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Full-Text Articles in Political Economy

Local Environmental Quality And Inter-Jurisdictional Spillovers, John W. Hatfield, Katrina Kosec Jul 2019

Local Environmental Quality And Inter-Jurisdictional Spillovers, John W. Hatfield, Katrina Kosec

Katrina Kosec

We investigate the classic question of how the provision of a local publicly-provided good--air quality--varies with the degree of decentralization of policymaking. Exploiting exogenous variation in the natural topography of the United States to instrument for the number of local government jurisdictions in a metropolitan area, we show that areas with more jurisdictions have significantly lower air quality, and significantly higher concentrations of the toxic air pollutants most closely associated with cancer and non-cancer health risks. Moreover, we estimate that this increase in pollution lowers housing values by at least 3%. By contrast, local drinking water quality--a publicly-provided good not ...


Religion, Administration & Public Goods: Experimental Evidence From Russia, Theocharis N. Grigoriadis Dec 2016

Religion, Administration & Public Goods: Experimental Evidence From Russia, Theocharis N. Grigoriadis

Theocharis Grigoriadis

In this paper, I argue that religion matters for the provision of public goods. I identify three normative foundations of Eastern Orthodox monasticism with strong economic implications: 1. solidarity, 2. obedience, and 3. universal discipline. I propose and solve a public goods game with a three-tier hierarchy, where these norms are modeled as treatments. Obedience and universal discipline facilitate the provision of threshold public goods in equilibrium, whereas solidarity does not. Empirical evidence is drawn from public goods experiments run with regional bureaucrats in Tomsk and Novosibirsk, Russia. The introduction of the same three norms as experimental treatments produces different ...


Committee Design With Endogenous Participation, Volker Hahn Dec 2016

Committee Design With Endogenous Participation, Volker Hahn

Volker Hahn

We analyze different committee designs in a model with the endogenous participation of experts who have private information about their own abilities. Each committee design involves a test of abilities whose accuracy influences experts’ decisions to participate. We derive the following findings. First, higher wages lead to lower quality experts. Second, an increase in transparency improves the quality of experts on the committee. Third, larger committees attract less able experts than smaller ones, unless the committee operates under full transparency. Fourth, we derive the properties of optimal committees. They involve low wages and can be transparent or opaque.


Designing Monetary Policy Committees, Volker Hahn Dec 2015

Designing Monetary Policy Committees, Volker Hahn

Volker Hahn

We integrate monetary policy-making by committee into a New Keynesian model to assess the consequences of the committee's institutional characteristics for inflation, output, and welfare. Our analysis delivers the following results. First, we demonstrate that transparency about the committee's future composition is typically harmful. Second, we show that short terms for central bankers lead to effective inflation stabilization at the expense of comparably high output variability. Third, larger committees generally allow for more efficient stabilization of inflation but possibly for less efficient output stabilization. Fourth, large committees and short terms are therefore socially desirable if the weight on ...


“To Tackle Household Debt We Must Address Supply And Demand”, Basak Kus Oct 2015

“To Tackle Household Debt We Must Address Supply And Demand”, Basak Kus

BASAK KUS

No abstract provided.


Marx's Critique Of Political Economy, Deepankar Basu Aug 2015

Marx's Critique Of Political Economy, Deepankar Basu

Deepankar Basu

This article is a critical review of Michael Heinrich's book, "An Introduction to the Three Volumes of Karl Marx's Capital", published in 2012 by Monthly Review Press and in 2013 by Aakar Books (India).


