MENGER, JEVONS AND WALRAS DE-HOMOGENIZED

In this essay, emphasis is laid on the differences between the "revolutionary" innovations of Menger, jevons and Walras. The main point is that the persistent historiographic practice of classifying these authors together simply as independent discoverers of very much the same marginal utility principle has obscured essential differences not only in the original intent and design of their theoretical edifices, but also in the influence their major works exerted, each in a way of its own, upon the subsequent development of economic thought.     

AN ANALYSIS OF THE QUALITY DIFFERENTIALS IN MALE-FEMALE ACADEMIC PLACEMENTS

This paper attempts to determine if a significant differential existed in the quality of the academic placements of male and female economists for the period 1960 to 1974, and examines the factors at work in such placements. Several reduced form equations of a formal three equation model of the hiring process in the academic labor market are estimated by ordinary least squares regression analysis. The analysis indicates that males had a 22.2 percent advantage in placement quality over women for the period and most of this can be attributed to some form of discrimination.     

THE DEMAND FOR HIGHER EDUCATION AND INSTITUTIONAL ENROLLMENT FORECASTING

This paper presents a university enrollment forecasting model and evaluates the model's performance in a case application. The model includes (1) enrollment demand equations with both tuition and labor market variables; (2) equations to forecast values of the labor market variables which influence demand; and (3) procedures to calculate the statistical confidence interval in an enrollment forecast .     

RETAIL REDLINING: ARE GASOLINE PRICES HIGHER IN POOR AND MINORITY NEIGHBORHOODS?

This study uses new data on retail gasoline prices in three cities to provide evidence on the relationship between neighborhood characteristics and consumer prices. We find that prices do not vary greatly with neighborhood racial composition, but that prices are higher in poor neighborhoods. For a 10% point increase in poor families relative to middle‐upper income families, retail gasoline prices increase by an average of 0.70%. Two‐thirds of this differential is explained by cost, competition, and demand characteristics of poor neighborhoods. The remaining differential likely reflects price discrimination in response to lower competition and/or more inelastic demand in poor neighborhoods. (JEL D43, J15, L71)     

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.