Table Of Content

CONTENTS FOR VOLUME LXXVI AUTHORS Acs, ZOLTAN J., DAvip B. AUDRETSCH, AND MARYANN P. FELDMAN. R&D Spillovers and Recipient Firm Size ALEXANDER, BARBARA. The Impact of the National Industrial Recovery Act on Cartel Forma- tion and Maintenance Costs ALSTON, JULIAN M., KENNETH A. FOSTER, AND RICHARD D. GREEN. Estimating Elasticities with the Linear Approximate Almost Ideal Demand System: Some Monte Carlo Results fe 8 2 a 336 BANDOPADHYAYA, ARINDAM. An Estimation of the Hazard Rate of Firms under Chapter 11 Protection BEGHIN, JOHN C., AND MyLENE KHERALLAH. Political Institutions and International Patterns of Agricultural Protection BENNETT, LYNNE L. (See Howe, CHARLES W.) BERNSTEIN, JEFFREY I. Exports, Margins and Productivity Growth: With an Application to the Canadian Softwood Lumber Industry BisHop, JOHN A., JOHN P. FormBy, AND PAuL D. TuistLe. Convergence and Divergence of Regional Income Distributions and Welfare Boyp, Roy, AND KHosrow DoroopiAn. Exchange Rate Fxpectations and Functional Misspec- ification BresLAw, Jon A. Evaluation of Multivariate Normal Probability Integrals Using a Low Vari- ance Simulator CABALLERO, RICARDO. Small Sample Bias and Adjustment Costs CECCHETTI, STEPHEN G., AND Georcios Karras. Sources of Output Fluctuations During the Interwar Period: Further Evidence on the Causes of the Great Depression CuunG, KEE H., AND RAyYMonp A. K. Cox. A Stochastic Model of Superstardom: An Applica- tion of the Yule Distribution CORNWELL, CHRISTOPHER, AND WILLIAM N. TRUMBULL. Estimating the Economic Model of Crime with Panel Data ee ee er re 771 DaGENAIs, MaArRcEL G., AND JEAN-MArRiE Durour. Pitfalls of Rescaling Regression Models with Box-Cox Transformations DoroopiANn, KHosrow. (See Boyp, Roy) Dowrick, STEvE. (See MUMFORD, KAREN) Durour, JEAN-MARIE. (See DAGENAIS, MARCEL G.) .. 0.0... ee ee eee ee eens 571 Dusansky, RICHARD, AND PAuL W. Wizson. Technical Efficiency in the Decentralized Care of the Developmentally Disabled EasTERWOOD, JOHN C., RONALD F. SINGER, ANJU SETH, AND Dara F. Lana. Controlling the Conflict of Interest in Management Buyouts Eckarpb, E. Wooprow, Jr. An Empirical Test of the Free Rider and Market Power Hypothe- ses: A Comment 784 THE REVIEW OF ECONOMICS AND STATISTICS Evans, PAUL, AND GeorGios Karras. Are Government Activities Productive? Evidence from a Panel of U.S. States FALLICK, BRUCE CHELIMSKY. The Endogeneity of Advanced Notice and Fear of Destructive Attrition FEENBERG, DANIEL, AND JONATHAN SKINNER. The Risk and Duration of Catastrophic Health Care Expenditures FEINBERG, Rosert M. Paralegals and Associate Lawyers: Substitutability within the Law Firm, Pmesnnt; Manvaset P. Cir Pin, TD. ok oon ccs cas ca bad ecto deen wks eewees 336 ee ee hn ee ere ee 228 Foster, ANDREW D., AND MARK R. RoseNzweic. A Test for Moral Hazard in the Labor Market: Contractual Arrangements, Effort, and Health Foster, KENNETH A. (See ALSTON, JULIAN M.). 