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Vol. VIII, Spring 1996

This volume is the eighth annual publication of the Duke Journal of Economics, formerly the Undergraduate Economics Journal. Founded in 1988, the Journal is a showcase for the outstanding contributions made each year to the economics discipline by Duke students.

In this issue:

  • Undergraduate papers in all areas of economics
  • A Book Review section featuring Sebastian Edwards
  • First Annual Duke Journal of Economics Award for Best Submission

We have continued the Book Review segment began last year. This year’s Book Review segment highlights the work of Sebastian Edwards, Professor of Economics and Business at the University of California at Los Angeles.

In order to recognize the excellent work submitted to the Duke Journal of Economics, the Journal will award a prize for best submission each year. We would like to congratulate Arnold Baker for being selected as the first annual winner for his submission, “Into the Dustbin of History: The Story of APEC.” His submission is a shortened version of his senior honors thesis which was advised by Professor Craufurd Goodwin.

In addition, the editors dedicate the eighth volume of the Duke Journal of Economics to Professor Thomas Havrilesky, who passed away on September 9, 1995. Professor Havrilesky was a dedicated professor for 26 years and he will be missed by the entire Duke community.

Thanks to Professor Craufurd Goodwin, Bruce D. Fitzgerald, the Allen Starling Johnson, Jr. Endowment Fund, Louise Merriam, and the staff of the Duke University Economics Department.

Manuscript submissions should be forwarded to Duke Journal of Economics, Room 305 Social Sciences, Durham, North Carolina 27708.

Editors Felicia Gross and Justin Knowles

In Memoriam

Into the Dustbin of History: Economists and Asia-Pacific Economic Cooperation, by Arnold Baker. View Thesis

The AFDC Dilemma: A Problem of Incentives and Tradeoffs, by Perry Cahall.  View Thesis

An Investigation of the Causes of Marital Fertility Decline, by Jonathan Frankel.  View Thesis

The Link Between Frequency and Extent of Alcohol Use and Participation in Public Assistance Programs, by Paul Alexander Friedmann.  View Thesis

Systemic Risk in the Derivatives Market, by Felicia Gross.  View Thesis

Standing at the Intersection of Philosophy and Economics: The Axiomatic Approach to the Problem of Distributive Justice, by Matthew Taylor Hinshaw.  View Thesis

Voluntary Export Restraints: A Disguised Protection Costing All Americans, by Chol-Ho Kim.

East German Economic Transformation: An Analysis of Privatization by the Treuhandanstalt, by Todd Latz.  View Thesis

Reactions to the Phenomenon of Foreign Direct Investment in the United States, by Stephen Moon.  View Thesis

The Advantages and Disadvantages of Implementing a Consumed-Income Tax in the united States, by Kevin Rivard.  View Thesis

The 1994 Baseball Strike: Implications and Policy Options, by Christian Schwarz.  View Thesis

Corruption: Its Necessary Role in the Pre-Reform Economy of the Soviet Union, by Sara Sherman and Heather Zdon.  View Thesis

Book Reviews. View Reviews