Open Access. Powered by Scholars. Published by Universities.®

Social and Behavioral Sciences Commons™

Open Access. Powered by Scholars. Published by Universities.®

2011

Applied Economics Faculty Publications

Articles 1 - 5 of 5

Full-Text Articles in Social and Behavioral Sciences

Comparative Assessment Of Water Markets: Insights From The Murray-Darling Basin Of Australia And The Western Usa, R. Quentin Grafton, Gary D. Libecap, Eric Edwards, R. J. O'Brien, Clay Landry Jun 2011

Comparative Assessment Of Water Markets: Insights From The Murray-Darling Basin Of Australia And The Western Usa, R. Quentin Grafton, Gary D. Libecap, Eric Edwards, R. J. O'Brien, Clay Landry

Applied Economics Faculty Publications

Water markets in Australia's Murray–Darling Basin (MDB) and the western USA are compared in terms of their ability to allocate scarce water resources. The study finds that the gains from trade in the MDB are worth hundreds of millions of dollars per year (note that all monetary units of dollars in this article are treated as US$ because Australian$ are converted at par). Total market turnover in water rights exceeds US$2 billion per year while the volume of trade exceeds over 20% of surface water extractions. In Arizona, California, Colorado, Nevada and Texas, trades of committed water annually range between …

Go to article

Gis-Based Estimation Of Housing Amenities: The Case Of High Grounds And Stagnant Streams, Shibashis Mukherjee, Arthur J. Caplan Jan 2011

Gis-Based Estimation Of Housing Amenities: The Case Of High Grounds And Stagnant Streams, Shibashis Mukherjee, Arthur J. Caplan

Applied Economics Faculty Publications

We use GIS and econometric methods to estimate the marginal implicit values of environmental amenities associated with residential land parcels in the mountain town of Logan, Utah. Amenities include proximity to open spaces (such as parks, golf courses and lakes), commercial zones, major roads, streams, and general visibility of surrounding topography in the valley as determined by the elevation of the land parcel. The amenity value estimates are corrected for spatial autocorrelation. We find spatially dependent relationships between (1) a parcel’s value and its elevation, and (2) a parcel’s value and its adjacency to a stagnant stream. To our knowledge, …

Go to article

Carbon Sequestration And Permit Trading On The Competitive Fringe, Arthur J. Caplan Jan 2011

Carbon Sequestration And Permit Trading On The Competitive Fringe, Arthur J. Caplan

Applied Economics Faculty Publications

This paper makes two contributions to the carbon-sequestration literature. The first is the development of a theoretical framework in which sequestration and permit trading are analyzed jointly in the context of a competitive fringe model. The second is a numerical analysis demonstrating the role market structure, or market power, might play in the determination of an equilibrium sequestration allocation and carbon price. We present three comparative-static cases, the first two of which assess the impact of relative changes in the cost structures of the dominant firm and competitive fringe. For these two cases we find that the equilibrium allocation of …

Go to article

Foreign Direct Investment, Non-Traded Goods And Real Wages, Reza Oladi, John Gilbert, H. Beladi Jan 2011

Foreign Direct Investment, Non-Traded Goods And Real Wages, Reza Oladi, John Gilbert, H. Beladi

Applied Economics Faculty Publications

Using a three‐sector general equilibrium model with non‐traded goods, we investigate the impact of foreign direct investment on the real wages of skilled and unskilled workers. We show that foreign direct investment increases the real wages of skilled and unskilled workers alike, but widens the gap between the two under plausible conditions.

Go to article

Matching Grants, Income Redistribution And Decentralized Leadership, Arthur J. Caplan, C. Emilson, D. Silva Jan 2011

Matching Grants, Income Redistribution And Decentralized Leadership, Arthur J. Caplan, C. Emilson, D. Silva

Applied Economics Faculty Publications

We examine the decentralized provision of an impure public good by regional governments in a federation similar in certain respects to both the European Union and the United States. The central authority redistributes income and provides matching grants on a per rate basis after it observes the regions’ contributions to the impure public good. Imperfectly mobile workers react to regional and central governments’ policies by establishing residence in their most preferred region. Despite imperfect labor mobility, we show that the allocation of the impure public good and the interregional income redistribution policy are generally efficient in a federation with decentralized …

Go to article