0.0.cc.c cee e.ee ee e eeee Fusu, YosHiFuMi. (See MATSUKAWA, IsAMU) GeEwWEKE, JOHN, MICHAEL KEANE, AND Davip RuNKLE. Alternative Computational Approaches to Inferences in the Multinomial Probit Model Goprrey, L. G. Testing for Serial Correlation by Variable Addition in Dynamic Models Estimated by Instrumental Variables GoLan, Amos, GEORGE JUDGE, AND SHERMAN ROBINSON. Recovering Information from Incom- plete or Partial Multisectoral Economic Data Gonz, lnssa Anniana. (Ser Quuna, Teoria; B0:) ... ck ci cd cicccdcecctddcaccwvescees Gou.Lp, Davin M. Immigrant Links to the Home Country: Empirical Implications for U.S. Bilateral Trade Flows Gomeet, Racenants DD. {See Aamo; SAMO ook ok os ok via he Zi ce be wieede scx casdede'd GRIESINGER, HARRIET. (See TAUCHEN, HELEN) Groot, Wim, AND HEsseEL OosTERBEEK. Earnings Effects of Different Components of School- ing: Human Capital versus Screening HarrIiGAN, JAMEs. Scale Economies and the Volume of Trade HIMMELBERG, CHARLES P., AND Bruce C. PETERSEN. R&D and Internal Finance: A Panel Study of Small Firms in High-Tech Industries Ho.tz-Eakin, DouG.as. Public-Sector Capital and the Productivity Puzzle Howe, CHARLES W., ByUNG-Joo LEE, AND LyNNE L. BENNETT. Design and Analysis of Contingent Valuation Surveys Using the Nested Tobit Model HuFFMAN, WALLACE E. (See KHANNA, Jyoti) Hun, Keun, AND Rosin C. Sickes. Estimation of the Duration Model by Nonparametric Maximum Likelihood, Maximum Penalized Likelihood, and Probability Simulators Hwana, Min. (See YANG, YUNG Y.) IHLANFELDT, KEITH R., AND MADELYN V. YounG. Intrametropolitan Variation in Wage Rates: The Case of Atlanta Fast-Food Restaurant Workers ImMBENS, G. W. Transition Models in a Non-stationary Environment IOANNIDES, YANNIS M., AND STUART S. ROSENTHAL. Estimating the Consumption and Invest- ment Demands for Housing and Their Effect on Housing Tenure Status Jacosy, HANAN G. Borrowing Constraints and Progress Through School. Evidence from Peru . . JAIN, PARUL, AND CHOON-GEOL Moon. Sectoral Money Demand: A Cointegration Approach . . JANTU, Markus. A More Efficient Estimate of the Effects of Macroeconomic Activity on the Distribution of Income JUsTMAN, MosHeE. The Effect of Local Demand on Industry Location Kao, CuHIwA, AND CuNcHI Wu. Rational Expectations, Information Signalling and Dividend Adjustment to Permanent Earnings CONTENTS FOR VOLUME LXXVI Karras, Georaios. (See Evans, PAUL) KEANE, MICHAEL P., AND KENNETH I. Wo.pPin. The Solution and Estimation of Discrete Choice Dynamic Programming Models by Simulation and Interpolation: Monte Carlo Evidence , , . KEANE, MICHAEL. (See GEWEKE, JOHN) KHANNA, Jyoti, WALLACE, E. HUFFMAN AND Topp SANDLER. Agricultural Research Expendi- tures in the United States: A Public Goods Perspective KHERALLAH, MYLENE. (See BEGHIN, JOHN C.) KNETTER, MICHAEL M. Did the Strong Dollar Increase Competition in U.S. Product Markets? . Koop, Gary. Bayesian Semi-Nonparametric ARCH Models Lana, Dara F. (See EAsTERWOOD, JOHN C.) Lee, ByuNG-Joo. (See Howe, CHARLES W.) Lesser, WILLIAM H. (See MADHAVAN, ANANTH N.) MADHAVAN, ANANTH N., ROBERT T. MASSON, AND WILLIAM H. Lesser. Cooperation for Monopolization? An Empirical Analysis of Cartelization MAMUNEAS, THEOFANIS P. (See NaApiri, M. IsHAg) MANCHESTER, JOYCE, AND WaARwICK J. McKispin. The Macroeconomic Consequences of the Savings and Loan Debacle Marquez, JAime. The Econometrics of Elasticities or the Elasticity of Econometrics: An Empirical Analysis of the Behavior of U.S. Imports Masson, RoBertT T. (See MADHAVAN, ANANTH N.) MatsukKaAwa, ISAMU, AND