This paper argues that income received via redistributive transfers, unlike labor income, requires no direct sacrifice of leisure; this makes it attractive to many voters even if it leaves them poorer. This point is made within the classic Meltzer and Richard (1981) model wherein heterogeneous...

In this paper, we assume away standard distributional and static-efficiency arguments for public health, and instead, seek a dynamic efficiency rationale. We study a lifecycle model wherein young agents make health investments to reduce mortality risk. We identify a welfare rationale for public...

This report investigates degrees of water dependence across various sectors of Iowa’s economy and the possible direct and indirect consequences of drought events on Iowa’s industries. The report is organized into five sections. Part 1 describes patterns of water use by broad...

We investigate the stability of measured risk attitudes over time, using a 13-year longitudinal sample of individuals in the NLSY79. We find that an individual’s risk aversion changes systematically in response to personal economic circumstances.  Risk aversion increases with lengthening...

The paper investigates the effects of changes in marital status and health related behaviors (smoking and drinking) on the body mass index (BMI) in Russian adults over a ten-year period. Smoking and drinking behavior changes have played an important part in health status changes over 1994 to...

In Lazear (2005)’s model of entrepreneurship, individuals with more diverse academic and occupational training are more likely to become entrepreneurs, while more narrowly trained individuals become employees. We examine whether Lazear’s model can also explain which individuals...

This book presents new developments in non tariff measure (NTM) policy analysis by leading authors in the field, from conceptual developments and methodology improvements, to a series of innovative cases studies. A novel policy research agenda underlies the book recognizing that some NTMs are...

This paper studies a two country model with traded and nontraded sectors, in which sector-specific capital goods, as in practice, are produced by combining inputs from all sectors. The model also includes nontraded distribution services employed in retailing traded goods to consumers. The...

Purpose – The purpose of this paper is to investigate changes proposed in 2012 to commodity programs for the new Farm Bill. Both the Senate and House Agriculture Committee versions of the new Farm Bill eliminate current commodity programs including direct payments, create new...

A simulation model representing a north central U.S. corn and soybean farm was used to estimate the degree of financial risk borne by the tenant and the landlord under 10 different types of flexible cash leases.  Probability distributions for yields, prices and production costs were...