# Elsevier

# Economics Letters

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### 1987, Volume 25, Issue 4

**367-371 Pooled cross-section time-series examination of the effects of unemployment insurance compensation on unemployment rate and unemployment duration : Evidence from state data***by*Wunnava, Phanindra V. & Henley, John R.**373-377 Do unions discourage economic activity?***by*Heywood, John S. & Deich, Michael D.**379-384 A note on the estimation of Atkinson's index of inequality***by*Guerrero, Victor M.**385-388 An upper bound for wealth distribution in a model of accidental bequests***by*Sinha, Tapen**389-392 The design of reward structures in career games : A relative deprivation approach***by*Stark, Oded

### 1987, Volume 25, Issue 3

**201-206 On the architecture of complex organizations***by*Ioannides, Yannis M.**207-211 The consumption function under exponential utility : An extension***by*Lam, Pok-sang**213-216 Anticipatory pricing with negligible uncertainty***by*Seidmann, Daniel J.**217-220 The robustness of multidimensional signalling equilibria***by*Huang, Peter H.**221-224 Rationed and walrasian markets for the same good : A rational expectations determination of the relative prices***by*Katz, Barbara Goody & Owen, Joel**225-231 Inflation, indexation, and wage dispersion***by*Drazen, Allan & Hamermesh, Daniel S.**233-238 Inflation and the Euler equation approach to consumption behaviour : Some empirical evidence***by*Koskela, Erkki & Viren, Matti**239-242 Bounded-influence instrumental variables estimator : An extension***by*Furno, Marilena**243-247 Rejections of orthogonality in rational expectations models : Further Monte Carlo results for an extended set of regressors***by*Galbraith, John W. & Dolado, Juan & Banerjee, Anindya**249-254 Errors in variables in the multinomial response model***by*Kao, Chihwa & Schnell, John F.**255-258 Mean adjustment and the CUSUM test for structural change***by*Ploberger, Werner & Kramer, Walter**259-261 A Monte Carlo test of preference independence***by*Selvanathan, Saroja**263-265 Linear errors-in-variables models : Some performance tests on the polynomial IV estimator***by*Van Hoa, Tran**267-270 Audit probabilities and tax evasion in a business simulation***by*Webley, Paul**271-277 Sterilization policies in the EMS countries : An empirical analysis***by*Gasos, Pablo & Maennig, Wolfgang**279-282 Factor proportions and multinationals : Choice of technique or choice of industry?***by*Hill, Hal**283-288 On requiring the durable goods monopolist to sell***by*Malueg, David A. & Solow, John L.**289-294 Further evidence on the screening hypothesis***by*Cohn, Elchanan & Kiker, B. F. & De Oliveira, M. Mendes**295-298 Regional differences and the components of growth and inequality change***by*Berrebi, Z. M. & Silber, Jacques

### 1987, Volume 25, Issue 2

**101-104 The power function of a published hypothesis test***by*Denton, Frank T.**105-109 Location-price equilibria in a spatial model of discriminatory pricing***by*Kats, Amoz**111-116 Toward empirical applications of lie-group technical progress functions***by*Mitchell, Thomas M.**117-122 The policy ineffectiveness proposition : Some further tests***by*Darrat, Ali F.**123-126 Harberger versus Marshall : Approximating general equilibrium welfare changes***by*Smith, V. Kerry**127-130 Certainty equivalence in expected profit maximization implies impossibility of loss***by*Lau, Lawrence J. & Ma, Barry K.**131-135 A note on inducing cooperation by reciprocative strategy***by*Lien, Da-Hsiang Donald**137-142 The effects of expected inflation on real returns in the argentine indexed bond market***by*Boschen, John F. & Newman, John L.**143-148 Efficient 'myopic' asset pricing in general equilibrium : A potential pitfall in excess volatility tests***by*Buiter, Willem H.**149-153 On the specification of granger-causality tests using the cointegration methodology***by*MacDonald, Ronald & Kearney, Colm**155-160 On some global properties of Gorman class demand systems***by*Heineke, J. M. & Shefrin, H. M.**161-166 When marginal-cost pricing is the expected second-best***by*Jones, Robert A. & Southey, Clive**167-171 The impact of tax-deductible saving on dynamic efficiency***by*Daly, Michael J. & Naqib, Fadle**173-176 In search of industry effects of large conglomerate mergers***by*Feinberg, Robert M.**177-182 A tax cum subsidy regulatory alternative for controlling pollution : Insights from thinking about acid rain***by*Yohe, Gary & MacAvoy, Paul**183-189 Poverty trap and the hidden labor market***by*Fortin, Bernard & Hung, Nguyen M.**191-195 Screening unemployment in a dual labor market***by*Jones, Stephen R. G.**197-200 Union membership and employment dynamics***by*Jones, Stephen R. G.