YOSHIFUMI Fusil. Customer Preferences for Reliable Power Supply: Using Data on Actual Choices of Backup Equipment McFappENn, DANIEL, AND PAUL Ruup. Estimation by Simulation McKisBin, WARWICK J. (See MANCHESTER, JOYCE) MIHALJEK, DUBRAVKO. (See PRASNIKAR, JANEZ) MITCHELL, OLIiviA S., AND RoBERT S. SmitH. Pension Funding in the Public Sector Moon, CHOON-GEOL. (See JAIN, PARUL) MuMFoRD, KAREN, AND STEVEN Dowrick. Wage Bargaining with Endogenous Profits, Over- time Working and Heterogeneous Labor Napiri, M. IsHaAg, AND THEOFANIS P. MAMunNgEAs. The Effects of Public Infrastructure and R & D Capital on the Cost Structure and Performance of U.S. Manufacturing Industries. . . NEUMANN, MAnrRED J. M. (See Von HAGEN, JURGEN) OHANIAN, NANcy Kane. Vertical Integration in the U.S. Pulp and Paper Industry, 1900-1940 . . OosTERBEEK, HEssEL. (See Groot, Wim) Ozuna, TEOFILO, JR., AND IRMA ADRIANA GOMEz. Estimating a System of Recreation Demand Functions Using a Seemingly Unrelated Poisson Regression Approach PALMQUIST, RAYMOND B. (See SMitH, V. KERRY) Peop.es, JAMES, Jk. Monopolistic Market Structure, Unionization, and Racial Wage Differen- PRASNIKAR, JANEZ, JAN SVEJNAR, DUBRAVKO MIHALJEK, AND VESNA PRASNIKAR. Behavior of Participatory Firms in Yugoslavia: Lessons for Transforming Economies PRASNIKAR, VESNA. (See PRASNIKAR, JANEZ) PrusA, THomas J., AND JAMEs A. SCHMiTz, Jk. Can Companies Maintain Their Initial Innova- tive Thrust? A Study of the PC Software Industry Ripar, Davin C. Teenage Fertility and High School Completion Roserts, JOHN M., Davin J. StocKTON, AND CHARLES S. STRUCKMEYER. Evidence on the Flexibility of Prices 786 THE REVIEW OF ECONOMICS AND STATISTICS RoBINSON, SHERMAN. (See GOLAN, AMos) ROSENTHAL, STUART S. (See IOANNIDES, YANNIS M.), 2... .......0 0c cece eee eee e ee ees ROSENZWEIG, MARK R. (See Foster, ANDREW D.)..... 0.0... cee cee ccc ce cee eee RUuNKLE, Davin. (See GEwEKE, JOHN) Ruup, PAu. (See McCFADDEN, DANIEL) SANDLER, Topp. (See KHANNA, JYoT1) Sastry, D. V. S., AND UsywaLa R. KELKAR. Note on the Decomposition of Gini Inequality eneres, Dace: A, Sa CE Pi, TRA oi. os bo ha es eRe ee ha ea ScoTesE, CAROL A. (See WANG, PinG) SeTH, ANsu. (See EASTERWOOD, JOHN C) SHEEHAN, RICHARD G. (See CosimANo, THOMAS F.) SHowaLTER, Mark H. A Monte Carlo Investigation of the Box-Cox Model anda Nonlinear Least Squares Alternative SICKLES, Rosin C. (See Hun, KEuN) Simon, Davip P. The Treasury’s Experiment with Single-Price Auctions in the Mid-1970s: eee TR vc STi in on KK NASR OA SINGER, RONALD F. (See EASTERWOOD, JOHN C.) SKINNER, JOHNATHAN. (See FEENBERG, DANIEL) Smart, Scott B., AND Jo—EL WALDFOGEL. Measuring the Effect of Restructuring on Corporate Performance: The Case of Management Buyouts Servet; Dames B.. Chew Dien, Ge a en 60s cn Se 4 a 4 es SmiTH, V. KERRY, AND RAYMOND B. PALMQuistT. Temporal Substitution and the Recreational i PTeOe Pe ee ae STERN, STEVEN. Two Dynamic Discrete Choice Estimation Problems and Simulation Method Solutions Srockron, Daven 3. Choe Teena Hi ied i i es ok Ro a Fo eee Rees § CR OR STRUCKMEYER, CHARLES S. (See RoBERTs, JOHN M.) SVEJNAR, JAN. (See PRASNIKAR, JANEZ) TAUCHEN, HELEN, ANN DRYDEN WITTE, AND HARRIET GRIESINGER. Criminal Deterrence: Revisiting