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Working Paper
Efficiency and equity of a gasoline tax increase
Journal Article
The rise of ethanol in rural America
Working Paper
Putty-clay capital and energy
We evaluate the ability of models with putty-clay capital and stochastic energy prices to account for the dynamics of energy use and output. Economists have noted a close relationship between changes in the price of energy and changes in output. Moreover, they have documents that this relationship is asymmetric: energy price increases are associated with large output charges while energy prices decreases are associated with small output changes. Finally, following energy price changes, energy use adjusts slowly over time. Standard models with putty-putty capital fail to reproduce the features ...
Journal Article
Exploring alternative energy sources
Journal Article
Western resources: key to the nation's energy future
Conference Paper
Energy and environmental issues for the Midwest economy
Working Paper
Autocracy, democracy, bureaucracy, or monopoly: can you judge a government by its size?
We develop a simple theoretical framework to examine on an integrated basis how the form of government affects its power and size. The analytical framework abstracts from distortions that arise from the means ofgovernment finance and separates government power into two dimensions-pure coercive power and pure monopoly power. A government can exert its coercive power to shift the demand for its services outward and/or its monopoly power to restrict the output along a given demand curve to earn rents. Among the implications drawn from the analysis are that government officials have an incentive ...
Journal Article
BTUs in GDP