### 1987, Volume 25, Issue 1

**1-2 Investment demand under log-linear technology***by*El Hodiri, Mohamed A.**3-7 Exact aggregation when prices are variable across individuals***by*Lau, Lawrence J. & Wu, Ho-mou**9-13 Observational equivalence of the overlapping-generations and the cash-in-advance economies***by*Huo, Teh M.**15-19 The Ricardian equivalence hypothesis : Some Canadian evidence***by*Koray, Faik & McMillin, W. Douglas**21-25 State-dependent SSB utility***by*Fishburn, Peter C. & Lavalle, Irving H.**27-30 A survey measure of risk aversion***by*Montmarquette, Claude & Blais, Andre**31-34 Financial repression and the relative price of non-traded goods***by*Feldman, David H. & Gang, Ira N.**35-38 Inventory investment in the United States, 1920-1941***by*Smyth, David J.**39-41 Relationships among estimators of triangular econometric models***by*Garen, John E.**43-46 Testing overidentifying restrictions with inefficient estimators***by*Hylton, Keith**47-49 Testing regression models for random effects outliers under elliptical symmetry***by*McCabe, B. P. M.**51-53 On an extension of the Gale-Nikaido-Debreu lemma***by*Florenzano, Monique**63-66 Monetary policy and short-term interest rates : New evidence on the liquidity effect***by*Hardouvelis, Gikas A.**67-70 Dynamic stability under a dual exchange rate regime with neutral intervention operations***by*Lai, Ching-chong & Chang, Wen-ya**71-74 The efficiency of the forward exchange market : Some evidence for the pound sterling-US dollar exchange rate using residuals from the LUS class***by*McAvinchey, I. D. & MacDonald, R.**75-78 Speculative attacks on the currency with uncertain monetary policy reactions***by*Willman, Alpo**79-84 The impact of regulation on the riskiness of electric utilities***by*Ferris, Stephen P. & Makhija, Anil K.**85-89 Output price indices for regulated monopoly***by*Reece, William S. & Zieschang, Kimberly D.**91-94 The nature of unemployment in segmented labor markets***by*Demekas, Dimitrios G.**95-99 A musical note on the efficiency wage hypothesis : Programmings, wages and budgets of American symphony orchestras***by*Ito, Takatoshi & Domian, Dale

### 1987, Volume 24, Issue 4

**305-309 A product differentiation model with outside goods and price bargaining***by*Kim, Sunwoong**311-315 The proportion of coalitionally unstable situations under the plurality rule***by*Lepelley, Dominique & Mbih, Boniface**317-320 Rawlsian distributive justice and rights***by*Mezzetti, Claudio**321-326 Risk aversion and the Nash solution in stochastic bargaining experiments***by*Harrison, Glenn W.**327-329 Price regulation in insurance markets with asymmetric information***by*Henriet, Dominique & Rochet, Jean-Claude**331-334 Soviet postwar industrial growth and capital labour substitution : An empirical note***by*Bairam, E.**335-338 Monetary deregulation and inverting the inverted fisher effect***by*Placone, Dennis & Wallace, Myles S.**339-342 Errors in variables in a random-effects probit model for panel data***by*Kao, Chihwa & Schnell, John F.**343-347 Generalized inverses and asymptotic properties of Wald tests***by*Vuong, Quang H.**349-352 On the existence and uniqueness of value functions in models of labor market dynamics***by*Sharma, Sunil**353-358 Tax exporting and the marginal cost of public spending***by*Wildasin, David E.**359-362 New indices of segregation***by*Butler, Richard J.**363-367 U.S. bilateral trade balances and the dollar***by*Cushman, David O.**369-372 Monitoring structural changes within the wholesale and retail trades***by*Attaran, Mohsen & Guseman, Dennis**373-379 Interpreting sample selection effects***by*Dolton, P. J. & Makepeace, G. H.**381-384 Market estimates of worker dislocation costs***by*Anderson, Donald W. & Chandran, Ram V.**385-389 A new index of income inequality : The B measure***by*Basmann, R. L. & Slottje, D. J.

