The present study is a contribution to the theory of the measurement of productivity growth. First, it examines the welfare-theoretic basis for measuring productivity growth and shows that the ideal welfare-theoretic measure is a chain index of productivity growth rates of different sectors...

The possibility of greenhouse warming has received growing attention in recent years. Many scientific bodies are calling for severe curbs on the emissions of greenhouse gases. To date, the calls to arms and treaty negotiations have progressed more or less independently of economic studies of the...

This note examines the question of calculating an augmented cost of living index (ACOLI). The ACOLI is the appropriate deflator to apply to pretax market incomes when calculating economic well-being. Well-being includes, not only conventional consumer purchases, but also goods and services...

In light of the accident at Three Mile Island, the paper presents a preliminary analysis of the compatibility between the analytical work of the Reactor Safety Study (Rasmussen Report) and actuarial experience. The technique is a "macroanalytic" approach rather than the "microanalytic" method of...

The proposals in our policy memorandum on economic stabilization -- a restrictive monetary policy and a fiscal policy that eliminates the government deficit -- are shaped by our view that the Soviet Union today faces a mounting economic crisis. As we emphasized in our discussion in the policy...