University of Zurich Faculty of Law Fall Semester 2012
|
|
|
- Laureen King
- 5 years ago
- Views:
Transcription
1 University of Zurich Faculty of Law Fall Semester 2012 Law & Economics Economic Analysis of Law Introduction, economic theory & analytic methods and tools Prof. Dr. Andreas Heinemann/ Dr. Mark Steiner Slides by Prof. Dr. Rolf H. Weber / Dr. Mark Steiner lst.heinemann@rwi.uzh.ch
2 Agenda 1. Definition and development of Law & Economics 2. Economic concepts Rationality Supply and demand elasticity Efficiency 3. Application of economic concepts in law: Law & Economics Descriptive questions effects of law Normative questions assessment of law 4. Example: Of Carrots, Sticks and Broken Windows 5. Why should a lawyer / economist be concerned with Law & Economics? Universität Zürich 2
3 Law & Economics Definitions Application of economic theory and methods Formation of law Structure of law Legal processes Effects of law Effects of institutions Typical and untypical areas Competition, liability, business, tax, labour law etc. Criminal, family, public law etc. Universität Zürich 3
4 Hume, Russeau History of Law & Economics 18th Century Beginnings Constitutional law collective action Smith Analysis of mercantilism Market prices, monopolies, regulation Bentham utilitarism Greatest happiness principle Laws concerning human relations (e.g. Marriage, equality, etc.) Prison reform natural law But: no complete systematic approach Universität Zürich 4
5 History of Law & Economics 19th Century Definition of (Property) Rights European movement Commons, Molionari, Menger, Schmoller, Wagner, etc. Explanatory science of rights Natural law unsatisfactory Distinctions related to different states of nature unexplained Unequal rights Economic reasons Institutional reasons Scientific nature? Telling stories Generalisations Universität Zürich 5
6 History of Law & Economics 20th Century Chicago School (Demsetz, Coase, Becker, Posner, etc.) Property rights Tort law Criminal law Competition law Other movements Black, Tiebout, Tullok, Downs Public law, political economy Systematic analyses with mathematical and statistical methods and tools (price theory, game theory, regression etc.) Universität Zürich 6
7 Agenda 1. Definition and development of Law & Economics 2. Economic concepts Rationality Supply and demand elasticity Efficiency 3. Application of economic concepts in law: Law & Economics Descriptive questions effects of law Normative questions assessment of law 4. Example: Of Carrots, Sticks and Broken Windows 5. Why should a lawyer / economist be concerned with Law & Economics? Universität Zürich 7
8 Economic Concepts - Overview 1. Rational choice Optimization Incentives 2. Supply and demand Consumer and producer surplus Elasticity 3. Efficiency Pareto Kaldor-Hicks (extendet pareto efficiency) Universität Zürich 8
9 Rational Choice (1.) Opportunity Costs Preferences Decision-making between alternatives Go to cinema or opera? Costs? benefits? Costs (opera) = opera admission + missed movie Opportunity costs: missed alternative Individual preferences Money, publicity, love, prestige, etc. Alternatives can be evaluated or/and sorted A is better than B B is better than C Conclusion: A is better than C Universität Zürich 9
10 Economic Approach (1.) Analysis with theory and empirical approach Modelling with exceptions Actors are individuals Individual preferences Individual risk-aversion or risk-preference Actors act conscious and rational Evaluation of possible alternatives according to preferences Order of alternatives according to preferences Empirical approach: Individual preferences are made public through acting Universität Zürich 10
11 Restrictions Rational choice (1.) Restriction Optimization Money, time, knowledge, etc. Decision as optimisation or maximisation Economic actors maximise different target values Firms maximise profits Politicians maximise votes Charities maximise social welfare Individuals maximise their utility Optimisation: Maximal individual utility with the prevailing restrictions Universität Zürich 11
12 Rational choice with budget line and indifference curve (1.) Universität Zürich 12
13 Rational choice Incentives (1.) Economics is behavioural science Preferences stabil Price variable => Incentives variable Market prices affect optimisation Supply side Price effects Demand side Income effects Preferences Regulation and law affect market prices Universität Zürich 13
14 How Seat Belts Kill Rational choice Incentives (1.) USA, the 60 s: Regulations for road safety Obligation to wear safety belts, padded dashboards, etc. Effect: Less accidents? More accidents? Effects of ABS? Energy efficient electrical devices Totally more or less current consumption? Different relative effects Incentives are decisive! Universität Zürich 14
15 Book recommendation: Economics in a Different Way (1.) ISBN-10: ISBN-10: ISBN-10: Universität Zürich 15
16 Supply and Demand (2.) Willingness to pay / marginal utility => demand Decreasing marginal utility Consumer surplus Price is lower than willingness to pay Customer segmentation, price differentiation Marginal cost => supply Producer surplus Price exceeds marginal costs Producer surplus + consumer surplus = total welfare Universität Zürich 16
17 Elasticity Substitutability (2.) Price increase => less consumption Switch to other goods Similarity Absolute price / income Complementary goods Long run / short run Goods (Source: Heinz Kohler, Intermediate Microeconomics, 3rd ed. 1990) long run elasticity short run elasticity Petrol, oil Dishes Newspapers, magazines Car theft?????? Universität Zürich 17
