Studies in Economics and Finance: Volume 11 Issue 2

TESTS OF CARTTER'S WAGE‐PREFERENCE PATH

William K. Bellinger

Over the past decade, Allan Cartter's model of the utility maximizing union and the institutional principles upon which it is based have provided the basis for much of the…

ANTICIPATED AND UNANTICIPATED INCOME WITHIN THE CONSUMPTION FUNCTION: A RATIONAL EXPECTATIONS APPROACH

James E. Payne

The rational expectations‐permanent income hypothesis (REPIH) is nothing new. The initial REPIH of Hall (1978) suggested that no other variable observed in earlier periods, given…

OCCUPATIONAL MOBILITY IN A DYNAMIC ECONOMY: A NOTE

PAUL W. GRIMES

The process of occupational upgrading has received a significant amount of attention from labor economists in recent years. This is not surprising given that approximately ten…

UNCOVERED INTEREST ARBITRAGE, PURCHASING POWER PARITY AND RISK PREMIUMS ON FOREIGN EXCHANGE

Charlie G. Turner

The research for this paper focuses on the implied expected exchange rates between the U.S. dollar and the Deutsche Mark. We use one year debt yield and one year inflation…

“HAS THE DARBY‐FELDSTEIN EFFECT BEEN CONFIRMED?:” A COMMENT

William Gissy

In an earlier paper published in this journal, Michael Bond and Gerald Smolen (1986) set out to test for the presence of the Darby‐Feldstein effect. They regressed the nominal…

HAS THE DARBY‐FELDSTEIN EFFECT BEEN CONFIRMED?: REPLY

Michael T. Bond, Gerald E. Smolen

William Gissy (1987) is absolutely correct when he asserts that the existence of a complete inverted Fisher Effect renders our test for the Darby Effect a simple measure of tax…