56,480 research outputs found
Distortions in Factor Markets and Structural Adjustments in the Economy
In this paper, we carry out qualitative and quantitative analyses of impacts of factor market distortions on Japan's economic stagnation in the 1990s, thereby showing that resolution of structural impediments is essential for the restoration of sustained economic growth. Distortions in factor markets lead the economy to exhibit inefficient resource allocations, resulting in an inward shift of the nations production possibility frontier and a decline in its attainable output. Our estimation results reveal that the deterioration of distortions in factor markets is attributable to 0.5 percent of the decline in GDP growth (-3.6 percent) after the bursting of the asset price bubble. This confirms that the exacerbation of structural impediments in factor markets is one of the major causes of the prolonged economic stagnation after the bursting of the asset price bubble. Moreover, given that autonomous resolution of factor market distortions through the market mechanism is hardly expected, it is important to take measures to achieve a more efficient allocation of productive resources. Without such measures, monetary and fiscal policies cannot return the economy to a sustainable growth path.
Toward the Integration of Economics and Outdoor Recreation Management
The general theme of this bulletin is that improved management of
public-sector recreational resources is a multidisciplinary task. To this
end, we attempt to integrate elements of outdoor recreation management
theory and economics. The bulletin is written for both resource managers
and researchers. For the former, our intent is to emphasize the importance
of being aware of economic implications-at least conceptually-of
management actions that influence the character and availability of recreational
opportunities. To researchers involved in developing recreation
management theory, we draw attention to the parallel between recreation
management theory and the traditional managerial economic model
of the firm. To economists, particularly those involved in developing
and applying nonmarket valuation techniques, we draw attention to the
types of decisions faced by resource managers.
We argue that the most important resource allocation issues are of
the incremental variety, so nonmarket valuation should also yield incremental
values. These values alone, however, are not sufficient
economic input into rational public choice analysis. The missing link ,
or nexus, between outdoor recreation management theory and economic
analysis is the integration of supply and demand, as called for by traditional
managerial economics. Collaborative research to develop recreation
supply response functions akin to agricultural production functions
is an essential step that is missing from both literatures. Theoretical and
applied work assume greater practical importance if they feed information
into this broadened framework. It is our hope that this bulletin will
bring the disciplines closer to that realization
Fuel subsidies versus market power : is there a countervailing second-best optimum?
Fuel subsidies distort end-use prices below cost, resulting in overconsumption and huge environmental cost. On the other hand, the mark-up over cost due to the exercise of market power results in the social loss of consumer surplus. We open a new line of inquiry into the potential for a market-based solution from these two countervailing forces: can the two offsetting distortions conceivably achieve a second- best optimum? Relying on dynamic panel techniques and gasoline market data for 68 developing countries, we uncover an excessive second-best subsidy offset to market power mark-up on the order of 4.5. Our results indicate that the potential for policy failure strongly exceeds the potential for market failure in our model, and gasoline prices across our sample may not be aligned with vigorous anti-climate change policy
Performance-oriented Cloud Provisioning: Taxonomy and Survey
Cloud computing is being viewed as the technology of today and the future.
Through this paradigm, the customers gain access to shared computing resources
located in remote data centers that are hosted by cloud providers (CP). This
technology allows for provisioning of various resources such as virtual
machines (VM), physical machines, processors, memory, network, storage and
software as per the needs of customers. Application providers (AP), who are
customers of the CP, deploy applications on the cloud infrastructure and then
these applications are used by the end-users. To meet the fluctuating
application workload demands, dynamic provisioning is essential and this
article provides a detailed literature survey of dynamic provisioning within
cloud systems with focus on application performance. The well-known types of
provisioning and the associated problems are clearly and pictorially explained
and the provisioning terminology is clarified. A very detailed and general
cloud provisioning classification is presented, which views provisioning from
different perspectives, aiding in understanding the process inside-out. Cloud
dynamic provisioning is explained by considering resources, stakeholders,
techniques, technologies, algorithms, problems, goals and more.Comment: 14 pages, 3 figures, 3 table
A THEORETICAL FRAMEWORK FOR VIEWING POLLUTION PROBLEMS
Environmental Economics and Policy,
Irrigation system performance assessment and diagnosis
Performance evaluation / Irrigation programs / Irrigation management / Irrigation systems / Case studies / Hydraulics / Management / Environmental effects / Asia / Africa / South America
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