Who Benefits From Environmental Regulation? Evidence From The Clean Air Act Amendments, Antonio Bento, Matthew Freedman, Corey Lang Jul 2015

Who Benefits From Environmental Regulation? Evidence From The Clean Air Act Amendments, Antonio Bento, Matthew Freedman, Corey Lang

Matthew Freedman

Using geographically disaggregated data and exploiting an instrumental variable strategy, we show that, contrary to conventional wisdom, the benefits of the 1990 Clean Air Act Amendments (CAAA) were progressive. The CAAA created incentives for local regulators to target the initially dirtiest areas for cleanup, creating heterogeneity in the incidence of air quality improvements that favored lower-income households. Based on house price appreciation, households in the lowest quintile of the income distribution received annual benefits from the program equal to 0.3% of their income on average during the 1990s, over twice as much as those in the highest quintile.

Earlier ...


Policy Change And Coups: The Role Of Income Inequality And Asset Specificity, Taeko Hiroi, Sawa Omori Dec 2014

Policy Change And Coups: The Role Of Income Inequality And Asset Specificity, Taeko Hiroi, Sawa Omori

Taeko Hiroi

Building on the models developed by Boix, Acemoglu, and Robinson on the relationship between economic structures and regime change, we develop a theory that emphasizes structural characteristics of societies and the effects of policy change in such circumstances. We posit that significant policy change in an unequal or asset-specific society induces coups against the incumbent political leader by the losing faction of the elites seeking to prevent or cut losses associated with the policy shifts. Our empirical analysis indicates that the risk of a coup rises considerably during a period of a significant policy change in a society with a ...


A Line In The Tar Sands: Struggles For Environmental Justice, Toban Black, Stephen D'Arcy, Tony Weis, Joshua Russell Sep 2014

A Line In The Tar Sands: Struggles For Environmental Justice, Toban Black, Stephen D'Arcy, Tony Weis, Joshua Russell

Stephen D'Arcy

(Edited Collection.) The fight over the tar sands in North America is among the epic environmental and social justice battles of our time, and one of the first that has managed to marry quite explicitly concern for frontline communities and immediate local hazards with fear for the future of the entire planet. Tar sands “development” comes with an enormous environmental and human cost. But tar sands opponents—fighting a powerful international industry—are likened to terrorists; government environmental scientists are muzzled; and public hearings are concealed and rushed. Yet, despite the formidable political and economic power behind the tar sands ...


Comparative Growth Dynamics In A Discretetime Marxian Circuit Of Capital Model, Deepankar Basu May 2014

Comparative Growth Dynamics In A Discretetime Marxian Circuit Of Capital Model, Deepankar Basu

Deepankar Basu

In this paper, a discrete-time version of the Marxian circuit of capital model in Foley (1982, 1986a) is used to address two important theoretical issues of general interest to the heterodox economics tradition: profit-led versus wage-led growth, and the growth-reducing impact of non-production credit. First, it is demonstrated that both profit-led and wage-led growth regimes can be accommodated within the Marxian circuit of capital model. Second, it is demonstrated that, if the total flow of credit is large, the steady-state growth rate of a capitalist economy is negatively related to the share of consumption credit in total net credit.


The Child Health Implications Of Privatizing Africa's Urban Water Supply, Katrina Kosec Apr 2014

The Child Health Implications Of Privatizing Africa's Urban Water Supply, Katrina Kosec

Katrina Kosec

Can private sector participation (PSP) in the piped water sector improve child health? I use child-level data from 39 African countries during 1986-2010 to show that PSP decreases diarrhea among urban-dwelling, under-five children by 2.6 percentage points, or 16% of its mean prevalence. Children from the poorest households benefit most. PSP is also associated with a 7.8 percentage point increase in school attendance of 7-17 year olds. Importantly, PSP increases usage of piped water by 9.7 percentage points, suggesting a possible causal channel explaining health improvements. To attribute causality, I exploit time-variation in the private water market ...


Relying On The Private Sector: The Income Distribution And Public Investments In The Poor, Katrina Kosec Feb 2014

Relying On The Private Sector: The Income Distribution And Public Investments In The Poor, Katrina Kosec

Katrina Kosec

What drives governments with similar revenues to provide very different amounts of goods with private sector substitutes? Education is a prime example. I use exogenous shocks to Brazilian municipalities' revenue during 1995-2008 generated by non-linearities in federal transfer laws to demonstrate two things. First, municipalities with higher income inequality or higher median income allocate less of a revenue shock to education and are less likely to expand public school enrollment. They are more likely to invest in public infrastructure that is broadly enjoyed, like parks and roads, or to save the shock. Second, I find no evidence that the quality ...


