Commentary on the Limits of Compensation and Deterrence in Legal Remedies

Allen comments on papers written by James Cox and Deborah DeMott regarding the deterrence of corporate misconduct. He examines the limits of compensation and deterrence as legal remedies

So That All May Speak: Inviting All to Describe Themselves in the L2 French Classroom

In this article, I examine two focal students of L2 French whose curiosity and embodied learning inspired me to rethink my teaching about personal gender expression and grammatical gender and to develop curricular innovations that would open up pathways for self-expression in the L2 French classroom

Twilight or Just an Overcast Afternoon?

When I read the introductory paragraphs of Loren Smith\u27s deliberately provocative commentary, I expected to cheer a lively challenge to some of the orthodoxies of administrative law. But, when I proceeded with Judge Smith from the general to the more particular, I found myself asking unaccustomed questions instead of cheering. I say unaccustomed questions because it is not customary for me to ask whether an author is doing justice to the procedures employed by administrative agencies or to the activities of reviewing courts. Those institutions have their defenders and do not need me. But Judge Smith\u27s particulars led me to ask whether he was being just in his criticism of them. I shall try to explain why in what follows. I hope that what I say will indicate why the present state of what Judge Smith refers to as the judicialization of the administrative process leaves me with the feeling not so much of twilight descending into darkness but of an ordinary overcast afternoon that could delight us by turning to bright sunlight or could turn darker and awe us with thunder and lightning and drench us with rain

Inflation Targeting: The British Experience

This lecture describes the United Kingdom's experience with inflation targeting. It provides a historical perspective to the introduction of inflation targeting, discusses the concept of inflation targets, and compares an inflation targeting regime with money supply and exchange rate targeting regimes. It is noteworthy that inflation targeting is based on the assumption that low inflation is the proper objective of monetary policy. A significant portion of the lecture covers the issue of the measurement of inflation. It discusses whether asset prices should be taken into account in the inflation measure and looks in particular at the experience of Japan in the late 1980s. It also considers sources of imperfection in traditional measures. It concludes that monetary policy will have to be conducted by reference to estimated price indexes that fall short of the conceptual ideal but does not regard this as seriously undermining an inflation targeting regime. The lecture goes on to discuss the issues of (1) having a target band for inflation or not, (2) the difficulty in forecasting inflation, and (3) the time horizon over which monetary policy should aim. The lecture highlights the important role that openness and transparency play in achieving credibility in monetary policy. It highlights the five devices that are now in use in the United Kingdom, and notes some of the benefits emerging from the open and transparent nature of the United Kingdom approach. It concludes by warning that inflation targeting does not promise to make monetary policy easy but does have the positive virtue of directing attention to many technical issues that need to be resolved in conducting monetary policy.Inflation, Targeting, British

Inflation measurement and inflation targets: the UK experience

Inflation (Finance) ; Monetary policy - Great Britain ; Great Britain

Changes in Property Tax Progressivity for Florida Homeowners after the “Save Our Homes Amendment?

The “Save Our Homes Amendment?to Florida’s constitution limits annual increases in the taxable value of a homestead property to 3 percent or the rate of inflation (whichever is less) as long as the property is owned by the same owner. The amount of property value protected from taxation throughout the state by this amendment has grown to over $246 billion (13.9 percent of total property value) since the amendment’s implementation in 1995. This study tests whether the protection has accrued disproportionately over time among homestead property owners, the very group of people the amendment was intended to protect. The results suggest that the amendment has reduced the degree of progressivity in the state’s property tax system such that the owners of lower value home properties are shouldering an increasing proportion of the property tax burden relative to the owners of higher value homestead properties. The differential impacts of the SOHA across value ranges of homestead properties are likely attributable to differential appreciation and ownership transfers for higher and lower value homestead properties throughout the state.

Identifying Determinants of Horizontal Property Tax Inequity: Evidence from Florida

In the property tax literature, an ad valorem property tax is considered equitable if all properties in the taxing jurisdiction are subject to the same effective tax rate. That is, all properties, regardless of value or type, should be taxed at the same percentage of their market value. Because market value is a theoretical construct and not directly observable, errors in estimating market value may result in systematic inequity, with some properties taxed at higher effective rates than others. This study extends previous research on property tax inequity by examining potential determinants of errors in the property valuation process for a sample of single-family homes in Palm Beach County, Florida. The results indicate that assessment difficulty (as measured by the variation around the mean assessment to transaction price ratio) is positively related to lot size, living area, age of the home and the percentage of minority residents in the neighborhood and is negatively related to market activity levels, resident income levels, whether the property is the permanent residence of its owner, and whether the property has a swimming pool. The generality of these results is limited by the use of transaction price as a proxy for unobservable market value.

Canada Goose Harvest and Hunter Activity in the Southern Illinois Quota Zone during the 1978 Season

Division of Wildlife Resources Migratory Bird Section, Periodic Report No. 26Report issued on: May 9, 197