aid and student performance. Theory predicts that an increase in state or federal aid provides an incentive to decrease local funding, but that the disincentive...

Manufacturers have been increasingly relying on environmental management systems (such as ISO 14001 based ones) to comply with government regulations and reduce waste. In this paper, we investigated the impact of ISO 14001 certification on manufacturers' toxic release by release level. We...

Third party certification bodies audit companies to determine compliance with standards. We introduce a model of oligopoly competition between certification bodies, showing that a higher degree of certification body competition results in higher grades. We empirically test this hypothesis using...

We used Nielsen store-level scanner data on cigarette prices from convenience stores over the period 2011-2012 to measure the incidence of cigarette excise taxes. We found that cigarette taxes were more than fully passed through to retail prices on average, suggesting consumers pay excess burden...

Much of the recent empirical literature examining the New Economic Geography has focused on how access to markets impacts wages. In this article, we consider an alternative aspect of the theory by examining how access to markets affects industry growth. We develop a model relating the growth of...