A Markov chain model is applied to analyze changes in real annual state and local police expenditures in the United States, where transition probabilities are functions of crime, demographic and economic variables. Of these variables, the inflation rate for state and local government...

The way in which economist try to learn about economics responses, such as the effects of children on female labor supply, can be broken down into three steps: the consideration of information already available called a priori information, including inferences based on what economist believe...

When a regression model is estimated using a censored subset of observations, coefficient estimates may be biased. Censored regression models have a long history in biometrics, engineering and other areas of applied statistics. The interest of economists in these models was stimulated by...

Pure cross-sectional model cannot capture the observed continuity over time in the work behavior of wives. Proposed alternative models generally require panel data not available in most countries. We present simulation results for models incorporating more limited information about previous...

Paul Rosenstein-Rodan argues that economic development requires coordinated investment in many interdependent industries, and prescribes a flood of state-controlled investment across all sectors — a so-called big push. Widespread government failure defeated twentieth-century ‘big push’...

Japan's corporate sector has, over the past century, been reorganized according to every major corporate governance model. Prior to World War II, wealth Japanese families locked in their control over large corporations by organizing them into pyramidal groups, called zaibatsu, similar to...