In October 2001, the U.K. government implemented a dramatic shift in the taxation of gambling, resulting in a substantial decline in taxes levied on U.K. bookmakers. Using data before and after this event, we present econometric evidence on the demand response to this tax reduction. Our results...

The oil of the Persian Gulf has been of considerable interest to oil companies and Western governments (and to Russia) for more than a century. Remaining global conventional crude oil resources are on the order of 3 trillion barrels, with more than 50% of that amount in the Persian Gulf. Since...

A burgeoning literature on "skill-biased" technological change (SBTC) reveals that investment in information and communications technology (ICT) is associated with workforce reductions and an increase in the demand for highly educated workers. Based on extensions of the neo-classical paradigm,...

This study uses firm level data from two detailed surveys of Italian manufacturing firms to study the relationship between R&D expenditures and productivity growth. The analysis considers the different contributions of various forms of R&D (product, process, internal, external in collaboration...

We assess the total factor productivity (TFP) of plants before and after management buyouts (MBOs), using the Annual Business Inquiry Respondents Database (ARD) file, which contains longitudinal data for approximately 36,000 U.K. manufacturing establishments. Our preliminary results suggest that...

This paper describes the World Trade Model, a linear program that determines world prices, scarcity rents, and international trade flows based on comparative advantage in a world economy with m regions, n goods, and k factors. Major properties of the model are demonstrated, including the sources...

A classification scheme for household lifestyles, and another for the activities of which they are comprised, are described as a necessary starting point for the analysis of the environmental impact of changes in household consumption. A household's lifestyle is defined by how it carries out the...

Policy makers seek to identify an institutional framework that facilitates the commercialization of publicly funded R&D. In the space industry, the formation of such a framework is complicated by certain non-economic factors, such as national security considerations and the fact that numerous...

Many ecological and environmental economists take a microeconomic approach to environmental valuation and view the macroeconomy as one big firm whose primary task is to efficiently allocate scarce resources. In this framework, replacing freely provided ecosystem services with costly...

The recent human impact on the environment is so unique in the geological record that the official geological body that defines the division of geological time, the International Commission on Stratigraphy, is considering designating a new geographical epoch called the Anthropocene, calling...