Contemporary Economic Policy

Articles from Vol. 17, No. 3, July

A Reduction in Consumer Expenditure on Cigarettes and Its Effects on Employment: A Case Study of South Africa
I. INTRODUCTION This study examines the South African case study of the employment effects associated with tobacco control policies that result in reduced consumption. This may occur as a result of either increased taxation on tobacco products,...
Assessing the Efficiency of Public Schools Using Data Envelopment Analysis and Frontier Regression
I. INTRODUCTION The U.S. depends on its educational system to help it address a variety of important social issues, such as maintaining the long-run rise in living standards, reducing income inequality, improving international competitiveness, and...
Does Financial Market Development Stimulate Savings? Evidence from Emerging Stock Markets
I. INTRODUCTION More generally, the creation of new saving instruments and financial market development in a stable macroeconomic environment could in turn further stimulate saving. Bank for International Settlements, 66th Annual Report, 1996...
E-Money and Payment System Risks
I. INTRODUCTION Today we observe the rapid development of information-processing systems that may displace, over time, many of the systems by which payment-related information is communicated. Indeed, stored-value systems, as well as credit-based...
Estimating the Non-Environmental Consequences of Greenhouse Gas Reductions Is Harder Than You Think
I. BACKGROUND: THE PROBLEM As governments, economists, and citizens struggle with the variety of difficult issues surrounding the Kyoto Protocol, the problem of estimating the non-environmental consequences(1) of meaningful greenhouse-gas (GHG)...
Exchange Rate-Based Stabilization in Western Europe: Greece, Ireland, Italy and Portugal
I. INTRODUCTION An extensive literature, mainly drawing from the experience of high-inflation Latin American countries, has identified a characteristic expansionary phase following the adoption of inflation stabilization policies based on an exchange...
Inflation Targeting in Practice: Further Evidence
I. INTRODUCTION Since the early 1990s, a monetary policy strategy known as "inflation targeting" has been formally adopted by a number of industrialized countries. Under this approach, a monetary authority officially announces an inflation target...
Infrastructure and Production Efficiency: An Analysis of the Korean Manufacturing Industry
I. INTRODUCTION Despite the rapid economic growth during the last 30 years, Korean economic growth has recently been slowed down with lagging investment on the social overhead capital (SOC). The inadequate accumulation of public capital seems to...
Is the Exclusionary Rule Worthwhile?
I. INTRODUCTION An important principle of twentieth-century American jurisprudence is that evidence acquired through improper conduct by the state cannot be used to convict a criminal defendant. The U.S., however, is the only industrial democracy,...
The Determinants of Hazardous Waste Disposal Choice: An Empirical Analysis of Halogenated Solvent Waste Shipments
1. INTRODUCTION Firms are almost always making irrevocable decisions about output and investment in production capacity when there is uncertainty about future prices, demand for their products, and availability and cost of inputs. In some cases,...
The Kyoto Protocol, CAFE Standards, and Gasoline Taxes
I. INTRODUCTION The Kyoto Protocol requires the U.S. to reduce the rate of emissions of greenhouse gases to 93% of their 1990 levels by the period 2008-2012. The protocol includes six greenhouse gases, but of these, carbon dioxide (C[O.sub.2]) is...
The Waiver Pork Barrel: Committee Membership and the Approval Time of Medicaid Waivers
I. INTRODUCTION Medicaid, the state-federal health insurance program for the poor, is now the fastest growing segment of state budgets. Its explosive growth has forced cutbacks in many other state programs, causing states to look for ways to slow...