Economic Policy Commons^™

Quasi Exclusive Dealing, Herbert J. Hovenkamp

All Faculty Scholarship

A firm's discounting policies over a single product raise concerns analogous to exclusive dealing in two situations. First, the firm may offer conditional discounts structured in such a way as to induce customers to take most of their requirements for a given product from the defendant. In addition, a firm may employ “slotting” fees or similar allowances paid by manufacturers to retailers, with the possible result that rivals have difficulty obtaining access to shelf space. Neither practice is literally "exclusive dealing," because neither involves a condition that the purchaser not deal in the goods of a rival, although they may …

Regulating And Deregulating The Public Utilities 1830–2010, Judith Clifton Dr.

Judith Clifton

History can provide invaluable insights into important issues of the economic and social regulation of utilities, and offer lessons towards future debates. But the history of utility regulation – which speaks of changing, diverse and complex experiences around the world – was, unfortunately, sidelined or marginalised when economists and policymakers enthusiastically embraced the question of how to reform the utilities from the 1970s. This paper provides an overview of the three, overarching, `waves' of utility regulation from the nineteenth century to the present, documenting how, when and why the ways in which the roles of the state, the market and …

From National Monopoly To Multinational Corporation: How Regulation Shaped The Road Towards Telecommunications Internationalisation, Judith Clifton, Daniel Díaz-Fuentes, Francisco Comín

Judith Clifton

One of the consequences of major regulatory reform of the telecommunications sector from the end of the 1970s – particularly, privatisation, liberalisation and deregulation – was the establishment of a new business environment which permitted former national telecommunications monopolies to expand abroad. From the 1990s, a number of these firms, particularly those based in Europe, joined the rankings of the world's leading multinational corporations. Their internationalisation was uneven, however: while some firms internationalised strongly, others ventured abroad much slower. This article explores how the regulatory framework within which telecommunications incumbents evolved over the long-term shaped their subsequent, uneven, paths to …

Changing The World With One Cell: The Story Of Hela, Allison Roberts

Allison Roberts

Poster Created for the Diversity Committee Fall 2011 Culture Corner featuring The Immortal Life of Henrietta Lacks. Henrietta Lacks’ cell culture spawned changes in medicine, science, ethics, society and the world. This Semester’s Culture Corner features selections from UT Libraries collection that highlight the areas effected by this one human and her immortal cell.

Intellectual Property And Policy Issues In Biotechnology, Amy Iver Yancey

Masters Theses

Intellectual property, particularly patents, plays a major role in innovation and discovery in biotechnology. Likewise, since the passage of the Bayh-Dole Act in 1981, patents have become an increasingly important factor in U.S. university-driven basic research, especially in the life sciences where patented technologies have transformed agriculture. Specifically, this paper looks at the potential impacts of these trends on university driven research, the university researcher, the pharmaceutical industry, and the farm sector with an emphasis on recent and pending court cases and legislation. This paper examines policy and adoptions issues in biotechnology and biomedicine in depth and touches on important …

Exploring The Effectiveness Of Environmentally Sustainable Practices In Municipal Government: A Case Study Of The City Of Knoxville’S Department Of Parks And Recreation, Anthony Michael Brown

Masters Theses

Sustainability practices produce programs and services that meet current needs while preserving the environment and natural resources for the future. City parks and recreation departments are facing budget shortfalls and increasing expectations from customers. Governments are now embracing sustainability practices to create financial savings while also fostering relations with customers.

The purpose of this single case study was twofold: (1) to examine the effectiveness of one city department’s strategies in outsourcing its environmental sustainability program through a performance contract with Ameresco; and (2) to examine the perceptions of key department employees about the effectiveness of the sustainability initiative. A …

Tying Noncompetitive Goods, Herbert J. Hovenkamp

All Faculty Scholarship

Many of the classic tying cases involved tied products that were common staples such as button fasteners, canned ink, dry ice, or salt. These products were sold in competitive markets, presumably at prices very close to cost. For most of them the most likely explanations for the tie were quality control or price discrimination, both with competitively benign results in the great majority of situations. When the tied good is sold in a noncompetitive market, however, an additional consumer welfare enhancing result is likely to obtain – namely, the elimination of double marginalization, which occurs when separate sellers of complementary …

Multiparty Democracies And Rapid Economic Growth: A Twenty-First Century Breakthrough?, Devin K. Joshi