18 Efficiency (3.) Productive Efficiency v. Allocative Efficiency Productive efficiency Maximum output from a given input or Given output with minimal input Allocative or Pareto efficiency It is not possible to make at least one person better off without making another person worse off NO improvement at the expense of others possible Fairness aspects No person worse off is seen as fair Research: pareto efficient solutions aren t always perceived as fair Universität Zürich 18
19 Efficiency (3.) Kaldor-Hicks or potential pareto Potential Pareto efficiency Kaldor-Hicks Being worse off is possible But: gainers compensate losers Extension of an airport Improvement (value 100 millions) Passengers, airlines, jobs, etc. More routes and destinations Deterioration (value 40 millions) Residents, environment, etc. Compensation payments Total welfare increases by 60 millions Universität Zürich 19
20 Agenda 1. Definition and development of Law & Economics 2. Economic concepts Rationality Supply and demand elasticity Efficiency 3. Application of economic concepts in law: Law & Economics Descriptive questions effects of law Normative questions assessment of law 4. Example: O 5. Why should a lawyer / economist be concerned with Law & Economics? 6. f Carrots, Sticks and Broken Windows Universität Zürich 20
21 What does this have to do with Law? Non-market activities governed by laws analysed with economics: Commit a crime? Conclude a contract? Get married? Go to court or settle? Drive carefully? Hire somebody? Pollute the environment? Make somebody a citizen? Sell babies? Legal norms affect decisions of individuals, market prices and efficiency in all areas Universität Zürich 21
22 Application of the Concepts: Law & Economics Two questions or types of analysis Descriptive (or positive) analysis Effects of law on behaviour => results E.g. Does death penalty lead to less homicides? Does tax law effect marriage rates? Etc. Normative analysis Effect of the (prevailing) law on social welfare E.g. How much or which consumer protection is welfaremaximising?, Does a competition law maximize welfare? Does a legal standard lead to efficient decisions? Are trade barriers welfare enhancing/reducing? Universität Zürich 22
23 Law & Economics Descriptive Questions A marriage market? A crime market? Are there market and non-market activities? Rational choice Cost v. utility of a crime/marriage Law affects cost and utility How do individuals act? Steal, because it is the cheapest way to get an Ipod? Marry to maximise happiness? Regression analysis provides answers Universität Zürich 23
24 Descriptive tools: regression analysis Cause-and-effect relationship Target variable y Explanatory variable(s) x (i) Ex.: y = a + bx + e (linear regression) Multiple regression One target variable Several explanatory variables Kind of dependency, strength Error probability, significance Example: What makes us happy? Universität Zürich 24
25 Law & Economics Descriptive Questions Legal norms affect relative prices Family law/tax law decreases the price for marriage Stricter criminal law increases the price of crimes Duty of care increases the price for reckless driving Severe punishments on illegal labour increases the costs/price of illegal labour Compulsory health care increases the prices of health insurance Divorce without assignment of guilt ( no fault ) decreases the price of divorces (and marriages?) Universität Zürich 25
26 Application of the law Law & Economics Normative Questions Analysis of the application of the law (Pareto) Efficient judgements? Interpretation discretion Economic interpretation Precedent legal standard Affects behaviour Reverses inefficient precedents Do courts decide welfare-maximising? Universität Zürich 26
27 Legislation Effect of legislation Law & Economics Normative Questions Do incentives lead to efficient behaviour? Are the right incentives used? Comparative analysis with other states Legislation amendments Analysis of drafts Amendments for efficient incentive structures Does law maximise our welfare? Universität Zürich 27
28 Law & Economics Three Features Stylizied Models and empirical tests Descriptive Analysis Rational actors No absolute but central assumptions Statements about the effectiveness of law ( Does lead to... ) Normative Analysis Makes normative statements ( Is better than... ) Total welfare as measure Universität Zürich 28
29 Agenda 1. Definition and development of Law & Economics 2. Economic concepts Rationality Supply and demand elasticity Efficiency 3. Application of economic concepts in law: Law & Economics Descriptive questions effects of law Normative questions assessment of law 4. Example: Of Carrots, Sticks and Broken Windows 5. Why should a lawyer / economist be concerned with Law & Economics? Universität Zürich 29
30 Law & Economics in use: Of Carrots, Sticks & Broken Windows The history about the mule Carrots => positive incentives Sticks => negative incentives The Broken Windows Thesis Misdemeanour offenses are important They lead to more serious crimes Smash windows => observer is not concerned Effect: Misdemeanour offenses must be prosecuted in a severe way Nip in the bud Prevent further escalation Universität Zürich 30
31 Requirement I: A verifiable and plausible model Source (also for the following illustrations): Corman Hope, Nocan Maci; Of Carrots, Sticks and Broken Windows; Journal of Law and Economics;Vol. XLVIII; Universität Zürich 31
32 Of Carrots, Sticks & Broken Windows Hypothesis: What impacts crime (CR)? Economic environment (carrots) Unemployment (UR) Real minimum wage (RMINW) Punishment (sticks) Arrest rate (detention per crime) (ARR) Number of NYC-citizens in prison (PRIS) Number of policemen in NYC (POL) Broken windows hypothesis in particular Number of arrests for misdemeanours offenses (MISARR) Control variables Number of people aged in NYC (TEENS) Seasonal control variables (SEAS) Universität Zürich 32
