ARM‐BREAKING, CONSUMER CREDIT AND PERSONAL BANKRUPTCYEconomic Inquiry - Tập 22 Số 2 - Trang 188-208 - 1984
Samuel A. Rea
The consumer credit transaction is analyzed as a contract which provides insurance as well as present consumption for the borrower. Creditors' remedies such as “arm‐breaking” are shown to facilitate provision of insurance (forgiveness of debts) when lenders cannot monitor outcomes. Alternatively, if outcomes are observable but lenders do not ex ante know the risk associated with each borro...... hiện toàn bộ
THE EFFECT OF YOUTH ALCOHOL INITIATION ON HIGH SCHOOL COMPLETIONEconomic Inquiry - Tập 43 Số 4 - Trang 750-765 - 2005
Steven F. Koch, Kerry Anne McGeary
The social environment inherent in schools impacts both alcohol consumption onset and high school completion. The results reported here, based on data from the 1979–96 NLSY panels, show that the social coincidences between alcohol consumption and education are important determinants of both education completion and alcohol onset. Ignoring the social nature of these simultaneous decisions u...... hiện toàn bộ
THE IMPORTANCE OF FINANCIAL CONSIDERATIONS IN DIVORCE DECISIONSEconomic Inquiry - Tập 31 Số 1 - Trang 71-86 - 1993
H. Elizabeth Peters
This paper studies the linkage between the expected financial consequences of divorce and the decision to become divorced. A standard choice‐theoretic model predicts that the probability of divorce will be negatively related to the financial opportunity cost of divorce. This opportunity cost is measured as the difference in the present values of the future income streams that a married wom...... hiện toàn bộ
ON SOME RECENT EXPLANATIONS OF WHY CAPITAL HIRES LABOREconomic Inquiry - Tập 22 Số 2 - Trang 171-187 - 1984
Louis Putterman
Conventional microeconomics contains no explanation of why capital hires labor (and not the reverse). In view of some surprisingly positive results in the theoretical analysis of worker‐run enterprise systems, recent contributions to the theory of the firm have attempted to explain the dominance of capitalist production relations in efficiency terms. The present paper critically reviews wo...... hiện toàn bộ
The Demand for Credit Cards: Evidence from the Survey of Consumer FinancesEconomic Inquiry - Tập 42 Số 2 - Trang 304-318 - 2004
Edward Castronova, Paul Hagstrom
We analyze data from the Survey of Consumer Finances estimate the response of credit card demand to standard price and income effects. We model credit card demand as a two‐stage process, with consumers obtaining limits in the first stage and then borrowing some fraction of those limits in the second. We estimate this model with a nested tobit procedure. We also treat the demand for limits ...... hiện toàn bộ
RULES AND DISCRETION WITH NONCOORDINATED MONETARY AND FISCAL POLICIESEconomic Inquiry - Tập 25 Số 4 - Trang 619-630 - 1987
Alberto Alesina, Guido Tabellini
The time inconsistency of optimal monetary policy is due to the effects of tax distortions. Thus the issue of how to improve upon the time‐consistent suboptimal monetary policy is related to that of the coordination of monetary and fiscal policy. We present a model with three players (the central bark, the fiscal authority, and wage setters) in which distortionary taxes are explicitly mode...... hiện toàn bộ
SKILLED‐UNSKILLED WAGE INEQUALITY AND URBAN UNEMPLOYMENTEconomic Inquiry - Tập 48 Số 4 - Trang 997-1007 - 2010
Hamid Beladi, Avik Chakrabarti, Sugata Marjit
The impact of trade liberalization on the labor market in the North has drawn tremendous attention in the face of the growing skilled‐unskilled wage gap but in the South it has been somewhat neglected. One of the key structural differences between the North and the South is that the South experiences a pronounced rural‐urban migration in the presence of urban unemployment. We ...... hiện toàn bộ
DO CIVIL AND POLITICAL REPRESSION REALLY BOOST FOREIGN DIRECT INVESTMENTS?Economic Inquiry - Tập 40 Số 4 - Trang 651-663 - 2002
Philipp Harms, Heinrich W. Ursprung
Multinational enterprises are often accused of having a preference for investing in countries in which the working populations' civil and political rights are largely disregarded. This article presents an empirical investigation of the popular “political repression boosts FDI” hypothesis and arrives at the conclusion that the hypothesis is not supported. On the contrary, multinational ente...... hiện toàn bộ