Do oil tariffs lower wages?

An oil tariff has potential to alter the pattern of production and income distribution across productive factors. This paper use a general equilibrium model of production and trade with inputs of capital, labor, and international energy to examine the effects of an oil tariff. Under a range of conditions, higher energy prices created by oil tariffs would lower the ratio of wages to capital rents, and production of labor intensive goods would fall. This paper concentrates on the potential of oil tariffs to alter patterns of production and income distribution.     

Consumption norms,trickle-down and the video/microwave syndrome

A new method is presented for investigating empirically the presence or not of consumption norms in the ownership of durables amongst different socioeconomic groups (although the method is more generally applicable to any situation in which a number of characteristics, and not just durables, may be acquired in a specific sequence). In order to illustrate the method, some results are presented for the ownership of durables as sampled by the National Readership Survey for 1985 and 1990. As a further application of the method, particular attention is paid to the changing incidence of ownership of videos and microwaves. Both theoretically and empirically, the trickle-down model of consumer choice is critically assessed and found to be wanting.     

Competitively awarded government grants

The model of consumer behavior subject to a budget constraint, often applied to such programs as Federal grants to local governments, ignores the fact that the terms and size of the grant may be influenced by the potential recipient's own efforts. This is most clearly true for competitively awarded grants. In a simple case the marginal recipient of a competitively awarded grant receives no net private benefit and imposes a net loss on society for his effort. The issue is general and should be considered in adopting a grant program to achieve social goals.     

Customer complaint situations: An equity theory perspective

The purpose of the study was to determine the effects of equity and outcomes in customer complaint situations. The study utilized a 2 × 2 within-subjects design with equity (inequity, equity) and outcomes (low, high) as the independent variables. The dependent variables were perceived equity, behavioral intentions, resentment, and guilt. Subjects were 128 students from a large western university. It was hypothesized that high outcome situations would be perceived as more equitable than low outcome situations, regardless of equity condition; high outcome situations would yield more favorable behavioral intentions, regardless of equity condition; subjects would perceive more resentment in inequitable, low outcome situations; subjects would perceive more guilt in inequitable, high outcome situations. Hypotheses 1, 2, and 3 were supported. Hypothesis 4 was not supported. Implications for customer complaint handling practices were discussed. © 1995 John Wiley & Sons, Inc.     

PENN SQUARE,PROBLEM LOANS,AND INSOLVENCY RISK

This paper investigates the influence of the failure of Penn Square Bank of Oklahoma City on stock prices within the banking industry. This influence is compared to the results of previous studies of the failures of Franklin National Bank of New York and United States National Bank of San Diego. While each of these earlier studies finds only a transitory impact on bank securities, this paper finds evidence of a structural change in the pricing mechanism for bank stocks after the Penn Square failure.