33 Requirement II: Empirical Data Criminality Universität Zürich 33
34 Requirment II: Empirical Data Detentions Universität Zürich 34
35 Requirement II: Empirical Data Policemen and Arrested Persons Universität Zürich 35
36 Requirement II: Empirical Data Total View Universität Zürich 36
37 Findings: Effects of Control Variables (1/2) Universität Zürich 37
38 Findings: Effects of Control Variables (2/2) Universität Zürich 38
39 Findings: Elasticities Universität Zürich 39
40 Findings: Explanatory Parts in the Changes Universität Zürich 40
41 Agenda 1. Definition and development of Law & Economics 2. Economic concepts Rationality Supply and demand elasticity Efficiency 3. Application of economic concepts in law: Law & Economics Descriptive questions effects of law Normative questions assessment of law 4. Example: Of Carrots, Sticks and Broken Windows 5. Why should a lawyer / economist be concerned with Law & Economics? Universität Zürich 41
42 Why should legal students/scholars be concerned with Law & Economics? Intellectual Enrichment New aspects of law Competitive edge in business Expertise, way of thinking => Understand your business partners! Legal policy, legislation Judge => future prospects and assessments Cases, Contracts and settlements with high sums of money Legal representative as investment advisor Contract jurisprudence Inefficient law concerns lawyers in particular Universität Zürich 42
43 Why should economics students/scholars be concerned with Law & Economics? Broadening horizons Economics not only for markets and economy in a narrow sense Law affects economics Model assumptions are often influenced by law Real world: Law as restrictions Competitive edge Law affects every professional and economic sector Positive analysis: potential improvements - Use and fill gaps Inefficient law Improvement opportunity, exploitation of capabilities Universität Zürich 43
Thinkwell s Homeschool Microeconomics Course Lesson Plan: 31 weeks
Thinkwell s Homeschool Microeconomics Course Lesson Plan: 31 weeks Welcome to Thinkwell s Homeschool Microeconomics! We re thrilled that you ve decided to make us part of your homeschool curriculum. This
Regional Economic Integration: Theoretical Concepts and their Application to the ASEAN Economic Community
24.11.2016 RELATED Regional Economic Integration: Theoretical Concepts and their Application to the ASEAN Economic Community Training Course Challenges and Opportunities of the ASEAN Economic Community
I assume familiarity with multivariate calculus and intermediate microeconomics.
Prof. Bryan Caplan bcaplan@gmu.edu Econ 812 http://www.bcaplan.com Micro Theory II Syllabus Course Focus: This course covers basic game theory and information economics; it also explores some of these
Thinkwell s Homeschool Economics Course Lesson Plan: 36 weeks
Thinkwell s Homeschool Economics Course Lesson Plan: 36 weeks Welcome to Thinkwell s Homeschool Economics! We re thrilled that you ve decided to make us part of your homeschool curriculum. This lesson
CHAPTER 18: ANTITRUST POLICY AND REGULATION
CHAPTER 18: ANTITRUST POLICY AND REGULATION The information in Chapter 18, while important, is only tested on the AP economics exam in the context of monopolies as discussed in Chapter 10. The important
Law & Economics Lecture 1: Basic Notions & Concepts
I. What is law and economics? Law & Economics Lecture 1: Basic Notions & Concepts Law and economics, a.k.a. economic analysis of law, is a branch of economics that uses the tools of economic theory to
Notes on exam in International Economics, 16 January, Answer the following five questions in a short and concise fashion: (5 points each)
Question 1. (25 points) Notes on exam in International Economics, 16 January, 2009 Answer the following five questions in a short and concise fashion: (5 points each) a) What are the main differences between
Econ 522 Review 3: Tort Law, Criminal Law, and the Legal Process
Econ 522 Review 3: Tort Law, Criminal Law, and the Legal Process Spring 2014 This document is by no means comprehensive, but instead serves as a rough guide to the material we have discussed on tort law,
Do not turn over until you are told to do so by the Invigilator.
UNIVERSITY OF EAST ANGLIA School of Economics Main Series PG Examination 2013-4 ECONOMIC THEORY I ECO-M005 Time allowed: 2 hours This exam has three sections. Section A (40 marks) asks true/false questions,
1.2 Efficiency and Social Justice
1.2 Efficiency and Social Justice Pareto Efficiency and Compensation As a measure of efficiency, we used net social benefit W = B C As an alternative, we could have used the notion of a Pareto efficient
Urban Crime. Economics 312 Martin Farnham
Urban Crime Economics 312 Martin Farnham Introduction Why do we care about urban crime? Crime tends to be concentrated in center city Characteristic of impoverished areas; likely both a cause and consequence
Centre for Economic and Social Studies
1. The following is the structure of question paper for Commerce: _ Managerial Economics, Accounting Type of Question Marketing, Management & Finance Marks Business Environment (a) Short Answer Type 5
Course: Economic Policy with an Emphasis on Tax Policy
Course: Economic Policy with an Emphasis on Tax Policy Instructors: Vassilis T. Rapanos email address: vrapanos@econ.uoa.gr Georgia Kaplanoglou email address: gkaplanog@econ.uoa.gr Course website: http://eclass.uoa.gr/courses/econ208/
The Cost-Benefit Analysis of Crime*
The Cost-Benefit Analysis of Crime* The Scope of Criminal Penalties There are over 4,450 criminal offenses in the United States Code. About 300,000 federal regulations that are enforced with criminal penalties.
