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Articles 1 - 16 of 16
Full-Text Articles in Social and Behavioral Sciences
Green Markets, Eco-Certification, And Equilibrium Fraud, Stephen F. Hamilton, David Zilberman
Green Markets, Eco-Certification, And Equilibrium Fraud, Stephen F. Hamilton, David Zilberman
Economics
Consumers voluntarily pay significant price premiums to acquire unobservable environmental attributes in green markets. This paper considers the performance of eco-certification policy under circumstances where consumers cannot discern environmental attributes in goods, but are able to form rational expectations regarding the extent of illicit activities in the green market. The main results are: (i) fraud is less prevalent in green markets when entry barriers limit the number of firms; (ii) conventional environmental policies on polluting techniques increase the incidence of fraud, and can even preclude the use of non-polluting techniques which would otherwise emerge in green markets; (iii) voluntary eco-certification …
The Anatomy Of An Oil Price Shock, Eric O'N. Fisher, Kathryn G. Marshall
The Anatomy Of An Oil Price Shock, Eric O'N. Fisher, Kathryn G. Marshall
Economics
Oil price shocks do not cause inflation, no matter how close the connection seems to be in our practical experience. But they can cause significant price increases throughout the economy. Tracing the way a sharp increase in the price of crude oil affects prices in various industrial sectors of the U.S. economy suggests how big these increases are. Fortunately, our economy seems better prepared now to weather such shocks than in the 1970s and 1980s.
Tobacco Control Programs And Tobacco Consumption, Michael L. Marlow
Tobacco Control Programs And Tobacco Consumption, Michael L. Marlow
Economics
The Centers for Disease Control and Prevention (CDC) believe that adequate funding of tobacco control programs by all 50 states would reduce the number of adults who smoke by promoting quitting, preventing young people from ever starting, reducing exposure to secondhand smoke, and eliminating disparities in tobacco use among population groups. CDC has established guidelines for comprehensive tobacco control programs, including recommended funding levels, in Best Practices for Comprehensive Tobacco Control Programs (CDC 1999; hereafter called Best Practices). Recommendations are based on best practices in nine program elements: community programs to reduce tobacco use, chronic disease programs to reduce the …
Import Competition And The Probability Of Job Displacement In Us Manufacturing, 1983-1999, Roger White
Import Competition And The Probability Of Job Displacement In Us Manufacturing, 1983-1999, Roger White
Economics
The trade-displacement relationship is examined using observations from the 1984- 2000 Displaced Worker Surveys and corresponding industry data. Increases in import penetration and decreases in import prices correlate with higher displacement rates. Considerable variation in the effects of import competition on displacement probabilities is found across worker types. For example, the estimated displacement probability for a minority female who is not a union member but who has completed some college coursework ranges from 6.44 to 7.13 percent. This is significantly higher than the range estimated (1.02 to 1.24 percent) for collegeeducated, white, male union members. Setting import competition values equal …
Official Representations Of The Nation: Comparing The Postage Stamps Of Sudan And Burkina Faso, Michael Kevane
Official Representations Of The Nation: Comparing The Postage Stamps Of Sudan And Burkina Faso, Michael Kevane
Economics
An analysis of the imagery on postage stamps suggests that regimes in Burkina Faso and Sudan have pursued very different strategies in representing the nation. Sudan's stamps focus on the political center and dominant elite (current regime, Khartoum politicians, and Arab and Islamic identity) while Burkina Faso's stamps focus on society (artists, multiple ethnic groups, and development). Sudan's stamps build an image of the nation as being about the northern-dominated regime in Khartoum (whether military or parliamentary); Burkina Faso's stamps project an image of the nation as multi-ethnic and development-oriented.
Rivalry In Price And Variety Among Supermarket Retailers, Timothy J. Richards, Stephen F. Hamilton
Rivalry In Price And Variety Among Supermarket Retailers, Timothy J. Richards, Stephen F. Hamilton
Economics
Recent theoretical models of retail competition suggest that product heterogeneity is critical to retail price and variety strategies. This article provides empirical evidence on supermarket retailers' price and variety strategies using a nested constant elasticity of substitution (NCES) modeling framework. The model is estimated using chain-level scanner data for four major grocery chains in a large, urban West Coast market. The results show that retailers compete for market share using both price and variety. While they all tend to follow moderately cooperative pricing strategies, the extent to which they follow cooperative strategies in variety is less homogeneous.
