scholarly journals DEALING WITH UNDOCUMENTED IMMIGRANTS: THE WELFARE EFFECTS OF AMNESTIES AND DEPORTATIONS

2017 ◽  
Vol 83 (4) ◽  
pp. 445-492 ◽  
Author(s):  
Joël Machado
Keyword(s):  
Undocumented Immigrants ◽  
Overlapping Generations ◽  
Migration Policy ◽  
The United States ◽  
Welfare Effects ◽  
Government Budget ◽  
Overlapping Generations Model ◽  
Wage Effects ◽  
The Government ◽  
The Impact

Abstract:The effects on agents’ welfare of two different policies dealing with undocumented immigrants, amnesties and deportations, are assessed. I develop a two-period overlapping generations model which accounts for the ex-ante production by undocumented workers and their impact on the government budget. Additional channels, such as the discrimination on the labor market and a different productivity of regularized workers are discussed. The impact of a migration policy depends on the wage effects of the legalized/deported workers and their net fiscal contribution. The calibration of the model for the United States in 2014 allows to disentangle the channels at work. Overall, the impact of the two policies on natives’ welfare is limited (between −0.1% and +0.15%). Retired agents benefit from an amnesty and are harmed by a deportation. The effect on workers is ambiguous and depends on the wage and fiscal effects in addition to the change in the returns on savings.

The Impact of the Nicaragua Case on Matters of Evidence and Fact-Finding

2012 ◽  
Vol 25 (1) ◽  
pp. 149-156
Author(s):  
PAUL S. REICHLER
Keyword(s):  
United States ◽  
Armed Conflict ◽  
The United States ◽  
Pulp Mills ◽  
Government Officials ◽  
The Government ◽  
Fact Finding ◽  
Day To Day Operations ◽  
High Level ◽  
The Impact

AbstractThe Nicaragua case demonstrates the Court's competence in receiving and interpreting evidence, and in making reasoned findings of fact, even in the most complicated evidentiary context, as is often presented in cases involving use of force and armed conflict. The Court applied well-established standards for evaluating the conflicting evidence presented to it. In particular, the Court determined that greater weight should be given to statements against interest made by high-level government officials than to a state's self-serving declarations. The Court also determined that statements by disinterested witnesses with first-hand knowledge should receive greater weight than mere statements of opinion or press reports. In applying these guidelines, the Court found, correctly, that (i) the United States had used military and paramilitary force against Nicaragua both directly and indirectly, by organizing, financing, arming, and training the Contra guerrillas to attack Nicaragua; (ii) the evidence did not support a finding that the United States exercised direct control over the Contras’ day-to-day operations; and (iii) there was no evidence that Nicaragua supplied arms to guerrillas fighting against the government of El Salvador during the relevant period, or carried out an armed attack against that state. While Judge Schwebel's dissent criticized the last of these findings, in fact, the evidence fully supported the Court's conclusion. In subsequent decisions during the past 25 years, the Court has continued to rely on the approach to evidence first elaborated in the Nicaragua case and has continued to demonstrate its competence as a finder of fact, including in cases involving armed conflict (Bosnia Genocide) and complex scientific and technical issues (Pulp Mills).

Fiscal Deficit and Economic Growth in Bangladesh

2016 ◽  
Vol 62 (1) ◽  
pp. 31-42 ◽  
Author(s):  
Ebney Ayaj Rana ◽  
Abu N. M. Wahid
Keyword(s):  
Economic Growth ◽  
Budget Deficit ◽  
Negative Impact ◽  
Political Stability ◽  
Ordinary Least Squares ◽  
Policy Implications ◽  
Government Budget ◽  
The Government ◽  
The Impact ◽  
Government Budget Deficit

