THE IMPACT OF DEREGULATION ON THE PRODUCTION STRUCTURE OF THE MOTOR CARRIER INDUSTRY

Empirical analysis of the motor carrier industry pre- and post-regulatory reform reveals that deregulation resulted in significant changes in firm production structure and lower real average costs. Translog cost functions for firms operating in 1977 and 1983 were estimated and compared for "other specialized commodity" carriers. Fitted average costs were computed from these functions. The results indicate significant differences in the cost functions and real costs that cannot be attributed to technological changes but rather suggest efficiency gains. The results also suggest that it is inappropriate to predict outcomes of deregulation using empirical analyses of firms in the regulated environment.     

THE IMPACT OF TRADE COSTS ON FIRM ENTRY,EXPORTING, AND SURVIVAL IN KOREA

This study examines how changes in trade costs have affected entry, exit, productivity, and exporting in the Korean manufacturing sector. We verify several predictions of heterogeneous‐firm models of international trade. For example, falling import‐trade costs are associated with less entry and lower market shares among existing domestic firms, and higher total factor productivity for Korean manufacturing as a whole. The size of firms plays an important role in many of our results. New domestic firms are more likely to be small, but large firms are less likely to exit and more likely to have an increase in total factor productivity. (JEL F10, D24)     

THE IMPACT OF OWI ON BROADCASTING

A MARKED difference between the public opinion situation facinginformation specialists in this war and that in 1917 is thefact that during the last twenty-five years radio has come ofage. Never before have governments had available for use suchan important instrument of propaganda. Has the OWI taken fulladvantage of its potentialities? Mr. Landry was asked to appraiseAmerica's use of this weapon since Pearl Harbor. For ten years the author has been observing American radio fromthe platform of the radio editorship of Variety. He has listenedto and analyzed thousands of radio broadcasts. At present heis director of program writing for CBS and also a member ofthe Writers War Board.     

THE IMPACT OF PEER PRESENCE ON CHEATING

Recent research has shown that the presence of peers can increase individual output both in the lab and the field. This paper tests for negative side effects of such peer settings. We investigate whether peer settings are particularly prone to cheating even if they do not provide additional monetary benefits of cheating. Participants in our real‐effort experiment had the opportunity to cheat when declaring their output levels. Although cheating did not have different monetary consequences when working alone than when working in the presence of a peer, we find that cheating is a more severe problem in peer settings.(JEL J20, J30, M50)     

THE IMPACT OF FISCAL POLICY ON PROFITS

This paper investigates the impact of fiscal policy on profits using panel data for 18 high‐income OECD countries during the period 1975–1999. We estimate a profit equation allowing a consistent treatment of the government budget constraint, and we try to disentangle the effects of different spending and taxation items. As far as public spending is concerned, our results strongly suggest that capital expenditures are associated with higher profits, while expenditures on goods and services and in particular on wages and salaries deteriorate profits. In general, “productive” expenditures seem to increase profits while the effect of “unproductive” expenditures is insignificant. Transport and communication expenditures seem to have a positive impact on profits. On the revenue side, we find that both direct and indirect taxation has a negative impact on profits. (JEL E62, H32, H54)     

THE IMPACT OF SKILL ON UNION MEMBERSHIP:

A worker's occupation and industry position in the economy primarily determine gender differences in union membership. However, the data reveal that these economic structural factors are not alone responsible. A specific strategy for rethinking the problem examines bargaining power; skill has been identified as a central factor in worker power. Feminists maintain that gender mediates manual skill's effect on union membership. Logistic regression techniques that test for gender interaction effects support the feminist perspective. Manual skill produces lower rates of union membership for women than men with comparable skills.     

THE IMPACT OF MONEY ON SHORT-TERM INTEREST RATES

This study reviews empirical evidence from four research methods related to the impact of money on short-term nominal rates. The studies consistently fail to find evidence supporting the much hypothesized short-term, negative relationship between money and nominal rates since at least April 1975. Reasons for the absence of a negative relationship include the tendency of financial markets to anticipate corrective action by the Fed whenever Ml deviates from targeted growth ranges and a rapid adjustment of inflationary expectations to changes in money growth.     

THE MORAL COSTS OF NASTINESS

We introduce two variants of the one‐shot joy‐of‐destruction minigame (mini‐JOD). Two players are endowed with the same amount of money. They simultaneously decide whether or not to reduce the other player's payoff at an own cost. In one treatment there was a probability that nature would destroy the opponent's money anyway. We test whether this feature reduces the moral costs of nastiness, and find that destruction rates rise significantly, despite the absence of strategic reasons. (JEL C72, C91, D03)     