The Greater Boston Housing Report Card 2013: What Follows The Housing Recovery?, Barry Bluestone, Eleanor White, Noah Hodgetts, Michael Gleba, Nancy Lee, Monika Kondura, Tim Davis Jan 2014

The Greater Boston Housing Report Card 2013: What Follows The Housing Recovery?, Barry Bluestone, Eleanor White, Noah Hodgetts, Michael Gleba, Nancy Lee, Monika Kondura, Tim Davis

Nancy S. Lee

No abstract provided.


Rethinking Atlanta's Regional Resilience In An Age Of Uncertainty: Still The Economic Engine Of The New South?, Jennifer Clark Dec 2013

Rethinking Atlanta's Regional Resilience In An Age Of Uncertainty: Still The Economic Engine Of The New South?, Jennifer Clark

Jennifer Clark

One of the great challenges facing large, diverse metropolitan economies is how to build and maintain sustainable and resilient cities. For several years now, people have recognized the critical and expanding role of “global cities.” Although Saskia Sassen’s initial conceptualization focused on leading financial centers---London, New York, and Tokyo---the notion has developed to encompass broader ideas about how diverse metropolitan economies serve as regional nodes in a global network (Sassen 2001) . These global cities serve as the engines behind national and regional economic growth. Increasingly, academics and policy advocates have argued that global cities constitute the most important interconnected ...


The Greater Boston Housing Report Card 2002, Ryan Allen, Barry Bluestone, Bonnie Heudorfer, Gretchen Weismann Oct 2013

The Greater Boston Housing Report Card 2002, Ryan Allen, Barry Bluestone, Bonnie Heudorfer, Gretchen Weismann

Barry Bluestone

No abstract provided.


The Greater Boston Housing Report Card 2008: From Paradigm To Paradox: Understanding Greater Boston’S New Housing Market, Barry Bluestone, Chase Billingham, Tim Davis Oct 2013

The Greater Boston Housing Report Card 2008: From Paradigm To Paradox: Understanding Greater Boston’S New Housing Market, Barry Bluestone, Chase Billingham, Tim Davis

Barry Bluestone

No abstract provided.


Principles Of Macroeconomics: Activist Vs. Austerity Policies, Howard Sherman, Mike Meeropol Mar 2013

Principles Of Macroeconomics: Activist Vs. Austerity Policies, Howard Sherman, Mike Meeropol

HOWARD J SHERMAN

This is an economics textbook comparing Neoclassical economic theories with Progressive economic theories, written in extremely accessible prose.


Hungry Capital: The Financialization Of Food, Luigi Russi Mar 2013

Hungry Capital: The Financialization Of Food, Luigi Russi

Luigi Russi

Over the past thirty years, the ability of global finance to affect aspects of everyday life has been increasing at an unprecedented rate. The world of food bears vivid testimony to this tendency, through the scars opened by the 2008 world food price crisis, the iron fist of retailing giants that occupy the supply chain and the unsustainable ecological footprint left behind by global production networks. Hungry Capital offers a rigorous analysis of the influence that financial imperatives exert on the food economy at different levels: from the direct use of edible commodities as an object of speculation to the ...


A Commitment Theory Of Subsidy Agreements, Daniel Brou, Michele Ruta Dec 2012

A Commitment Theory Of Subsidy Agreements, Daniel Brou, Michele Ruta

Daniel Brou

This paper examines the rationale for the rules on domestic subsidies in international trade agreements through a framework that emphasizes commitment. We build a model where the policy-maker has a tariff and a production subsidy at its disposal, taxation can be distortionary and the import-competing sector lobbies the government for favorable policies. The model shows that, under political pressures, the government will turn to subsidies when its ability to provide protection is curtailed by a trade agreement that binds tariffs only (policy substitution problem). When the factors of production are mobile in the long-run, but the investments are irreversible in ...