The economy of Bangladesh is currently going through a period of continuous budget deficit. The present data suggest that the government budget deficit, on average, is nearly 5% of the country’s GDP. This has been true since the early 2000s. To finance this deficit, governments have been borrowing largely from domestic and foreign sources resulting in inflationary pressure on one hand, and crowding out of private investments on the other. During the same period, although the economy has grown steadily at a rate of more than 6%, this growth is less than the potential. This article presents an econometric study of the impact of government budget deficits on the economic growth of Bangladesh. We conduct a time-series analysis using ordinary least squares estimation, vector error correction model, and granger causality test. The findings suggest that the government budget deficit has statistically significant negative impact on economic growth in Bangladesh. Policy implications of our findings include reestablishing the rule of law, political stability in the country, restructuring tax structure, closing tax loopholes, and harmonizing fiscal policy with monetary policy to attract additional domestic and foreign investment.

scholarly journals SUBPRIME MORTGAGE CRISIS IN THE UNITED STATES IN 2007–2008: CAUSES AND CONSEQUENCES (PART I)

Ekonomika ◽  
2015 ◽  
Vol 93 (4) ◽  
pp. 85-118 ◽  
Author(s):  
Vaidotas Pajarskas ◽  
Aldona Jočienė
Keyword(s):  
United States ◽  
Federal Reserve ◽  
The United States ◽  
Mortgage Market ◽  
Subprime Mortgage ◽  
Market Expansion ◽  
Mortgage Crisis ◽  
Subprime Mortgage Crisis ◽  
The Government ◽  
The Impact

The main purpose of this article is to determine which factors and how contributed to the subprime mortgage crisis in the United States in 2007–2008, what their causal links and effects on the markets and the whole economy were, and to assess what actions could have been taken by the Federal Reserve and the Government in order to mitigate or prevent the consequences of subprime mortgage crisis and housing bubble. In order to obtain the research results, the authors performed a qualitative analysis of the scientific literature on the course of events and their development that led to the subprime mortgage crisis, and focused on the insufficiently regulated home mortgage market expansion, the impact on the subprime mortgage crisis of financial innovations and financial engineering, poorly evaluated systemic risks and policy undertaken by both the U.S. Government and the Federal Reserve before and after the crisis. The quantitative research focused on two main parts: firstly, analysis of the dependence between the causes of subprime mortgage crisis and the consequences, using a statistical and regression analysis, and secondly, an alternative path the Government and the Federal Reserve could have taken in their policy actions and the results they could have produced. The authors believe that the results of the research could give useful guidelines to the central bankers and government officials on how to make long-term decisions that can help in preparing for the financial distress, mitigating the consequences when the crisis strikes, accelerating the recovery and even preventing the crisis it in the future. The second part of the qualitative research will appear in the next issue of the journal.

scholarly journals Warlords, the United States, and the state of anarchy in Afghanistan

2021 ◽  
Vol 6 (2) ◽  
Author(s):  
Ahmad Shah Azami
Keyword(s):  
United States ◽  
The United States ◽  
State Building ◽  
The State ◽  
Negative Consequences ◽  
Human Rights Abuses ◽  
Illegal Mining ◽  
The Us ◽  
The Government ◽  
The Impact

As part of its “War on Terror”, the United States (US) provided immense sums of money and advanced equipment to Afghan warlords in order to defeat and dismantle the Taliban and al-Qaeda in Afghanistan. Nearly two decades after the 2001 US-led intervention in Afghanistan that toppled the Taliban regime, the US continues supporting the warlords in various ways. As the intervention was also aimed at establishing a functioning state and reconstruction of the war-torn country, the US needed the support of local warlords to achieve its goals. However, over time, warlords and warlordism became a major challenge to the postTaliban state-building project and in many ways undermined the overall security and the state monopoly on violence. These warlords, who had been mostly expelled and defeated by the Taliban regime, returned under the aegis of the B52 bombers, recaptured parts of the country and reestablished their fiefdoms with US support and resources. They not only resist giving up the power and prestige they have accumulated over the past few years, but also hamper the effort to improve governance and enact necessary reforms in the country. In addition, many of them run their private militias and have been accused of serious human rights abuses as well as drug trafficking, arms smuggling, illegal mining and extortion in the areas under their control or influence. In many ways, they challenge the government authority and have become a major hurdle to the country’s emerging from lawlessness and anarchy. This paper explores the emergence and reemergence of warlords in Afghanistan as well as the evolution of chaos and anarchy in the country, especially after the US-led intervention of late 2001. It also analyzes the impact of the post-9/11 US support to Afghan warlords and its negative consequences for the overall stability and the US-led state-building process in Afghanistan.

