In this report, we are concerned with the impact of the current system of residential stamp duty. Not only does stamp duty have an effect on the housing market, but it also discriminates between both different parts of the country and different household types. Because of the inefficiencies and...

In this paper we address the implications of production risk for controlling fishing effort in a regulated fishery in a framework where fishers maximize expected utility of profit. We focus on controlling effort through season closures that limit the number of days the fishery is open to harvest...

The increasing scarcity of natural resources (in terms of quantity and quality) is one of the most pervasive allocation issues facing development planners throughout the world. The need for sustainable management of these valuable resources has become a critical policy concern. Econometrics is a...

The scarcity of water resources in both arid and temperate countries alike is one of the most pervasive natural resource allocation problems facing water users and policy makers. In the EU this has been recognised in the recent work on the Water Framework Directive. In arid countries this...

The EU Water Framework Directive clearly integrates economics into water management and policy making, and economics is to have a decisive role in the development of the programme of measures and the new river basin management plans. This paper provides a brief overview of the contribution of...

This paper develops and estimates a stochastic general equilibrium model with capital maintenance, which affects endogenously the depreciation rate of capital. The estimate of maintenance series is found to track survey-based measures for Canada quite closely and to generate the procyclical...

We study rational expectations equilibrium problems and social optimum problems in infinite horizon spatial economies in the context of a Ramsey type capital accumulation problem with geographical spillovers. We identify sufficient local and global conditions for the emergence (or not) of...

This paper studies optimal fiscal policy, in the form of taxation and the allocation of tax revenues between infrastructure and environmental investment, in a general-equilibrium growth model with endogenous subjective discounting. A green spending reform, defined as a reallocation of government...

In this article we investigate the role of information transmission in promoting agricultural technology adoption and diffusion through extension services and social learning. We develop a theoretical model of technology adoption and diffusion, which we then empirically apply, using duration...