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Social and Behavioral Sciences Commons™
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- Political Economy (4)
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Articles 1 - 23 of 23
Full-Text Articles in Social and Behavioral Sciences
The Restructuring Regulator: A Guidebook And Research Agenda For The Electricity Industry, Peter Navarro
The Restructuring Regulator: A Guidebook And Research Agenda For The Electricity Industry, Peter Navarro
PETER NAVARRO
No abstract provided.
Garbage, Recycling, And Illicit Burning Or Dumping, Don Fullerton, Thomas C. Kinnaman
Garbage, Recycling, And Illicit Burning Or Dumping, Don Fullerton, Thomas C. Kinnaman
Thomas C. Kinnaman
With garbage and recycling as the only two disposal options, we confirm prior results that the optimal curbside fee for garbage collection equals the direct resource cost plus external environmental cost. When illicit burning or dumping is a third disposal option that cannot be taxed directly, the optimal curbside tax on garbage changes sign. The optimal fee structure is a deposit-refund system: a tax on all output plus a rebate on proper disposal through either recycling or garbage collection. The output tax helps achieve the first-best allocation even though it affects the choice between consumption and untaxed leisure.
Garbage, Recycling, And Illicit Burning Or Dumping, Don Fullerton, Thomas C. Kinnaman
Garbage, Recycling, And Illicit Burning Or Dumping, Don Fullerton, Thomas C. Kinnaman
Don Fullerton
With garbage and recycling as the only two disposal options, we confirm prior results that the optimal curbside fee for garbage collection equals the direct resource cost plus external environmental cost. When illicit burning or dumping is a third disposal option that cannot be taxed directly, the optimal curbside tax on garbage changes sign. The optimal fee structure is a deposit-refund system: a tax on all output plus a rebate on proper disposal through either recycling or garbage collection. The output tax helps achieve the first-best allocation even though it affects the choice between consumption and untaxed leisure.
On The Evolution Of Altruistic Ethical Rules For Siblings, Ted Bergstrom
On The Evolution Of Altruistic Ethical Rules For Siblings, Ted Bergstrom
Ted C Bergstrom
This paper explores the evolutionary foundations of altruism among siblings and extends biologists' kin-selection theory to a richer class of games between relatives. It shows that a population will resist invasion by dominant mutant genes if individuals maximize a "semi-Kantian" utility function in games with their siblings. It is shown that a population that resists invasion by dominant mutants may be invaded by recessive mutants. Conditions are found under which a population resists invasion by dominant and also by recessive mutants. (JEL C70, D10, D63)
The Cost Effectiveness Of Preoperative Autologous Blood Donations, Jeff Etchason, Lawrence Petz, Emmett Keeler, Loni Calhoun, Steven Kleinman, Cynthia Snider, Arlene Fink, Robert Brook
The Cost Effectiveness Of Preoperative Autologous Blood Donations, Jeff Etchason, Lawrence Petz, Emmett Keeler, Loni Calhoun, Steven Kleinman, Cynthia Snider, Arlene Fink, Robert Brook
Emmett Keeler
Background: Since the recognition that human immunodeficiency virus is transmissible by blood transfusion there has been increasing public and professional support for autologous blood donations before elective surgery. Autologous blood donation is, however, a more expensive process than the donation of allogeneic blood by community volunteers. Furthermore, there have been recent improvements in the safety of the volunteer blood supply. Methods: We used a decision-analysis model to assess the cost effectiveness of donating autologous blood for four surgical procedures. Cost data were collected from the observation of transfusion practice at the University of California, Los Angeles, in 1992. Estimates of …
Earnings Inequality In Germany, Susan Houseman, Katharine Abraham
Earnings Inequality In Germany, Susan Houseman, Katharine Abraham
Susan N. Houseman
No abstract provided.
Modeling Volatility Dynamics, Douglas Steigerwald
Modeling Volatility Dynamics, Douglas Steigerwald
Douglas G. Steigerwald
No abstract provided.
Job Growth And The Quality Of Jobs In The U.S. Economy, Susan Houseman
Job Growth And The Quality Of Jobs In The U.S. Economy, Susan Houseman
Susan N. Houseman
No abstract provided.