LLB (Hon s) Programme:
LLB (Hon s) Programme: 1st Semester 1. ENG-321 Functional English 03(3-0) 2. PST-321 Pakistan Studies 02(2-0) 3. SOC-307 Introduction to Sociology 03(3-0) 4. ECO-408 Fundamental of Economics 03(3-0) 5.
Organized by. In collaboration with. Posh Raj Pandey South Asia Watch on Trade, Economics & Environment (SAWTEE)
Posh Raj Pandey South Asia Watch on Trade, Economics & Environment (SAWTEE) Training on International Trading System 7 February 2012 Kathamndu Organized by South Asia Watch on Trade, Economics & Environment
IMPACT OF IMMIGRATION AND OUTSOURCING ON THE LABOUR MARKET A Partial Equilibrium Analysis
IMPACT OF IMMIGRATION AND OUTSOURCING ON THE LABOUR MARKET A Partial Equilibrium Analysis Simontini Das, Ajitava Raychaudhuri, Saikat Sinha Roy Department of Economics Jadavpur University, Kolkata Conference
Chapter 17. The Labor Market and The Distribution of Income. Microeconomics: Principles, Applications, and Tools NINTH EDITION
Microeconomics: Principles, Applications, and Tools NINTH EDITION Chapter 17 The Labor Market and The Distribution of Income A key factor in a worker s earnings is educational attainment. In 2009, the
Economics 555 Potential Exam Questions
Economics 555 Potential Exam Questions * Evaluate the economic doctrines of the Scholastics. A favorable assessment might stress (e.g.,) how the ideas were those of a religious community, and how those
7 Chronic Poverty and Understanding Intra-household Differentiation 1
316 7 Chronic Poverty and Understanding Intra-household Differentiation 1 Kate Bird An understanding of the (intra-household) allocation of resources and responsibilities is essential to predict the consequences
Figure 1. Payoff Matrix of Typical Prisoner s Dilemma This matrix represents the choices presented to the prisoners and the outcomes that come as the
Proposal and Verification of Method to Prioritize the Sites for Traffic Safety Prevention Measure Based on Fatal Accident Risk Sungwon LEE a a,b Chief Research Director, The Korea Transport Institute,
AS-2606 B.COM. FIRST SEMESTER EXAMINATION, 2013 ELEMENTS OF ECONOMICS MODEL ANSWER
AS-2606 B.COM. FIRST SEMESTER EXAMINATION, 2013 ELEMENTS OF ECONOMICS SECTION A MODEL ANSWER 1. Select the correct answer: (i) The law of Variable Proportions has : a) Three stages. (ii) Which of the following
Types of Economies. 10x10learning.com
Types of Economies 1 Economic System and Types of Economies Economic System An Economic System is the broad institutional framework, within which production and consumption of goods and services takes
Chapter 2 Positive vs Normative Analysis
Lecture April 9 Positive vs normative analysis Social choices Chapter 2 Positive vs Normative Analysis Positive economic analysis: observes and describes economic phenomena objectively. Normative economic
Earnings Differences. Chapter 17. Skill Differentials. The Demand for High-Skilled and Low- Skilled Labor. Union-Nonunion Wage Differentials
CHAPTER CHECKLIST Earnings Differences Chapter 17 1. Explain why college graduates earn more, on the average, than high school graduates. 2. Explain why union workers earn higher wage rates than nonunion
Chapter 5. Labour Market Equilibrium. McGraw-Hill/Irwin Labor Economics, 4 th edition
Chapter 5 Labour Market Equilibrium McGraw-Hill/Irwin Labor Economics, 4 th edition Copyright 2008 The McGraw-Hill Companies, Inc. All rights reserved. 5-2 Introduction Labour market equilibrium coordinates
CH 19. Name: Class: Date: Multiple Choice Identify the choice that best completes the statement or answers the question.
Class: Date: CH 19 Multiple Choice Identify the choice that best completes the statement or answers the question. 1. In the United States, the poorest 20 percent of the household receive approximately
The Minimum Wage. Introduction. Impacts on Employment
The Minimum Wage Copyright 2013 by Tony Lima. Permission is granted to quote entire paragraphs of text without editing. If you wish to edit a paragraph, I must approve your editing before you publish it.
Chapter 10. Resource Markets and the Distribution of Income. Copyright 2011 Pearson Addison-Wesley. All rights reserved.
Chapter 10 Resource Markets and the Distribution of Income Resource markets differ from markets for consumer goods in several key ways First, the demand for resources comes from firms producing goods and
WHEN IS THE PREPONDERANCE OF THE EVIDENCE STANDARD OPTIMAL?