the Issue with a Birth Cohort THISTLE, PAUL D. (See BisHop, JOHN A.) Topa, Hiro Y. Finite Sample Properties of Likelihood Ratio Tests for Cointegrating Ranks When Linear Trends Are Present TRUMBULL, WILLIAM N. (See CORNWELL, CHRISTOPHER) Von HaGen, JURGEN, AND MANFRED J. M. NEUMANN. Real Exchange Rates within and WANG, PING, CHONG K. Yip, AND CAROL A. Scorese. Fertility Choice and Economic Growth: Theory and Evidence Wiison, PAuL W. (See Dusansky, RICHARD) Witte, ANN DrypDen. (See TAUCHEN, HELEN) Wo pin, KENNETH I. (See KEANE, MICHAEL P.) Woo vpribGE, JEFFREY M. A Simple Specification Test for the Predictive Ability of Transfor- mation Models YAISAWARNG, SUTHATHIP, AND J. DouGLass Kein. The Effects of Sulfur Dioxide Controls on Productivity Change in the U.S. Electric Power Industry YANG, YUNG Y., AND MIN Hwana. Price Behavior in Korean Manufacturing YASHIV, ERAN. Money Demand in a High Inflation Economy: The Case of Israel Yip, CHonc K. (See Wana, PiNG) CONTENTS FOR VOLUME LXXVI TITLES Agricultural Research Expenditures in the United States: A Public Goods Perspective. By Jyoti Khanna, Wallace E. Huffman, and Todd Sandler Alternative Computational Approaches to Inference in the Multinomial Probit Model. By John Geweke, Michael Keene, and David Runkle Are Government Activities Productive? Evidence from a Panel of U.S. States. By Paul Evans and Georgios Karras Bayesian Semi-Nonparametric ARCH Models. By Gary Koop Behavior of Participatory Firms in Yugoslavia. Lessons for Transforming Economies. By Janez Prasnikar, Jan Svejnar, Dubravko Mihaljek, and Vesna Prasnikar Borrowing Constraints and Progress Through School: Evidence from Peru. By Hanan G. Jacoby. Can Companies Maintain Their Initial Innovative Thrust? A Study of the PC Software Industry. By Thomas J. Prusa and James A. Schmitz, Jr Controlling the Conflict of Interest in Management Buyouts. By John C. Easterwood, Ronald F. Singer, Anju Seth, and Darla F. Lang Convergence and Divergence of Regional Income Distributions and Welfare. By John A. Bishop, John P. Formby, and Paul D. Thistle Cooperation for Monopolization? An Empirical Analysis of Cartelization. By Ananth N. Mad- havan, Robert T. Masson, and William H. Lesser Criminal Deterrence: Revisiting the Issue with a Birth Cohort. By Helen Tauchen, Ann Dryden Witte, and Harriet Griesinger Customer Preference for Reliable Power Supply: Using Data on Actual Choices of Back-up Equipment. By Isamu Matsukawa and Yoshifumi Fujii Design and Analysis of Contingent Valuation Surveys Using the Nested Tobit Model. ~By Charles W. Howe, Byung-Joo Lee, and Lynne L. Bennett Did the Strong Dollar Increase Competition in U.S. Product Markets? By Michael M. Knetter., . Does Import Competition Force Efficient Production? By James M. MacDonald Earnings Effects of Different Components of Schooling: Human Capital versus Screening. By Wim Groot and Hessel Oosterbeek The Econometrics of Elasticities or the Elasticity of Econometrics: An Empirical Analysis of the Behavior of U.S. Imports. By Jaime Marquez The Effect of Local Demand on Industry Location. By Moshe Justman The Effects of Public Infrastructure and R & D Capital on the Cost Structure and Performance of U.S. Manufacturing Industries. By M. Ishaq