To estimate a sample quantile’s variance, the quantile spacing method involves smoothing parameter m. When m,n→∞, the corresponding Studentized test statistic is asymptotically N(0,1). Holding m fixed instead, the asymptotic distribution contains the Edgeworth expansion term capturing the...

Purpose – The purpose of this article is to investigate how political skill relates to career decisions and occupational fit. Design/methodology/approach – The study utilizes undergraduate business majors to determine how their level of political skill influences their choice of career/major...

In this paper, we examine the relationship between the price level and output and the inflation rate and output at business-cycle frequencies. In the first part of the paper, we develop a methodological approach to characterizing joint business cycle correlations. In particular, we are...

Advance selling is a marketing strategy by a firm that allows consumers to submit pre-orders for a new to-be-released product. It helps the firm to reduce uncertainty about future demand and consumers to avoid stock-out risks. At the same time, consumers might be reluctant to place advance...

Economic experiments conducted in laboratories employing an induced-values methodology can report on allocative efficiencies observed. This methodology is limited by requiring the experimenter to know subjects' motivations, an impossibility in field experiments. Allocative efficiency implies a...

Previous research using data on convictions for corruption-related crimes from the Public Integrity Section (PIN) of the Department of Justice points to a positive correlation between the amount of corruption in a state and the amount of federal funds provided to the state for natural disaster...

This paper investigates the effects of estate taxation when firms cannot directly observe worker skill levels. Imperfect labor market signaling gives rise to an information externality that causes workers to free-ride off of others' human capital acquisition. Inherited wealth exacerbates the...

We propose a Bayesian stochastic search approach to selecting restrictions on multivariate regression models where the errors exhibit deterministic or stochastic conditional volatilities. We develop a Markov Chain Monte Carlo (MCMC) algorithm that generates posterior restrictions on the...