In or out? explaining state shares of the tobacco Master Settlement Agreement

In 1998, 46 states were involved in a Master Settlement Agreement (MSA) with the tobacco industry. The other four states settled on their own. Our goal is to answer a counter factual question: how would these four states have fared had they been included in the MSA? We use data from Viscusi (2002 Viscusi WK (2002) Smoke‐Filled Rooms Chicago University of Chicago Press  [Google Scholar]) to explain settlement shares for states participating in the 1998 tobacco MSA, and to predict settlement shares for the four nonparticipating states. We find that two nonparticipating states (Minnesota and Mississippi) may have fared substantially worse had they been included in the MSA.     

不锈钢供水管道中铬元素迁移及防控技术

选择国内企业生产的不锈钢供水管道,用余氯和硬度分别为2、100 mg/L的浸泡液浸泡24 h,并检测水质中六价铬的变化。结果显示,浸泡液中的六价铬变化与不锈钢供水管道的工艺有很大关系,焊缝处理、打磨抛光、酸洗钝化三个条件都对六价铬的迁移有很大影响。     

Financial development,institutional quality and maximizing-growth trade-off in government finance

This paper studies monetary and fiscal policies in an endogenous growth model with transaction costs. We show that the relation between long-run economic growth and both monetary and fiscal policies is subject to threshold effects, a result that gives account of a number of recent empirical findings. Furthermore, the model shows that, to finance public expenditures, growth-maximizing governments must choose relatively high seigniorage (respectively income taxation), if “institutional quality” and “financial development” indicators are low (respectively high). Thus, our model may explain why some governments resort to seigniorage and inflationary finance, and others rather resort to high tax rates, as a result of growth-maximizing strategies in different structural environments (notably concerning institutional and financial development contexts). In addition, the model allows examining how the optimal mix of government finance changes in response to different public debt contexts. A short empirical section confirms our theoretical results.     

Aid and public sector fiscal behaviour in failing states

This paper looks at interactions between foreign aid and the public sector in developing countries, especially those considered to be fragile or failing states. A model is proposed which employs actual budgetary appropriations and revenue estimates (rather than estimated target variables) and allows for asymmetric preferences. Variants of the model are estimated using time-series data for Papua New Guinea (PNG). PNG is classified as a fragile state by the international community owing to perceived policy and institutional inadequacies. Results obtained suggest that foreign aid increases consumption and investment expenditures and decreases tax revenues and the level of borrowing.     

Adverse selection in credit markets and regressive profit taxation

In many countries, taxes on businesses are less progressive than labor income taxes. This paper provides a justification for this pattern based on adverse selection that entrepreneurs face in credit markets. Individuals choose between becoming entrepreneurs or workers and differ in their skill in both of these occupations. I find that endogenous cross-subsidization in the credit market equilibrium results in excessive (insufficient) entry of low-skilled (high-skilled) agents into entrepreneurship. This gives rise to a corrective role for differential taxation of entrepreneurial profits and labor income. In particular, a profit tax that is regressive relative to taxes on labor income restores the efficient occupational choice.     

Evaluating Projects in a Dynamic Economy: Some New Envelope Results

Abstract. This paper deals with the modern theory of social cost–benefit analysis in a dynamic economy. The theory emphasizes the role of a comprehensive, forward-looking, dynamic welfare index within the period of the project rather than that of a project's long-term consequences. However, what constitutes such a welfare index remains controversial in the recent literature. In this paper, we attempt to shed light on the issue by deriving three equivalent cost–benefit rules for evaluating a small project. In particular, we show that the direct change in a net national product (NNP) qualifies as a convenient welfare index without involving any other induced side effects. The project evaluation criterion thus becomes the present discounted value of the direct changes in NNP over the project period. We also illustrate the application of this theory in a few stylized examples.     

Investment responses to Japanese tax reforms: A cross-industry comparison

This paper examines the investment responses to past Japanese tax reforms for individual industries. To identify the tax effect, this paper estimates investment functions by using a covariate of the change in tax-adjusted q caused by tax reform. This method alleviates the measurement error problem and enables the derivation of estimates indicating the valid adjustment cost of investment. Moreover, the findings suggest that firms’ investment responded significantly to tax reforms in the 1980s in general. Also, investments of only a few industries responded to those in the late 1990s, implying that the manner of investment response slightly differs among industries.     

下一代电子商务网络基础IPV6协议分析与研究

下一代电子商务的网络核心协议就是IPv6,在IPV4地址大量匮乏的情况下,而企业尤其是电子商务企业、电信运营商、终端用户对IP地址大量需求的情况下,IPv4过渡到IPv6势在必行。本文分析了IPv6协议,并给出企业客户部署IPv6的配置方案,并对技术发展趋势作一个展望。     

纳米二氧化钛光催化降解罗丹明6G的应用研究

采用醇盐水解法制备纳米二氧化钛,最佳制备条件为醇：酯：蒸馏水=1：1：10（体积比）;搅拌时间1h;煅烧温度为500℃;煅烧时间为2h。制得的纳米TiO2为单一晶型即锐钛矿型,平均粒径为17．32nm,比表面积为73．683m^2／g。光催化降解罗丹明6G的最佳操作条件是：TiO2用量0．5g;0．594％的H2O2溶液5mL;1．05％的FeCl3溶液1．5mL;反应时间为30min。脱色率达到98．51％。由于H2O2和FeCl3的协同作用,缩短了反应时间,提高了光催化效率。     

Social class, family background, and intergenerational mobility

This research examines the various approaches taken by economists and sociologists for analyzing intergenerational mobility. Social mobility models based on social classes arising from an occupational classification scheme are analysed. A test for the statistical validity of classification schemes is proposed and tested using Danish sample survey data that was first collected in 1976 and augmented in 2000. This is referred to as a homogeneity test and is a likelihood ratio test of a set of linear restrictions which define social classes. For Denmark it is shown that this test fails for an Erikson-Goldthorpe classification system, raising doubts about the statistical validity of occupational classification systems in general. We also estimate regression models of occupational earnings, household earnings, and educational attainment using family background variables as covariates controlling for unobservables, measurement error, and simultaneous equation bias. In these models homogeneity tests are also rejected. We conclude from these results that the individual's family background has a small but significant impact on lifetime chances which is not captured by the Erikson-Goldthorpe classification scheme.