This paper addresses the link between the degree of unreliability of bus services and the level of optimal bus subsidy. With unreliability influencing user cost, and user cost being a key determinant of optimal bus subsidy, it follows that there is a link between service unreliability and...

Conventional analysis of pollution control policy under uncertainty does not properly account for the potential cost effectiveness difference between standards and charges, thus drawing misleading conclusions for the case of inefficient standards. Correcting for this anomaly, the following...

November 1999 - In the past, financial supervision tended to be organized around specialist agencies for the banking, securities, and insurance sectors. In recent years, several countries have moved toward integrating these different supervisory functions in a single agency. Drawing on Northern...