Data from more than 1,000 inspections to the Nuclear Regulatory Commission form the basis for an investigation into the nature of safety regulation at U.S.commercial nuclear reactors. Poisson (and binary choice) models of the rate of occurrence of violations during each inspection period are specified and are extended to control for nondetection and for the possibility that violations persist from one inspection to the next. These models are used to study the factors associated with noncompliance, relative rankings of plants according to propensity to violate, the variation in detection rates among NRC inspectors, and the relationship between undetected violations and abnormal occurrences.

Data from more than 1,000 inspections to the Nuclear Regulatory Commission form the basis for an investigation into the nature of safety regulation at U.S.commercial nuclear reactors. Poisson (and binary choice) models of the rate of occurrence of violations during each inspection period are specified and are extended to control for nondetection and for the possibility that violations persist from one inspection to the next. These models are used to study the factors associated with noncompliance, relative rankings of plants according to propensity to violate, the variation in detection rates among NRC inspectors, and the relationship between undetected violations and abnormal occurrences.

Is the capital function distinct from the entrepreneurial function in modern economies? Or does a person have to be wealthy before he or she can start a business? Knight and Schumpeter held different views on the answer to this question. Our empirical findings side with Knight: Liquidity constraints bind, and a would-be entrepreneur must bear most of the risk inherent in his venture. The reasoning is roughly this: The data show that wealthier people are more inclined to become entrepreneurs. In principle, this could be so because the wealthy tend to make better entrepreneurs, but the data reject this explanation. Instead, the data point to liquidity constraints: capital is essential for starting a business, and liquidity constraints tend to exclude those with insufficient funds at their disposal.

This paper analyzes the effects of government debt and income taxes on consumption and saving in a world of infinitely lived households having uncertain and heterogeneous incomes. The special structure of the model allows exact aggregation across households despite incomplete markets. The effects of government debt are shown to be substantial, roughly comparable to those resulting from finite horizons, and crucially dependent on the length of time until the debt is repaid. Also, anticipated changes in taxes are shown to cause anticipated changes in consumption. Finally, an index of fiscal stance is derived.

The paper develops new methodology for the estimation of prewar GNP, taps previously unused data sources, and develops new estimates for the periods 1869-1908 and 1869-1928. Primary among the new data sources are direct measures of output in the transportation, communications, and construction sectors and estimates of the consumer price index. New measures of real GNP, nominal GNP, and the GNP deflator are developed. The new estimates of real GNP are as volatile on average over the business cycle as the traditional Kuznets-Kendrick series but dampen the amplitude of some cycles while raising the amplitude of others. The new estimates of the GNP deflator are distinctly less volatile than the traditional series and in fact no more volatile than those in the postwar period.

A concept of demographic separability is proposed that formalizes the notion that there are groups of goods (adult goods) that have little or no relationship to specific classes of household demographics (the numbers or ages of children).That there exist adult goods demographically separable from children is a necessary but not sufficient condition for the validity of Rothbarth's method for measuring child costs. We propose two different methods for testing demographic separability and present results from a 1981 survey of Spain. The econometric evidence is in fair agreement with the theoretical presuppositions.

Is the capitalist function distinct from the entrepreneurial function in modern economies? Or does a person have to be wealthy before he or she can start a business? Frank H. Knight and Joseph A. Schumpeter held different views on the answer to this question. The authors' empirical findings side with Knight: liquidity constraints bind, and a would-be entrepreneur must bear most of the risk inherent in his venture. The reasoning is roughly this: the data show that wealthier people are more inclined to become entrepreneurs. In principle, this could be so because the wealthy tend to make better entrepreneurs, but the data reject this explanation. Instead, the data point to liquidity constraints: capital is essential for starting a business, and liquidity constraints tend to exclude those with insufficient funds at their disposal.

This paper analyzes the effects of governeent debt and income taxes on consumption and saving in a world of infinitely-lived households having uncertain and heterogeneous incomes. The special structure of the model allows exact aggregation across households despite incomplete mmrkets. The effects of government debt are shown to be substantial, roughly comparable to those resulting from finite horizons, and crucially dependent on the length of time until the debt is repaid. Also, anticipated changes in taxes are shown to cause anticipated changes in consumption. Finally, an index of fiscal stance is derived.