Journal Article
An economy at risk? The social costs of school inefficiency
Taylor, Lori L. (1994-07)
A preponderance of economic evidence demonstrates that the public school system in the United States is less efficient than it could be. However, few researchers have examined the economic consequences of such inefficiency. Lori Taylor finds that, although school inefficiency can crowd out consumption and investment in the remainder of the economy and can reduce the rate of return to investments in education, inefficiency has only a limited impact on economic activity. She estimates that, even compounded over twenty-five years, plausible degrees of school inefficiency reduce consumption and ...
Economic and Financial Policy Review , Issue Q III , Pages 1-13

Journal Article
The role of merchandise exports to Mexico in the pattern of Texas employment
Taylor, Lori L.; George, Kelly A. (1995-01)
In 1987, Texas exported $25 billion worth of merchandise to foreign countries. Twenty-six percent, or $6.5 billion, of those exports went south to Mexico. By 1994, Texas merchandise exports to Mexico had grown to more than $18.5 billion per year (in 1987 constant dollars). Texas merchandise exports to Mexico (in real terms) have grown more than 10 percent a year for six of the last seven years. ; Using input-output analysis, Kelly George and Lori Taylor find that merchandise exports to Mexico, while representing only about 5 percent of Texas output, have grown in ways that have substantially ...
Economic and Financial Policy Review , Issue Q I , Pages 22-30

Journal Article
The interest rate sensitivity of Texas industry
Taylor, Lori L.; Yücel, Mine K. (1996-04)
A key factor in forecasting a region's growth is anticipating how a region will respond to changes in national policy. One important way national policy affects a region is through real interest rates. Forecasting regional growth, therefore, requires good estimates of the interest rate sensitivity of regional industries. In this study, Lori Taylor and Mine Yucel use vector autoregression analysis to examine the relationship between changes in real short-term interest rates and changes in Texas industry employment. They find that while a few industries are moderately sensitive to interest rate ...
Economic and Financial Policy Review , Issue Q II , Pages 27-33

Journal Article
Neighborhood school characteristics: what signals quality to homebuyers?
Taylor, Lori L.; Hayes, Kathy J. (1996-10)
Popular wisdom and economic research suggest that the quality of the neighborhood school should be an important determinant of housing values. Many researchers have found that housing values are higher where school spending or student test scores are higher. However, few economists consider these characteristics good indicators of school quality. Meanwhile, no one has examined whether the economists' notion of school quality-the school's marginal effect on students-is a school characteristic that matters to homebuyers. ; Using a model of new home purchases and historical data on homes in the ...
Economic and Financial Policy Review , Issue Q IV , Pages 2-9

Journal Article
A look at long-term developments in the distribution of income
Taylor, Lori L.; Haslag, Joseph H. (1993-01)
Developments in the distribution of income have received much attention over the past decade. Several analysts have argued that income gains have gone almost exclusively to the highest paid 20 percent of the population, leaving no gains to the remaining 80 percent. ; Joseph H. Haslag and Lori L. Taylor examine developments in income inequality over the past forty years and estimate which factors account for these changes over time. While some researchers have found that income distribution became more equal during the 1950s and 1960s and then less equal after the mid-1970s, Haslag and Taylor ...
Economic and Financial Policy Review , Issue Jan , Pages 19-30

Journal Article
America's health care problem: an economic perspective
Yücel, Mine K.; Taylor, Lori L.; Fox Kellam, Beverly J. (1993-09)
Soaring health care expenditures and the large number of uninsured Americans-now estimated at 35 million-have received much public attention in recent years. The widespread concerns have led to demands for substantial reform of the U.S. health care system. ; Beverly Fox, Lori Taylor, and Mine Yucel identify several distortions in the current health care system that may be contributing to overconsumption of health care by some and underconsumption of health care by others, and thus may be leading to excessively high expenditures and the problems of the uninsured. These distortions include tax ...
Economic and Financial Policy Review , Issue Sep , Pages 21-31

Journal Article
Government budgets and property values
Taylor, Lori L. (1991-09)
Lori L. Taylor debunks several popular beliefs as she examines how property values relate to taxes, government services, and government debt. She finds that, contrary to popular belief, property values do not necessarily decrease when local governments increase taxes to pay for services. Her analysis reveals that taxpayers value all types of government services, including transfer payments such as welfare and health services. Taylor's work also suggests that people do not automatically prefer deficit spending to tax increases.
Economic and Financial Policy Review , Issue Sep , Pages 1-7

Journal Article
Reduced defense purchasing: anticipating the impact on state and industry employment
Taylor, Lori L. (1990-11)
Despite Iraq's invasion of Kuwait, budgetary pressures in the United States make significant cuts in defense purchasing seem inevitable. Lori L. Taylor analyzes the employment consequences of cutting billions of dollars in defense purchasing. She finds that while certain industries and areas would experience some economic difficulties, job losses would be negligible nationwide. ; Taylor estimates the near-term and long-term effects of a 10-percent cut in real defense purchasing. Using input-output analysis, she determines which industries are defense dependent and identifies the impact on ...
Economic and Financial Policy Review , Issue Nov , Pages 17-27

Journal Article
The evidence on government competition
Taylor, Lori L. (2000-04)
Society clearly benefits when businesses compete. The social benefits of government competition are still being debated, however. A large economics literature has sprung up to explore the premise that governments facing intense competitive pressure behave differently than do governments facing little or no competition. Lori Taylor examines the literature on government size, service quality, and productivity. She concludes that an ill-defined market for government, together with inconsistent and potentially inappropriate measuring sticks, raises the strong possibility that competition has ...
Economic and Financial Policy Review , Issue Q2 , Pages 2-10

Journal Article
Does the United States still overinvest in housing?
Taylor, Lori L. (1998-04)
Savvy investors allocate their resources across different types of investments to maximize their returns; savvy societies do likewise. Just as with the private sector, society maximizes the return on its investments when risk-adjusted social rates of return equalize across all types of investments. Unfortunately, whereas market arbitrage ensures that risk-adjusted private rates of return equalize, no similar mechanism exists to guarantee that risk-adjusted social rates of return are also equalized. Thus, society may invest relatively too much in some types of capital and relatively too little ...
Economic and Financial Policy Review , Issue Q II , Pages 10-18