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Gorman Engel curves are extended to incomplete systems. The roles of Slutsky symmetry and homogeneity/adding up are isolated in the rank and functional form restrictions for Gorman systems. Symmetry determines the rank condition. The maximum rank is three for incomplete and complete systems....
Persistent link: https://www.econbiz.de/10010537354
A flexible, full rank two model of food consumption that is globally consistent with economic theory, aggregates across income, demographic variables, and variations in micro demand parameters, and accommodates tradeoffs between tastes and nutrition is derived. The econometric demand model is...
Persistent link: https://www.econbiz.de/10010537355
This paper explains the development and implementation of a methodology for assessing the economic impacts of large-scale environmental regulations. The development process began with a literature review surveying channels through which environmental regulations might influence economic...
Persistent link: https://www.econbiz.de/10010537356
An econometric model of annual per capita U.S. food and nutrition demand is developed. The model is a flexible, full rank two Gorman polar form. It is strictly aggregable across income, demographic variables, and variations in micro preference parameters. Parametric conditions for global...
Persistent link: https://www.econbiz.de/10010537357
Water suppliers have been adopting new rate structures to promote conservation. The shift away from rates based on historical average cost toward rates based on marginal cost has been motivated by the desire to send consumers the "right" price signal about the need to conserve drinking water....
Persistent link: https://www.econbiz.de/10010537358
We compare the short-run and long-run effects of environmental reform and harmonization under autarky and free trade. When trade is driven by environmental distortions rather than real relative advantages, harmonization of environmental policies, even if achieved by lowering standards in one...
Persistent link: https://www.econbiz.de/10010537359
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Persistent link: https://www.econbiz.de/10010537361
Low probability catastrophic climate change can have a significant influence on policy under hyperbolic discounting. We compare the set of Markov Perfect Equilibria (MPE) to the optimal policy under time-consistent commitment. For some initial levels of risk there are multiple MPE; these may...
Persistent link: https://www.econbiz.de/10010537362