An inductive study of rate theories, 1. — Decisions of the Interstate Commerce Commission as material for such a study, 4. — I. Commission's preliminary statement of the fundamental principle of rate making, 7. — The determining factors in the Commission's decisions, 10. — II. Value of commodity as a rate basis, 11. — 1. Competitive commodities, 12. (a) in different stages of manufacture, 13. — (b) as possible substitutes for each other, 25. — 2. Non-competitive commodities, 28. — 3. Market value the criterion, 33. — 4. Social considerations, 35. — III. Cost of service as a rate basis, 40. — 1. Some special service rendered, 42. — 2. Comparison with other commodities, 50. — 3. Comparison with rates elsewhere, 58. — 4. Car load and less than car load shipments, 60. — Conclusion with reference to cost of service, 65.

IN the following States regular legislative sessions were held and concluded during the year: Iowa, Kentucky, Louisiana, Maryland, Massachusetts, Mississippi, New Jersey, New

The Fundamental Error of “Kapital Und Kapitalzins.” Get access Frederick B. Hawley Frederick B. Hawley Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 6, Issue 3, April 1892, Pages 280–307, https://doi.org/10.2307/1882460 Published: 01 April 1892

Michael B. Devereux, Beverly J. Lapham; The Stability of Economic Integration and Endogenous Growth*, The Quarterly Journal of Economics, Volume 109, Issue 1, 1

We study an incentive model of financial intermediation in which firms as well as intermediaries are capital constrained. We analyze how the distribution of wealth across firms, intermediaries, and uninformed investors affects investment, interest rates, and the intensity of monitoring. We show that all forms of capital tightening (a credit crunch, a collateral squeeze, or a savings squeeze) hit poorly capitalized firms the hardest, but that interest rate effects and the intensity of monitoring will depend on relative changes in the various components of capital. The predictions of the model are broadly consistent with the lending patterns observed during the recent financial crises.

We examine the reduced-form relationship between per capita income and various environmental indicators. Our study covers four types of indicators: urban air pollution, the state of the oxygen regime in river basins, fecal contamination of river basins, and contamination of river basins by heavy metals. We find no evidence that environmental quality deteriorates steadily with economic growth. Rather, for most indicators, economic growth brings an initial phase of deterioration followed by a subsequent phase of improvement. The turning points for the different pollutants vary, but in most cases they come before a country reaches a per capita income of $8000.

This paper assesses the impact of employer-provided health insurance on job mobility by exploring the extent to which workers are 'locked' into their jobs because preexisting conditions exclusions make it expensive for individuals with medical problems to relinquish their current health insurance. I estimate the degree of job-lock by comparing the difference in the turnover rates of those with high and low medical expenses for those with and without employer-provided health insurance. Using data from the 1987 National Medical Expenditure Survey, I estimate that job-lock reduces the voluntary turnover rate of those with employer-provided health insurance by 25 percent, from 16 percent to 12 percent per year.

Recently, several central banks have lost their bank supervisory responsibilities, in part because it has not been shown that supervisory authority improves the conduct of monetary policy. This paper finds that confidential bank supervisory information could help the Board staff more accurately forecast important macroeconomic variables and is used by FOMC members to guide monetary policy. These findings suggest that the complementarity between supervisory responsibilities and monetary policy should be an important consideration when evaluating the structure of the central bank.

This paper shows a widening in black-white earnings and employment gaps among young men from the mid-1970s through the 1980s. Earnings gaps increased most among college graduates and in the Midwest, while gaps in employment-population rates grew most among dropouts. We attribute the differential widening to shifts in demand for subgroups due to shifting industry and regional employment, the falling real minimum wage and deunionization, the growing supply of black to white workers that was marked among college graduates, and to increased crime among dropouts. The different factors affecting subgroups highlight the economic diversity of black Americans.

The full title of Mr. Wickens' volume is necessary to suggest the comprehensive nature of the work.