David H. Feldman

State Higher Education Spending and the Tax Revolt

State policies resulting from the tax revolt of the late 1970s play an important role in determining the timing and magnitude of the decline in state tax effort for higher education. An understanding of the fiscal environment caused by these provisions is critical for the future of state-supported higher education.

Lessons of Economic Stabilization and Its Aftermath

Part 1 The transition from stabilization to sustained growth in Bolivia, Juan Antonio Morales: comments by Peter Bernholz comments by Juan L. Cariaga general discussion. Part 2 Chiles experience with stabilization revisited, Vittorio Corbo and Andres Solimano: comments by Sebastian Edwards comments by Leonardo Leiderman general discussion. Part 3 From sharp disinflation to hyperinflation, twice - the Argentine experience, 1985-1989, Daniel Heymann: comments by Jose Juis Machinea comments by Simon Teitel general discussion. Part 4 From inertia to megainflation - Brazil in the 1980s, Eliana Cardoso: comments by Persio Arida comments by Juan Carlos de Pablo general discussion. Part 5 The inflation-stabilization cycles in Argentina and Brazil, Miguel A. Kiguel and Nissan Liviatan: comments by Mario I. Blejer comments by Assaf Razin general discusion. Part 6 The costly transition from stabilization to sustainable growth - Israels case, Michael Bruno and Leora (Rubin) Meridor: comments by Stanley Fischer general discussion. Part 7 Mexico beyond the debt crisis - toward sustainable growth with price stability, Guillermo Ortiz: comments by Fernando Clavijo comments by Sylvia Piterman general discussion. Part 8 Premature liberalization, incomplete stabilization - the Ozal decade in Turkey, Dani Rodrik: comments by Sweder van Wijnbergen general discussion. Part 9 The Yugoslav path to high inflation, Velimir Bole and Mitja Gaspari: comments by Neven Mates comments by Domenico Mario Nuti general discussion. Part 10 Panel discussion - whats new since Toledo?

Explaining Increases in Higher Education Costs

This paper presents new evidence on the conflict between two competing explanations of the increase in college costs, the cost disease theory of William Baumol and William Bowen and the revenue theory of cost of Howard Bowen. Using cross section data, the paper demonstrates that the cost disease explanation dominates.

Economic liberalization in developing countries

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Universities in the Marketplace, and: Academic Capitalism, and: Remaking the American University: Market Smart and Mission Centered

This article presents new evidence on the conflict between two competing explanations of the increase in college costs, the cost disease theory of William Baumol and William Bowen and the revenue theory of cost of Howard Bowen. Using cross-section data, the article demonstrates that the cost disease explanation is more important than the revenue theory.

Devaluation and non-traded goods in a labor migration model

Abstract In a three-sector model with labor migration, a devaluation which lowers non-traded goods prices must raise labors expected real wage as a group, though in some sectors the real wage may fall ex post.

Economic policy and the relative price of services in LDCs

Abstract Low relative prices of nontraded services are a feature of developing economies. Recent explanations focus on structural issues such as factor endowments and returns to scale. This paper argues that economic policy may also contribute to low LDC service prices. In a three-sector model with wage differentials, financial repression unambiguously depresses both per capita real income and the price of nontraded goods. In contrast to most current models, tariffs and production subsidies can also depress nontraded goods prices.

Financial repression and the relative price of non-traded goods

Abstract The financial structure of LDCs affects differences in relative prices among nations. We show empirically that financial repression depresses the relative price of non-traded goods.

Revealed preferences for car tax cuts: an empirical study of perceived fiscal incidence

Voting in an election in which elimination of the local car tax is the central issue shows how a highly visible universal tax cut can prevail in the electoral process even if benefits are skewed toward upper income households. These results are consistent with positive models of fiscal structure choice in which fiscal systems are the consequence of support maximizing politicians attempting to supply net benefits to easily identifiable interest groups without generating significant opposition from other groups.

A Quality-Preserving Increase in Four-Year College Attendance

We use the National Longitudinal Study of the High School Class of 1972 and the Education Longitudinal Study of 2002 data sets to evaluate changes in the college matching process. Rising attendance rates at 4-year institutions have not decreased average preparedness of college goers or of college graduates, and further attendance gains are possible before diminishing returns set in. We use multinomial logit models to demonstrate that measures of likely success (grade point average) became more predictive of college attendance over time, while other student characteristics such as race and parents’ education became less predictive. Our evidence suggests that schools have become better at sorting while students have efficiently responded to changes in the return to higher education.