scholarly journals GROWTH AND WELFARE EFFECTS OF MACROPRUDENTIAL REGULATION

2018 ◽  
Vol 23 (8) ◽  
pp. 3140-3162 ◽  
Author(s):  
Pierre-Richard Agénor
Keyword(s):  
Systemic Risk ◽  
Overlapping Generations ◽  
Welfare Effects ◽  
Financial Supervision ◽  
Overlapping Generations Model ◽  
Macroprudential Regulation ◽  
Bank Monitoring ◽  
Investment Projects ◽  
Optimal Monitoring ◽  
Reserve Ratio

This paper studies the growth and welfare effects of macroprudential regulation in an overlapping generations model of endogenous growth with banking and agency costs. Indivisible investment projects combine with informational imperfections to create a double moral hazard problem à la Holmström–Tirole and a role for bank monitoring. When the optimal monitoring intensity is endogenously determined, an increase in the required reserve ratio (motivated by systemic risk considerations) has conflicting effects on investment and growth. On one hand, requiring banks to put away a fraction of the deposits that they receive reduces the supply of loanable funds. On the other, a higher required ratio raises incentives to save and mitigates banks' incentives to monitor, thereby lowering monitoring costs and freeing up resources to increase lending. In addition, it may mitigate the systemic risk externality associated with excessive leverage. This trade-off can be internalized by choosing the required reserve ratio that maximizes growth and welfare. However, the risk of disintermediation means that in practice financial supervision may also need to be strengthened, and the perimeter of regulation broadened, if the optimal ratio is relatively high.

Analysis and Development of Performance-Based Requirements for Railroad Tank Cars

2014 ◽  
Author(s):  
Steven W. Kirkpatrick ◽  
Robert A. MacNeill ◽  
Francisco Gonzalez
Keyword(s):  
Structural Integrity ◽  
The United States ◽  
Impact Testing ◽  
Impact Behavior ◽  
Safety Regulations ◽  
Significant Research ◽  
The Government ◽  
Current Impact ◽  
Test Requirements ◽  
The Impact

There has been significant research in recent years to analyze and improve the impact behavior and puncture resistance of railroad tank cars. Ultimately, the results of this work will be used by the Government regulatory agencies in the United States and Canada to establish performance-based testing requirements and to develop methods to evaluate the crashworthiness and structural integrity of different tank car designs. This paper describes analyses of current impact testing requirements and impact test methodologies using detailed finite element analyses (FEA). The results of these analyses are used to identify characteristics of the test methodologies that are desirable or undesirable for the test requirements in future tank car safety regulations.

scholarly journals The impact of green preferences on the relevance of history versus expectations

2019 ◽  
Vol 24 (6) ◽  
pp. 583-607
Author(s):  
Andreas Schaefer ◽  
Anna Stünzi
Keyword(s):  
Steady State ◽  
Overlapping Generations ◽  
Clean Energy ◽  
Environmental Policies ◽  
Stable Steady State ◽  
Overlapping Generations Model ◽  
Environmental Preferences ◽  
Energy Taxes ◽  
Energy Tax ◽  
The Impact

AbstractIn an overlapping generations model with multiple steady states, we analyse the impact of endogenous environmental policies on the relevance of history and expectations for the equilibrium selection. In a polluting regime, environmental preferences cause an increasing energy tax which raises the risk that the economy transitions to the inferior equilibrium under pessimistic expectations. However, higher environmental preferences imply an earlier switch to the clean energy regime. Then, the conflict between production and environmental preferences is resolved and the prospects of selecting the superior equilibrium improve, since positive expectations become more relevant. In an empirical analysis we find that people with environmental preferences tend to have more optimistic expectations about economic development. Using these findings to analyse the steady-state dynamics implies that agents with environmental preferences support higher energy taxes and switch to clean production more quickly. Due to their optimism, the likelihood of reaching the superior stable steady state increases.

