Henry George and Europe: As Dissident Economist and Path-breaking Philosopher, He was a Catalyst for British Social Reform

Abstract . Henry George's influence was greater in the United Kingdom than in the United States. The 80s and 90s there were particularly favorable for the reception of his revolutionary ideas. Though, thanks to such thinkers as Alfred Russell Wallace and James and John Stuart Mill, a land reform movement already existed, its sudden rise to national significance was due to George. George's writing and speaking skills and his dedication moved many serious citizens into the political Left and heavily influenced men and women who became leaders of British non-Marxian socialism, at the formation and consolidation of their movement. While George's followers broke with both the Wallace and socialist movements, George's rhetorical talents awakened the broad circles of thinking people to a consciousness of the full range of the social question.     

RECENT DEVELOPMENTS IN THE THEORY OF NATURAL MONOPOLY

Abstract. This paper examines two important recent developments in the theory of natural monopoly, or more generally the theory of market structure. The first is a series of papers, involving Baumol with various co-authors, investigating the theory of industry structure, whilst the second is particularly associated with the names of Shaked and Sutton, and the relationship they develop between product differentiation and industry structure. The paper surveys and to some extent contrasts these two new approaches.
Baumol et al. 's contribution is seen to be in the area of clarifying the concept of natural monopoly, refining the definitions of multiproduct costs, and developing a notion of social efficiency applicable to industries where economies of scale are important. Shaked and Sutton employ a new definition of natural monopoly unrelated to market size and utilize information about consumers'income distributions to develop their notion of vertical product differentiation and natural oligopoly.     

Tax Competition, Capital Mobility and Innovation in the Public Sector

Abstract. The paper analyses the impact of tax competition on innovation in the public sector. It is shown that the effects of increased mobility of the tax base on innovation and growth are ambiguous. The negative relationship is more likely, however. Moreover, it is shown that a Leviathan government may be induced to spend a larger share of its budget on unproductive activities.     

Tariffs,quotas, and voluntary export restraints with endogenous labor supply

This paper develops a two-good, small-country, general equilibrium trade model with endogenous labor supply and wage taxes, and where trade is restricted by a tariff, or an import quota, or VERs. Within this framework we derive (i) the employment and welfare effects of the three types of trade restrictions, (ii) the price effect of an import quota and VERs, and (iii) the shadow price of foreign exchange under each type of trade restriction. The present results are compared to those where (i) factor supplies are fixed, and (ii) perfect international capital mobility exists.     

Soviet agricultural procurement pricing: A study in perversity

The relationship between Soviet agricultural procurement prices and quantities is examined in the light of the existence of bonuses for above-trend sales (BATS) and zonal price differentiation (ZPD). That BATS leads to a positive relationship between prices and quantities as harvest conditions vary is shown to hold for the individual farm. Planners are apt, however, to be more concerned with the “average” price of a crop, which is closely related to the subsidy bill. This price is more likely to be “perverse” under ZPD than BATS, although neither guarantees perversity. Data suggest that such perversity is a common occurrence. J. Comp. Econ., March 1985, 9(1), pp. 24–45. Illinois State University, Normal, Illinois 61761.     

A note on the statistical properties of aggregate q measures

Many different measures of Tobin's q have been proposed which differ in measurement methods and data sources. This paper evaluates the similarities and differences in the statistical properties of the different measures using ARIMA and factor analysis methods. The statistical properties of average and marginal q measures are found to be quite different.     

IMPLEMENTING A TRADE FACILITATION AGREEMENT IN THE WTO: WHAT MAKES SENSE?

Abstract.  In the Doha Round, trade facilitation is the negotiating issue in which the 'implementation issue' is most prominent. At the WTO (the Doha Development Agenda) the international community has approached the implementation problem as a challenge to restore mercantilist balance rather than as a need to build good economics into future agreements. The international community has taken on aggressively the development dimensions of trade facioitation through the development banks, bilateral aid agencies and other specialized institutions. Considerable funding has been provided. Though little progress has been made through WTO negotiations, the content of these development programs is supportive of development.     

The impact of endogenous tax treaties on foreign direct investment: theory and evidence

Abstract .  This paper investigates the effect of tax treaties on bilateral stocks of outward FDI. For this purpose we employ a numerically solvable general equilibrium model of trade and multinational firms to study the impact of tax treaties on both welfare and outward FDI. The model indicates under which factor endowment configurations countries gain in welfare when implementing a tax treaty. This motivates an empirical specification of the endogenous selection into implementing new tax treaties. Using data of bilateral OECD outward FDI between 1985 and 2000, we find a significant negative impact of newly implemented tax treaties on outward FDI stocks.     

The price relationship between organic and non-organic vegetables in the U.S.: evidence from Nielsen scanner data

This study investigates price relationships between organic and conventional carrots, tomatoes, and lettuce in the U.S. utilizing Nielsen scanner data from 2006–2015. We employ a threshold vector error correction model (TVECM), threshold vector autoregressive model (TVAR), and threshold cointegration test to test whether market integration exists between organic and conventional vegetables as well as the existence of asymmetric price transmission. The results find positive long-run relationships between organic and conventional prices of carrots and tomatoes and show the existence of asymmetric price transmission in price pairs of lettuce and tomatoes. Our findings suggest that the price relationship between organic and conventional vegetables varies by characteristics, such as shelf life, volatility in the price premium, and substitutability.