Nadiri and Theofanis P. Mamuneas The Effects of Sulfur Dioxide Controls on Productivity Change in the U.S. Electric Power Industry. By Suthathip Yaisawarng and J. Douglass Klein An Empirical Test of the Free Rider and Market Power Hypotheses: A Comment. By E. Woodrow Eckard, Jr... . The Endogeneity of Advance Notice and Fear of Destructive Attrition. By Bruce Chelimsky Fallick Estimating a System of Recreation Demand Functions Using a Seemingly Unrelated Poisson Regression Approach. By Teofilo Ozuna, Jr. and Irma Adriana Gomez Estimating Elasticities with the Linear Approximate Almost Ideal Demand System: Some Monte Carlo Results. By Julian M. Alston, Kenneth A. Foster, and Richard D. Green Estimating the Consumption and Investment Demands for Housing and Their Effect on Housing Tenure Status. By Yannis M. Ioannides and Stuart S. Rosenthal Estimating the Economic Model of Crime with Panel Data. By Christopher Cornwell and William N. Trumbull 788 THE REVIEW OF ECONOMICS AND STATISTICS Estimation of the Duration Model by Nonparametric Maximum Likelihood, Maximum Penal- ized Likelihood, and Probability Simulators. By Keun Huh and Robin C. Sickles An Estimation of the Hazard Rate of Firms under Chapter 11 Protection. By Arindam Bandopadhyaya Evaluation of Multivariate Normal Probability Integrals Using Low Variance Simulator. By Jon A. Breslaw Evidence on the Flexibility of Prices. By John M. Roberts, David J. Stockton, and Charles S. Struckmeyer Exchange Rate Expectations and Functional Misspecification. By Roy Boyd and Khosrow Doroodian Exports, Margins and Productivity Growth: With an Application to the Canadian Softwood Lumber Industry. By Jeffrey I. Bernstein Fertility Choice and Economic Growth: Theory and Evidence. By Ping Wang, Chong K. Yip and Carol A. Scotese Finite Sample Properties of Likelihood Ratio Tests for Cointegrating Ranks When Linear Trends Are Present. By Hiro Y. Toda How Fast Do Old Men Slow Down? By Ray C. Fair Immigrant Links to the Home Country: Empirical Implications for U.S. Bilateral Trade Flows. dete appt dcicc rcaect EET TE. ECE OTT EE Ne ie LORE em The Impact of the National Industrial Recovery Act on Cartel Formation and Maintenance Costs. By Barbara Alexander Intrametropolitan Variation in Wage Rates: The Case of Atlanta Fast Food Restaurant Workers. By Keith R. Ihlanfeldt and Madelyn V. Young Is the Conventional View of Discount Window Borrowing Consistent with the Behavior of Weekly Reporting Banks? By Thomas F. Cosimano and Richard G. Sheehan The Macroeconomic Consequences of the Savings and Loan Debacle. By Joyce Manchester and Warwick J. McKibbin Measuring the Effect of Restructuring on Corporate Performance: The Case of Management Buyouts. By Scott B. Smart and Joel Waldfogel Money Demand in a High Inflation Economy: The Case of Israel. By Eran Yashiv Monopolistic Market Structure, Unionization, and Racial Wage Differentials. By James Peoples, Jr A Monte Carlo Investigation of the Box-Cox Model and a Nonlinear Least Squares Alternative. By Mark H. Showalter A More Efficient Estimate of the Effects of Macroeconomic Activity on the Distribution of Income. By Markus Jantti National Saving and Budget Deficits. By Robert Eisner Note on the Decomposition of