The Tradeoff Between Oligopsony Power And Cost Efficiency In Horizontal Consolidation: An Example From Beef Packing, John Schroeter, Azzeddine Azzam
The Tradeoff Between Oligopsony Power And Cost Efficiency In Horizontal Consolidation: An Example From Beef Packing, John Schroeter, Azzeddine Azzam
Azzeddine Azzam
In this paper, the authors model the trade-off between regional oligopsony power and cost efficiency resulting from consolidation in a food processing industry. The model can be used to calculate the cost reductions necessary to offset the anticompetitive effects of market power and to compare them to actual cost savings achieved through plant scale or multiplant operating economies. For an application, the authors choose the beef packing industry. For this case, they find that the estimated cost savings necessary to neutralize the anticompetitive effects of consolidation in beef packing are about half the actual cost savings from scale economies.
Labor Adjustment Under Different Institutional Structures: A Case Study Of Germany And The United States, Katharine Abraham, Susan Houseman
Labor Adjustment Under Different Institutional Structures: A Case Study Of Germany And The United States, Katharine Abraham, Susan Houseman
Susan N. Houseman
No abstract provided.
It Pays To Be Green: The Managerial Incentive Structure And Environmentally Sound Strategies, Giulio M. Gallarotti
It Pays To Be Green: The Managerial Incentive Structure And Environmentally Sound Strategies, Giulio M. Gallarotti
Giulio M Gallarotti
The traditional view in management circles about the relationship between the environment and business can best be summed up as pollution pays, pollution prevention doesn't. Notwithstanding the recent proliferation of literature on the benefits of green management, many managers continue to see environmentally sound strategies as detrimental to the principal goals of profitability, maintaining markets, controlling costs and efficient production. Such conclusions about the environmental drag on business are based on mistaken assumptions about the incentives businesses encounter. Stricter government regulation of the environment in developed nations changed the equation. There are also many opportunities for managers to profit from …
Restrictiong Taxation: The Impact Of Proposition 13 On California Tax And Expenditure Trends, Robert L. Sexton, Gary M. Galles
Restrictiong Taxation: The Impact Of Proposition 13 On California Tax And Expenditure Trends, Robert L. Sexton, Gary M. Galles
Robert L Sexton
No abstract provided.
Union Myopia And The Taxation Of Capital, Dwight Lee, Robert L. Sexton, Philip E. Graves
Union Myopia And The Taxation Of Capital, Dwight Lee, Robert L. Sexton, Philip E. Graves
Robert L Sexton
After an extensive discussion of the nature of the interactions among unions, corporations, and government, we find that government in granting privileges to workers organized into unions implicitly taxes capital formation. The result has been to lessen the attention business decisions pay to the future, to substitute excessive wages for appropriate capital investment, and to reduce the competitive vitality of major U.S. industries.
Restricting Taxation: The Impact Of Proposition 13 On California Tax And Expenditure Trends, Robert L. Sexton, Gary M. Galles, James E. Long
Restricting Taxation: The Impact Of Proposition 13 On California Tax And Expenditure Trends, Robert L. Sexton, Gary M. Galles, James E. Long
Robert L Sexton
Abstract: This paper examines trends in California taxes and expenditures at the state and local level. In particular, it considers whether Proposition 13, which has been blamed by politicians and the press for virtually every ensuing fiscal problem facing state and local governments in California, deserves such criticism, or whether the roots of those problems lie elsewhere.
Union Myopia And The Taxation Of Capital, Dwight Lee, Robert L. Sexton, Philip E. Graves
Union Myopia And The Taxation Of Capital, Dwight Lee, Robert L. Sexton, Philip E. Graves
Robert L Sexton
After an extensive discussion of the nature of the interactions among unions, corporations, and government, we find that government in granting privileges to workers organized into unions implicitly taxes capital formation. The result has been to lessen the attention business decisions pay to the future, to substitute excessive wages for appropriate capital investment, and to reduce the competitive vitality of major U.S. industries.
Volatility, Douglas G. Steigerwald, Stephen Leroy
Volatility, Douglas G. Steigerwald, Stephen Leroy
Douglas G. Steigerwald
How should one determine if capital markets are efficient? We examine the statistical foundations of tests of efficiency.
