Contemporary Economic Policy articles from July 2005

Contemporary Economic Policy archives from July 2005

Automobile fuel economy: what is it worth?
July 1, 2005... I. INTRODUCTION Concern about energy efficiency touches a broad cross section of the populace. Supporters of increased automobile fuel economy cite global warming and air quality concerns, desire to conserve fossil fuels, and enhancement...

Abatement cost heterogeneity in phase I electric utilities.
July 1, 2005... I. INTRODUCTION Title IV of the Clean Air Act Amendments of 1990 established a system of tradable emission allowances as a market-based mechanism designed to reduce sulfur dioxide (S[O.sub.2]) emissions in the U.S. electric utility...

Multipollutant efficiency standards for electricity production.
July 1, 2005... I. INTRODUCTION Federal legislation for electricity emissions has become increasingly stringent, as typified by the stricter standards of the U.S. Environmental Protection Agency's (EPA) 1997 New Source Performance Standards (NSPS) as...

Benefits of hazardous waste cleanup: new evidence from survey- and market-based property value approaches.
July 1, 2005... I. INTRODUCTION Studies have shown that community knowledge of the presence of a potentially hazardous toxic site results in significant value depreciation of nearby real estate. A majority of these studies involve ex post hedonic analysis...

Economics of the "critical use" of methyl bromide under the Montreal Protocol.
July 1, 2005... I. INTRODUCTION Methyl bromide (MeBr), a powerful pesticide used for fumigation of soils (and of agricultural products in shipment), is one of the chemicals--like chlorofluorocarbons (CFCs) and halons--that is known to destroy...

Overseas assembly production choices.
July 1, 2005... I. INTRODUCTION Outsourcing can be viewed as a technological innovation that enables producers to geographically separate production processes. In this vein, theoretical work on the topic, including Jones and Kierkowski (1990), Arndt...

Industry trade balance and domestic merger policy: empirical evidence from U.S. merger policy for manufacturing sectors.
July 1, 2005... I. INTRODUCTION A voluminous literature (e.g., Williamson, 1968; Fisher, 1987; White, 1987; Farrell and Shapiro, 1990) exists concerning the welfare effect of mergers involving only domestic competitive implications; that is, domestic...

Beyond test scores: the impact of black teacher role models on rigorous math taking.
July 1, 2005... I. INTRODUCTION Black high school students participate in advanced math classes at low rates. In 1999, 24% of white high school juniors and seniors enrolled in precalculus or calculus, but only half as many black juniors and seniors...

Accounting for social costs associated with resale price maintenance.
July 1, 2005... I. INTRODUCTION Resale price maintenance (RPM) agreements may be welfare enhancing, yet are under increasing legal pressure. RPM agreements are one mechanism by which an upstream firm can control downstream prices. In the face of uncertain...

Novelty effects of new facilities on attendance at professional sporting events.
July 1, 2005... I. INTRODUCTION Both conventional wisdom and casual empiricism suggest that new sports facilities boost attendance at sporting events. Part of this increased attendance is attributed to the desire by both fans and nonfans to see and...

Capital control and domestic interest rates: a generalized model.
July 1, 2005... I. INTRODUCTION Traditional capital control theory maintains that capital control definitely raises interest rates. Based on that consensus, capital control is studied as it affects a country's welfare and output. If we examine historical...