PROVIDING URBAN ENVIRONMENTAL SERVICES IN DEVELOPING COUNTRIES

Environmental Economics and Policy,

Estimating the volume of counterfeit U.S. currency in circulation worldwide: data and extrapolation

The incidence of currency counterfeiting and the possible total stock of counterfeits in circulation are popular topics of speculation and discussion in the press and are of substantial practical interest to the U.S. Treasury and the U.S. Secret Service. This paper assembles data from Federal Reserve and U.S. Secret Service sources and presents a range of estimates for the number of counterfeits in circulation. In addition, the paper presents figures on counterfeit passing activity by denomination, location, and method of production. The paper has two main conclusions: first, the stock of counterfeits in the world as a whole is likely on the order of 1 or fewer per 10,000 genuine notes in both piece and value terms; second, losses to the U.S. public from the most commonly used note, the $20, are relatively small, and are miniscule when counterfeit notes of reasonable quality are considered.Counterfeits and counterfeiting

Economic Perspectives special issue on payments fraud: an introduction

This article provides an overview of this special issue of Economic Perspectives, which presents selected papers based on the proceedings of the Federal Reserve Bank of Chicago's eighth annual Payments Conference, Payments Fraud: Perception Versus Reality, held on June 5–6, 2008.Payment systems ; Fraud

High voltage microscopy of the hematite-magnetite reaction

Imperial Users onl

JAKARTA, INDONESIA: THE ECONOMICS OF WATER AND WASTE

Jakarta's main streets are landscaped, manicured, and modern. Off these streets, however, the environment is that of an overgrown village. Compared to other Asian cities, Jakarta's drinking water, sewerage treatment, solid waste disposal, and general environment are seriously deficient. This case study briefly outlines the deficiencies. Less than one-fourth the residents have piped water. Almost no one is attached to a sewer. One-third of the city's solid waste never reaches the landfill. The source of the problems is historical -- for a long time, the problems of this rapidly growing city were not adequately addressed. And the problem has become worse in recent years by the policymakers' concern with providing first-class service to all, despite the fact that budgetary shortcomings prevent them from extending such service beyond the richest households. As a result, the poor often receive no public services and must resort to expensive private provision or do without. The principal lesson from and for Jakarta is that policymakers must give more attention to providing less-than-first-class but affordable services to the poor.Environmental Economics and Policy,

Inducing more efficient payment on the Illinois Tollway

Historically, an important part of Chicago’s economic strength derived from its geographic location at the nexus of the country’s transportation networks. Yet, until quite recently, the payment options on the Illinois Tollway seemed incongruous with the remarkably efficient transportation network that has kept Chicago on the country’s economic forefront.

Vibrating quantum billiards on Riemannian manifolds

Quantum billiards provide an excellent forum for the analysis of quantum chaos. Toward this end, we consider quantum billiards with time-varying surfaces, which provide an important example of quantum chaos that does not require the semiclassical ($\hbar \longrightarrow 0$) or high quantum-number limits. We analyze vibrating quantum billiards using the framework of Riemannian geometry. First, we derive a theorem detailing necessary conditions for the existence of chaos in vibrating quantum billiards on Riemannian manifolds. Numerical observations suggest that these conditions are also sufficient. We prove the aforementioned theorem in full generality for one degree-of-freedom boundary vibrations and briefly discuss a generalization to billiards with two or more degrees-of-vibrations. The requisite conditions are direct consequences of the separability of the Helmholtz equation in a given orthogonal coordinate frame, and they arise from orthogonality relations satisfied by solutions of the Helmholtz equation. We then state and prove a second theorem that provides a general form for the coupled ordinary differential equations that describe quantum billiards with one degree-of-vibration boundaries. This set of equations may be used to illustrate KAM theory and also provides a simple example of semiquantum chaos. Moreover, vibrating quantum billiards may be used as models for quantum-well nanostructures, so this study has both theoretical and practical applications.Comment: 23 pages, 6 figures, a few typos corrected. To appear in International Journal of Bifurcation and Chaos (9/01

Transforming payment choices by doubling fees on the Illinois tollway

Rising traffic congestion and the need to improve operational efficiency prompted the Illinois Tollway Authority to unveil plans to reconfigure its road network for “stop-free” electronic toll collection. Committing to an extensive construction program would have required the Tollway to ensure that enough drivers had electronic payment devices (branded as I- PASS). Conversely, without reconfigured toll gates the drivers would have had less reason to own an I-PASS. To resolve this potentially thorny chicken-and-egg problem, the Tollway put in place a new I-PASS distribution network and then dramatically raised the price for cash toll payments. This paper focuses on consumer response to the change in relative prices. Using tollway traffic data, we document a substantial aggregate increase in electronic toll payments. The propensity to pay electronically rose uniformly throughout the day, reflecting the effectiveness of the Tollway’s actions in modifying behavior of both commuters and leisure drivers. ; However, not all drivers appear to have responded to the price change per se. To analyze the relative importance of price, income, and fixed participation costs we use the Census tract level data on employment and residential location to construct a ZIP-code measure of the likelihood of commuting to work via the tollway. Conditional on this measure, we show that the adoption of electronic payments among lower-income households was indeed influenced by the price change. In contrast, high- and medium-income households responded to lower fixed costs of obtaining I-PASS at conveniently located supermarkets. Finally, we document the role of social network relationships, as changes in I-PASS ownership for all income groups were strongly affected by I-PASS use among neighbors and co- workers.Toll roads ; Toll roads - Illinois