This paper examines the impact of investments in modernization and innovation on productivity in a sample of firms in the global pulp and paper industry. This industry is important because it has traditionally accounted for significant amounts of employment and capital investment in North...

In their seminal work, The Calculus of Consent (1962), Buchanan and Tullock develop a decision model which embodies fundamental relation­ships relevant to institutional choices. However, the Buchanan-Tullock model remains "general," thus inviting others to specify details and to develop...

Using two alternative measures of expected inflation, this study investigates the impact of federal budget deficits on nominal long-term interest rate yields for the 1973.2-1995.4 period. Based on an open­ economy loanable funds framework, four instrumental variable esti­mates in first...

What would the true government expenditure and tax burden im­pacts of California's Proposition 4 likely be if it (or its equivalent) were enacted in all 50 states? What happened to actual state plus local government expenditures per capita over the period 1970-1976 is examined. Next, we examine...

This paper investigates the determinants of student choice of under­graduate major field. It argues that this choice depends on a variety of pecuniary and non-pecuniary factors. After allowing for the recent trends toward Accounting and Business Administration, the empirical results indicate...

This paper examines the relationship between union corruption actions and union membership. State-level data from the Office of Labor-Management Standards, and other sources, are utilized over two study periods (1974-2000 and 2001- 2008) to test three hypotheses, including the union corruption...

The results of this study for the 50 states imply that considerations of distance play an important role in the migration decision of blacks, with the distance variable being statistically significant at the five percent level or better in 80 percent of the cases. The racial composition variable...