On the Incidence of Substituting Consumption Taxes for Income Taxes

This paper shows that tax reforms involving an increase in consumption taxes and a decrease in income taxes cannot always be designed in a way that protects the welfare of some chosen class of consumer (e.g., low-income households), even if the government is indifferent to the welfare effects on all other consumers. This is contrary to common intuition and claims by some governments.Tax incidence; consumption taxes; income taxes; tax reform.

Baryon Magnetic Moments in the 1/N_c Expansion with Flavor Symmetry Breaking

The magnetic moments and transition magnetic moments of the ground state baryons are analyzed in an expansion in 1/N_c, SU(3) flavor symmetry breaking and isospin symmetry breaking. There is clear evidence in the experimental data for the hierarchy of magnetic moments of the combined expansion in 1/N_c and flavor breaking. SU(3) breaking in the magnetic moments is expected to be enhanced relative to that of other hadronic observables, and significant SU(3) breaking is found.Comment: 21 pages, 1 figure, CLAS reference update

COST SAVINGS FROM CONSOLIDATING NORTH DAKOTA'S COUNTIES

Consolidation of county government services is often proposed as a way to reduce costs. A bill was proposed in the 1993 North Dakota Legislative Assembly to merge North Dakota's 53 counties into 15 "super counties." This study estimates county expenditure functions for four categories of services: (1) general government, (2) public safety, (3) roads and highways, and (4) health and welfare. The statistical results were used to estimate expenditures for the 15 consolidated counties and a 26-county alternative. The results indicate that the 15-county proposal would have achieved cost savings of 4.9 percent for the four service categories. Costs of road and highway, general government, and health and welfare services could be reduced 3, 10, and 15 percent, respectively, under the 15-county proposal, but public safety expenditures would increase 25 percent. The 26-county alternative would provide less total cost savings, but also fewer cases of cost increases. Consolidation of some, but not all, county government services provides the greatest cost savings. Note: Figures are not included in the machine readable copy--contact the Department for more information.Community/Rural/Urban Development,

Impacts of Product Differentiation on the Crop Input Supply Industry

Agribusiness, Input Supply Industry, Seed, Pesticide, Farm Machinery, Structural Change, Porter’s Five Forces, Agribusiness, Crop Production/Industries, Q13, L10, L20, L80,

High-pressure gas facilitates calibration of turbine flowmeters for liquid hydrogen

Nitrogen gas at a pressure of 60 atmospheres and ambient temperature facilitates the calibration of turbine flowmeters used for monitoring the flow of liquid hydrogen in cryogenic systems. Full-scale calibration factors can be obtained to an accuracy of 0.4 percent

Does intra-firm bargaining matter for business cycle dynamics?

We analyse the implications of intra-firm bargaining for business cycle dynamics in models with large firms and search frictions. Intra-firm bargaining implies a feedback effect from the marginal revenue product to wage setting which leads firms to over-hire in order to reduce workers' bargaining position within the firm. The key to this effect are decreasing returns and/or downward-sloping demand. We show that equilibrium wages and employment are higher in steady state compared to a bargaining framework in which firms neglect this feedback. However, the effects of intra-firm bargaining on adjustment dynamics, volatility and comovement are negligible. --Strategic wage setting,search and matching frictions,business cycle propagation

On-the-job search and the cyclical dynamics of the labor market

We show how on-the-job search and the propagation of shocks to the economy are intricately linked. Rising search by employed workers in a boom amplifies the incentives of firms to post vacancies. In turn, more vacancies induce more on-the-job search. By keeping job creation costs low for firms, on-the-job search greatly amplifies shocks. In our baseline calibration, this allows the model to generate fluctuations of unemployment, vacancies, and labor productivity whose magnitudes are close to the data, and leads output to be highly autocorrelated. --Search and matching,job-to-job mobility,worker flows,Beveridge curve,business cycle,propagation