Research Collection School of Social Sciences

This essay examines whether developing countries with competitive multiparty democracies may be just as capable of sustaining rapid economic growth as single-party states. It begins with a literature review identifying political stability and the ability to mobilize labor and capital production inputs as key factors behind sustained rapid growth. It then develops the hypothesis that under certain conditions, multiparty democracies may be strong in these dimensions, but ceteris paribus, single-party states are likely to have an advantage. I test this hypothesis by exploring historical trends in rapid growth over the last five decades. Statistical regression analysis confirms that most sustained …

A Preface To Neoclassical Legal Thought, Herbert J. Hovenkamp

All Faculty Scholarship

Most legal historians speak of the period following classical legal thought as “progressive legal thought.” That term creates an unwarranted bias in characterization, however, creating the impression that conservatives clung to an obsolete “classical” ideology, when in fact they were in many ways just as revisionist as the progressives legal thinkers whom they critiqued. The Progressives and New Deal thinkers whom we identify with progressive legal thought were nearly all neoclassical, or marginalist, in their economics, but it is hardly true that all marginalists were progressives. For example, the lawyers and policy makers in the corporate finance battles of the …

Generic Wish-Lists For State-Centric Policies, Edzia Carvalho

Human Rights & Human Welfare

The Central America depicted in the article under review resembles a region visited by the Four Horsemen of the Apocalypse—colonial Conquest, civil War, Famine and other natural disasters, and poverty, disease and Death. Added to this list of woes are the recent drug-fueled conflict, democratic instability, weak state capacity, and the socio-economic fallout of the economic recession in the United States. While the first half of the article records these problems, the author shifts gears in the second half and provides an array of responses to these challenges, with a forceful recommendation that states in the region focus their efforts …

A Centrist Solution To Central American Violence And Inequality, Devin Joshi

Human Rights & Human Welfare

The northern triangle of Central America (El Salvador, Guatemala, and Honduras) has experienced horrific violence, poverty, and a vicious cycle of human rights violations for decades. Repeated natural disasters and the re-routing of the drug trade through Central America are not helping the situation. On the other hand, nearby Costa Rica has achieved a much higher standard of human rights, public safety, and political stability. Why? Costa Rica has put in place four pillars of development and stability lacking in most other countries in the region: a stronger state, an educated population, inter-racial cooperation, and a more inclusive democracy. For …

Using Monte Carlo Simulations To Establish A New House Price Stress Test, James R. Follain, Seth H. Giertz

Department of Economics: Faculty Publications

The focus of this paper is on the house price stress test (termed ALMO) that was designed to assess the fiscal strength of Fannie Mae and Freddie Mac and, if necessary, to trigger remedial action in order to avert a crisis. We assess whether the ALMO stress test was an adequate representation of an extremely weak housing market, given the best available information leading up to the Great Recession. A Monte Carlo simulation model is developed to estimate the severity of low probability events (i.e., severe house price declines). We illustrate the complexity and subjective nature of the process used …

Building A World-Class System In Ireland’S Financial Crisis, Ellen Hazelkorn

Articles

Irish higher education faces particular difficulties given the severity of its economic crisis. Like other countries, it is engaged in significant system restructuring coupled with managed policy direction. Where Ireland does differ is in its emphasis on a 'whole of country strategy' and commitment that teaching and research go hand-in-hand. This paper looks at the fortunes and mis-fortunes of Irish higher education.

Fiscal Federalism And Nigeria's Development: Comparative Perspectives From Canadian Fiscal Federalism, Olumide Victor Ekanade

Journal of Global Initiatives: Policy, Pedagogy, Perspective

This paper evaluates the historical dynamics that have shaped the development of fiscal federalism in Nigeria and Canada over the years. It contends that certain contradictions have inhibited the efficient and equitable allocation of tax powers and expenditure responsibilities in Nigeria. These include Nigeria's defective federal structure, military rule, Presidential federalism, politicized sharing principles, and the parochial political culture. These absurdities now threaten the stability of the Nigerian federation. The paper submits that the Canadian Federation offers a viable option for renewal with principles such as autonomy of sub national units, the predominance of the civic culture, scientific equalization, and …

Recommendations For Economic Development In Guadalupe, Ca, Larissa Requa Heeren

Master's Theses

It is recommended that the City of Guadalupe prepare and implement a small-scale business expansion and retention program using existing service providers in the area. This type of program model seems to hold the most potential for Guadalupe. A mixed-methods approach including in-depth cases studies of existing economic development programs and an analysis of opportunities and constraints in Guadalupe informs a set recommendations for future economic development in the City. Data was collected in three phases: short interviews with a variety of economic development program staff, short interviews with Guadalupe business owners and City officials and in-depth interviews with staff …

Public-Private Partnership In Atlanta And Houston Metropolitan Areas Of The United States, Andrew Ewoh

Andrew I.E. Ewoh

No abstract provided.

