Firm behaviour under pollution ratio standards with non-compliance

This paper compares a firm’s short run optimal production and abatement rules under emission level standards and standards expressed in terms of emissions per unit of output (ratio standards). The models allow for non-compliance with standards, with expected penalties dependant on either level or relative violations of the standard in question. It is shown that ratio arguments make a difference to the optimal decision rules derived for a profit-maximising firm. For example, for a given level of emissions the firm both produces more, and abates more, under a ratio standard, so that ratio and level standards cannot be used interchangeably to achieve the same combination of emissions and output. The implications for the efficiency of pollution control are briefly discussed.

Value priorities of HRD scholars and practitioners

This study represents an initial effort to identify and measure a set of values that reflect the goals that human resource development (HRD) scholars and practitioners believe HRD should strive to achieve. Six values reflecting two value facets (locus of HRD influence and HRD outcomes) and a seventh value that relates to a perceived normative component inherent of HRD activity were identified and measured. Results indicated the value scales measured individual value priorities of HRD scholars and practitioners, and that the structure of these value priorities varied as a function of individual differences. Suggestions for future research are offered.     

STABILISATION POLICY,RATIONAL EXPECTATIONS AND PRICE‐LEVEL VERSUS INFLATION TARGETING: A SURVEY

We survey literature comparing inflation targeting (IT) and price‐level targeting (PT) as macroeconomic stabilisation policies. Our focus is on New Keynesian models and areas that have seen significant developments since Ambler's (2009, Price‐level targeting and stabilisation policy: a survey. Journal of Economic Surveys 23(5): 974–997) survey: optimal monetary policy; the zero lower bound; financial frictions and transition costs of adopting a PT regime. Ambler's conclusion that PT improves social welfare in New Keynesian models is fairly robust, but we note an interesting split in the literature: PT consistently outperforms IT in models where policymakers commit to simple Taylor‐type rules, but results in favour of PT when policymakers minimise loss functions are overturned with small deviations from the baseline model. Since the beneficial effects of PT appear to hang on the joint assumption that agents are rational and the economy New Keynesian, we discuss survey and experimental evidence on rational expectations and the applied macro literature on the empirical performance of New Keynesian models. Overall, the evidence is not clear‐cut, but we note that New Keynesian models can pass formal statistical tests against macro data and that models with rational expectations outperform those with behavioural expectations (i.e. heuristics) in direct statistical tests. We therefore argue that policymakers should continue to pay attention to PT.     

Effects of governmental health policies in determining the size of a hospital at Chinle in the Navajo Indian Reservation.

This paper discusses the effect of government health policies on determining the size of a hospital at Chinle on the Navajo Reservation. The local residents and professional involvement and how they responded to these policies is discussed throughout the paper.Indian Health Service (IHS) provides health care to 720,000 Native American and Alaskan Native people. With the passage of Public Law 94–437, the Indian Health Care Improvement Act, IHS was given a clearer legal mechanism for providing funds for services and facility construction. The Chinle Service Unit, on the Navajo Reservation, did not have a hospital and could be provided one under Public Law 94–437. The question is should they build a hospital at all and how large a hospital is needed?     

Implications of a Discard Ban in Multispecies Quota Fisheries

We present an analysis of quota regulation and discarding in multispecies fisheries, explicitly taking into account the costs of non-compliance with quotas and a possible discard ban, as well as the costs of selective fishing (avoidance effort). We examine the impact of a discard ban on vessels’ profit maximising behaviour, in particular where species quotas are not set in proportion to their availability on the fishing grounds, considering both non-tradeable quotas and ITQs. We show the interdependence between penalty rates for both discards and over-quota landings in determining quota market outcomes. We find that quota prices are sensitive to penalty rates and to the presence of restrictive quotas for “choke” species.     

Democratizing the workplace through professionalization of human resource development*

This article critically examines democratizing the workplace through the professionalization of HRD. The primary question the article seeks to explore is to what extent can a democratic profession potentially minimize undemocratic workplaces. Drawing from several conceptual and research bodies of literature, including democracy and democratic workplaces, globalization and sociology of professions, this article describes democracy and how professions can enhance its growth.