Copenhagen Business School Solbjerg Plads 3 DK -2000 Frederiksberg LEFIC WORKING PAPER 2002-07 WHEN IS THE PREPONDERANCE OF THE EVIDENCE STANDARD OPTIMAL? Henrik Lando www.cbs.dk/lefic When is the Preponderance
6/4/2009. The Labor Market, Income, and Poverty. Microeconomics: Principles, Applications, and Tools O Sullivan, Sheffrin, Perez 6/e.
1 of 37 2 of 37 Income, and Poverty Recent reports on the earnings of college graduates have made the jobs of college recruiters easier. P R E P A R E D B Y FERNANDO QUIJANO, YVONN QUIJANO, AND XIAO XUAN
Political Science Introduction to American Politics
1 / 17 Political Science 17.20 Introduction to American Politics Professor Devin Caughey MIT Department of Political Science Lecture 2: Analytic Foundations February 7, 2013 2 / 17 Outline 1 Collective
Unit One Introduction to law
Unit One Introduction to law GCSE Law Year 10 Mrs Fyfe 2011-2012 1 adapted from GCSE Law by J Martin What is law? It is difficult to give a short simple answer to this question. There is no generally agreed
Prof. Bryan Caplan Econ 854
Prof. Bryan Caplan bcaplan@gmu.edu http://www.bcaplan.com Econ 854 Week : The Logic of Collective Action I. The Many Meanings of Efficiency A. The Merriam-Webster College Dictionary defines "efficiency"
2. Welfare economics and the rationale for public intervention 2.3. Equity: From Social Efficiency to Social Welfare
2. Welfare economics and the rationale for public intervention (Stiglitz ch.3, 4, 5; Gruber ch.2,5,6,7; Rosen ch. 4,5,6, 8; Salverda et al. (2009), The Oxford handbook of economic inequality, Oxford University
PS 0500: Basic Models of Conflict and Cooperation. William Spaniel williamspaniel.com/classes/worldpolitics
PS 0500: Basic Models of Conflict and Cooperation William Spaniel williamspaniel.com/classes/worldpolitics Outline Background The Prisoner s Dilemma The Cult of the Offensive Tariffs and Free Trade Arms
PSC/IR 106: Basic Models of Conflict and Cooperation. William Spaniel williamspaniel.com/ps
PSC/IR 106: Basic Models of Conflict and Cooperation William Spaniel williamspaniel.com/ps-0500-2017 Outline Background The Prisoner s Dilemma The Cult of the Offensive Tariffs and Free Trade Arms Races
Introduction to Economics
Introduction to Economics ECONOMICS Chapter 7 Markets and Government contents 7.1 7.2 7.3 7.4 7.5 7.6 Roles Markets Play Efficient Allocation of Resources Roles Government Plays Public Goods Problems of
PSC/IR 106: Basic Models of Conflict and Cooperation. William Spaniel williamspaniel.com/pscir-106
PSC/IR 106: Basic Models of Conflict and Cooperation William Spaniel williamspaniel.com/pscir-106 Outline Background The Prisoner s Dilemma The Cult of the Offensive Tariffs and Free Trade Arms Races Repeated
Crime and Corruption: An International Empirical Study
Proceedings 59th ISI World Statistics Congress, 5-3 August 13, Hong Kong (Session CPS111) p.985 Crime and Corruption: An International Empirical Study Huaiyu Zhang University of Dongbei University of Finance
ECON 1100 Global Economics (Section 05) Exam #1 Fall 2010 (Version A) Multiple Choice Questions ( 2. points each):
ECON 1100 Global Economics (Section 05) Exam #1 Fall 2010 (Version A) 1 Multiple Choice Questions ( 2 2 points each): 1. A Self-Interested person A. cares only about their own well-being (and does not
The New Institutional Economics Basic Concepts and Selected Applications
The New Institutional Economics Basic Concepts and Selected Applications Prof. Dr. Stefan Voigt (Universität Kassel) 1. Introduction Globally, only few people have high incomes, but billions have very
Economic Independence of Women. A pre condition to full participation of women. NGO Report for the UPR review of the Iranian Government
Economic Independence of Women A pre condition to full participation of women NGO Report for the UPR review of the Iranian Government House of Culture and Sustainable Development August 2009 Economic independence
When users of congested roads may view tolls as unjust
When users of congested roads may view tolls as unjust Amihai Glazer 1, Esko Niskanen 2 1 Department of Economics, University of California, Irvine, CA 92697, USA 2 STAResearch, Finland Abstract Though
Chapter 4. Preview. Introduction. Resources, Comparative Advantage, and Income Distribution
Chapter 4 Resources, Comparative Advantage, and Income Distribution Slides prepared by Thomas Bishop Copyright 2009 Pearson Addison-Wesley. All rights reserved. Preview Production possibilities Relationship
This page intentionally left blank
ECONOMICS OF THE LAW This page intentionally left blank ECONOMICS OF THE LAW TORTS, CONTRACTS, PROPERTY, LITIGATION Thomas J. Miceli New York Oxford Oxford University Press 1997 Oxford University Press
Chapter 5. Resources and Trade: The Heckscher-Ohlin Model
Chapter 5 Resources and Trade: The Heckscher-Ohlin Model Preview Production possibilities Changing the mix of inputs Relationships among factor prices and goods prices, and resources and output Trade in
Volume Title: Trade Policy Issues and Empirical Analysis. Volume URL:
This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Trade Policy Issues and Empirical Analysis Volume Author/Editor: Robert E. Baldwin, ed. Volume
The Political Economy of State-Owned Enterprises. Carlos Seiglie, Rutgers University, N.J. and Luis Locay, University of Miami. FL.