The Role Of Financial Services Advertising On Investors' Decision-Making, Tae Jun Lee

Doctoral Dissertations

The present study assesses the effect of financial services advertising on investors’ decision-making by adopting a two-sided approach: a stimulus-side analysis to document the nature and prevalence of advertising strategies and advertising disclosures being used and a response-side investigation to examine the investors’ processing of and receptiveness to financial services advertising. By performing a content analysis of recently published financial services magazine advertisements, this study provides a contemporary look at whether and how financial services companies inform, persuade, and communicate with average investors. Results from this content analysis method is also used as a foundation to help design realistic test …

The Disability Screening Process And The Labor Market Behavior Of Accepted And Rejected Applicants: Evidence From The Health And Retirement Study, Seth H. Giertz, Jeffrey D. Kubik

Department of Economics: Faculty Publications

This paper uses Social Security earnings records linked to data from the Health and Retirement Study to examine the labor market behavior of rejected and accepted disability applicants prior to their application. We find that rejected applicants have substantially lower earnings and labor force participation rates during the decade prior to application than beneficiaries. Also, we find some evidence of a divergence between these groups, with rejected applicants leaving the labor force at a faster rate than beneficiaries as their application date approaches. One interpretation of these results is that the disability screening process on average separates those who are …

La Génération Perdue: Youth Unemployment In France And The Policies Behind It, Katharine L. O'Kane

Senior Honors Projects

In the 1970s, the world began moving towards free market policies. Open borders, lower taxes, and market-based economies became more prominent as centrally planned governments declined in both number and significance. In order to participate in European trade and to enhance its global position, France also moved towards decentralization. French socialists became less concerned with centralized government, yet continued to preserve their strong national desire to protect French citizens. France experienced substantial growth in its employment costs during the 1980s. By the early 1990s, France introduced labor contracts that better defined the duration of employment. These contracts pressured French companies …

Forest Biomass Utilization In The Southern United States: Resource Sustainability And Policy Impacts, Zhimei Guo

Doctoral Dissertations

As an alternative renewable source for bioenergy, forest biomass has recently drawn more attention from the U.S. government and the general public. Woody biomass policies have been adopted to encourage the new bioenergy industry. A variety of state policy incentives attempt to create a desirable legal climate and lure new firms, imposing two important questions regarding state government policies and the sustainable use of forest resources. This dissertation sheds some light on these questions.

The first paper constructs a woody biomass policy index through scoring each statute and weighting different categories of policies from the vantage point of renewable energy …

World-Class Universities Or World-Class Systems? Rankings And Higher Education Policy Choices, Ellen Hazelkorn

Other resources

Is it always a good thing when a university rises up the rankings and breaks into the top 100? Do rankings raise standards by encouraging competition or do they undermine the broader mission to provide education? Should rankings be used to help decide educational policy and the allocation of scare financial resources? Should policy aim to develop world-class universities or to make the system world-class?

University rankings have dominated headlines and the attention of political and university leaders wherever or whenever they are published or mentioned. Politicians regularly refer to them as a measure of their nation’s economic strengths and …

Beyond The Demographic Transition: The Case Of Japan, Mary Beth Horiai

UNLV Theses, Dissertations, Professional Papers, and Capstones

A combination of declining birthrates and increasing life expectancy in industrial countries has led to aging populations. In addition, more rapidly declining birth rates combined with only slowly increasing life spans has led to declining populations in some countries. These continuing demographic shifts are likely to be accompanied by economic, political and social changes. Japan is unique relative to other countries in four ways: 1) it has reached the condition of aging faster than any other industrialized country, 2) it has the highest life expectancy rate among major industrialized countries, 3) the proportion of elderly population (over 65) is the …