### 1987, Volume 24, Issue 3

**207-211 Non-trivial subgame perfect duopoly equilibria can be supported by continuous reaction functions***by*Samuelson, Larry**213-218 Consistent preferences and the allocation of effort under uncertainty : The case of risk-averse behavior***by*Sproule, Robert A.**219-222 Consumption of non-durables and durables : An empirical note***by*Kugler, P. & Bossard, A.**223-226 A hicksian link between inflation and the term structure***by*Honohan, Patrick**227-230 An alternative measure of random walk components in time series***by*Aoki, Masanao**231-235 Testing for unit roots : An empirical investigation***by*Downes, A. S. & Leon, H.**237-242 Hypothesis testing in regression models with AR(1) errors and a lagged dependent variable : Bootstrapping and artificial regression compared***by*Prescott, D. & Stengos, T.**243-247 Demand uncertainty, price-fixing firms, and parameter estimation***by*Ramamohan Rao, T. V. S. & Singh, Saraswati P.**249-252 A note on the power of least squares tests for a unit root***by*West, Kenneth D.**253-256 A compact space of transitive locally non-satiated preference relations***by*Back, Kerry**257-259 Testing the autoregressive process of a cross-country demand system against a higher-order alternative***by*Chung, Ching-Fan & Theil, Henri**261-265 Income Elasticities at different price vectors***by*Theil, Henri & Seale, James Jr.**267-271 A new perspective on price indices***by*Van der Meer, Tjemme**273-277 Sensitivity of optimal commodity taxes to relaxing leisure/goods separability and to the wage rate***by*Murty, M. N. & Ray, Ranjan**279-285 Coordination of optimal taxation in a two-country equilibrium model***by*van der ploeg, F.**287-290 Politically realistic objective functions and trade policy PROFs and tariffs***by*Baldwin, Richard**291-293 Are foreign exchange forecasts rational? : An empirical note***by*Avraham, David & Ungar, Meyer & Zilberfarb, Ben-Zion**295-298 Intercountry inequalities in income and 'index of net social progress' : Evidence from recent data***by*Ram, Rati**299-303 An econometric model for the simultaneous estimation of the demand for medical care and the demand for health insurance : A first approach***by*Van De Ven, Wynand P. M. M.

### 1987, Volume 24, Issue 2

**107-111 Bargaining and the evolution of cooperation in a dynamic game***by*Benhabib, Jess & Ferri, Giovanni**113-116 A note on risk aversion and multivariate, state-dependent preferences***by*Elliot, Catherine S.**117-120 Testing the continuity of individual bid density functions : Some further results***by*Hoffman, Elizabeth & Marsden, James R. & Saidibaghgandomi, Reza**121-125 Uncertain lifetime and ordinal impatience***by*Peck, Richard M. & Srinagesh, Padamanbhan**127-131 On the multiplicity of perfect equilibria in a dynamic oligopoly***by*Thepot, Jacques J.**133-137 Egalitarianism and equilibrium output in producer cooperatives***by*Nitzan, Shmuel & Schnytzer, Adi**139-140 The CES is a discrete choice model?***by*Anderson, Simon P. & De Palma, Andre & Thisse, Jacques-Francois**141-144 Inequalities for LR, W, and LM statistics***by*Magee, Lonnie**145-149 Exact likelihood function for a regression model with MA(1) errors***by*Valls Pereira, Pedro L.**151-155 An improved single equation estimation procedure for rational expectations models***by*Power, Simon**157-160 Asymptotic distribution of Durbin-Watson statistic***by*Srivastava, M. S.**161-163 Aids, translog, and the Gorman polar form***by*Lewbel, Arthur**165-169 Beliefs and arbitrage pricing***by*Jarrow, Robert**171-175 Market share and efficiency : A reprise***by*Heywood, John S.**177-180 Industrial structure and export subsidy as trade policies in an oligopoly with a U-shaped average cost curve***by*Tanaka, Yasuhito**181-185 Consistency of conjectures and reactions?***by*De Zeeuw, Aart J. & Van Der Ploeg, Frederick**187-190 Estimating total factor productivity in a generalized cost system***by*Israilevich, Philip & Kowalewski, Kim J.**191-196 The pricing of a metal output obtained from multigrade ore deposits***by*Hung, N. M. & Nguyen, T. H.**197-201 Public debt and demographic growth in an overlapping generations model***by*Lopez-Garcia, Miguel-Angel**203-206 Bootstrapping the autoregressive structure of cross-country demand systems***by*Chung, Ching-Fan & Seale, James Jr. & Theil, Henri