The Political Economy of State-Owned Enterprises Carlos Seiglie, Rutgers University, N.J. and Luis Locay, University of Miami. FL. In this paper we wish to explain certain "stylized facts" of the Cuban
Unemployment and the Immigration Surplus
Unemployment and the Immigration Surplus Udo Kreickemeier University of Nottingham Michael S. Michael University of Cyprus December 2007 Abstract Within a small open economy fair wage model with unemployment
Chapter 4 Specific Factors and Income Distribution
Chapter 4 Specific Factors and Income Distribution Chapter Organization Introduction The Specific Factors Model International Trade in the Specific Factors Model Income Distribution and the Gains from
Running head:relationship between elderly crime and the social welfare system. Hiroaki Enoki, Kiyohiko Katahira
Original article Running head:relationship between elderly crime and the social welfare system Statistical relationship between elderly crime and the social welfare system in Japan: Preventative welfare
Development Economics at HECER. Channing Arndt. Dual Economy Models and Rural-Urban Migration
Development Economics at HECER Channing Arndt Dual Economy Models and Rural-Urban Migration September 2016 Readings and curriculum M.P. Todaro and S.C. Smith, 2009. Economic Development, Addison- Wesley,
2.2. From social efficiency to social welfare - Equity issues (Stiglitz ch.5, Gruber ch.2)
2.2. From social efficiency to social welfare - Equity issues (Stiglitz ch.5, Gruber ch.2) We have discussed how to achieve social efficiency (Pareto efficiency): according to the first theorem of welfare
B 3. THE PROPER ECONOMIC ROLES OF GOVERNMENT
B 3. THE PROPER ECONOMIC ROLES OF GOVERNMENT 1. Government, through a political process, is the agency through which public policy is determined and in part carried out. a) It is one of the means employed
International Trade Theory College of International Studies University of Tsukuba Hisahiro Naito
International Trade Theory College of International Studies University of Tsukuba Hisahiro Naito The specific factors model allows trade to affect income distribution as in H-O model. Assumptions of the
The Political Economy of Trade Policy
The Political Economy of Trade Policy 1) Survey of early literature The Political Economy of Trade Policy Rodrik, D. (1995). Political Economy of Trade Policy, in Grossman, G. and K. Rogoff (eds.), Handbook
Otto von Guericke - University Magdeburg
Otto von Guericke - University Magdeburg Faculty of Economics and Management Seminar: PD Dr. Roland Kirstein Winter Term 2006/2007 Topic: Can punishment ever be efficient? Name: Anne Kartes Matriculation
Agnieszka Pawlak. Determinants of entrepreneurial intentions of young people a comparative study of Poland and Finland
Agnieszka Pawlak Determinants of entrepreneurial intentions of young people a comparative study of Poland and Finland Determinanty intencji przedsiębiorczych młodzieży studium porównawcze Polski i Finlandii
Political Science Graduate Program Class Schedule - Spring 2016
Political Science Graduate Program Class Schedule - Spring 2016 American Politics updated 1.5.2016 No classes offered for Spring 2016 International Relations 60205 International Political Economy Amitava
Introduction. Equilibrium in a Single Competitive Labor Market. (Pareto) Efficiency. Competitive Equilibrium Across Labor Markets.
Chapter 4 Labor Market Equilibrium Introduction Labor market equilibrium coordinates the desires of firms and workers, determining the wage and employment observed in the labor market. Market types: Monopsony:
International Economic Geography Migration
International Economic Geography Migration dr hab. Bart Rokicki Chair of Macroeconomics and Foreign Trade Theory Faculty of Economic Sciences, University of Warsaw What are the motives for migration? Responding
1. Introduction. Michael Finus
1. Introduction Michael Finus Global warming is believed to be one of the most serious environmental problems for current and hture generations. This shared belief led more than 180 countries to sign the
Section 1: Microeconomics. 1.1 Competitive Markets: Demand and Supply. IB Econ Syllabus Outline. Markets Ø The Nature of Markets
IB Economics Syllabus Outline Mr. R.S. Pyszczek Jr. Room 220 Rpyszczek@BuffaloSchools.org City Honors School at Fosdick- Masten Park 186 East North Street Buffalo, NY 14204 Phone: (7160 816-4230 Fax: (716)
Experimental Computational Philosophy: shedding new lights on (old) philosophical debates
Experimental Computational Philosophy: shedding new lights on (old) philosophical debates Vincent Wiegel and Jan van den Berg 1 Abstract. Philosophy can benefit from experiments performed in a laboratory
STUDY PROGRAMME OF THE 22nd CLASS DIRECTION OF CIVIL-CRIMINAL JUSTICE
STUDY PROGRAMME OF THE 22nd CLASS DIRECTION OF CIVIL-CRIMINAL JUSTICE FIRST STAGE OF TRAINING - TOTAL OF 2 HOUR LESSONS 117 Α/Α LESSONS TUTORS POSITION SECTION PLANNED LESSONS 1 History of Justice- Professional
A LEVEL LAW SUMMER HOMEWORK. The Nature of Law
The Nature of Law Need to be able to understand the distinction between legal rules and other rules or norms of behaviour Need to be able to understand the differences between Criminal and Civil law Need
Commentary on Session IV
The Historical Relationship Between Migration, Trade, and Development Barry R. Chiswick The three papers in this session, by Jeffrey Williamson, Gustav Ranis, and James Hollifield, focus on the interconnections
CHAPTERB URBAN LABOUR AND MIGRATION
CHAPTERB URBAN LABOUR AND MIGRATION B.1 INTRODUCTION The purpose of this chapter is to discuss the urban labour market where it is assumed that the households and firms can move freely between cities.
