This paper investigates whether the minimum wage leads to inefficient job rationing. By not allowing wages to clear the labor market, the minimum wage could cause workers with low reservation wages to be rationed out while equally skilled workers with higher reservation wages are employed. This...

Regulators must rely on science to understand problems and predict the consequences of regulatory actions, but science by itself cannot justify public policy decisions. We review the Environmental Protection Agency's efforts to justify recent changes to its National Ambient Air Quality Standards...

Regulatory policy has long been a source of controversy, eliciting criticism and calls for reform from virtually all quarters. In recent years, reform proposals have typically sought to restructure the institutional environment of regulatory policymaking by changing administrative law and...

Effective leadership is needed in times of public health and safety crisis, yet the empirical research on what it means to be an effective crisis leader is scarce. We present a new measure, the Crisis Leader Efficacy in Assessing and Deciding (C-LEAD) scale, to further research on this important...

Using individual student test-score data from the School District of Philadelphia, we estimated the impact of for-profit and non-profit school management on student achievement by tracking the performance of students in math and reading from 2001 to 2006. After four years, the average student at...

Federal, state and local governments use a variety of incentives to induce consumer adoption of hybrid-electric vehicles. We study the relative efficacy of state sales tax waivers, income tax credits and non-tax incentives and find that the type of tax incentive offered is as important as the...

The new conventional wisdom on globalization emphasizes that reaping the benefits of trade and financial integration is not automatic, and requires better domestic institutions, essentially improved safety nets in rich countries and improved governance in the poor countries. The prevailing...

This article, written for the forthcoming Handbook of the Economics of Technical Change, surveys the costs, risks, and challenges encountered in the discovery and development of superior new pharmaceuticals. The changing methods by which drugs are discovered, the links between companies and...

Over the last several years, many have called for an internationalization of Internet governance in general, and Internet naming and numbering in particular. The multi-year WSIS process that culminated in November 2005 was intended to create momentum in such direction. The United States has long...

In February, 2005, the Kyoto Protocol to the United Nations Framework Convention on Climate Change came into force, but without participation by the United States. Its impacts on emissions of greenhouse gases - including carbon dioxide (CO2) , the primary anthropogenic driver of climate change -...