THE POLITICALLY OPTIMAL TARIFF: LEVELS OF TRADE RESTRICTIONS ACROSS DEVELOPED COUNTRIES

The degree to which countries restrain international trade varies significantly. This paper explains the pattern of tariff and non-tariff trade barriers for developed countries, in the context of politically optimal redistribution. The degree of trade restriction across countries is shown to be determined by differences in such factors as per capita income, the size of the government, and the size of the country.     

SHOPPING HOURS AND PRICE LEVELS IN THE RETAILING INDUSTRY: A THEORETICAL AND EMPIRICAL ANALYSIS

We explore the effect of extended shopping hours on the demand faced by small and large stores and on their prices. Our theoretical model predicts that prices at large stores will increase after opening hours are deregulated. We then test this prediction using a set of Quebec data collected before and after the deregulation of opening hours in July 1990. The results support our view that prices have increased at large stores since deregulation and that consumers pay for greater shopping flexibility.     

INVESTIGATING THE CAUSAL RELATIONSHIP BETWEEN QUITS AND WAGES: AN EXERCISE IN COMPARATIVE DYNAMICS

This paper examines the causal relationship between wages and quits in U.S. manufacturing industries. Logit and regression models then relate causality test results to industrial characteristics. Once these relationships are identified, they can be used to predict the causality classification for each industry, based on the characteristics of that industry. This technique can help the researcher choose the appropriate theoretical model for analysis. One finding is that quits respond to wages in most industries, but not in industries with highly skilled workforces.     

Professionalism and the Adoption of Black Children

Correspondence to Paul Stubbs, Visiting Research Fellow, University of Lancaster, Department of Social Administration, Fylde College, Lancaster LA1 4YF. Summary This article poses certain issues about the effects of professionalismin policy and practice in the adoption of black children. Bylocating the practice in its historical context, recent debatesabout ‘bans’ on the adoption of black children bywhite families can be discussed more clearly. This is followed by case studies based on original researchin two London boroughs, examining professionalism in child careand adoption practice, before certain conclusions and alternativesare addressed.     

Markov Chain Monte Carlo for Exact Inference for Diffusions

ABSTRACT. We develop exact Markov chain Monte Carlo methods for discretely sampled, directly and indirectly observed diffusions. The qualification ‘exact’ refers to the fact that the invariant and limiting distribution of the Markov chains is the posterior distribution of the parameters free of any discretization error. The class of processes to which our methods directly apply are those which can be simulated using the most general to date exact simulation algorithm. The article introduces various methods to boost the performance of the basic scheme, including reparametrizations and auxiliary Poisson sampling. We contrast both theoretically and empirically how this new approach compares to irreducible high frequency imputation, which is the state‐of‐the‐art alternative for the class of processes we consider, and we uncover intriguing connections. All methods discussed in the article are tested on typical examples.