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Die volkswirtschaftlichen kosten des umweltschutzes

Summary The Economic Costs of Depollution — An enlarged Input-Output System. — The economic costs of depollution can be calculated by means of an input-output table to which a “pollution matrix” and a “depollution matrix” have been added, provided the tolerable amounts of pollution have been established. Two hypothetical cases are examined: (1) depollution is undertaken exclusively by the state; (2) the relevant production sections are responsible for 50 per cent of depollution (“causer principle”). If, in the two cases, the amounts of final consumption are the same, their values are “inflated” in the same degree by the depollution activities, i.e., by the economic costs of depollution. In both cases the costs are borne by the final consumer — in the first case, through taxation only; in the second, through taxation as well as higher prices. The real effect is a decrease in final provisions per capita of employed.

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Résumé Les co?ts économiques de la dépollution — Un système input-output élargi. — Les co?ts économiques de la dépollution peuvent être calculés au moyen d’un tableau d’input-output, auquel on a ajouté une ?matrice de pollution? et une ?matrice de dépollution?, si l’on a établi les quantités tolérables de pollution. Deux cas hypothétiques sont examinés: 1. la dépollution purement publique; 2. la dépollution réalisée en moitié par les secteurs de production responsables (principe de responsabilité). Si les quantités de consommation finale sont les mêmes dans ces deux cas, leur valeur est ?gonflée? au même degré par les mesures de dépollution, c’est à dire, par les co?ts économiques de la dépollution. Ces co?ts retombent sur le consommateur final: dans le premier cas, à travers l’imposition; dans le second, à travers l’imposition et une hausse des prix. L’effet réel en est une baisse de l’approvisionnement final par employé.

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Resumen Los costos sociales de protección contra la contaminación atmosférica. — Un sistema input-output ampliado. — Los costos sociales de medidas encaminadas a impedir la contaminación atmosférica pueden medirse en el marco de un sistema input-output ampliado por una ?matriz de contaminación? y una ?matriz de menos — abastecimiento?. Ademas se pueden fijar márgenes de tolerancia para la contaminación. El autor analiza dos casos hipotéticos: (1) La proteccion corre exclusivamente a cargo del Estado; (2) Los sectores de producción partitipan en un 50 por 100 en la eliminación de la contaminación. Siendo idéntico en ambos casos el consumo final cuantitativo, el valor del consumo final queda ?inflacionado? de acuerdo con los costos sociales de protección. El consumidor paga estos costos o bien a través de impuestos (1er caso), o bien a través de precios incrementados 2do caso). En términos reales, estos costos producen una reducción en el abastecimiento final por persona empleada.

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Riassunto I costi economici della difesa dell’ainbiente — Un allargato sistema input-output. — I. costi economici della difesa dell’ambiente possono essere accertati per mezzo di una allargata tabella input-output che includa una ?matrice di inquinamento? ed una ?di depurazione?, quando oltre a ciò sono fissate quantità di tolleranza degli inquinamenti. Due casi ipotetici sono esaminati: 1. difesa dell’ambiente condotta totalmente dallo Stato e 2. eliminazione del 50 per cento dell’inquinamento per mezzo dei settori di produzione (?principio di chi lo ha cagionato?). In consumo finale quantitativamente uguale, il valore del consumo finale in ambedue i casi viene ?gonfiato?, per mezzo della difesa attiva dell’ambiente, dello stesso importo, cioè dei costi economici della difesa dell’ambiente. Nel primo caso questi sono sostenuti soltanto per mezzo di imposte, nel secondo caso anche da prezzi aumentati del prodotto sostenuti dal consumatore finale. Realmente essi causano una diminuzione dell’approvigionamento finale per occupato.