### 1987, Volume 24, Issue 1

**1-4 Sufficient conditions for equivalence of ex ante unanimity propositions : A note***by*Van Hulle, C.**5-9 Bargaining games with a random sequence of who makes the offers***by*Hoel, Michael**11-17 A note on long-term contracts***by*Ito, Takatoshi**19-25 Interest rates and inflation in the frequency domain New evidence***by*Barthold, Thomas A. & Dougan, William R.**27-32 Do we reject rational expectations models too often? : Interpreting evidence using Nagar expansions***by*Banerjee, Anindya & Dolado, Juan**33-38 A tractable likelihood function for the normal-gamma stochastic frontier model***by*Beckers, Dominique E. & Hammond, Christopher J.**39-44 Bayes prediction in the linear model with spherically symmetric errors***by*Jammalamadaka, S. Rao & Tiwari, Ram C. & Chib, Siddhartha**45-49 Errors in variables in panel data with a binary dependent variable***by*Kao, Chihwa & Schnell, John F.**51-55 Inadmissibility of the iterative Stein-rule estimator of the disturbance variance in a linear regression***by*Ohtani, Kazuhiro**57-61 Prediction mean square error for non-stationary multivariate time series using estimated parameters***by*Reinsel, Gregory C. & Lewis, Richard A.**63-67 The size bias of White's information matrix test***by*Taylor, Larry W.**73-77 Strategic and non-competitive trade interventions***by*Grinols, Earl L.**79-82 More on the non-equivalence of voluntary export restraints***by*Mendez, JoseA.**83-87 The Stolper-Samuelson theorem under decreasing returns to scale***by*Ylonen, Sakari**89-92 Industrial policy and U.S.-Japanese trade***by*Audretsch, David B. & Yamawaki, Hideki**93-97 The Coase conjecture need not hold for durable good monopolies with depreciation***by*Bond, Eric W. & Samuelson, Larry**99-105 Explaining and predicting airline yields with non-parametric regression trees***by*Williams, Michael A. & Joskow, Andrew S. & Johnson, Richard L. & Hurdle, Gloria J.

### 1987, Volume 23, Issue 4

**311-315 On monopolistic competition and the equilibria of non-tatonnement processes***by*Saldanha, Fernando M. C. B.**317-322 Monopolistic competition and the stability of industrial equilibrium***by*Chao, Chichur & Takayama, Akira**323-328 The role of indifference in sequential models of spatial competition : An example***by*Dewatripont, Mathias**329-334 On the concepts of returns to scale***by*Ide, Toyonari & Takayama, Akira**335-339 Organizational decision-making quality and the severity of the free-riding problem***by*Gradstein, Mark & Nitzan, Shmuel**341-342 A note on the monotonicity of Vn***by*Lehrer, Ehud**343-347 Auctions with entry***by*McAfee, R. Preston & McMillan, John**349-353 Moment preferences and polynomial utility***by*Muller, Sigrid M. & Machina, Mark J.**355-357 The minimum cost spanning forest game***by*Rosenthal, Edward C.**359-364 How did households interpret chernobyl? : A bayesian analysis of risk perceptions***by*Smith, V. Kerry & Michaels, R. Gregory**365-369 On the periodicity of solutions to dynamic problems of costly price adjustment under inflation***by*Zinde-Walsh, Victoria**371-374 Measuring the distance between relative price vectors of different countries***by*Theil, Henri & Seale, James Jr.**375-379 Trade taxes and subsidies with imperfect competition***by*Jones, Ronald W.**381-386 Monetary versus real exchange rate targets when capital mobility is limited***by*Penati, Alessandro**387-388 Inequality of income derived from survey data during the inflationary period***by*Kakwani, Nanak**389-392 On a simple transfer-sensitive index of inequality***by*Subramanian, S.