Voter Participation with Collusive Parties. David K. Levine and Andrea Mattozzi
Voter Participation with Collusive Parties David K. Levine and Andrea Mattozzi 1 Overview Woman who ran over husband for not voting pleads guilty USA Today April 21, 2015 classical political conflict model:
INTERNATIONAL ECONOMICS, FINANCE AND TRADE Vol. II - Strategic Interaction, Trade Policy, and National Welfare - Bharati Basu
STRATEGIC INTERACTION, TRADE POLICY, AND NATIONAL WELFARE Bharati Basu Department of Economics, Central Michigan University, Mt. Pleasant, Michigan, USA Keywords: Calibration, export subsidy, export tax,
Determinants and effects of government size: Overview of theory and the Greek experience
Determinants and effects of government size: Overview of theory and the Greek experience Chris Tsoukis Economics, London Metropolitan Business School Ministry of Economy, Competitiveness & Shipping Senior
PAPER No. : Basic Microeconomics MODULE No. : 1, Introduction of Microeconomics
Subject Paper No and Title Module No and Title Module Tag 3 Basic Microeconomics 1- Introduction of Microeconomics ECO_P3_M1 Table of Content 1. Learning outcome 2. Introduction 3. Microeconomics 4. Basic
Comments on: State Television and Voter Information
Comments on: State Television and Voter Information Justin Wolfers Stanford GSB & NBER Media Conference: March 6, 2004 1 Research Questions How does the presence of governmentcontrolled media affect political
Postscript: Subjective Utilitarianism
University of Chicago Law School Chicago Unbound Journal Articles Faculty Scholarship 1989 Postscript: Subjective Utilitarianism Richard A. Epstein Follow this and additional works at: http://chicagounbound.uchicago.edu/journal_articles
Prof. Bryan Caplan Econ 812
Prof. Bryan Caplan bcaplan@gmu.edu http://www.bcaplan.com Econ 812 Week 14: Economics of Politics I. The Median Voter Theorem A. Assume that voters' preferences are "single-peaked." This means that voters
1. At the completion of this course, students are expected to: 2. Define and explain the doctrine of Physiocracy and Mercantilism
COURSE CODE: ECO 325 COURSE TITLE: History of Economic Thought 11 NUMBER OF UNITS: 2 Units COURSE DURATION: Two hours per week COURSE LECTURER: Dr. Sylvester Ohiomu INTENDED LEARNING OUTCOMES 1. At the
Economics 320F An Economic Analysis of Law Midterm Exam Suggested Answers
Economics 320F An Economic Analysis of Law Midterm Exam Suggested Answers Fall 2003 University of Toronto Joanne Roberts Please answer all parts of the exam in the exam booklet provided. Calculators are
Immigration and Jobs in Your Community: What is the real impact of undocumented workers?