     

Overeducation,undereducation, and the theory of career mobility

The theory of career mobility (Sicherman and Galor, Journal of Political Economy, 98(1), 169–92, 1990) claims that wage penalties for overeducated workers are compensated by better promotion prospects. Sicherman (Journal of Labour Economics, 9(2), 101–22, 1991) was able to confirm this theory in an empirical study using panel data. However, the only retest using panel data so far (Robst, Eastern Economic Journal, 21, 539–50, 1995 Robst, J. 1995. Career mobility, job match, and overeducation. Eastern Economic Journal, 21: 539–50.  ) produced rather ambiguous results. In the present paper, random effects models to analyse relative wage growth are estimated using data from the German Socio-Economic Panel. It is found that overeducated workers in Germany have markedly lower relative wage growth rates than adequately educated workers. The results cast serious doubt on whether the career mobility model is able to explain overeducation in Germany. The plausibility of the results is supported by the finding that overeducated workers have less access to formal and informal on-the-job training, which is usually found to be positively correlated with wage growth even when controlling for selectivity effects (Pischke, Journal of Population Economics, 14, 523–48, 2001).     

Optimal execution strategies in limit order books with general shape functions

We consider optimal execution strategies for block market orders placed in a limit order book (LOB). We build on the resilience model proposed by Obizhaeva and Wang (2005 Obizhaeva, A and Wang, J. 2005. Optimal trading strategy and supply/demand dynamics, Preprint Available online at: http://www.rhsmith.umd.edu/faculty/obizhaeva/OW060408.pdf (accessed 16 February 2009)[Crossref] , [Google Scholar]) but allow for a general shape of the LOB defined via a given density function. Thus, we can allow for empirically observed LOB shapes and obtain a nonlinear price impact of market orders. We distinguish two possibilities for modelling the resilience of the LOB after a large market order: the exponential recovery of the number of limit orders, i.e. of the volume of the LOB, or the exponential recovery of the bid–ask spread. We consider both of these resilience modes and, in each case, derive explicit optimal execution strategies in discrete time. Applying our results to a block-shaped LOB, we obtain a new closed-form representation for the optimal strategy of a risk-neutral investor, which explicitly solves the recursive scheme given in Obizhaeva and Wang (2005 Obizhaeva, A and Wang, J. 2005. Optimal trading strategy and supply/demand dynamics, Preprint Available online at: http://www.rhsmith.umd.edu/faculty/obizhaeva/OW060408.pdf (accessed 16 February 2009)[Crossref] , [Google Scholar]). We also provide some evidence for the robustness of optimal strategies with respect to the choice of the shape function and the resilience-type.     

Household survey data for research on well-being and behavior in Central Asia

This paper summarizes the micro-level survey evidence from Central Asia generated and analyzed in the period 1991–2012. We provide an exhaustive overview over all accessible individual and household-level surveys undertaken in Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan – and of all academic papers published using these datasets. We argue that Central Asia is a fascinating region for the study of comparative economics given its dual experience of transition and development. However, the region is also understudied, in part due to lack of data, and especially due to a lack of panel data. We identify knowledge gaps derived from this lack of longitudinal surveys and suggest worthwhile areas for future research. Finally, we also present a new and novel individual-level panel dataset called “Life in Kyrgyzstan”.     

Mapping Research Topics and Theories in Private Regulation for Sustainability in Global Value Chains

The globalization of production and trade has contributed to the rise in complex global value chains where the reach of state regulation is limited. As an alternative, private regulation, developed and administered by companies, industry associations, and nongovernmental organizations, has emerged to safeguard economic, environmental, and social sustainability in producer countries and along the value chain. The academic literature on private regulation in global value chains has grown over the last decade, but currently few major reviews of the research have been undertaken. This paper examines peer-reviewed research in the relevant disciplines published in academic journals up to December 2011. Our goal is to identify and classify the topics and theories in the global value chain literature. We conclude that the number of articles explicitly examining private regulation, in a global value chain context, is relatively small when considering the importance and growth of these chains in the world’s economy. We also conclude that agriculture, forestry, and apparel manufacturing are the most often studied economic sectors; in contrast, other sectors, such as the information, communication and technology, with their complex global value chains, and often problematic environmental and social conditions, are understudied.