Estimating the efficacy of seat belt use is important as compensating risk-taking or "offsetting behaviour" by drivers may attenuate benefits from vehicle safety regulation. However, evidence on partial-offsetting behaviour from previous studies may simply reflect simultaneity bias, as...

This paper extends the literature on optimal tree harvesting assuming stochastic prices. With volatile prices, the value of a stand of trees is increased when harvesting dates are flexible, depending on wood volume and product prices of the day. Flexibility adds value because a forest owner can...

This paper investigates a regime switching model of stochastic lumber prices in the context of an optimal tree harvesting problem. Using lumber derivatives prices, two lumber price models are calibrated: a regime switching model and a single regime model. In the regime switching model, the...

This paper explores the link between technological change and the dynamics of the earnings distribution and production. Technological change not only advances society's collective capability but also changes the relative productivities of its members. This latter effect establishes the likely...

This paper combines ideas that are well founded in the production inventory management literature with analytical approaches that have ben long established in the economic theory literature, to reveal and explore production function characteristic differences between JIT producers and non-JIT...

The basic competitive, general equilibrium growth model with nonrenewable resource depletion suggests that, due to the lack of perfect foresight, there is no way to guarantee that an economy using a depletable resource will follow an efficient path to a steady-state of sustainable per capita...

Donohue and Levitt (2001) attribute over half the current decline in U.S. crime rates to the legalization of abortion. I contribute to the literature by using provincial Canadian data, which permits the segregation of trends in teenage abortions from general abortion rates. This distinction is...

In this paper we seek to add to the understanding of the cost characteristics of Atlantic Canadian manufacturing. We examine the effects of public infrastructure on provincial manufacturing costs. The modelling technique employed is that of the CES-TL variable system.