# Elsevier

# Economics Letters

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### 1991, Volume 36, Issue 2

**203-208 Union membership, collective bargaining coverage and the trade union mark-up for Britain***by*Blackaby, D. H. & Murphy, P. D. & Sloane, P. J.**209-212 Does advance notice facilitate better job matches?***by*Addison, John T. & Portugal, Pedro**213-218 Job requirements and the recruitment of new employees***by*van Ours, Jan & Ridder, Geert**219-222 Dynamic labor demand with dual labor markets***by*Saint-Paul, Gilles**223-226 City-suburb socioeconomic differences: evidence from the 1940 and 1950 census public use samples***by*Margo, Robert A.

### 1991, Volume 36, Issue 1

**1-3 Oligopolistic competition among groups***by*Corchon, Luis C.**5-8 Who benefits from large rebates: Manufacturer, retailer or consumer?***by*Gerstner, Eitan & Hess, James D.**9-15 Can evolutionary dynamics explain free riding in experiments?***by*Miller, John H. & Andreoni, James**17-20 Resolving open questions on the [lambda]*-envy free criterion***by*Kolpin, Van**21-24 On the rebustness of perfect equilibrium in fixed cost sequential bargaining under an isomorphic transformation***by*Weg, Eythan & Zwick, Rami**25-29 Stable matchings and equilibrium outcomes of the Gale-Shapley's algorithm for the marriage problem***by*Zhou, Lin**31-35 Optimal growth under uncertainty***by*Russell, C. L.**37-41 The power of the Durbin-Watson test when the errors are heteroscedastic***by*Giles, David E. A. & Small, John P.**43-48 Estimation of technical inefficiency in panel data models with firm- and time-specific effects***by*Kumbhakar, Subal C.**49-54 A note on computing r-squared and adjusted r-squared for trending and seasonal data***by*Wooldridge, Jeffrey M.**55-60 A note on the stationarity of the primary commodities relative price index***by*Helg, Rodolfo**61-66 Why did so many savings and loans go bankrupt?***by*Williams, Michael A. & de Silva, Harindra & Koehn, Michael F. & Ornstein, Stanley I.**67-70 The irrelevance of detail in and computable general equilibrium model***by*Fox, Tyler & Fullerton, Don**71-76 Intra-industry trade and protection : Which way does the causation go?***by*Ratnayake, Ravindra & Jayasuriya, Sisira**77-79 Real exchange rates and divisia moments of world trade***by*Manzur, Meher & Dongling, Chen & Clements, Kenneth W.**81-85 Measuring the impact of research and development on technological change : An application of Basmann-Hayes-Slottje's approach***by*Andrikopoulos, Andreas A. & Brox, James A.**87-91 The impact of unionism on fringe benefit coverage***by*Even, William E. & Macpherson, David A.**93-97 Statistical discrimination and competitive signalling***by*Haagsma, Rein**99-103 Expectations on pension schemes under non-stationary conditions***by*Verhoeven, Marijn J. M. & Verbon, Harrie A. A.**105-111 The Lorenz curve and the mobility function***by*Basmann, R. L. & Hayes, K. J. & Slottje, D. J.**113-117 Are unemployment and out of the labor force behaviorally distinct labor force states? : New evidence from the gross change data***by*Tano, Doki K.

### 1991, Volume 35, Issue 4

**349-353 Coincidence probabilities for simple majority and proportional lottery rules***by*Gehrlein, William V.**355-358 Finite complexity and the folk theorem in repeated games***by*Chakrabarti, Subir K.**359-363 Discretion in reporting managerial performance***by*Dye, Ronald A. & Magee, Robert P.**365-371 Optimal inspection interval in a search model***by*Hahm, Sangmoon**373-377 Optimum subsidies for education in two-sector economies***by*Kang, Johan Moonwon**379-383 Psychological features affecting valuation of life***by*Savage, Ian**385-390 Dynamic efficiency of steady-state equilibria in an overlapping-generations model with productive capital***by*Galor, Oded & Ryder, Harl E.**391-395 Impatience, impoverishment and risk***by*Powell, John**397-400 Inflation--unemployment choices in New Zealand and the median voter theorem***by*Smyth, David J. & Woodfield, Alan E.**401-407 The locally unbiased two-sided Durbin--Watson test***by*Grose, Simone D. & King, Maxwell L.**409-413 Are different vintages of data on the components of GDP co-integrated? : Some evidence for the United Kingdom***by*Patterson, K. D. & Heravi, S. M.**415-421 Optimal maturity of nominal government debt : The first tests***by*Calvo, Guillermo A. & Guidotti, Pablo E. & Leiderman, Leonardo**423-428 Distributional considerations of producers' profit in a commodity tax design problem***by*Iwamoto, Yasushi & Konishi, Hideo**429-433 Capital inflows and economic welfare for a small open economy with variable returns to scale***by*Ishikawa, Jota**435-439 Estimates of a traditional aggregate import demand model for five countries***by*Asseery, A. & Peel, D. A.**441-444 The formation of stock return volatility expectations after the 1987 stock market crash***by*Levy, Haim & Yoder, James**445-449 Capital depreciation, shadow prices, and financial asset values***by*Chirinko, Robert S.**451-455 Testing the warrant pricing model***by*Lim, Kian-Guan & Phoon, Kok-Fai**457-460 Using an upper bound on stand-alone cost in tests of cross subsidy***by*Palmer, Karen**461-464 Involuntary part-time employment : Cyclical behavior and trend over 1968-1987***by*Ratti, Ronald A.**465-468 An inequality interpretation of the degree of dependence among inputs, outputs, and consumer goods***by*Theil, Henri

