Ecological and environmental issues have always been the focus of government work. The economic losses caused by air pollution, water pollution, noise pollution and solid waste pollution caused by ...land use development projects are estimated, and the total population economic losses are incorporated into project costing. Using the analytic hierarchy process, four benefit indicators and five cost indicators are selected for constructing a fuzzy comprehensive evaluation model to evaluate the cost-benefit of projects of different scales. The projects of different scales are ranked according to the level of comprehensive scores. The results show that large-scale projects are cost-effective and stable over the long term, and there are differences in the main sources of pollution-caused economic losses for projects of different scales. At last, reasonable policy suggestions are made to relevant planning and management personnel.
This article presents new data on distribution margins in eight OECD countries and uses an Applied General Equilibrium (AGE) framework to assess the welfare impacts of inefficient distribution. I ...estimate the extent to which regulations inflate margins. A comparison of margins across countries finds, in contrast to other studies, that Japan's margins are unusually high. The AGE simulations imply that inefficient distribution imposes substantial welfare costs, especially in Japan, with the costs rivaling those of trade barriers. The results also imply that distribution impediments can significantly reduce imports. Reprinted by permission of Wiley-Blackwell
MUSIC FOR NOTHING OR, I WANT MY MP3 Rodman, Gilbert B.; Vanderdonckt, Cheyanne
Cultural studies (London, England),
20/3/1/, Volume:
20, Issue:
2-3
Journal Article
Peer reviewed
With the public discourse around filesharing veering towards punitive extremes, our aim in this essay is to reframe the issue in two ways. First, we argue that the filesharing debates are 'too ...economic', insofar as they reduce a multi-faceted phenomenon to a single issue: financial loss resulting from the theft of intellectual property. Lost in such arguments is the fact that music routinely circulates through the culture in myriad ways that have little (if anything) to do with commerce and capitalism, and everything to do with affect and affiliation. Second, the filesharing debates are simultaneously 'not economic enough', insofar as they evade the financial complexities of the music business in favor of an overly simplistic equation: 'downloaded music' leads directly to 'lost sales revenues'. A more robust analysis of the music industry's standard economic practices, however, undercuts both its economic claims about the negative effects of filesharing on sales and its moral claims to be defending helpless musicians from downloading 'thieves'.
We show that the value maximizing hurdle rate for research and development (R&D) investments among private firms operating in a market setting is less than for conventional investments despite the ...fact that R&D has development risk. Because development risk arises only during R&D, entrepreneurs control this risk by deferring or pursuing R&D depending upon profitability. This risk management moderates downside loss and encourages upside gain which increases the value attraction of R&D and decreases the value maximizing hurdle rate below that of conventional investment.
How should banks account for loan losses Benston, George J.; Wall, Larry D.
Journal of accounting and public policy,
03/2005, Volume:
24, Issue:
2
Journal Article
Peer reviewed
Existing GAAP treatment of banks’ loan losses follows the treatment of other contingencies. Bank supervisors expect reserves to at least cover expected losses. The FASB’s goal is to move to fair ...value accounting. We find that the book value of loans before deducting the loss allowance generally understates their value, suggesting that the bank supervisors are excessively conservative. We further find that fair value is not verifiable for many loans because of adverse selection risk. We recommend that the allowance be limited to: (1) losses which could have been charged off but were not, and (2) large losses when the economic value is less than the book value of a loan portfolio.
There is analyzed dynamics of the basic indicators of on-the-job injuries - coefficients of frequency and heaviness of injuries, death rates and working time losses - on agricultural enterprises of ...Yaroslavl region for 2000-2012. The attempt of the forecast of these indicators for 2013-2016 by means of use of a technique of approximation of a trend of dynamic series is undertaken. Calculations are produced by a least-squares method with application of power function. The statistical data file for 13 years allowed to construct power regression models of dynamic series of the investigated indicators giving the prognosis of their values on the next 3 years with reliability of 80-90%. It is noticed that labour accidents cannot be completely excluded. However, experience and the statistical data across Yaroslavl region show the incessant modification of various indicators of on-the-job injuries both towards their increase and decrease that is reflected in predictions. So, input data of dynamics of factor of frequency of a traumatism represent a time series without seasonal and cyclical oscillations, its trend has descending character and its model is nonlinear (on estimated parameters) function only. Thus an average error amount of approximation of a trend (differences between calculated values of factor of frequency of a traumatism and actual values) makes 13,8% that allows to estimate quality of the received model as satisfactory. Look-ahead values of factor of heaviness of a traumatism have an increasing trend with an average error of approximation of model about 9,4%; the working hours loss factor shows a decreasing trend (with an average error of approximation of 11,3%); level of expenses on a labour safety has a raising trend (but with high enough average error of approximation of 24,7%). The predictions given allow defining the most effective directions of efforts on the further lowering of on-the-job injuries.
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The model in this paper provides a complementary explanation to the well-known IPO pricing puzzle. The model allows the investor to make a decision on whether and when information should be gathered, ...and allows a purchase decision based on the information. With this investor’s decision-making process in mind, firms price their IPOs to maximize their payoffs by trying to avoid an IPO failure and by assessing the investor’s possible post-search outcomes. While the model provides implications to the general IPO puzzle, the results seem particularly relevant for explaining the pricing of REIT IPOs, MLP IPOs, and mutual fund IPOs. The model may also help explain why IPO underpricing levels change over time and suggests that underpricing levels might vary across industries.
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