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Global Climate Policywill Have Net Benefits Larger Than Anyone Thinks (And Welfare Gains, Strangely, Are Likely To Be Much Larger Yet), PHILIP E. GRAVES 2017 University of Colorado at Boulder

Global Climate Policywill Have Net Benefits Larger Than Anyone Thinks (And Welfare Gains, Strangely, Are Likely To Be Much Larger Yet), Philip E. Graves

PHILIP E GRAVES

As with other public goods lacking strong special interest support, global climate policy suffers from two serious
theoretical flaws. The first is failure to endogenize the labor-leisure decision when conducting benefit-cost analysis.
Recognition that income generated will not remain the same pre-and-post policy results in downward bias
in benefit estimation. Much more importantly, there will generally be free riding in input markets in addition to
the well-known output demand revelation problem. Since even households with very high marginal values cannot
individually increment public goods, too little income will be generated and too much of the income that is
generated will ...


Farm Organizations And Farm Profits In Tama County, Iowa, Clifford C. Taylor, Edgar B. Hurd 2017 Iowa State College

Farm Organizations And Farm Profits In Tama County, Iowa, Clifford C. Taylor, Edgar B. Hurd

Research Bulletin (Iowa Agriculture and Home Economics Experiment Station)

To learn in detail how farmers in Tama County, Iowa, have combined the elements of their businesses into going concerns, and the financial results which have attended their attempt to secure the most profitably organized farm, is the purpose of this study. It seeks not only to learn the" anatomy" or organization, but also, as far as possible, the" physiology", or operation, of the farming business as found in this area. It compares the organization of these farms in 1921 with that in 1918 and in 1913. These three years, for which data have been secured, represent pre-war conditions, war-time ...


Modelling Public-Education Spending Vs. Allocation As Independent Factors Of Educational Outcomes, Kevin Tasley 2017 Southern New Hampshire University

Modelling Public-Education Spending Vs. Allocation As Independent Factors Of Educational Outcomes, Kevin Tasley

Undergraduate Economic Review

This paper explores and expands upon the work of Hanushek and Wößmann (2007) whose accumulated findings propose increased educational spending provides only marginal returns in terms of student’s cognitive outcomes. This study constructs an OLS regression model to explore the significance of U.S. state education spending and financial allocations as independent factors of state-level average ACT scores over a 10-year time series. The model additionally accounts for self-selection and socio-economic status. The results of this study support Hanushek and Wößmann’s conclusions while also demonstrating evidence that shifts in allocations towards instructional spending, as opposed to increasing total ...


Economic Evaluation Of Governor Branstad’S Water Quality Initiative, Dermot J. Hayes, Catherine L. Kling, John D. Lawrence 2017 Iowa State University

Economic Evaluation Of Governor Branstad’S Water Quality Initiative, Dermot J. Hayes, Catherine L. Kling, John D. Lawrence

Catherine Kling

Governor Branstad has proposed an initiative that would significantly increase state spending on water quality. This document examines the economic costs and benefits of such a proposal. As with previous work on this topic, this economic evaluation uses the state’s Iowa Nutrient Reduction Strategy to measure costs and research results on water quality benefits from Iowa State University’s Center for Agricultural and Rural Development. In doing an economic evaluation of this type, the reader should understand these important points: 1. A calculation of Iowa Nutrient Reduction Strategy costs with current strategies can be determined. The costs in labor ...


Iowa’S Wetlands: Who Will Pay For Preservation?, Joseph A. Herriges Sr., Catherine L. Kling 2017 Iowa State University

Iowa’S Wetlands: Who Will Pay For Preservation?, Joseph A. Herriges Sr., Catherine L. Kling

Catherine Kling

It is estimated that before the 1750s, Iowa had around 2.3 million acres of wetlands. Today, Iowa has about 35,000 acres, with over 98 percent of the original wetlands converted to other uses—primarily agricultural production.


Public Finance In A Nutshell: A Cobb Douglas Teaching Tool For General Equilibrium Tax Incidence And Excess Burden, Don Fullerton, Chi L. Ta 2017 University of Illinois at Urbana-Champaign

Public Finance In A Nutshell: A Cobb Douglas Teaching Tool For General Equilibrium Tax Incidence And Excess Burden, Don Fullerton, Chi L. Ta

Don Fullerton

To help first- or second-year graduate students in economics apply their theoretical training, this paper shows how to solve a simple and intuitive computable general equilibrium (CGE) model using a calculator. Because this simplified Harberger model uses Cobb Douglas functional forms for utility and production, one can solve for all input and output prices and quantities with no taxes and then solve for exact measures of output with a large tax change (not using derivatives). We then show how to solve simultaneously for capital and labor prices (incidence on the sources side of income), for both output prices (incidence on ...