### 1991, Volume 35, Issue 3

**233-237 Hypergraph conflict analysis***by*van Gastel, M. A. J. J. & Paelinck, J. H. P.**239-242 The value of public information in majority decisions***by*Gersbach, Hans**243-248 Protecting the winner : Second-price versus oral auctions***by*Engelbrecht-Wiggans, Richard & Kahn, Charles M.**249-252 Asymmetric bidding in second-price, common-value auctions***by*Harstad, Ronald M.**253-256 On the theory of repeated games with private information : Part I: anti-folk theorem without communication***by*Matsushima, Hitoshi**257-261 On the theory of repeated games with private information : Part II: revelation through communication***by*Matsushima, Hitoshi**263-266 The disparity between willingness to pay and compensation demanded : Another look at laboratory evidence***by*Singh, Harinder**267-271 Communication and superior cooperation in two-player normal form games***by*Watson, Joel**273-277 Unit roots and seasonal unit roots in macroeconomic time series : Canadian evidence***by*Lee, Hahn Shik & Siklos, Pierre L.**279-284 Identifying and estimating efficient markets models with contemporaneous instruments***by*Ambler, Steve**285-290 Over-rejections in rational expectations models : A non-parametric approach to the Mankiw-Shapiro problem***by*Campbell, Bryan & Dufour, Jean-Marie**291-295 Extensions of the Hansen-Sargent prediction formulas to sampled and aggregated data***by*Kasa, Kenneth**301-305 Economic determinants of trading volume in futures markets***by*Malliaris, A. G. & Urrutia, Jorge L.**307-310 The relationship between on-budget and off-budget government***by*Joulfaian, David & Marlow, Michael L.**311-315 Testing the endogeneity of tariff policy in the U.S. : Further evidence***by*Bohara, Alok K. & Kaempfer, William H.**317-322 Some evidence on the efficiency of the sterling-dollar and sterling-franc forward exchange rates in the interwar period***by*Byers, J. D. & Peel, D. A.**323-326 Innovation, firm size and corporate finance : An initial inquiry***by*Acs, Zoltan J. & Isberg, Steven C.**327-332 Taxable and tax-exempt interest rates : The link with inflation***by*Hein, Scott E. & Mercer, Jeffrey M.**333-338 The impact of asymmetric information on entry deterrence: An example***by*Mailath, George J.**339-342 Are new firms an important source of innovation? : Evidence from the PC software industry***by*Prusa, Thomas J. & Schmitz, James Jr.**343-348 Labor force participation in an LDC***by*Canlas, Dante B.

