State Rainy Day Funds and Fiscal Crises: Rainy Day Funds and the 1990–1991 Recession Revisited

The recession of the early 1980s prompted many states to establish budget stabilization (rainy day) funds. Initial examinations of rainy day funds find a limited impact by the funds in alleviating fiscal stress. In this article, we propose an enhanced model of rainy day fund impact. Using data from 48 states for the 1990–1991 recession, our analysis indicates that the presence of a number of structural factors and the maintenance of generally large balances in other funds entering recession helps to alleviate fiscal stress when a state's economy is in recession.     

The law and economics of organ procurement

This paper presents an economic analysis of the organ procurement system in the U.S. and examines proposals to alleviate the shortage of transplantable organs. The paper's principal conclusions are: (1) Although non-market solutions deserve the highest priority, demand increases fueled by improvements in transplant technology will probably make some market-based solution necessary in the future. (2) Quality deterioration and coercion will not necessarily be worrisome problems under a market-based procurement system.     

The Geography of Empire

Abstract

Wealth and poverty, overdevelopment and underdevelopment, are sides of the same coin; in a capitalist system the one cannot exist without the other. This is as true at the global level as at the national level, and the U.S. Empire consists of both external and internal colonies (e.g. the ghettoes or the Indian and Chicano communities of the Southwest).     

美国大学的办学理念及其影响

美国的大学使用英语作为教学用语,其著名大学的排名位居世界前列,使成千上万的海外学子赴美求学.美国大学对世界的影响在于其先进的理念和良好的学术环境.