Incomplete Takings, Abraham Bell, Gideon Parchomovsky 2017 University of San Diego

Incomplete Takings, Abraham Bell, Gideon Parchomovsky

Faculty Scholarship

Incomplete takings are vital and extremely common. Yet, they present unique challenges that cannot be resolved by standard rules of eminent domain. In particular, incomplete, or partial, takings may result in the creation of suboptimal parcels, and even unusable and unmarketable ones. Additionally, partial takings create nettlesome assessment problems that do not arise when parcels are taken as a whole. Finally, incomplete takings engender opportunities for inefficient strategic behavior on the part of the government after the partial taking has been carried out. Current partial takings jurisprudence fails to resolve these problems, and, in some instances even exacerbates them.

In ...


Setting Up Living Trusts, Neil E. Harl 2017 Iowa State University

Setting Up Living Trusts, Neil E. Harl

Neil E. Harl

The recent enthusiasm for setting up revocable living trusts is supported by two pluses — (1) a way to assure flexibility in management for property in those later years when individuals may not be in a good position to manage their assets and (2) an opportunity for some simplification in estate settlement. However, several factors of a technical or practical nature should be taken into account before the decision is made to establish a revocable living trust.


Joint Tenancy Disclaimers: What Can Be Disclaimed?, Neil E. Harl 2017 Iowa State University

Joint Tenancy Disclaimers: What Can Be Disclaimed?, Neil E. Harl

Neil E. Harl

For years the Internal Revenue Service resisted the disclaimer of joint tenancy interests on the grounds that the disclaimer had to occur within nine months of the creation of the joint tenancy. IRS eventually came to accept the disclaimer of revocable joint tenancies within nine months after death and even more recently indicated that the Service would not resist the disclaimer of joint tenancy interests in other than revocable joint tenancies where there was a predeath right to sever the joint interests The focus on when joint tenancies could be disclaimed obscured the question of what could be disclaimed.


Disclaiming The Survivorship Interest In Joint Tenancy Property, Neil E. Harl 2017 Iowa State University

Disclaiming The Survivorship Interest In Joint Tenancy Property, Neil E. Harl

Neil E. Harl

No abstract provided.


Capitalizing Preproductive Period Expenditures, Neil Harl 2017 Selected Works

Capitalizing Preproductive Period Expenditures, Neil Harl

Neil E. Harl

Few have forgotten the provision in the Tax Reform Act of 1986 requiring the capitalization of preproductive period expenditures for animals or crops having a preproductive period of more than two years. The provision was repealed as to animals in the Technical and Miscellaneous Revenue Act of 1988. However, problems may now be encountered by those who elected out of the provision before 1989.


Cash Accounting For Farm And Ranch Corporations, Neil E. Harl 2017 Iowa State University

Cash Accounting For Farm And Ranch Corporations, Neil E. Harl

Neil E. Harl

As a new taxpayer, a farm or ranch corporation may elect the cash or accrual methods of accounting if the corporate books are so kept and the method clearly reflects income. Indeed, IRS has ruled that a corporation may report on the cash method of accounting even though books are kept on the accrual method if the corporation maintains work papers reconciling accrual method book income to cash method taxable income. The method of accounting should be elected clearly on the initial corporate income tax return.


Funding Revocable Living Trusts, Neil E. Harl 2017 Iowa State University

Funding Revocable Living Trusts, Neil E. Harl

Neil E. Harl

Without much doubt, the transfer of assets to the trust is the most critical part of the formation of a revocable living trust. Inasmuch as all of the grantor's property should be conveyed to the trust, the obvious question is whether the transfer triggers adverse consequences to the grantor. In general, conveyance of property to a revocable inter vivos trust can be accomplished without negative consequences but the property inventory should be subjected to an itemby- item review before the actual transfer occurs. Here are the major points to consider.


Family Estate Trusts, Neil E. Harl 2017 Iowa State University

Family Estate Trusts, Neil E. Harl

Neil E. Harl

The recent attention to revocable living trusts has led to some confusion with a far less useful concept, the trust referred to variously as the "family estate" trust, "pure" trust, and "constitutional" trust. The latest version of these trusts, all of which are valued as substantially less than worthless, is the two-trust off-shore version or the foreign tax haven double trust. The trusts are mostly sold door-to-door through local contacts who tout the trusts as devices to solve all of one's estate-planning problems. The trusts are purportedly irrevocable, generally for a 25-year term.


