Compensatory Restoration In A Random Utility Model Of Recreation Demand, 2009 University of Delaware
Compensatory Restoration In A Random Utility Model Of Recreation Demand, George R. Parsons, Ami K. Kang
George Parsons
Natural Resource Damage Assessment cases often call for compensation in non-monetary or restoration equivalent terms. In this paper we present an approach that uses a conventional economic model, a travel-cost random utility model of site choice, to determine compensatory restoration equivalents for hypothetical beach closures on the Gulf Coast of Texas. Our focus is on closures of beaches on the Padre Island National Seashore and compensation for day-trip users. We use a mixed logit site choice model in our application with revealed preference data. Using the random utility model we identify restoration projects (changes in beach characteristics) that pass a …
Effects Of Information About Invasive Species On Risk Perception And Seafood Demand By Gender And Race, 2009 Ohio State University
Effects Of Information About Invasive Species On Risk Perception And Seafood Demand By Gender And Race, Timothy C. Haab, John C. Whitehead, George R. Parsons, Jamie Price
George Parsons
In this paper we consider the effects of negative and positive risk information on perceived seafood risks and seafood consumption by gender and race. The data is from a Mid-Atlantic survey of coastal seafood consumers. We elicit risk perceptions in three risk scenarios with a dichotomous choice with a follow-up question format. We elicit continuous revealed and stated preference seafood consumption in nine risk and price scenarios. Analysis in four gender and race categories indicates that demographic groups respond to the positive and negative information in different ways. Communication of risk information as risk mitigation policy is a challenge.
Measuring The Recreational Use Value Of Migratory Shorebirds: A Stated Preference Study Of Birdwatching On The Delaware Bay, 2009 University of Delaware
Measuring The Recreational Use Value Of Migratory Shorebirds: A Stated Preference Study Of Birdwatching On The Delaware Bay, Kelley H. Myers, George R. Parsons, Peter E T Edwards
George Parsons
In this article we estimate the recreational use value of household trips to view shorebirds during the annual horseshoe crab/shorebird migration on the Delaware Bay. We use contingent valuation to estimate the value of day and overnight trips separately and use a discrete choice question followed by a payment-card question to generate our valuation data. Our best estimates for the value of a day trip is about $66 - $90/household and for an overnight trip is about $200 - $425/household (2008$). Our data are from the 2008 season, and our average household size is 1.66. For some context, estimates from …
Fiscal Decentralization And Fiscal Consolidations In Emerging Market Economies, 2009 University of Wales, Bangor
Fiscal Decentralization And Fiscal Consolidations In Emerging Market Economies, John Thornton
John Thornton
Results using event study analysis based on a data panel of expenditure and revenue developments in emerging market economies during 1972–2001 indicate that subnational governments supported fiscal consolidation efforts by cutting their capital expenditure and increasing their revenues.
Government Size And The Stability Of Output: Evidence From Emerging Market Economies, 2009 University of Wales, Bangor
Government Size And The Stability Of Output: Evidence From Emerging Market Economies, John Thornton
John Thornton
Fata ́ s and Mihov (2001a, b) reported a negative and statistically significant relation between government size and output variability in a cross-section of 20 Organization for Economic Cooperation and Development (OECD) countries and concluded that large governments stabilize output. This conclusion does not appear to be valid for Emerging Market Economies (EMEs). Results from cross-section and combined cross-section and time series regressions for a sample of 21 EMEs for the period 1970 to 2001 indicate that the relation between government size and output volatility is statistically significant and positive.
Who Chooses To Adopt Fiscal Responsibility Laws? Evidence From Emerging Market Economies, 2009 University of Wales, Bangor
Who Chooses To Adopt Fiscal Responsibility Laws? Evidence From Emerging Market Economies, John Thornton
John Thornton
In recent years, at least 10 emerging market economies have sought to anchor their fiscal frameworks in fiscal responsibility laws. Key factors in the decision appear to include a prior improvement in fiscal discipline, particularly in the context of a federal fiscal system, substantial ethnic fractionalization and vulnerability to adverse shocks, such as real exchange rate volatility and inflation.
