Showing 1 - 10 of 138
Profitability, as measured by gross profits-to-assets, has roughly the same power as book-to-market predicting the cross-section of average returns. Profitable firms generate significantly higher average returns than unprofitable firms, despite having, on average, lower book-to-markets and...
Persistent link: https://www.econbiz.de/10012462711
In principle, a multiproduct firm can set separate prices for all possible bundled combinations of its products (i.e., "mixed bundling"). However, this is impractical for firms with more than a few products, because the number of prices increases exponentially with the number of products. In...
Persistent link: https://www.econbiz.de/10012464731
This paper develops a framework to analyze the relationship between the diffusion of new technologies and the decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly available information. However, the manager can use her...
Persistent link: https://www.econbiz.de/10012466463
The relationship between economic growth and the environment is not well understood: we have only limited understanding of the basic science involved and very limited data. Because of these difficulties it is especially important to develop a series of relatively simple theoretical models that...
Persistent link: https://www.econbiz.de/10012469101
This paper discusses the likely evolution of the trade and environment issue in the World Trade Organization after the upcoming ministerial meeting in Singapore this December. It makes a number of points. Progress within the GATT/WTO on this issue looks likely to be slow and painfully...
Persistent link: https://www.econbiz.de/10012473066
We study a growth model with an environmental asset which is a source of utility and an input to consumption and production. The stock of this asset follows its own ecological dynamics, which are affected by economic activity. We study the implications of an approach to ranking sequences of...
Persistent link: https://www.econbiz.de/10012474520
builds a framework to detect whether local governments skip air pollution monitoring when they expect air quality to … deteriorate. We infer this expectation from air quality alerts - public advisories based on local governments' own pollution … individual pollution monitor in Jersey City, NJ, suspected of a deliberate shutdown during the 2013 "Bridgegate" traffic jam …
Persistent link: https://www.econbiz.de/10012510614
A robust body of evidence shows that air pollution exposure is detrimental to health outcomes, often measured as deaths …, performance, and skills. This article reviews the economic research investigating the causal effects of pollution on "non … pollution can be more challenging to observe than formal health care encounters but may be more pervasive if they affect …
Persistent link: https://www.econbiz.de/10013172147
This article proposes and evaluates four hypotheses about US pollution and environmental policy over the last half … century. First, air and water pollution have declined substantially, although greenhouse gas emissions have not. Second …, environmental policy explains a large share of these trends. Third, much of the regulation of air and drinking water pollution has …
Persistent link: https://www.econbiz.de/10012696387
We compare the spatial distribution of emissions from Southern California's pollution-trading program with that of a …
Persistent link: https://www.econbiz.de/10012479617