In a discounted one-sector convex model of optimal economic growth where utility may depend on both consumption and capital stock, I derive necessary and sufficient conditions for sustained growth (unbounded expansion of capital and consumption). Conditions for bounded growth and extinction are also outlined. Optimal paths may be non-monotone. Sustained growth may occur even though the asymptot...

A body of accumulating evidence appears to support the finding that collectivist economic concerns and assessments of government economic performance directly influence voting behavior independent of other predispositions and cleavages. This seems reasonable and is well documented across both cultures and time periods. What remains more inconclusive is how to explain fluctuations in the elector...

We examined the impact of specific emotions on the endowment effect, the tendency for selling prices to exceed buying or ‘‘choice’’ prices for the same object. As predicted by appraisal-tendency theory, disgust induced by a prior, irrelevant situation carried over to normatively unrelated economic decisions, reducing selling and choice prices and eliminating the endowment effect. Sadness also c...

How does the opportunity to use tax havens influence economic activity in nearby non-haven countries? Analysis of affiliate-level data indicates that American multinational firms use tax haven affiliates to reallocate taxable income away from hightax jurisdictions and to defer home country taxes on foreign income. Ownership of tax haven affiliates is associated with reduced tax payments by near...

Political pronouncements and policy statements include much conjecture concerning the health and behavioral effects of economic decline. We both summarize empirical research concerned with those effects and suggest questions for future research priorities. We separate the studies into groups defined by questions asked, mechanisms invoked, and outcomes studied. We conclude that although much res...

This study examines the prospective economic effects of a reduction below the current baseline in defense outlays of $100 billion per year over 10 years. Several recent studies have attempted to estimate the supposedly adverse economic and employment effects of reductions in government spending generally, and defense outlays in particular. Such studies have tended to exaggerate the harmful effe...

Over the past two decades, the deregulation of surface transport at both national and international levels has gathered momentum, particularly within the United States and European Union. The structural and performance changes associated with transport deregulation generated substantial redistribution of wealth among carriers, labor, shippers,-and final customers and dramatically altered the co...

We consider a model in which Cournot-Nash oligopolistic service providers are able to trade radio spectrum licences, subject to interference constraints. The terms of trade are endogenised through Nash bargaining. When the providers are in the same (geographical) market, the incentive to trade is due to cost differences; when they are in separate markets, differential demand conditions can also...

Introduction There has been growing use of multiple pay incentives in British firms and workplaces over recent years. Nearly forty per cent of British workplaces used two or more incentive arrangements by the mid-2000s compared with just over twenty per cent two decades earlier (Pendleton et al 2009: 279). Most instances of multiple incentives combine individual with collective incentives. Rece...

This paper discusses how the effects of taxes on economic behavior are important for revenue estimation, for calculating efficiency effects, and for understanding short-term macroeconomoic consequences. The primary focus is on taxes on labor income but some attention is given to taxes on income from saving. Specific calculations illustrate the importance of behavioral responses for accurate cal...