Fiscal Sustainability In A Panel Of Asian Countries, 2009 University of Wales, Bangor
Fiscal Sustainability In A Panel Of Asian Countries, John Thornton
John Thornton
Panel cointegration techniques indicate that government revenue (REV) and expenditure (EXP) in a panel of five Asian economies for the period 1974 to 2001 were nonstationary and cointegrated series. However, the cointegration coefficient was significantly less than unity, indicating ‘weak’ fiscal sustainability and the likelihood that policy measures would be needed to put the public finances on a more sustainable basis
The Effects Of The 1996 U.S.-Canada Softwood Lumber Agreement On The Industrial Users Of Lumber: An Event Study, 2009 University of British Columbia
The Effects Of The 1996 U.S.-Canada Softwood Lumber Agreement On The Industrial Users Of Lumber: An Event Study, Nisha Malhotra, Sumeet Gulati
Nisha Malhotra
In this article, we analyze whether the Softwood Lumber Agreement between the United States and Canada imposed significant economic costs on industries that use softwood lumber in the United States. To ascertain this impact, we use an event study. Our event study analyzes variations in the stock prices of lumber-using firms listed at the major stock markets in the United States. We find that the news of events leading to the Softwood Lumber Agreement had significant negative impacts on the stock prices of industries using softwood lumber. The average reduction of stock prices for our sample of firms was approximately …
Black Tuesday And Graying The Legitimacy Line For Governmental Intervention: When Tomorrow Is Just A Future Yesterday, 2009 Chapman University School of Law
Black Tuesday And Graying The Legitimacy Line For Governmental Intervention: When Tomorrow Is Just A Future Yesterday, Donald J. Kochan
Donald J. Kochan
Black Tuesday in October 1929 marked a major crisis in American history. As we face current economic woes, it is appropriate to recall not only the event but also reflect on how it altered the legal landscape and the change it precipitated in the acceptance of governmental intervention into the marketplace. Perceived or real crises can cause us to dance between free markets and regulatory power. Much like the events of 1929, current financial concerns have led to new, unprecedented governmental intervention into the private sector. This Article seeks caution, on the basis of history, arguing that fear and crisis …
Lessons Of The Alaska Dividend, 2009 Georgetown University-Qatar
Lessons Of The Alaska Dividend, Karl Widerquist
Karl Widerquist
At a time when progressive social policies are under attack across the industrialized world, the Alaska Dividend continues to be extremely popular. It distributes a yearly dividend to every man, woman, and child in Alaska without any conditions whatsoever. It has helped Alaska maintain one of the lowest poverty rates in the United States. It has helped Alaska become the most economically equal of all 50 states. And it has helped Alaska become the only U.S. state in which equality has risen rather than fallen over the last 20 years. Certainly Alaska is doing something right. As newsletter editor for …
Book Review: The Street Porter And The Philosopher: Conversations On Analytical Egalitarianism, 2009 Georgetown University-Qatar
Book Review: The Street Porter And The Philosopher: Conversations On Analytical Egalitarianism, Karl Widerquist
Karl Widerquist
No abstract provided.
What Drives Food Import Refusals?, 2009 University of Illinois at Urbana-Champaign
What Drives Food Import Refusals?, Kathy Baylis, Andrea Martens, Lia Nogueira
Kathy Baylis
No abstract provided.