Energy Tax Credits And Residential Conservation Investment: Evidence From Panel Data (With Kevin Hassett), Gilbert E. Metcalf
Energy Tax Credits And Residential Conservation Investment: Evidence From Panel Data (With Kevin Hassett), Gilbert E. Metcalf
Gilbert E. Metcalf
Using panel data on individual tax returns and variation in state tax policy, we measure the impact of government tax policies to encourage residential conservation investment on the probability of making these investments. Unlike previous work, we account for unobserved heterogeneity in tastes for energy-saving activities and its possible correlation with tax policy at the state level. We find that controlling for unobserved heterogeneity is very important. Based on our preferred point estimate of the tax price coefficient, a 10 percentage point change in the tax price for energy investment would lead to a 24 percent increase in the probability …
The 'New' View Of Investment Decisions And Public Policy Analysis: An Application To Green Lights And Cold Refrigerators, Gilbert E. Metcalf, Donald Rosenthal
The 'New' View Of Investment Decisions And Public Policy Analysis: An Application To Green Lights And Cold Refrigerators, Gilbert E. Metcalf, Donald Rosenthal
Gilbert E. Metcalf
Recent research in investment theory emphasizes the importance of sunk investment costs, uncertainty in returns, and flexibility in investment timing. Allowing for the presence of these characteristics alters traditional discounted cash flow rules for when to invest. Those rules will recommend investing at lower rate-of-return thresholds than is optimal. This article describes this research and suggests the range of potential situations to which the theory applies. It also discusses the implications for policy analysis and suggests that government programs to encourage investment may, in some cases, be inappropriate. After discussing a wide array of possible applications, we focus on one …
Investment Under Alternative Return Assumptions: Comparing Random Walks And Mean Reversion (With Kevin Hassett), Gilbert E. Metcalf
Investment Under Alternative Return Assumptions: Comparing Random Walks And Mean Reversion (With Kevin Hassett), Gilbert E. Metcalf
Gilbert E. Metcalf
Many recent theoretical papers have come under attack for modeling prices as Geometric Brownian Motion. This process can diverge over time, implying that firms facing this price process can earn infinite profits. We explore the significance of this attack and contrast investment under Geometric Brownian Motion with investment assuming mean reversion. While analytically more complex, mean reversion in many cases is a more plausible assumption, allowing for supply responses to increasing prices. We show that cumulative investment is generally unaffected by the use of a mean reversion process rather than Geometric Brownian Motion and provide an explanation for this result.
Key Issues In The Reform Of Central Bank Legislation, Warren Coats, Henry Schiffman
Key Issues In The Reform Of Central Bank Legislation, Warren Coats, Henry Schiffman
Warren Coats
In order to improve the performance of central banks, monetary arrangements should be designed to anchor monetary policy to long-run considerations and to establish specific accountability for its implementation. In order to strengthen the long-run view needed for monetary stability against the short-run problem solving perspective more typical of governments and parliaments, there has been a growing movement in recent years in all regions of the world toward increasing central banks' independence from governments and parliaments. In all countries, the responsibility for the monetary system is ultimately the state’s. This responsibility is often explicit in a country's constitution. Central bank …
Technology Adoption In The Presence Of An Exhaustible Resource: The Case Of Groundwater Extraction, Ujjayant N. Chakravorty, Farhed Shah, David Zilberman
Technology Adoption In The Presence Of An Exhaustible Resource: The Case Of Groundwater Extraction, Ujjayant N. Chakravorty, Farhed Shah, David Zilberman
Ujjayant Chakravorty
In this paper we integrate technology diffusion within Hotelling's exhaustible resource model. The modern technology is a conservation technology such as drip irrigation used with groundwater. Resource quality heterogeneity and rising water prices are responsible for the gradual adoption of the modern technology, and under reasonable conditions the diffusion curve is an S-shaped function of time. Without intervention, the diffusion process will be slower than is socially optimal, and optimal resource use tax will accelerate the diffusion of the conservation technology and slow down excessive resource depletion caused by market failure due to open access conditions.
Bæredygtig Udnyttelse Af Fornybare Ressourcer: Torskefiskeriet Ved Færøerne, Niels Vestergaard
Bæredygtig Udnyttelse Af Fornybare Ressourcer: Torskefiskeriet Ved Færøerne, Niels Vestergaard
Niels Vestergaard
The Faroe Islands cod fishery is analyzed for the period 1985-1992. It is shown that an approximately optimal and implementable fishery policy based on sustainability have increased the gross national income in the fishery by about 20%. This loss is due to an inoptimal organization of the fishery during that period combined with a very low cod stock at the end of 1992, which means reduced future catch possibilities. that the fishing capacity could have been reduced by about 1/3. The policy of sustainability is applied to the current situation in the fishery, and it is shown that the current …
Value Added Taxation: A Tax Whose Time Has Come?, Gilbert E. Metcalf
Value Added Taxation: A Tax Whose Time Has Come?, Gilbert E. Metcalf
Gilbert E. Metcalf
Value-added taxes (VATs) are used in a large number of developed countries and have been under consideration at the national level in the United States in recent years. This paper provides an introduction to the tax for those unfamiliar with it. The author begins by describing how VATs work and briefly surveys their use by other countries. The remainder of the paper considers the economic impact as well as design issues that are likely to arise if the United States were to implement a VAT.