Risk premiums and optimal combat-force levels in an all-volunteer army |
| |
Authors: | D W Kreutzer |
| |
Institution: | 1. Employment Policies Institute 1090. , Vermont Ave, NW, Suite 800, Washington, DC 20005, USA david@daytonva.com |
| |
Abstract: | This article extends empirical research on the determinants of divorce in two ways. First, I examine the effect of inflation on divorce. Second, the use of a structural time-series modelling approach attributes unobservables and omitted variables to an unobserved component, which allows for the model's parameters to be estimated consistently. Inflation is statistically significant, positive and persistent. I show that the effects of inflation are robust to the inclusion of additional explanatory variables and various trend specifications. The long-run implications of inflation are also substantial. I conclude that price stability has the potential to reduce divorce rates. |
| |
Keywords: | |
|
|