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Full-Text Articles in Business
Toward A Total-Cost Approach To Environmental Instrument Choice, Daniel H. Cole, Peter Z. Grossman
Toward A Total-Cost Approach To Environmental Instrument Choice, Daniel H. Cole, Peter Z. Grossman
Scholarship and Professional Work - Business
Much of the theoretical literature on environmental instrument reflects a normative presumption that only "economic" instruments, such as effluent taxes or tradable quotas, can produce an efficient outcome. Other potential alternatives, such as non-tradable quotas or more general Pigovian taxes are ruled out as inherently inefficient. Moreover, most of the literature relies on an important but unwarranted presumption: that cost and benefit functions, although they may be subject to uncertainty, are identical regardless of the regime that is chosen; that is price and quota systems are assumed to face the same cost and benefit curves with the same expected values. …
Mexican Peso Futures And Exchange Rate Volatility, Roberto Curci, Cynthia J. Brown
Mexican Peso Futures And Exchange Rate Volatility, Roberto Curci, Cynthia J. Brown
Scholarship and Professional Work - Business
The reintroduction of Mexican peso futures contracts in April 1995 resulted from a refocus of governmental policy to the use of market-based mechanisms to stabilize the exchange rate. Interest in the Mexican peso future contracts has been high as investors look to manage their exposure from transactions and investments denominated in pesos. This study utilizes a VAR framework to analyze the relationship between the volatility in theMexican peso spot market and futures contracts trading activity. Shocks to the exchange rate volatility lead to increased hedging-type activity. Furthermore, an increase in futures contracts trading activity (reflecting additional speculation-type activity) results in …
The Meaning Of Property Rights: Law Versus Economics? , Daniel H. Cole, Peter Z. Grossman
The Meaning Of Property Rights: Law Versus Economics? , Daniel H. Cole, Peter Z. Grossman
Scholarship and Professional Work - Business
Property rights are fundamentals to economic analysis. There is, however, no consensus in the economic literature about what property rights are. Economists define them variously and inconsistently, sometimes in ways that deviate from the conventional understandings of legal scholars and judges. This article explores ways in which definitions of property rights in the economic literature diverge from conventional legal understandings, and how those divergences can create interdisciplinary confusion and bias economic analyses. Indeed, some economists' idiosyncratic definitions of property rights, if used to guide policy, could lead to suboptimal economic outcomes.
The Existence Of Gender-Specific Promotion Standards In The U.S., Kathy Paulson Gjerde
The Existence Of Gender-Specific Promotion Standards In The U.S., Kathy Paulson Gjerde
Scholarship and Professional Work - Business
This paper is motivated by the claim that promotion probabilities are lower for women than men. Using data from the 1984 and 1989 National Longitudinal Youth Surveys, this paper tests this claim and two related hypotheses concerning training and ability. It is found that females are less likely to be promoted than males, and females receive less training than males. The relationship between promotion and gender varies across occupations, however, suggesting that the alleged glass ceiling faced by women and other minorities in the workplace is not uniform across all labor markets.