The Politics Of Rights-Based Approaches In Conservation, Prakash Kashwan Dec 2012

The Politics Of Rights-Based Approaches In Conservation, Prakash Kashwan

Prakash Kashwan

Scholars and advocates increasingly favor rights-based approaches over traditional exclusionary policies in conservation. Yet, national and international conservation policies and programs have often led to the exclusion of forest-dependent peoples. This article proposes and tests the hypothesis that the failures of rights-based approaches in conservation can be attributed in significant measure to the political economic interest of the state in the tropics. To this end, the article presents findings from the empirical analysis of the Forest Rights Act of 2006 in India. Two key recommendations emerge from this analysis. One, the proposals for operationalizing rights-based approaches will likely be far ...


Federal Competition And Economic Growth, Katrina Kosec, John William Hatfield Dec 2012

Federal Competition And Economic Growth, Katrina Kosec, John William Hatfield

Katrina Kosec

This paper exploits exogenous variation in the natural topography of the United States to estimate the causal impact of inter-jurisdictional competition on income growth. We find that doubling the number of county governments in a metropolitan area leads to a 17% increase in the average annual growth rate of earnings per employee over 1969-2006, and a 10% increase in 2006 income per employee. Decomposing income effects using 2000 Census worker-level data, we find that approximately half of the effect stems from making workers more productive, while the other half comes from changing the composition of the workforce and inducing workers ...


Dynamics Of The Current Crisis, Howard Sherman, Mike Meeropol Apr 2012

Dynamics Of The Current Crisis, Howard Sherman, Mike Meeropol

HOWARD J SHERMAN

Sometimes, it is useful to take a step back and remind ourselves why recessions occur and why recoveries usually follow shortly thereafter. Having done that, we can try to understand the causes of far more serious recessions and what must be done to recover. The authors point out how such severe recessions, including the Great Recession of 2007 to 2009, differ profoundly from most others


Challenges Of The Cooperative Movement In Addressing Issues Of Human Security In The Context Of A Neoliberal World: The Case Of Argentina, Stefan Ivanovski Mar 2012

Challenges Of The Cooperative Movement In Addressing Issues Of Human Security In The Context Of A Neoliberal World: The Case Of Argentina, Stefan Ivanovski

Stefan Ivanovski

The response of some Argentine workers to the 2001 crisis of neoliberalism gave rise to a movement of worker-recovered enterprises (empresas recuperadas por sus trabajadores or ERTs). The ERTs have emerged as former employees took over the control of generally fraudulently bankrupt factories and enterprises. The analysis of the ERT movement within the neoliberal global capitalist order will draw from William Robinson’s (2004) neo-Gramscian concept of hegemony. The theoretical framework of neo-Gramscian hegemony will be used in exposing the contradictions of capitalism on the global, national, organizational and individual scales and the effects they have on the ERT movement ...


Malnutrition, Child Health, And Water Quality: Is There A Role For Private Sector Participation In South Asia?, Katrina Kosec Mar 2012

Malnutrition, Child Health, And Water Quality: Is There A Role For Private Sector Participation In South Asia?, Katrina Kosec

Katrina Kosec

This article discusses the potential of private sector participation (PSP) to improve the urban water supply in South Asia. I first provide background on the literature linking a safe and adequate water supply with malnutrition, morbidity, and mortality. To better understand the selection mechanism underlying the decision to undergo PSP, I then analyze factors associated with the award of private water contracts worldwide. I next present empirical evidence that PSP in water is associated with a lower incidence of diarrheal disease and higher rates of access to piped water among young children in urban Africa. Finally, I conclude by reviewing ...