THE IMPACT OF SOCIAL CAPITAL ON THE EARNINGS OF PUERTO RICAN MIGRANTS

There is a paucity of studies examining the relationship between Puerto Ricans' social capital and their earnings. I utilized data from the Latin American Migration Project (collected in 1998 and 1999) to test five hypotheses derived from social capital theory to predict the hourly earnings of Puerto Rican migrants. My study illustrates that Puerto Rican migrants' social capital is positively related with their earnings. Interestingly, the social capital effects only pertain to Puerto Rican females. Additionally, Puerto Rican migrants do not benefit from ethnic solidarity in terms of increased wages. My analyses point toward social capital's ability to provide important labor market information to Puerto Rican females, which they appear to use to acquire jobs paying higher wages.
Social capital theory has been applied to many different phenomenon including banking, education, immigration, labor markets, and nation building ( Massey et al. 1987 ; Coleman 1988 ; Uzzi 1999 ; Fernandez, Castilla, and Moore 2000 ; Putnam 2000 ). Within the labor market, social capital has been found to be related with earnings, employment, formal employment, and job tenure ( Mier and Giloth 1986 ; Donato, Durand, and Massey 1992 ; Aguilera 1999; 2003 ; Philips and Massey 1999 ; Aguilera and Massey 2003 ). Within the immigration field, social capital has been linked with the migration process, labor market outcomes, and attainment of citizenship ( Massey et al. 1987 ; Baker 2000 ; Aguilera and Massey 2003 ; Fussell 2004 ). Unfortunately, Puerto Ricans have been unstudied within this massive literature about social capital. Additionally, gender differences in returns to social capital are only just beginning to be recognized and there is little agreement as to whether males or females benefit most from social capital. I studied the relationship between social capital and labor market outcomes of Puerto Rican migrants, paying special attention to differences in gender.     

THE IMPACT OF PSYCHOLOGICAL AND HUMAN CAPITAL ON WAGES

Historically, economists have taken the position that psychological capital is either unobservable or immeasurable; thus, heretofore, little evidence has been available on the contribution of psychological capital to wages. Using data drawn from two different waves of the National Longitudinal Survey of Youth, we offer evidence that psychological capital has both a direct effect—via self-esteem—and an indirect effect—through locus of control—on an individual's real wage. We find a person s wage is more sensitive to changes in self-esteem than to comparable alterations in human capital. Both relative wages and human capital contribute to self-esteem.     

THE IMPACT OF MANAGERIAL CHANGE ON PERFORMANCE: THE ROLE OF TEAM HETEROGENEITY

When a key responsibility of a manager is to allocate more or less attractive tasks, subordinates have an incentive to work hard and demonstrate their talents. As a new manager is less well informed, management dismissals reinvigorate this tournament competition—but only in sufficiently homogeneous teams. We investigate this hypothesis using a large dataset on dismissals of soccer coaches, whose main task is indeed the selection of players. We find that dismissals enhance performance (only) in homogeneous teams. Moreover, we show that there is typically a negative selection bias when evaluating succession effects, which reconciles previous contradictory findings. (JEL D22, J44, J63)     

THE IMPACT OF ETHNICITY ON THE PERCEPTION OF HEROES AND HISTORICAL SYMBOLS*

Cet article cherche à vérifier empiriquement une hypothèse mise de l'avant par la Commission Royale d'Enquête sur le Bilinguisme et le Biculturalisme. La Commission affirme qu'il existe deux traditions historiques au Canada, l'anglophone et la francophone, qui sont mutuellement exclusives l'une de l'autre. Les matériaux de base proviennent d'une enquête sur échantillon de 960 élèves anglais et français de l'élémentaire, d'essais écrits par des étudiants et des entrevues en profondeur et des observations systématiques. Règie générate, les résultats confirmèrent et démontrèrent, en tout premier lieu, l'hypothèse que les enfants s'identifient d'abord et avant tout avec des symboles historiques de leur propre culture. De plus leurs perceptions ethnocentriques des personnages historiques s'accentuent avec le temps. Les données mettent également en relief que les enfants anglophones et francophones s'identifient à des périodes différentes de l'histoire canadienne. Les enfants d'expression française se réfèrent à la période avant la conquête tandis que les anglophones se rapportent à la période après la conquête (après 1760). L'auteur conclut qu'il existe peu de symboles de réconciliation dans l'histoire canadienne: les symboles courants constituent une force de division plutôt que d'être des moteurs d'unité. The object of this paper is to verify empirically a hypothesis suggested by the Royal Commission on Bilingualism and Biculturalism. The Commission suggests that there are two Canadian historical traditions, one Anglophone, the other Francophone, and that they are mutually exclusive. The data were derived from a survey of 960 English- and French-Canadian elementary pupils, essays written by children, and in-depth interviews and observation. The findings generally confirmed the hypothesis and showed, first of all, that children overwhelmingly identified with historical symbols of their own culture, and that their ethnocentric perception of historical figures increased with age. Second, the data showed that Francophone and Anglophone children identified with different eras of Canadian history. The former identified primarily with the pre-1760 era, while the latter identified mostly with the post-1760 era. It was concluded from these data that there are few reconciliation symbols in Canadian history which was, therefore, viewed as a divisive rather than a binding force.     

THE WELFARE COSTS OF DEFICIT FINANCE

We analyze the welfare consequences of deficit finance in a general equilibrium model fit to the US. economy. Current spending may be financed with current and/or future distortionary taxes. The economy is open to international capital flows. The welfare costs of financing marginal current spending are substantial and are sensitive to the timing of the required taxes; postponing a tax on labor income is advantageous but postponing a tax on asset income is not. Ricardian equivalence poorly approximates the economy we consider.