17,388 research outputs found

    A Disaggregate Equilibrium Model of the Tax Distortions Among Assets, Sectors, and Industries

    Get PDF
    This paper encompasses multiple sources of inefficiency introduced by the U.S. tax system into a single general equilibrium model. Using disaggregate calculations of user cost, we measure interasset distortions from the differential taxation of many types of assets. Simultaneously, we model the intersectoral distortions from the differential treatment of the corporate sector, noncorporate sector, and owner-occupied housing. Industries in the model have different uses of assets and degrees of incorporation. Results indicate that distortions between sectors are much smaller than those of the Harberger model. Distortions among industries arealso much smaller than those in models using average effective tax rates. Distortions among assets are larger, but the total of all these welfare costs is still below one percent of income.

    Growth and Human Development: Comparative Latin American Experience

    Get PDF
    This paper seeks to examine the interdependence between economic growth (EG) and human development (HD). It is concerned with changes in per capita income and its two-way relationship with the basic societal objective of human development. Regressions across various Latin American countries are run for 1960-92. Country performance is separated into virtuous/vicious cycles or HD/EG lopsidedness. The study makes an attempt to correct the commonly held view that ensuring increases in economic growth automatically leads to advances in human development. Human development has to occur prior to or simultaneous with improvements in economic growth, if a country is to reach a virtuous cycle. The Latin American experience indicates that a balanced approach to development has to be adopted. It is imperative to focus on human development from the outset of any reform program, as policies that emphasize economic growth alone are futile in sustaining high levels of human development.Human Development, Economic Growth, Latin America

    the Growth Potential for the Indiana Livestock Industries

    Get PDF
    Feed, processing capacity, population density versus animal density, and environmental capacities are the four different dimensions of livestock location and growth potential analyzed for Indiana. These four dimensions provide livestock producers, government officials, and livestock associations a valuable perspective on the constraints that could limit Indiana’s livestock growth potential. Comparisons among 21 states on these dimensions indicated that Indiana is a second choice of states for livestock growth; Kansas and Iowa are the only first choices. Indiana’s strength in the state comparison is its ability to assimilate the phosphorus produced by livestock and commercial phosphorus. As environmental regulations continue to tighten and shift from nitrogen to phosphorus based application standards for manure, the ability to assimilate phosphorus will continue to be one of Indiana’s strengths, along with its abundance of feed and swine processing capacity. Population density is the key dimension that is a disadvantage for Indiana. Within the state of Indiana, the West Central district has key advantages compared to other districts of the state. This district has an abundance of feed, the second lowest population density in the state, and excess phosphorus assimilation capacity. This district does not have processing capacity for any species, but the adjoining districts do have adequate processing capacity. Overall, the results show that Indiana has the potential to grow the livestock sector. However, there will be constraints such as population density that require more in-depth study to determine how to address this potential limitation on growth.Livestock Growth, Animal Waste, Feed Capacity, Livestock Processing Capacity, Animal Density, Population Density

    Research and Regions. a KWIC Indexed Bibliography

    Get PDF
    Computerized techniques applied to economics to produce bibliography of related materia

    Persistence of Power, Elites and Institutions

    Get PDF
    We construct a model of simultaneous change and persistence in institutions. The model consists of landowning elites and workers, and the key economic decision concerns the form of economic institutions regulating the transaction of labor (e.g., competitive markets versus labor repression). The main idea is that equilibrium economic institutions are a result of the exercise of de jure and de facto political power. A change in political institutions, for example a move from nondemocracy to democracy, alters the distribution of de jure political power, but the elite can intensify their investments in de facto political power, such as lobbying or the use of paramilitary forces, to partially or fully offset their loss of de jure power. In the baseline model, equilibrium changes in political institutions have no effect on the (stochastic) equilibrium distribution of economic institutions, leading to a particular form of persistence in equilibrium institutions, which we refer to as invariance. When the model is enriched to allow for limits on the exercise of de facto power by the elite in democracy or for costs of changing economic institutions, the equilibrium takes the form of a Markov regime-switching process with state dependence. Finally, when we allow for the possibility that changing political institutions is more difficult than altering economic institutions, the model leads to a pattern of captured democracy, whereby a democratic regime may survive, but choose economic institutions favoring the elite. The main ideas featuring in the model are illustrated using historical examples from the U.S. South, Latin America and Liberia.

    Environment, human development and economic growth

    Get PDF
    Over the last few years, environmental issues have entered into policy design, particularly development and growth policies. Natural resources are considered necessary production inputs and environmental quality is considered a welfare determinant. The integration of environmental issues into economic growth and development theories and empirics is currently widely analyzed in the literature. The effects of natural resources endowment on economic growth are mainly analyzed through the so-called Resource Curse Hypothesis (RCH) whereas the effects of economic growth on environmental quality are part of the Environmental Kuznets Curve (EKC). Furthermore, recent contributions on RCH and EKC have shown the important role of institutions and human development dimensions in building a sustainable development path. In this paper, we attempt to analyze the causal relationships between economic growth, human development and sustainability combining the RCH and EKC models and adopting a human development perspective.Natural resources, Sustainability, Human Development, Trade

    "Regional Specialization, Urban Hierarchy, and Commuting Costs"

    Get PDF
    We consider an economic geography model of a new genre: all firms and workers are mobile and their agglomeration within a city generates rising urban costs through competition on a land market. When commuting costs are high (low), the industry tends to be agglomerated (dispersed). With two sectors, the same tendencies prevail for extreme commuting cost values, but richer patterns arise for intermediate values. When one good is perfectly mobile, the corresponding industry is partially dispersed and the other industry is agglomerated, thus showing regional specialization. When one sector supplies a nontradeable consumption good, this sector is more agglomerated than the other. The corresponding equilibrium involves an urban hierarchy: a larger array of varieties of each good is produced within the same city.

    Economic Growth and Human Development -

    Get PDF
    This paper explores the links between economic growth and human development, identifying two chains, one from economic growth to human development, and the other, conversely, from human development to economic growth. The various links in each chain are explored, together with a review of some existing empirical material on their importance. The paper examines the significance of the relationships, for the chains as a whole and for particular links in them, with the help of cross-country statistics for the period 1970-92. It finds that there exists a strong positive relationship in both directions and that public expenditure on social services and female education are especially important links determining the strength of the relationship between economic growth and human development, while the investment rate and income distribution are significant links in determining the strength of the relationship between human development and economic growth. The existence of these chains gives rise to the potential for virtuous or vicious cycles of development, with good or bad performance on HD and economic growth reinforcing each other over time. The paper concludes by classifying the actual performance of developing countries into these virtuous and vicious cycles, as well as identifying lop- sided performers, with good performance in one dimension but not the other, and explores how country classification can change over time. We find that lop-sided development almost never persists: countries which are initially lop-sided favoring economic growth always lapse into the vicious category; but countries where HD is favored can move into the virtuous category. This has strong sequencing implications, implying that, while ideally both HD and economic growth should be jointly promoted, HD should be given priority where a choice is necessary.
    corecore