A Basic Guide To Taxing Economic Rent In Australia, John Passant Dec 2011

A Basic Guide To Taxing Economic Rent In Australia, John Passant

John Passant

Taxing economic rent is one key element in tax reform in Australia and sets possible directions for the future. This paper introduces readers to the ideas of Adam Smith and David Ricardo and others on rent to aid understanding of the debates about economic rent today. The discussion also includes the Petroleum Resource Rent Tax, the Australia’s Future Tax System Report and the Minerals Resource Rent Tax. The thinking of Smith and Ricardo was that rent was unearned gain. It is unearned because it arises as a consequence of the nature of the holding, an exclusive property right against ...


Working Conditions Of Brazilian Immigrants In Massachusetts, Carlos Siqueira, Tiago Jansen Dec 2011

Working Conditions Of Brazilian Immigrants In Massachusetts, Carlos Siqueira, Tiago Jansen

C. Eduardo Siqueira

Brazilian immigration to Massachusetts and other states in the US grew significantly in the last two decades. There is a lack of data about the working conditions and health and safety hazards faced by Brazilian immigrant workers. We surveyed over 500 workers in Eastern Massachusetts through a community-based participatory research project to explore occupational and immigration factors that may represent a risk to the health of Brazilian immigrant workers, who mostly work in the construction, housecleaning, and food services segments of the state labor force. Our pilot study suggests that Brazilian immigrant workers are exposed to chemical, ergonomic, physical, and ...


Introduction To The Special Issue On Manufacturing, Jennifer Clark, Pierre Clavel Dec 2011

Introduction To The Special Issue On Manufacturing, Jennifer Clark, Pierre Clavel

Jennifer Clark

Manufacturing has long been the focus for progressive reforms. But these reforms, pushed by labor in the 1930s and 1940s, did not particularly involve city planners, and the idea of “progressive planning” that emerged in the 1960s focused on community and neighborhood struggles over urban renewal, highway clearances and the depredations of real estate developers—not necessarily manufacturing. The question now is whether, with changes in manufacturing, and new initiatives from the Obama administration, progressives can make a contribution through the manufacturing sector, and whether professional planners can play a role at all.We asked a group of geographers and ...


Economic Approaches To Global Regulation: Expanding The International Law And Economics Paradigm, Dan Danielsen Dec 2011

Economic Approaches To Global Regulation: Expanding The International Law And Economics Paradigm, Dan Danielsen

Dan Danielsen

The recent economic crisis has demonstrated with startling clarity the importance of developing a more robust framework for assessing the effects of national rules on global welfare. For more than fifty years, law and economics scholars have examined the effects of domestic legal rules on economic activity and general welfare in the United States. More recently, international law scholars have begun to use economic methods to analyze the international legal order. In this article I survey this evolving body of “international law and economics scholarship” with a view to articulating its principle methodological innovations as well as assessing its contributions ...


Local Rules And A Global Economy: An Economic Policy Perspective, Dan Danielsen Dec 2011

Local Rules And A Global Economy: An Economic Policy Perspective, Dan Danielsen

Dan Danielsen

This article explores the growing significance and theoretical implications of ‘local rules’—such as Chinese labour standards, US financial regulation and Swiss bank secrecy rules—in the global economy. In particular, the argument developed is that Ronald Coase’s framework for analysing the effects of legal rules on economic welfare can help to reveal important weaknesses in current international legal approaches to analysing the transnational impact of local rules as well as contribute to a ‘global economic policy perspective’ better attuned to problems of power in the global regulatory order. Such a perspective will help us to see the effects ...


The Greater Boston Housing Report Card 2009: Positioning Boston In A Post-Crisis World, Barry Bluestone, Chase Billingham, Jessica Herrmann Dec 2011

The Greater Boston Housing Report Card 2009: Positioning Boston In A Post-Crisis World, Barry Bluestone, Chase Billingham, Jessica Herrmann

Barry Bluestone

No abstract provided.