### 1987, Volume 23, Issue 3

**217-221 Locally consistent oligopolistic equilibria are Cournot-Walras equilibria***by*Gary-Bobo, Robert J.**223-228 Price and quantity controls as facilitating devices***by*Eichberger, Jurgen & Harper, Ian**229-232 Rebates, introductory sales and the Coase conjecture***by*Gale, Ian**233-237 Finite rationalizability and cooperation in the finitely repeated Prisoners' Dilemma***by*Harrington, Joseph Jr.**239-244 Bidding behavior in first price sealed bid auctions : Use of computerized Nash competitors***by*Walker, James M. & Smith, Vernon L. & Cox, James C.**245-249 Efficiency wages in Weitzman's share economy***by*Levine, David**251-256 A note on non-periodic demoeconomic fluctuations with positive measure***by*Day, Richard H. & Kim, Kyoo-Hong**257-262 Multiple Cause Model with autocorrelated errors : A gain in efficiency analysis***by*Shrestha, Keshab**263-267 The informational gain from Stein and hierarchial Stein estimators***by*Van Hoa, Tran**269-274 Elliptical regression operationalized***by*Wesselman, A. M. & Van Praag, B. M. S.**275-277 Global asymptotic stability of non-linear difference equations II***by*Fujimoto, Takao**279-284 Non-recursive methods for computing the coefficients of the autoregressive and the moving-average representation of mixed ARMA processes***by*Mittnik, Stefan**285-288 The impact of usury ceilings on revolving credit***by*Villegas, Daniel J.**289-293 Do the foreign exchange rates really follow a random walk? : An empirical question revisited***by*Kim, Benjamin J. C.**295-299 External sources of technical knowledge***by*Link, Albert N. & Zmud, Robert W.**301-304 An analysis of non-insurance work incentives***by*Drago, Robert & Turnbull, Geoffrey K.**305-309 Asymmetric information and multi-stage brain drain***by*Lien, Da-Hsiang Donald

### 1987, Volume 23, Issue 2

**119-123 A convergent price adjustment process***by*Van Der Laan, G. & Talman, A. J. J.**125-128 Non-linear pricing and the law of demand***by*Jones, C. Vaughan**129-133 Uncontrolled prices on a market with supply control***by*Herrmann, Roland**135-138 International trade and the possible occurrence of chaos***by*Lorenz, Hans-Walter**139-145 Does GNP have a unit root? : A re-evaluation***by*Perron, Pierre & Phillips, Peter C. B.**147-151 Modeling finitely-repeated games with uncertain termination***by*Basu, Kaushik**153-156 Asymmetric information in competitive bribery games***by*Lien, Da-Hsiang Donald**157-161 Strong convergence of least squares learning to rational expectations***by*Margaritis, Dimitris**163-165 Life-cycle saving and dissaving in retirement***by*Mirer, Thad**167-171 Time consistent commitments of intermediate duration***by*Jones, Michael**173-176 On the misuse of forecast errors to distinguish between level and first difference specifications***by*Goldfeld, Stephen M. & Sichel, Daniel E.**177-179 The determination of the state covariance matrix of moving-average processes without computation***by*Mittnik, Stefan**181-184 Negative conjectures and increased public good provision***by*Shogren, Jason F.**185-188 Domestic export subsidy and foreign welfare***by*Mai, Chao-cheng & Hwang, Hong**189-192 The demand for international reserves in a regime of floating exchange rates : Some empirical evidence***by*MacDonald, Ronald**193-197 Hospital scale economies due to stochastic demand and service***by*Mulligan, James G.**199-202 Gaids: a generalised version of the almost ideal demand system***by*Bollino, Carlo Andrea**203-207 A new concept of Lorenz domination***by*Moyes, Patrick**209-212 Extending the sample size in cross-country demand analysis***by*Seale, James Jr. & Theil, Henri**213-216 A superior measure of consumption from the panel study of income dynamics***by*Skinner, Jonathan

### 1987, Volume 23, Issue 1

**1-4 An economy with infinite dimensional commodity space and empty core***by*Aliprantis, C. D. & Burkinshaw, O. & Brown, D. J.**5-7 A note on the existence of Pareto optima in topological vector spaces***by*Araujo, A.**9-14 Intertemporal benefit functions***by*Carey, Malachy & Littlechild, S. C.**15-18 Weakly lower demicontinuous preference maps***by*Mehta, Ghanshyam**19-21 Comparative statics for integrable Nash equilibria***by*Stutzer, Michael J.**23-29 Welfare-improving changes in size distributions of income***by*Harrison, Alan & Papageorgiou, Yorgos Y.**31-36 Further empirical evidence on popularity and electoral cycle effects***by*Peel, D. A. & Jones, D.**37-41 The futures price of a commodity in fixed supply***by*Eldor, Rafael & Pines, Daniel**43-48 Advance production in oral double auction markets***by*Mestelman, Stuart & Welland, Douglas**49-52 Variability of price changes in OECD member countries***by*Leser, C. E. V.**53-57 Estimation of disequilibrium and limited dependent variable models with serially dependent residuals***by*Robinson, P. M.**59-64 On least squares estimation with a particular linear function of the dependent variable***by*Stahlecker, Peter & Schmidt, Karsten