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Social and Behavioral Sciences Commons™
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Articles 1 - 3 of 3
Full-Text Articles in Social and Behavioral Sciences
Local Negotiation With Heterogeneous Groundwater Users, Gordon C. Rausser, Susan Stratton Sayre, Leo K. Simon
Local Negotiation With Heterogeneous Groundwater Users, Gordon C. Rausser, Susan Stratton Sayre, Leo K. Simon
Economics: Faculty Publications
This paper assesses the political implications of intra-aquifer heterogeneity in the benefits and costs of optimal groundwater management. We use simulation modeling to predict groundwater extraction regimes under two alternative local decision-making structures and compare these structures to optimal management. Local collective action performs poorly when the intra-aquifer disparity in the potential gains is large. Moreover, large intra-aquifer disparity is generally associated with large potential gains. As a result, local collective action is unlikely to be successful in capturing the largest welfare gains. Individual subregions within a groundwater basin almost always benefit most from political structures whose outcomes diverge from …
House Prices And Marital Stability, Martin Farnham, Lucie Schmidt, Purvi Sevak
House Prices And Marital Stability, Martin Farnham, Lucie Schmidt, Purvi Sevak
Economics: Faculty Publications
We investigate the effect of house price changes on divorce using data for 1991-2010 from the Current Population Survey and the Federal Housing Finance Agency. Our findings suggest that changing house prices significantly affect the share of a cohort that is divorced, and that these effects are asymmetric with respect to housing gains versus losses. In addition, we find differential effects for groups that are more likely to be homeowners versus renters. Some of this evidence is consistent with homeowners being locked into their homes-and hence marriages-by increased transactions costs in down markets.
Inflation Targeting And Relative Price Variability: What Difference Does Inflation Targeting Make?, Chi Young Choi, Young Se Kim, Róisín O'Sullivan
Inflation Targeting And Relative Price Variability: What Difference Does Inflation Targeting Make?, Chi Young Choi, Young Se Kim, Róisín O'Sullivan
Economics: Faculty Publications
This article studies the effects of inflation targeting (IT) on relative price variability (RPV) using a data set of twenty countries comprising both targeters and nontargeters. We find that a decline in mean inflation after IT adoption is not necessarily associated with a similar fall in RPV and that what matters most for the structural changes in RPV is the initial inflation regime prior to the adoption of IT rather than IT adoption itself. IT adoption impacts the shape of the underlying relationship between inflation and RPV in countries with initially high inflation rates, moving it from monotonie to the …