Many housing and welfare researchers in the last few decades have dealt with the so-called trade-off debate concerning the trade-off between welfare and home ownership. Countries with a high home ownership rate have lower welfare arrangements. The debate is about the causality of this statistical relationship; is welfare low because the home ownership rate is high or is it the other way around....

This paper develops and tests procedures for identifying lead analysts based on the timeliness of analyst forecast revisions, the trading levels associated with these revisions, and forecast accuracy. Our framework provides an objective assessment of analyst quality that differs from the standard approach that uses survey evidence to rate analysts. Using a sample of equity analysts, we find tha...

Introduction 1 I. The Importance of Internal and External Shocks 4 A. External Shocks: Uncertain Terms of Trade 4 B. External Shocks: Uncertain Access to and Cost of Foreign Capital 5 C. Internal Shocks: Uncertain Agricultural Output and Domestic Policy Shocks 10 D. Life is Uncertain! So What? 11 II. The Impact of Uncertainty on Production Commodity Trade 11 III. Trade in Goods and Risk-Free Bo...

Equity issues have led many economists to re-consider their preference for conducting efficiency analyses with aggregated estimates of the benefits and costs of changes in environmental resource allocations. For instance, there is evidence that health risks due to hazardous wastes disproportionately affects the poor and non-white. Policies that lead to these disproportionate effects are not nec...

The Pareto efficiency criterion is often in conflict with the equity criteria as no-envy or as egalitarian-equivalence: An allocation x that is Pareto superior to another allocation y can be inferior to y in consideration of equity. This paper formalizes two different principles of social choice under possible conflict of efficiency and equity. The efficiency-first principle requires that we sh...

Policy decisions about public health services differ from those for personal health services. Both require trade-offs between such policy goals as liberty, security, efficiency, and equity. In public health, however, decisions about who will approve, pay for, and deliver services are often accompanied by decisions on when and how to compel individual behaviour. Policy becomes complex because di...

Introduction On March 1, 2006, the Government of Ontario enacted the Local Health System Integration Act, which created 14 Local Health Integration Networks (LHINs) (2005, 2006). These organizations are charged with strategic purchasing; they will not directly provide services. Each LHIN is responsible for planning, integrating and funding healthcare services in its region. About two thirds of ...

Sustainable development requires that the goals of economic development, environmental protection and social justice are considered collectively when formulating development strategies. In the context of planning sustainable transport systems, trade-offs between the economy and the environment, and between the economy and social justice have received considerable attention. In contrast, much le...