Household Credit and Saving: Does Policy Matter?

This paper surveys the existing literature on the determinants of household savings and credit in developing countries and examines the ways in which macro-level policies might impact on household financial behaviour.Credit, savings, monetary and financial policy transmission

BIBS: A Lecture Webcasting System

The Berkeley Internet Broadcasting System (BIBS) is a lecture webcasting system developed and operated by the Berkeley Multimedia Research Center. The system offers live remote viewing and on-demand replay of course lectures using streaming audio and video over the Internet. During the Fall 2000 semester 14 classes were webcast, including several large lower division classes, with a total enrollment of over 4,000 students. Lectures were played over 15,000 times per month during the semester. The primary use of the webcasts is to study for examinations. Students report they watch BIBS lectures because they did not understand material presented in lecture, because they wanted to review what the instructor said about selected topics, because they missed a lecture, and/or because they had difficulty understanding the speaker (e.g., non-native English speakers). Analysis of various survey data suggests that more than 50% of the students enrolled in some large classes view lectures and that as many as 75% of the lectures are played by members of the Berkeley community. Faculty attitudes vary about the virtues of lecture webcasting. Some question the use of this technology while others believe it is a valuable aid to education. Further study is required to accurately assess the pedagogical impact that lecture webcasts have on student learning

Social Costs of Mass Privatization

According to leading economic theorists, creating capitalism out of communism requires rapid privatization. In this article we empirically test the welfare implications of privatization policies in Post-Soviet countries by using cross-national panel mortality data as an indicator of social costs. We find that rapid privatization ñ whether measured by a novel measure of mass privatization program implementation or Enterprise Bank for Reconstruction and Development privatization outcome scores ñ is a critical determinant of life expectancy losses, and that when privatization policies are reversed, life expectancy improves. Using selection models, we show that endogeneity understates the social costs of rapid privatization.http://deepblue.lib.umich.edu/bitstream/2027.42/64393/1/wp890.pd

Results of Dover Sole tagging in waters off Northern California, 1969-1971

Three seasonal trawl tagging cruises were undertaken by the California Department of Fish and Game between 1969 and 1971 to determine the distribution, abundance and stock identity of Dover sole (Microstomus pacificus)in the area between Cape Mendocino in northern California and Cape Blanco in southern Oregon. A total of 4730 Dover sole was tagged and released. Through 1984 26% (1235) were recovered. Recapture rates from the tagging cruises were 32% for the spring cruise, 28% for fall, and 15% for winter. Only 13 of 1235 tags were recaptured outside of PMFC 2A and 1C areas (Cape Blanco to Cape Mendocino). The mean north-south dispersion of tagged Dover sole from point of release was 10.2 nautical miles (nm). The maximum distances moved from tagging sites were 215 nm southward and 211 nm northward. A stock unique for management purposes is indicated by the tag recoveries. A seasonal migration by female Dover sole to deep-water grounds in fall and winter was demonstrated. Several estimates of total mortality (Z) were generated by regression of recoveries on time-at-liberty for all recoveries and for shallow- and deep-water returns, separately. Values were 0.41, 0.61, and 0.31, respectively. (84pp.

Price-Capping regulation as a protectionist strategy in developing countries

In developing countries undergoing liberalising reforms, there are typically local incumbents facing the loss of protection. Strategic lobbying by such firms for a price-capping regulatory regime can deter entry. We show that a regulatory price can be set such that the net profit of the entrant is lower than the entry cost thus deterring entry and that it is possible for the profit of the incumbent to be greater under regulation than under unregulated duopoly. We consider the case of multiple incumbents threatened by entry and also extend our analysis to incorporate lobbying by the entrant.entrant, incumbent, lobbying, price-capping regulation

Price-Capping Regulation as a Protectionist Strategy in Developing Countries

In developing countries undergoing liberalising economic reforms, there are typically local incumbents facing the loss of protection. Strategic lobbying by such firms for a price-capping regulatory regime is, under certain conditions, one way in which they can deter entry by competitors who are likely to be foreign firms. We show that a regulatory price can be set such that the net profit of the entrant is lower than the entry cost thus deterring entry. We then show that it is possible for the profit of the incumbent to be greater under regulation which deters entry than under unregulated duopoly. Counter-intuitively, we further discover that lobbying for regulation is to be expected where the incumbent firm is relatively cost-efficient. Finally, we consider the case of multiple incumbents threatened by entry. We observe a co- ordination problem and consider the possibility of co-operation in lobbying. We then show that such co-operation, if possible, is always preferable to non-co-operation.Price-capping, regulation, lobbying, incumbents, entrants, free-riding, co-operation

Reducing Distracted Driving: Regulation and Education to Avert Traffic Injuries and Fatalities

In this article, we consider the legal and policy implications of distracted driving (the tendency of people to use electronic devices while operating a motor vehicle). After reviewing the empirical evidence showing that distracted driving has serious adverse consequences, we discuss the legal basis for governmental interventions to reduce distracted driving. These interventions include laws restricting the use of electronic devices while driving, especially sending text messages. Since drivers have at best a reduced expectation of privacy, these restrictions should easily survive legal challenges. At the same time, it is important to consider the responsibility of automobile manufacturers to improve safety though design changes. We also advocate health education to change social norms to reduce distracted driving

The Optimality of Being Efficient

In an optimal auction, a revenue-optimizing seller often awards goods inefficiently, either by placing them in the wrong hands or by withholding goods from the market. This conclusion rests on two assumptions: (1) the seller can prevent resale among bidders after the auction; and (2) the seller can commit to not sell the withheld goods after the auction. We examine how the optimal auction problem changes when these assumptions are relaxed. In sharp contrast to the no resale assumption, we assume perfect resale: all gains from trade are exhausted in resale. In a multiple object model with independent signals, we characterize optimal auctions with resale. We prove generally that with perfect resale, the seller's incentive to misassign goods is destroyed. Moreover, with discrete types, any misassignment of goods strictly lowers the seller's revenue from the optimum. In auction markets followed by perfect resale, it is optimal to assign goods to those with the highest values.Auctions; Multiple Object Auctions; Resale