Priors That Do Not Rule Out Strategic Uncertainty Cannot Lead To Nash Equilibrium, Eduardo Zambrano
Priors That Do Not Rule Out Strategic Uncertainty Cannot Lead To Nash Equilibrium, Eduardo Zambrano
Economics
Consider a two player game that is to be played once. The players receive information that they use to help them predict the choices made by each other. A decision rule for each player captures how each player uses the information received in making their choices. Priors in this context are probability distributions over the information that may be received and over the decision rules that their opponents may use. I investigate the existence of prior beliefs for each player that satisfy the following properties: (R) they do not rule out their opponent using a rational decision rule, (K) they …
Women’S Access To Credit In Sub-Saharan Africa: Sudan, Michael Kevane, Endre Stiansen
Women’S Access To Credit In Sub-Saharan Africa: Sudan, Michael Kevane, Endre Stiansen
Economics
Women in Sudan have been largely excluded from formal financial institutions of the Anglo-Egyptian and independent Sudan, even as they have demonstrated the ability and desire to profit from financial transactions. The exclusion is not based on legal criteria, but rather on informal practices that control institutions of the formal sector. However, women –particularly in urban areas of northern Sudan – have access to informal financial institutions, and in recent years there have been some attempts by non-governmental organizations (NGOs) to offer financial services, especially loans at discounts, to women
Communications, Alexander J. Field
Communications, Alexander J. Field
Economics
The communications sector of an economy comprises a range of technologies, physical media, and institutions/rules that facilitate the storage of information through means other than a society's oral tradition and the transmission of that information over distances beyond the normal reach of human conversation. This chapter provides data on the historical evolution of a disparate range of industries and institutions contributing to the movement and storage of information in the United States over the past two centuries. These include the U.S. Postal Service, the newspaper industry, book publishing, the telegraph, wired and cellular telephone service, radio and television, and the …
Naked Slotting Fees For Vertical Control Of Multi-Product Retail Markets, Robert Innes, Stephen F. Hamilton
Naked Slotting Fees For Vertical Control Of Multi-Product Retail Markets, Robert Innes, Stephen F. Hamilton
Economics
Slotting fees are fixed charges paid by food manufacturers to retailers for access to the retail market. This note considers this practice in the context of multi-product markets with imperfectly competitive retailers, a monopoly supplier of one good, and competitive suppliers of other goods. We show how the monopolist and the retailers can use "naked" slotting fees–charges imposed on the suppliers of other goods–to obtain vertically integrated monopoly profits.
Technological Change And U.S. Productivity Growth In The Interwar Years, Alexander J. Field
Technological Change And U.S. Productivity Growth In The Interwar Years, Alexander J. Field
Economics
Manufacturing contributed almost all—83 percent—of the growth of total factor productivity in the U.S. private nonfarm economy between 1919 and 1929. During the depression manufacturing TFP growth was not as uniformly distributed, and only half as rapid, accounting for only 48 percent of PNE TFP growth. Yet the overall growth of the residual between 1929 and 1941 was the highest of any comparable period in the twentieth century. This resulted from the combination of a still potent manufacturing contribution with advances in transportation, public utilities, and distribution, fueled in part by investments in public infrastructure.
The Forward Premium In A Model With Heterogeneous Prior Beliefs, Eric O'N. Fisher
The Forward Premium In A Model With Heterogeneous Prior Beliefs, Eric O'N. Fisher
Economics
This paper explores a model of bond prices where agents have diverse prior beliefs about domestic and foreign inflation. In the long run, the foreign exchange forward premium reflects expected differences in inflation, but in the short run, it depends upon the diversity of prior beliefs. If some people have diffuse priors about a country's inflation process, then its currency commands a forward premium that is eventually dissipated. Using data on the dollar–mark premium from the 1980s, it shows that this kind of diversity really matters. Thus models with a single representative agent give an inadequate description of the data.
Testing Monetary Policy Intentions In Open Economies, Jim Granato, Melody Lo, M.C. Sunny Wong
Testing Monetary Policy Intentions In Open Economies, Jim Granato, Melody Lo, M.C. Sunny Wong
Economics
Temple (2002) argues that the inflation level used in Romer (1993) lacks power in revealing the policy intentions of monetary authorities. Temple also points out that Romer's use of the openness--inflation correlation cannot be explained by time consistency theory. In this article, we demonstrate that more open economies experience less inflation volatility and persistence. We attribute our findings to the hypothesis that monetary authorities in more open economies adopt more aggressive monetary policies. This pattern emerges strongly after 1990. Our results indicate that the near-universal regime shift in 1990 is not just a simple process of increased monetary policy aggressiveness, …
Dim Delobsom: French Colonialism And Local Response In Upper Volta, Michael Kevane
Dim Delobsom: French Colonialism And Local Response In Upper Volta, Michael Kevane
Economics
Dim Delobsom was one of the first indigenous colonial bureaucrats in the French administration of Upper Volta. Born in 1897, he rapidly rose through the ranks of colonial administration, becoming a high-level functionary. He also served as the resident anthropologist of the dominant Mossi tribe of Upper Volta, and published numerous books and articles on Mossi customs. Delobsom fell afoul of an important faction of the colonial apparatus, however, when he decided to assume the chieftaincy of his natal village upon his father's death. Colonial officials and French Catholic priests thought he would be compromised as a bureaucrat-chief, and sought …
Technical Change And Us Economic Growth: The Interwar Period And The 1990s, Alexander J. Field
Technical Change And Us Economic Growth: The Interwar Period And The 1990s, Alexander J. Field
Economics
Multifactor productivity growth in the U.S. economy between 1919 and 1929 was almost entirely attributable to advance within manufacturing. Distributing steam power mechanically over shafts and belts required multistory buildings for economical operation. The widespread diffusion of electric power permitted a shift to single story layouts in which goods flow could be optimized around work stations powered by small electric motors. Within this framework, as well as opportunities to produce a variety of new products, economies of scale and learning by doing permitted rapid and across the board gains in manufacturing productivity. The sector contributed 83 percent of the 2.02 …
New Evidence On Race Discrimination Under "Separate But Equal", Bradley A. Hansen, Mary Eschelbach Hansen
New Evidence On Race Discrimination Under "Separate But Equal", Bradley A. Hansen, Mary Eschelbach Hansen
Economics
Recently uncovered data on teachers’ salaries in Virginia in 1906 allow for more precise and consistent estimations of marginal returns to certification and formal education than had been available in previous studies. Virginia's “separate but equal” educational system paid black teachers in rural counties lower wages than it paid white teachers and on average paid a lower premium to blacks for certification and formal education than it paid to whites. In incorporated cities, returns to certification and normal school education were about the same for black teachers and white teachers, although average salaries were lower for black teachers.