Will electricity deregulation push inflation lower?

Deregulation of electricity generation will offer consumers many advantages, including dramatically lower energy costs. From a macroeconomic viewpoint, electricity purchases are interesting because they are a major component of consumers’ budgets (and thus of the CPI) and a large factor of production for many companies. This raises the possibility that electricity deregulation could create a substantial shock to the overall price trend, comparable to other recent energy shocks. The benefits to consumers and producers identified in this article strongly support legislative efforts to increase competition in one of the last strongholds of regulated profits.Electric utilities ; Inflation (Finance)

Rounding in earnings data

A report showing that although rounding in earnings data is typically ignored, its systematic nature affects some commonly used statistics based on earnings data, particularly those focusing on a specific region of the wage distribution.Wages ; Statistics

Earnings, education and experience

Education ; Wages

Responses of early-successional songbirds to a two-stage shelterwood harvest for oak forest regeneration

Background: The early stage of forest succession following disturbance is characterized by a shift in songbird com- position as well as increased avian richness due to increased herbaceous growth in the forest understory. However, regeneration of woody species eventually outcompetes the herbaceous understory, subsequently shifting vegetation communities and decreasing availability of vital foraging and nesting cover for disturbance-dependent birds, ulti- mately resulting in their displacement. These early stages following forest disturbance, which are declining through- out the eastern United States, are ephemeral in nature and birds depend on such disturbances for nesting and other purposes throughout their lives. Methods: We investigated the use of a two-stage shelterwood method to manage long-term persistence of seven early successional songbirds over a 13-year period in an upland hardwood forest within the southern end of the mid- Cumberland Plateau in the eastern United States. Results: Canopy and midstory gaps created after initial harvest were quickly exploited by tree growth and canopy cover returned to these areas, accelerating the displacement of early-successional species. Woody stem densities increased substantially following stage two harvest as advanced tree regeneration combined with the re-opening of the overstory layer increased resource competition for early-successional plants in the understory. Carolina Wren (Thryothorus ludovicianus), Eastern Towhee (Pipilo erythrophthalmus), Indigo Bunting (Passerina cyanea), and Yellow- breasted Chat (Icteria virens) were characterized by immediate increases following initial harvest in 2001; while the American Goldfinch (Spinus tristis), Prairie Warbler (Setophaga discolor), and White-eyed Vireo (Vireo griseus) did not show an immediate response. Stage two harvest in 2011 rejuvenated vegetation which benefitted focal species, with six of seven species showing increases in densities between 2010 and 2012. Conclusion: The two-stage shelterwood method created conditions advantageous to early-successional birds by helping to re-establish understory vegetation through periodic disturbance to the canopy layer. This method provides evidence that early-successional species can be managed long-term (\u3e 15 years) while using relatively small spatial disturbance through the two-stage shelterwood method

Promises and Lies: Restoring Violated Trust

Trust is critical for organizations, effective management, and efficient negotiations, yet trust violations are common. Prior work has often assumed trust to be fragile—easily broken and difficult to repair. We investigate this proposition in a laboratory study and find that trust harmed by untrustworthy behavior can be effectively restored when individuals observe a consistent series of trustworthy actions. Trust harmed by the same untrustworthy actions and deception, however, never fully recovers—even when deceived participants receive a promise, an apology, and observe a consistent series of trustworthy actions. We also find that a promise to change behaviour can significantly speed the trust recovery process, but prior deception harms the effectiveness of a promise in accelerating trust recovery