Handling Commodity Futures Transactions, Neil E. Harl 2017 Iowa State University

Handling Commodity Futures Transactions, Neil E. Harl

Neil E. Harl

In the same manner as other merchants and manufacturers, farm and ranch taxpayers buy and sell commodity futures to hedge against fluctuating prices. Likewise, farm and ranch taxpayers buy and sell commodity futures as speculators. The principal matter of concern from an income tax perspective in the farm and ranch area is the line between hedging and speculation.


Growing Portland: Not Whether, But How, Richard Barringer, Joseph McDonnell 2017 University of Southern Maine

Growing Portland: Not Whether, But How, Richard Barringer, Joseph Mcdonnell

Muskie School of Public Service

In the 400 years since European settlement, Portland has survived the ravages of war, invasion, pestilence, conflagration, and economic depression and recession. Once a renowned manufacturing, trade, and shipping center, it now enjoys what might be called a post-industrial renaissance as a vibrant center for the arts, education, entertainment, and banking, legal, and medical services; and is frequently cited as one of America’s best small cities. As a result, Portland is growing today and is positioned for more growth.

The question, then, is not whether Portland will grow, but how well it will grow; or, how best to manage ...


The Value Of The Right To Exclude: An Empirical Assessment, Jonathan Klick, Gideon Parchomovsky 2017 University of Pennsylvania Law School

The Value Of The Right To Exclude: An Empirical Assessment, Jonathan Klick, Gideon Parchomovsky

Faculty Scholarship

Property theorists have long deemed the right to exclude fundamental and essential for the efficient use and allocation of property. Recently, however, proponents of the progressive property movement have called into question the centrality of the right to exclude, suggesting that it should be scaled back to allow the advancement of more socially beneficial uses of property. Surprisingly, the debate between the opponents and detractors of the right to exclude is devoid of any empirical evidence. The actual value of the right to exclude remains unknown.

In this Article, we set out to fill this void by measuring, for the ...


Consequences Of The Clean Water Act And The Demand For Water Quality, David A. Keiser, Joseph S. Shapiro 2017 Iowa State University

Consequences Of The Clean Water Act And The Demand For Water Quality, David A. Keiser, Joseph S. Shapiro

CARD Working Papers

Since the 1972 U.S. Clean Water Act, government and industry have invested over $1 trillion to abate water pollution, or $100 per person-year. Over half of U.S. stream and river miles, however, still violate pollution standards. We use the most comprehensive set of files ever compiled on water pollution and its determinants, including 50 million pollution readings from 170,000 monitoring sites, to study water pollution's trends, causes, and welfare consequences. We have three main findings. First, water pollution concentrations have fallen substantially since 1972, though were declining at faster rates before then. Second, the Clean Water ...


A Better Calculus For Regulators: From Cost-Benefit Analysis To The Social Welfare Function, Matthew D. Adler 2017 Duke Law School

A Better Calculus For Regulators: From Cost-Benefit Analysis To The Social Welfare Function, Matthew D. Adler

Faculty Scholarship

The “social welfare function” (SWF) is a powerful tool that originates in theoretical welfare economics and has wide application in economic scholarship, for example in optimal tax theory and environmental economics. This Article provides a comprehensive introduction to the SWF framework. It then shows how the SWF framework can be used as the basis for regulatory policy analysis, and why it improves upon cost-benefit analysis (CBA).

Two types of SWFs are especially plausible: the utilitarian SWF, which sums individual well-being numbers, and the prioritarian SWF, which gives extra weight to the well-being of the worse off. Either one of these ...


Mental Health, Race, And Deadly Use Of Force, Olugbenga Ajilore 2016 University of Toledo

Mental Health, Race, And Deadly Use Of Force, Olugbenga Ajilore

Olugbenga Ajilore

This study explored the relationship between suspected mental illness and officer-involved shootings, using data from an independently sourced database. The results showed that African Americans were more likely to be victims of fatal officer-involved shootings, and this likelihood increased for those who displayed signs of mental illness. These findings highlight two important issues: the collection of data regarding officer-involved shootings should include details regarding signs of mental illness, and documentation of the type of mental health issues involved in these incidents should be improved.


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