### 1991, Volume 35, Issue 2

**117-122 Bubbles and inefficiencies***by*Bertocchi, Graziella**123-129 On the specification of accelerator coefficients in dynamic factor demand models***by*Prucha, Ingmar R. & Ishaq Nadiri, M.**131-136 Government purchases and real interest rates with endogenous time preference***by*Devereux, Michael B.**137-141 Human capital investment in wealth-constrained families with two-sided altruism***by*Rangazas, Peter**143-147 The important econometric features of a linear regression model with cross-correlated random coefficients***by*Conway, Karen Smith & Kniesner, Thomas J.**149-153 Artificial regressions and C ([alpha]) tests***by*Davidson, Russell & MacKinnon, James G.**155-160 On the power of Dickey-Fuller tests against fractional alternatives***by*Diebold, Francis X. & Rudebusch, Glenn D.**161-165 Instrument choice and tests for a unit root***by*Hall, Alastair & Hassett, Kevin**167-171 Efficiency bound calculations for a time series model, with conditional heteroskedasticity***by*Heaton, John C. & Ogaki, Masao**173-177 On BLU-estimation with data of different periodicity***by*Lucke, Bernd**179-185 Generalized instrumental variables estimation of autoregressive conditional heteroskedastic models***by*Rich, Robert W. & Raymond, Jennie & Butler, J. S.**187-191 On Wiener-Granger causality, information and canonical correlation***by*Otter, Pieter W.**193-199 Simple rules to order irreversible income alternatives sequentially***by*Olsen, Trond E. & Stensland, Gunnar**201-207 The Marshall-Lerner condition reconsidered***by*Ide, Toyonari & Takayama, Akira**209-214 On the instability of financial patterns of failed firms and the predictability of corporate failure***by*Martikainen, Teppo & Ankelo, Timo**215-219 Debt-equity choice under asymmetric information and taxes***by*Kale, Jayant R. & Noe, Thomas H.**221-226 The predictive power of January returns in foreign and domestic markets***by*Chang, Eric C. & Pinegar, J. Michael**227-231 Market structure and the empirical specification of profit margins***by*Conyon, M. & Machin, S.

### 1991, Volume 35, Issue 1

**1-4 Finitely optimal allocation in countably large-square exchange economies***by*Laine, Jean**5-8 Uninformed customers and nonprofit organization : Modelling 'contract failure' theory***by*Chillemi, Ottorino & Gui, Benedetto**9-16 Why real wages do not fall when there is unemployment***by*Holmes, James M. & Dowd, Mike & Black, David C.**17-20 Moral hazard and cooperation***by*Macho-Stadler, Ines & Perez-Castrillo, J. David**21-25 On hoarding in contract theory***by*Yaari, Varda (Lewinstein)**27-30 Equilibrium misperceptions***by*Gaynor, Martin & Kleindorfer, Paul**31-33 A note on testing for switching regressions***by*Phillips, Robert F.**39-44 Factoring spectral matrices in linear-quadratic models***by*Ball, J. A. & Taub, B.**45-50 A random coefficient qualitative choice model of telecommunications demand : Results and conjectures***by*Gatto, Joseph & Kelejian, Harry & Stephan, Scott**51-56 Positioning banks for acquisitions : A research note***by*Prasad, Rose M. & Melnyk, Z. Lew**57-61 Optimal public good provision in the Ramsey tax model : A generalization***by*Douglas Wilson, John**63-70 Target zone exchange rate***by*Razzak, W. A.**71-78 Taxation of foreign capital and the optimum tariff***by*Tsaur, Tien-wang & Chu, Mei-Lie**79-84 Exchange rate pass-through : The case of Korean exports of manufactures***by*Athukorala, Premachandra**85-88 Price elasticities for residential demand for telephone calling time : An estimate on Swedish data***by*Lang, Harald & Lundgren, Stefan**89-93 The role of employers' authority when jobs are partially enforceable***by*Mori, Pier Angelo**95-98 The relative effects of unemployment insurance parameters on search strategy***by*Hotchkiss, Julie L.**99-103 Investment, profit-sharing and the degree of centralization***by*Palokangas, Tapio**105-110 Cross-sectional versus panel estimates of union wage effects : Evidence from PSID***by*Wunnava, Phanindra V. & Okunade, Albert A.**111-116 An error correction system for integrated consumption and portfolio allocation decisions***by*Patterson, K. D.

### 1990, Volume 34, Issue 4

**311-316 Minimal cooperation in bargaining***by*Chun, Youngsub**317-321 Additive non-transitive preferences***by*Fishburn, Peter C.**323-328 A multiple-object auction with superadditive values***by*Gale, Ian**329-332 Contractual delay and efficiency in delegation games : Two-principal case***by*Kambe, Shinsuke & Matsushima, Hitoshi**333-337 Shock persistence and the measurement of prewar output series***by*Jaeger, Albert**339-343 Testing for the correct error term distribution : A simple two-step test***by*Hofler, Richard A. & Spector, Lee C.**345-350 Some evidence on the accuracy of Phillips-Perron tests using alternative estimates of nuisance parameters***by*Kim, Kiwhan & Schmidt, Peter**351-356 Does correcting for heteroscedasticity help?***by*Mishkin, Frederic S.**357-361 Tax arbitrage and the redistributive properties of progressive income taxation***by*Agell, Jonas & Persson, Mats**363-368 Entering a preannounced currency band***by*Ichikawa, Masaki & Miller, Marcus & Sutherland, Alan**369-373 Optimality of coupon-bearing debt under asymmetric information***by*De, Sankar & Kale, Jayant R.**375-379 The fleeting effect of advertising : Empirical evidence from a case study***by*Boyd, Roy & Seldon, Barry J.**381-385 The effect of conviction on the legitimate income of criminals***by*Lott, John Jr.**387-391 Further evidence on the job search theory***by*Groot, Wim