Gini Inequality. By D. V. S. Sastry and Ujwala R. Kelkar Paralegals and Associate Lawyers: Substitutability within the Law Firm, 1977-87. By Robert M. Feinberg Pitfalls of Rescaling Regression Models with Box-Cox Transformations. By Marcel G. Dagenais and Jean-Marie Dufour Political Institutions and International Patterns of Agricutural Protection. By John C. Beghin and Myléne Kherrallah Price Behavior in Korean Manufacturing. By Yung Y. Yang and Min Hwang Public-Sector Capital and the Productivity Puzzle. By Douglas Holtz-Eakin R & D and Internal Finance: A Panel Study of Small Firms in High-Tech Industries. By Charles P. Himmelberg and Bruce C. Petersen R&D Spillovers and Recipient Firm Size. By Zoltan J. Acs, David B. Audretsch, and Maryann P. Feldman CONTENTS FOR VOLUME LXXVI Rational Expectations, Information Signalling and Dividend Adjustment to Permanent Earn- ings. By Chihwa Kao and Chunchi Wu Real Exchange Rates within and between Currency Areas: How Far Away Is EMU? By Jiirgen von Hagen and Manfred J. M. Neumann Recovering Information from Incomplete or Partial Multisectoral Economic Data. By Amos Golan, George Judge, and Sherman Robinson The Rising Price of Physicians’ Services: A Correction and Extension on Supply. By Douglas M. The Risk and Duration of Catastrophic Heaith Care Expenditures. By Daniel Feenberg and Jonathan Skinner Scale Economies and the Volume of Trade. By James Harrigan Sectoral Money Demand: A Cointegration Approach. By Parul Jain and Choon-Geol Moon... . A Simple Specification Test for the Predictive Ability of Transformation Models. By Jeffrey M. Wooldridge Small Sample Bias and Adjustment Costs. By Ricardo J. Caballero The Solution and Estimation of Discrete Choice Dynamic Programming Models by Simulation and Interpolation: Monte Carlo Evidence. By Michael P. Keane and Kenneth I. Wolpin. . . Sources of Output Fluctuations During the Interwar Period: Further Evidence on the Causes of the Great Depression. By Stephen C. Cecchetti and Georgios Karras A Stochastic Model of Superstardom: An Application of the Yule Distribution. By Kee H. Chung and Raymond A. K. Cox Technical Efficiency in the Decentralized Care of the Developmentally Disabled. By Richard Dusansky and Paul W. Wilson Teenage Fertility and High School Completion. By David C. Ribar Temporal Substitution and the Recreational Value of Coastal Amenities. By V. Kerry Smith and Raymond B. Palmquist A Test for Moral Hazard in the Labor Market: Contractual Arrangements, Effort and Health. By Andrew D. Foster and Mark R. Rosenzweig Testing for Serial Correlation by Variable Addition in Dynamic Models Estimated by Instru- mental Variables. By L. G. Godfrey Testing the Convergence Hypothesis. By Frank R. Lichtenberg Transition Models in a Non-stationary Environment. By G. W. Imbens The Treasury’s Experiment with Single-Price Auctions in the Mid-1970s: Winner’s or Taxpayer’s Curse? By David P. Simon Two Dynamic Discrete Choice Estimation Problems and Simulation Method Solutions. By Steven Stern Vertical Integration in the U.S. Pulp and Paper Industry, 1900-1940. By Nancy Kane Ohanian., . Wage Bargaining with Endogeneous Profits, Overtime Working and Heterogeneous Labor. By Karen Mumford and Steve Dowrick