Privatization generally enhances firm-level efficiency. The impact of privatization on fiscal efficiency has, however, been overlooked. Using the "tax-smoothing" ideas articulated in Barro (1979) and Bohn (1990), we argue that privatization may have an important impact on the welfare losses...

This paper introduces the conditional likelihood estimator of relative risk (CLERR). The CLERR estimates the relative risk of an outcome analogously to the way the conditional logit estimates an odds ratio. Aside from the fact that relative risk is often the preferred measure of association, the...

In this paper we compare the most common reduced form models used for emissions forecasting, point out shortcomings and suggest improvements. Using a U.S. state level panel data set of CO2 emissions we test the performance of existing models against a large universe of potential reduced form...

Studies of voluntary conservation response to changing information about an environmental problem have traditionally been synonymous with studies of information campaign effectiveness. As such, they have not been able to capture the response to actual changes in the environment. This paper takes...