This paper explores the effects of effluent regulatory activity in the Ontarian pulp and paper industry. The model uses instrumental variables to distinguish between that correlation between emission limits and emissions coming from regulatory capture and that coming from true influence on the...

Despite the popularity of the term among advocates of debt forgiveness, there is little agreement on a workable definition of"odious"debts and there are but few examples where the concept has been invoked in law to justify non-payment of sovereign debts. Most often, these have been cases when a...

This paper examines the saving decisions of a large sample of turn-of-the-century working-class American families. We decompose each family's reported income into permanent and transitory components and then estimate marginal propensities to save from each component. Marginal propensities to...