Contemporary Economic Policy

Articles from Vol. 13, No. 3, July

Discount Rates and Energy Efficiency
I. INTRODUCTION Markets for energy-using equipment are marked by a seeming anomaly: households and firms routinely pass up investments in energy-efficient technologies yielding rates-of-return well above those available on standard financial instruments....
Effects of Immigrants on the 1980-1990 U.S. Wage Experience
I. INTRODUCTION According to the 1990 Census, 8.6 million immigrants arrived in the United States between 1980 and 1990 - three million more than those who entered a decade earlier. The high immigration of the last decade has brought much attention...
Making Work Pay for Welfare Recipients
I. INTRODUCTION Welfare dependency has been a vexing social problem in the United States and Canada for several decades. Although welfare originally was designed to provide cash assistance for a small number of families who lacked alternative means...
Monetary Policy and Long-Term Interest Rates: A Survey of Empirical Literature
This paper surveys recent empirical literature on effects of monetary policy on long-term interest rates. Most studies reviewed here suggest that tightening monetary policy results in higher long-term interest rates. But available evidence suffers...
Picking Winners and Losers in the Global Technology Race
I. INTRODUCTION Fears that the United States is losing its leadership position in technology (Nelson and Wright, 1992; Scherer, 1992) have prompted the Clinton administration to develop an activist policy position that supports private sector research...
Privatization of Public Housing: An Analysis of Policy Alternatives
I. INTRODUCTION Privatization of public housing will be a significant ongoing issue throughout the developed and part of the less developed world (for a discussion of the U.S. and the U.K. experience, see Stegman et al., 1991; Forrest and Murie, 1991)....
Risk of Accidents and the Policy of Forced Retirement
I. INTRODUCTION The Age Discrimination in Employment Act of 1967 (and its subsequent revisions) protect workers from adverse employment decisions based on age (Davidson et al., 1988). As with many Acts of Congress, this one provides for exceptions....
Rolling DICE for the Future of the Planet
I. INTRODUCTION In November 1992, Science published William Nordhaus's "An Optimal Transition Path for Controlling Greenhouse Gases." Now accompanying that work is Managing the Global Commons: the Economics of Climate Change (1994), as well as an earlier...
Value of Improved Long-Range Weather Information
I. INTRODUCTION An important human welfare implication of climate involves the effects on agriculture of interannual variation in temperature and precipitation. The effects of drought and flooding provide the clearest evidence of the vulnerability of...
What Can Economic Analysis Contribute to the 'Sustainability' Debate?
I. INTRODUCTION - EXISTING SUSTAINABILITY DEFINITIONS Toman (1994) provides a useful discussion of dichotomies between existing definitions of sustainability, and Pezzey (1992) offers a good survey of the sustainability literature. The analysis here...