From Brawn To Brains: How Immigration Works For America, Pia Orrenius

Western Migration Conference Series

Bio:

Pia Orrenius is Research Officer and Senior Economist at the Federal Reserve Bank of Dallas and Adjunct Professor at the Hankamer School of Business, Baylor University. Her research focuses on the labor market impacts of immigration, unauthorized immigration, and U.S. immigration policy, and her work has been published in the American Economic Review, Journal of Development Economics, Labour Economics, Industrial and Labor Relations Review, among others. She is coauthor of the book Beside the Golden Door: U.S. Immigration Reform in a New Era of Globalization (2010, AEI Press). Dr. Orrenius is a Research Fellow at …

The Role Of Public-Nonprofit Partnerships In The Delivery Of Public Goods And Services, Andrew Ewoh

Andrew I.E. Ewoh

While collaboration between public and nonprofit sector has a long history in the United States, such partnerships around the world have proliferated with the emergence of new public management that dates back to the early 1990s about a few years after the Romanian citizens gained the right to form nongovernmental organizations. Most scholars see the evolution of the nonprofit sector as a response to the failure of government to provide public goods and services. The purpose of this discourse as it relates to the 9th International Congress theme is to explore the role of public-nonprofit partnerships (PNPs) in accomplishing public …

Booms And Busts: Russia And Its Oil, 1970 To 2011 And Beyond, Cliff Gaddy

Brookings Scholar Lecture Series

For 40 years Russia’s domestic economic and political development and its foreign policy ambitions have been driven by the varying fortunes of its oil and gas wealth. The story continues to play out today, with crucial global consequences. Russia remains the world’s largest producer of oil and gas. It holds the third largest foreign exchange reserves in the world. Understanding the role of Russia’s energy wealth is key to understanding what role the country may play in world energy security and geopolitics in the years ahead.

Resource Control And The Rise Of Militia In The Nigerian Delta Region, Andrew Ewoh, Chux Ibekwe

Andrew I.E. Ewoh

No abstract provided.

Appalachian Regional Development: The Struggle To Find A Past And Maintain A Future, Stephanie Carol Pollitt

Morehead State Theses and Dissertations

A thesis presented to the faculty of the College of Business and Public Affairs at Morehead State University in partial fulfillment of the requirements for the Degree of Master of Public Administration by Stephanie Carol Pollitt on April 8, 2011.

Made In Oman: Promoting Manufacturing And Export In The Sultanate Of Oman, Tyler Philip Eldridge Mcwilliam

Independent Study Project (ISP) Collection

Oman’s manufacturing sector has shown promising growth during the past decades. This paper analyzes the role of the manufacturing and export sector in economic growth and development. Then, after analyzing government policy toward manufacturing in Oman, this paper uses research gathered from companies in Rusayl to determine the biggest problems currently facing manufacturing in Oman and the effectiveness of government policy toward the sector. Problems found included excessive bureaucracy, Omanization, and transport costs. These findings were then presented to the appropriate public institutions, with their reactions documented. Recommendations for change include streamlining government services, expediting the construction of the Gulf …

How Does Light Rail Transit Affect Urban Land Use?, Needham B. Hurst

Economics Honors Projects

This paper estimates the effect of the Hiawatha Light Rail Transit (LRT) line on land use change in Minneapolis, MN, between 2000 and 2010. I use a binomial logit model and find that within the 1-mile submarket near LRT, the effect of distance to LRT stations on land use change had a different radius and magnitude depending on existing land use. The effect of LRT on conversions of low-density housing to denser uses only extended out to 90 feet from stations after LRT went into operation. Vacant and industrial land were the most likely to experience land use change, especially …

Medical Expenditure Measures In The Health And Retirement Study, Dana Goldman, Julie Zissimopoulos, Yang Lu

Yang Lu

This paper reviews out-of-pocket (OOP) medical expenditure measures collected in the Health and Retirement Study (HRS). Medical expenditures are an important cost of poor health. Medical expenditure measures are important for understanding retirement decisions, financial preparation for retirement, and predicting the consequences of health care reform, particularly Medicare reform. Despite the comprehensiveness of the HRS, there are always limitations to what can be learned from population interviews. To assess the quality of current HRS measures of OOP spending, we compare various measures of OOP spending across survey waves to the Medical Expenditure Panel Survey (MEPS) and Medicare Current Beneficiary Survey …