### 1990, Volume 34, Issue 3

**205-209 Second-best subsidies in monopolistic competition***by*Costrell, Robert M.**211-214 Market power and the institutional asymmetry of the posted offer trading institution***by*Davis, Douglas D. & Williams, Arlington W.**215-220 Optimal sales to users who hold inventory***by*Glazer, Amihai & Hassin, Refael**221-226 Monotonicity of solutions in certain dynamic cooperative games***by*Rosenthal, Edward C.**227-229 On the non existence of envy-free and egalitarian-equivalent allocations in economies with indivisibilities***by*Thomson, William**231-235 Consumption and asset returns under non-expected utility : Some new evidence***by*Bufman, Gil & Leiderman, Leonardo**237-239 Revelation in informational dynamic settings***by*Verde, Roberto Burguet**241-244 Is the Allais paradox robust to a seemingly trivial change of frame?***by*Carlin, Paul S.**245-248 Long-term partnership in a repeated prisoner's dilemma with random matching***by*Matsushina, Hitoshi**249-253 A state space representation of sequential estimators***by*Ambler, Steve**255-259 Cointegration and I(0) measurement error bias***by*Fischer, Andreas M.**261-265 Bootstrap tests for generalized least squares regression models***by*Rayner, Robert K.**267-270 On the estimation of a fixed effects model with selectivity bias***by*Verbeek, Marno**271-275 Exchange rates and the trade balance : Some evidence from developing countries***by*Rose, Andrew K.**277-283 Market structure, incentive to patent and the pace of innovation***by*Pil Choi, Jay**285-288 Non-permanent jobs and search theory***by*Van Ophem, Hans**289-294 Placement service and offer arrival rates***by*Ebmer, Rudolf**295-300 English language proficiency and the economic progress of immigrants***by*Rivera-Batiz, Francisco L.**301-306 Heterogeneous matching, mismatch and the macro U-V curve***by*Brunello, Giorgio

### 1990, Volume 34, Issue 2

**105-107 A note on the strategic transmission of endogenous information***by*De Groote, Xavier**109-112 Dominant strategy mechanisms with mutually payoff-relevant private information and with public information***by*Matsushima, Hitoshi**113-116 How big is the random walks in macroeconomic time series : Variance ratio tests***by*Malliaris, A. G. & Urrutia, Jorge L.**117-120 Seasonal unit-root tests on Canadian macroeconomic time series***by*Otto, Glenn & Wirjanto, Tony**127-129 GAITL: A generalised version of the almost ideal and translog demand systems***by*Bollino, Carlo Andrea & Violi, Roberto**131-135 Specification errors and the Chow test : An alternative view***by*Burrows, Peter M. & Cantrell, R. Stephen**137-141 The conditional logit estimator for unequal panels***by*Das, Sanghamitra**143-146 A computational algorithm for multiple equation models with panel data***by*Kinal, Terrence & Lahiri, Kajal**147-150 Choosing among multiple nonlinear non-nested regression models with different dependent variables : An application to money demand***by*Smith, Marlene A. & Smyth, David J.**151-155 A note on the Lagrange multiplier and F-statistics for two stage least squares regressions***by*Wooldridge, Jeffrey M.**157-162 The informational efficiency of the stock market : The international evidence of 1921-1930***by*Jeng, Chyong-Chiou & Butler, J. S. & Liu, Jin-Tan**163-168 Examining statistical differences between using returns and yields to maturity in bond market event studies***by*Swidler, Steve**169-173 The effect of federal deficits and debt on the tax-adjusted, short-term, real interest rate***by*Allen, Stuart D.**175-181 Do general and firm-specific employer payroll taxes have the same incidence? : Theory and evidence***by*Vaillancourt, Francois & Marceau, Nicolas**183-189 Tax-induced bias in forward rates, term premiums, and the term structure of interest rates***by*Kim, Seokchin**191-195 Male/female earnings differentials and the measurement of skills***by*Myatt, Antony & Murrell, David**197-202 Consumption and transitory income : An estimation on a panel of French data***by*Gardes, F. & Madre, J. L.