Innovations in Economic Development Forum Immigration and Jobs in Your Community: What is the real impact of undocumented workers? Myriam Quispe-Agnoli Community and Economic Development Economist Federal
Escalating Penalties for Repeat Offenders
Escalating Penalties for Repeat Offenders Winand Emons 03-15 October 2003 Diskussionsschriften Universität Bern Volkswirtschaftliches Institut Gesellschaftstrasse 49 3012 Bern, Switzerland Tel: 41 (0)31
The Poverty of Macro Laws in the Social Sciences
The Poverty of Macro Laws in the Social Sciences Prof. Dr. Karl-Dieter Opp Universität Leipzig (Emeritus) University of Washington, Seattle (Affiliate Professor) opp@sozio.uni-leipzig.de Conference "Rational
10/11/2017. Chapter 6. The graph shows that average hourly earnings for employees (and selfemployed people) doubled since 1960
Chapter 6 1. Discuss three US labor market trends since 1960 2. Use supply and demand to explain the labor market 3. Use supply and demand to explain employment and real wage trends since 1960 4. Define
University of Vermont Department of Economics Course Outline
University of Vermont Department of Economics Course Outline EC 135 Professor Catalina M. Vizcarra Time: T/TH 11:40-12:55 P.M. 342 Old Mill Room: Jeffords Hall 127 Phone: 6-0694 Spring 2017 Office Hours:
An Essay in Bobology 1. W.MAX CORDEN University of Melbourne, Melbourne, Australia
This paper about Bob Gregory was published in The Economic Record, Vol 82, No 257, June 2006, pp. 118-121. It was written on the occasion of the Bobfest in Canberra on 15 th June 2005. An Essay in Bobology
MODELLING RATIONAL AGENTS: FROM INTERWAR ECONOMICS TO. The fame of Nicola Giocoli s book precedes it it has already gained awards from
MODELLING RATIONAL AGENTS: FROM INTERWAR ECONOMICS TO EARLY MODERN GAME THEORY Nicola Giocoli Cheltenham: Edward Elgar, 2003, pp. x + 464. ISBN 1 84064 868 6, 79.95 hardcover. The fame of Nicola Giocoli
EXECUTIVE SUMMARY OF THE TANZANIA COUNTRY RISK ASSESSMENT
EXECUTIVE SUMMARY OF THE TANZANIA COUNTRY RISK ASSESSMENT The CRA performed on Tanzania has investigated each human right from the Universal Declaration of Human Rights (UDHR) at three levels. First, the
Preview. Chapter 9. The Cases for Free Trade. The Cases for Free Trade (cont.) The Political Economy of Trade Policy
Chapter 9 The Political Economy of Trade Policy Preview The cases for free trade The cases against free trade Political models of trade policy International negotiations of trade policy and the World Trade
Book Reveiw: Where to From Here? Australian Egalitarianism under Threat by Argy, Fred
Journal of Economic and Social Policy Volume 8 Issue 2 Article 7 1-1-2004 Book Reveiw: Where to From Here? Australian Egalitarianism under Threat by Argy, Fred Lindy Edwards Follow this and additional
Final Exam. Thursday, December hour, 30 minutes
San Francisco State University Michael Bar ECON 605 Fall 007 Final Exam Thursday, December 0 hour, 30 minutes Name: Instructions 1. This is closed book, closed notes exam.. No calculators of any kind are
CASE 12: INCOME INEQUALITY, POVERTY, AND JUSTICE
CASE 12: INCOME INEQUALITY, POVERTY, AND JUSTICE The Big Picture The headline in the financial section of the January 20, 2015 edition of USA Today read, By 2016 1% will have 50% of total global wealth.
School of Public Policy INTRODUCTION CORE INFORMATION PROGRAMME SPECIFICATIONS. MPhil (18 years of formal education)
INTRODUCTION The PIDE School of Public Policy (PSPP) aims to bridge the research policy gap in Pakistan through high quality academic programmes, policy oriented research and executive training. The School
Chetek-Weyerhaeuser High School
Chetek-Weyerhaeuser High School Law and the Stock Market Units and s Unit 1 Understanding Civil and Criminal Law (8 days) How are civil and criminal laws used to argue guilt or innocence in a courtroom?
IMPACT OF TRADE LIBERALISATION ON EMPLOYMENT IN BANGLADESH SUMMARY OF RESULTS AND POLICY IMPLICATIONS
IMPACT OF TRADE LIBERALISATION ON EMPLOYMENT IN BANGLADESH SUMMARY OF RESULTS AND POLICY IMPLICATIONS [The following summary presents major findings of a study recently undertaken jointly by the Centre
What Should Lawyers Know about Economics
Texas A&M University School of Law Texas A&M Law Scholarship Faculty Scholarship 1998 What Should Lawyers Know about Economics Robert Whaples Andrew P. Morriss Texas A&M University School of Law, amorriss@law.tamu.edu
EXAMINATION 3 VERSION B "Wage Structure, Mobility, and Discrimination" April 19, 2018
William M. Boal Signature: Printed name: EXAMINATION 3 VERSION B "Wage Structure, Mobility, and Discrimination" April 19, 2018 INSTRUCTIONS: This exam is closed-book, closed-notes. Simple calculators are
University of Georgia Department of Public Administration and Policy DPAP 8670: Public Policy Analysis I Fall 2017 COURSE SYLLABUS
University of Georgia Department of Public Administration and Policy DPAP 8670: Public Policy Analysis I Fall 2017 COURSE SYLLABUS Professor: David Bradford Office: 201C Baldwin Hall E-mail: bradfowd@uga.edu
Use and abuse of voter migration models in an election year. Dr. Peter Moser Statistical Office of the Canton of Zurich
Use and abuse of voter migration models in an election year Statistical Office of the Canton of Zurich Overview What is a voter migration model? How are they estimated? Their use in forecasting election
Chapter 8 Economic Integration, Labour Markets and Migration
Chapter 8 Economic Integration, Labour Markets and Migration Chapter Overview Unemployment Economic integration and the labour markets Migration 1 2 Why Labour Markets Matter Controversies Abound Economic
Naked Economics: Chapter 8 The Power of Organized Interests Real Life Economics November 12, 2010
Naked Economics: Chapter 8 The Power of Organized Interests Real Life Economics November 12, 2010 If we know so much about public policy, then why is everything so messed up? Economists often propose policies
PubPol Values, Ethics, and Public Policy, Fall 2009
University of Michigan Deep Blue deepblue.lib.umich.edu 2010-03 PubPol 580 - Values, Ethics, and Public Policy, Fall 2009 Chamberlin, John Chamberlin, J. (2010, March 29). Values, Ethics, and Public Policy.