This paper examines simultaneity between religious intensity and income. Most of the literature to date has examined either the impact of religion on economic outcomes or the impact of economic outcomes on religious activities. Our estimation offers evidence of a bicausal relationship. We find...

Over the past twenty years, the environmental regulation of landfills has become increasingly restrictive both at the federal and state levels. Using a panel dataset of Ohio landfills, we developed a theoretical framework to explain the landfill operators' responses to regulatory actions, and...

The current structure of the US natural gas industry is a result of the evolution of regulatory policy over the past three decades which began with the deregulation of natural gas prices at the wellhead (NGPA of 1978) and culminated with the deregulation of interstate transportation of natural...

Using an error-correction model, we find deviation from historic price pass-through patterns during the immediate post-Hurricane Katrina period. Although gasoline price pass-through patterns have largely returned to their long-run equilibrium, evidence indicates that asymmetry, previously not...

The market-based instruments embodied in the Acid Rain Program have been instrumental in the reduction of SO₂ and NO_"x" emissions from electric utilities. Economic theory suggests that tradable pollution permit systems encourage polluters to reallocate pollution burdens to take advantage of any...