### 1990, Volume 34, Issue 1

**1-4 The global correspondence principle***by*Kemp, Murray C. & Kimura, Yoshio & Tawada, Makoto**5-9 A feasible Nash implementation of Walrasian equilibria in the two-agent economy***by*Nakamura, Shinsuke**11-14 Profit sharing and work sharing***by*Hart, R. A.**15-19 Impossibility results with resoluteness***by*Kelly, Jerry S. & Hall, Maxwell**21-25 Quantifying the Allais paradox : Risk aversion and eccentricity in weighted linear utility***by*Hess, James D. & Holthausen, Duncan Jr.**27-32 Preliminary-test estimation of the standard error of estimate in linear regression***by*Clarke, Judith A.**33-35 Cointegrating exogeneity***by*Hunter, J.**37-42 A chi-square test for a unit root***by*Kahn, James A. & Ogaki, Masao**43-48 CORE: For decision models under uncertainty***by*Ramamohan Rao, T. V. S. & Singh, Saraswati P.**49-53 Testing the replication hypothesis : When the data set is subject to gross error***by*Levy, David M. & Feigenbaum, Susan**55-59 A test of the arbitrage pricing theory using accounting information***by*Martikainen, Teppo & Yli-Olli, Paavo**61-65 Tax-based incomes policies and productivity deals***by*Johnes, Geraint**67-71 Export composition and the impact of exports on economic growth of developing economies***by*Fosu, Augustin Kwasi**73-75 Unions, taxes and the structure of multinational enterprises***by*Huizinga, Harry**77-82 An empirical analysis of a firm's decision to franchise***by*Minkler, Alanson P.**83-88 Estimating seat belt effectiveness with seat belt usage data from the Centers for Disease Control***by*Garbacz, Christopher**89-92 Labor supply, unemployment benefits in an open economy model of interwar Britain***by*Sen, Partha**93-97 An international comparison of sector wage differentials***by*Wagner, Joachim**99-104 On the penalties for unfair labor practices : An econometric analysis***by*Das, Sanghamitra

### 1990, Volume 33, Issue 4

**301-308 Variable returns to scale and the global correspondence principle in the theory of international trade***by*Ide, Toyonari & Takayama, Akira**309-314 A time-varying model of rational learning***by*Margaritis, Dimitris**315-317 Transitivity and consistency***by*Baigent, Nick**319-323 Common agency with adverse selection : Existence, uniqueness, and efficiency of separation equilibrium***by*Berkok, Ugurhan G.**325-328 Steady-state productivity relationships : Estimation and some implications***by*Byers, J. D.**329-332 A simple test for exogeneity in probit, logit, and poisson regression models***by*Grogger, Jeffrey**333-336 Global asymptotic stability of non-linear difference : Equations with non-differentiable functions***by*Szidarovszky, Ferenc**337-340 On the decomposition and normalization of interindustry linkages***by*Clements, Benedict J.**341-345 A note on the efficiency of the London metal exchange***by*Sephton, Peter S. & Cochrane, Donald K.**347-351 Temporary trade taxes, welfare and the current account***by*Lopez, Ramon & Panagariya, Arvind**353-357 Efficiency wages and currency devaluation***by*Lai, Ching-chong**359-362 How mobile is capital in developing countries?***by*Ul Haque, Nadeem & Montiel, Peter J.**363-367 Optional time-of-use pricing can be pareto superior or pareto inferior***by*Mackie-mason, Jeffrey K.**369-373 A new test of the price-concentration relationship in grocery retailing***by*Newmark, Craig M.**375-383 Regulatory policies in markets for delicate medical procedures***by*Krishnan, Murugappa & Roller, Lars-Hendrik**385-388 Imperfect information and wage flexibility***by*Bell, Linda A. & Gerlach, Stefan**389-394 Quits, layoffs and contracts on sharing investments in specific human capital***by*Lam, Kit-Chun & Liu, Pak-Wai**395-399 Multivariate exogeneity tests and poverty : Some evidence on the perception of poverty***by*Hayes, Kathy & Slottje, D. J. & Nieswiadomy, Michael

### 1990, Volume 33, Issue 3

**203-206 Equilibrium in abstract economies with a non-compact infinite dimensional strategy space, an infinite number of agents and without ordered preferences***by*Tian, Guoqiang**207-210 The welfare implications of collusive duopoly***by*Rees, Ray**211-215 The inverse problem of asset price under non-expected utility***by*Wang, Susheng**217-222 A refinement and extension of the no-envy concept***by*Diamantaras, Dimitrios & Thomson, William**223-227 Principals and agents : Does the assignment of information matter?***by*Nelson, Julianne**229-232 On the regulation of procurement bids***by*Sinclair-Desgagne, Bernard**233-238 On debt neutrality in life-cycle models***by*Lopez-Garcia, Miguel-Angel