scholarly journals The Development and Historic Use of Habitat Structures in Channel Restoration in the United States: The Grand Experiment in Fisheries Management

2004 ◽  
Vol 56 (1) ◽  
pp. 45-60 ◽  
Author(s):  
Douglas M. Thompson ◽  
Gregory N. Stull
Keyword(s):  
United States ◽  
New York ◽  
World War Ii ◽  
The United States ◽  
Fish Populations ◽  
The Great Depression ◽  
The Government ◽  
Conservation Projects ◽  
Long Term Impact ◽  
The Impact

Abstract The use of instream structures to modify aquatic habitat has a long history in the United States. Pioneering work by wealthy landowners in the Catskills region of New York produced a range of designs in the decades preceding the Great Depression in an effort to replenish fish populations depleted from overfishing. The scientific evaluation of structures began in 1930. Within two years, a Michigan research team claimed improved fish populations. Cheap labor and government-sponsored conservation projects spearheaded by the Civilian Conservation Corps allowed the widespread adoption of the techniques in the 1930s, before adequate testing of the long-term impact of the devices. The start of World War II temporarily ended the government conservation efforts and prevented the continued evaluation of structures. During the 1940s, 1950s and 1960s, designs of instream structures remained essentially unchanged. Meanwhile, the small number of evaluations of the impact of the structures often were flawed. The continued use of early designs of instream structures helped instill a false belief that instream structures were proven to be a benefit to fish. Even modern use of instream structures continues to rely on the basic blueprints developed in the Catskills, despite documented problems with the use of these designs.

The Effects of an overvalued Exchange Rate on The Iranian Economy,1979–1984

1986 ◽  
Vol 18 (1) ◽  
pp. 31-52 ◽  
Author(s):  
Wolfgang Lautenschlager
Keyword(s):  
Exchange Rate ◽  
Allocation Of Resources ◽  
Government Budget ◽  
Islamic Republic ◽  
Oil Exports ◽  
The World ◽  
The Rich ◽  
The Government ◽  
Development Spending ◽  
The Impact

The Iranian economy under the Islamic Republic has been strongly influenced by factors which lie for the most part outside the Iranian government's control, in particular lower oil sales due to the Iraqi attack and to the world-wide oil glut. One should not underestimate, however, the impact of the policies which have traditionally most concerned economists, namely, the government budget and monetary matters. The major thesis of this article is that the Islamic Republic's economy has been heavily influenced by an overvalued exchange rate which has: (a) forced reductions in government development spending; (b) fueled inflation as the government printed money to finance its deficit; (c) worsened the imbalance in foreign trade by encouraging imports and discouraging non-oil exports; (d) subsidized the consumption of imported goods, primarily benefiting the urban population, especially the rich; (e) distorted the allocation of resources in favor of commerce at the expense of production; and (f) benefited well-to-do merchants at the expense of poorer farmers and artisans.

scholarly journals External Habits Formation and the Environment

2021 ◽  
Vol 67 (1) ◽  
pp. 1-12
Author(s):  
Fatma Safi
Keyword(s):  
Utility Function ◽  
Environmental Quality ◽  
Capital Accumulation ◽  
Overlapping Generations ◽  
Competitive Equilibrium ◽  
Cohort Size ◽  
Overlapping Generations Model ◽  
The Impact

Abstract The present paper presents a standard overlapping generations model with external habits formation and environmental quality in the utility function. Our main objective is to study the impact of external habits on capital accumulation and environmental quality on the intertemporal competitive equilibrium. We notice that striving for status leads to environment worsening and capital increasing when the cohort size is large.

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