In the case of U. S. agricultural policy, this paper shows how governmental intervention can be formally incorporated in a conditional-vector-error-correcting model. From the resulting theoretical framework and empirical analysis, formal hypotheses are tested regarding both forward and backward...

Global climate change poses significant risks to the California economy. Recognizing and responding to these threats, Governor Schwarzenegger signed Executive Order #S-3-05 (Schwarzenegger 2005) which called for a 30 percent reduction below business-as-usual of greenhouse gas emissions by 2020...

Previous analysis of pollution presumes separation between pollutees and polluters. In the model developed here, all possible combinations of housing and industry locations are allowed. In the resulting world of nonconvexities and multiple local optimum, Pigouvian taxes are generally...

This paper investigates the relationship between a country's political-economic and institutional environment, and its ability to implement sustainable economic reform programs. The policy issue on which the study focuses is inflation stabilization. It consists principally of econometric...