Trade Diversion From Tomato Suspension Agreement, 2009 University of Illinois at Urbana-Champaign
Trade Diversion From Tomato Suspension Agreement, Kathy Baylis, Jeffrey M. Perloff
Kathy Baylis
: Trade barriers can cause output to be diverted to other countries and into other products. We study the effect of a voluntary price restraint (VPR) on Mexican tomatoes entering the United States. The diversion caused by the VPR is statistically and economically significant – representing over four-fifths of the direct effects of the trade barrier. When the VPR was binding, Mexico exported more tomatoes to Canada, the United States cut back on exports while Canada increased their exports to the United States. The VPR also diverted fresh tomatoes in Mexico into paste production, which was then exported to the …
(Re)Scaling Gender And Globalization: Livelihood Strategies In Accra, Ghana, 2009 West Virginia University
(Re)Scaling Gender And Globalization: Livelihood Strategies In Accra, Ghana, Ann M. Oberhauser
Ann Oberhauser
Salud Y Felicidad En Uruguay, 2009 Universidad del Uruguay - Departamento de Economía (dECON)
Salud Y Felicidad En Uruguay, Maximo Rossi, Todd Jewell, Mariana Gerstenblüth
Maximo Rossi
In this paper we study the relationship between individual happiness and self reported health status, using the Religion, Health and Young Emancipation ISSP survey for Uruguay in 2008. Probit estimates suggests that health status has the highest correlation with happiness. In order to control for the observed heterogeneity of this variable, we estimate using matching methods. Results show that reporting a good health rises the probability of being happy between 18 an 29 percentage points. Previous literature support this findings.
Employee Voice And Intent To Leave: An Empirical Evidence Of Pakistani Banking Sector, 2009 National College of Business Administration and Economics, Lahore
Employee Voice And Intent To Leave: An Empirical Evidence Of Pakistani Banking Sector, Ahmed Imran Hunjra, Muhammad Asghar Ali, Muhammad Irfan Chani, Hashim Khan, Kashif Ur Rehman
Muhammad Irfan Chani
A Note On Causal Relationship Between Fdi And Savings In Bangladesh, 2009 National College of Business Administration and Economics, Lahore
A Note On Causal Relationship Between Fdi And Savings In Bangladesh, Mohammad Salahuddin, Muhammad Shahbaz Shahbaz, Muhammad Irfan Chani
Muhammad Irfan Chani
This paper aims to investigate the causal relationship between foreign direct investment and gross domestic savings in Bangladesh over a period of 1985-2007. In doing so, Johansen cointegration technique and error correction methods are employed to examine the long run and short run relationship between foreign direct investment and gross domestic savings. To determine the direction of causality, we used innovation accounting approach. Results suggest that there exist bi-directional causal relationship between foreign direct investment and gross domestic savings but the movement is stronger from domestic savings to foreign direct investment. The result also implies complimentary relationship between them and …
Comment On Casey Mulligan: Keynes In Both Fresh And Salt Water, 2009 Federal University of Santa Catarina
Comment On Casey Mulligan: Keynes In Both Fresh And Salt Water, Sergio Da Silva
Sergio Da Silva
Casey Mulligan suggested in The Economists' Voice that this recession was caused by "something [that] made real wages high and employment low." This coincides with his own view of the causes of the Great Depression. The similarity inevitably brings back General-Theory-Keynes, according to Da Silva, and justifies the suspicion of some salt water economists that Mulligan is blaming both downturns on laziness.
The Future Of Economics Is Scientific, 2009 Federal University of Santa Catarina
The Future Of Economics Is Scientific, Sergio Da Silva
Sergio Da Silva
No abstract provided.
Biological Characteristics Modulating Investor Overconfidence, 2009 University of Brasilia
Biological Characteristics Modulating Investor Overconfidence, Marcia L. Zindel, Emilio Menezes, Raul Matsushita, Sergio Da Silva
Sergio Da Silva
Applying a standard questionnaire (Lichtenstein and Fischhoff 1977) to a sample of 44 professional investors, we sought for explicit correlations between selected biological characteristics of the investors and the cognitive bias known as overconfidence. We found that both male and female investors showed overconfidence above the subjective probability of 0.7 and underconfidence below this threshold. But the sexes seemed to behave differently when they were totally uncertain of their answers. Experienced and inexperienced investors were overconfident whenever they were 70 percent (or above) confident of their answers. Despite that, experienced investors were relatively more calibrated. Of those who were highly …