{"title":"Behavioural Economics and Terrorism: Law Enforcement and Patterns of Behaviour, by Peter J. Phillips and Gabriela Pohl (Routledge, 2021), vii + 217 pp.","authors":"Emily Corner","doi":"10.1111/1475-4932.12712","DOIUrl":"https://doi.org/10.1111/1475-4932.12712","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"98 323","pages":"410-411"},"PeriodicalIF":1.2,"publicationDate":"2022-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91555645","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"In Defense of Public Debt, by Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves and Kris James Mitchener (Oxford University Press, 2021), 320 pp.","authors":"Peter Skott","doi":"10.1111/1475-4932.12710","DOIUrl":"https://doi.org/10.1111/1475-4932.12710","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"98 323","pages":"418-421"},"PeriodicalIF":1.2,"publicationDate":"2022-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91555278","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Insurance Era: Risk, Governance, and the Privatisation of Security in Postwar America, by Caley Horan (Chicago University Press, 2021). 264 pp.","authors":"George R. Barker","doi":"10.1111/1475-4932.12715","DOIUrl":"https://doi.org/10.1111/1475-4932.12715","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"98 323","pages":"405-408"},"PeriodicalIF":1.2,"publicationDate":"2022-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90131354","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Insurance Era: Risk, Governance, and the Privatisation of Security in Postwar America, by CaleyHoran (Chicago University Press, 2021). 264 pp.","authors":"G. Barker","doi":"10.1111/1475-4932.12715","DOIUrl":"https://doi.org/10.1111/1475-4932.12715","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"21 1","pages":""},"PeriodicalIF":1.2,"publicationDate":"2022-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80682713","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Social Preferences: An Introduction to Behavioural Economics and Experimental Research, by Michalis Drouvelis (Agenda, 2021), pp. 205","authors":"Daniel John Zizzo","doi":"10.1111/1475-4932.12709","DOIUrl":"https://doi.org/10.1111/1475-4932.12709","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"98 323","pages":"421-422"},"PeriodicalIF":1.2,"publicationDate":"2022-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91882876","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Social Preferences: An Introduction to Behavioural Economics and Experimental Research, by MichalisDrouvelis (Agenda, 2021), pp. 205","authors":"D. J. Zizzo","doi":"10.1111/1475-4932.12709","DOIUrl":"https://doi.org/10.1111/1475-4932.12709","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"21 1","pages":""},"PeriodicalIF":1.2,"publicationDate":"2022-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83069209","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Accessing external finance for innovation is difficult. We study the effect of financial constraints on the probability of conducting process innovation, while also considering the role of past experience. We show a firm's optimal process innovation decision is a function of its previous decision and financial constraints, which naturally leads to a set of population moments for empirical testing with Australian microdata from 2006 to 2018. We find that if a firm did not conduct process innovation previously, financial constraints reduce its probability of process innovation by around 10 per cent. Whereas with previous process innovation, financial constraints reduce the probability by around 12 per cent.
{"title":"Do Financial Constraints Reduce Process Innovation? Evidence from Australian Firms*","authors":"Siddarth Roche, Sizhong Sun, Riccardo Welters","doi":"10.1111/1475-4932.12703","DOIUrl":"https://doi.org/10.1111/1475-4932.12703","url":null,"abstract":"<p>Accessing external finance for innovation is difficult. We study the effect of financial constraints on the probability of conducting process innovation, while also considering the role of past experience. We show a firm's optimal process innovation decision is a function of its previous decision and financial constraints, which naturally leads to a set of population moments for empirical testing with Australian microdata from 2006 to 2018. We find that if a firm did not conduct process innovation previously, financial constraints reduce its probability of process innovation by around 10 per cent. Whereas with previous process innovation, financial constraints reduce the probability by around 12 per cent.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"98 323","pages":"335-353"},"PeriodicalIF":1.2,"publicationDate":"2022-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12703","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"137658193","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Alcohol taxation is an important policy instrument for correcting for market failures associated with excessive alcohol consumption. This paper examines the beverage-specific negative externalities by providing empirical evidence linking ten alcoholic beverage types to drink-driving and hazardous, disturbing or abusive behaviours when intoxicated, using data from six waves of an Australian recreational drug survey. We find that regular-strength beer and pre-mixed spirits in a can rank the highest in their links to negative behaviours, followed by mid-strength beer, cask wine, and bottled spirits. Conversely, drinking low-strength beer or fortified wine reduces the probability of these risky and unlawful behaviours. Bottled wine is shown to be associated with an elevated chance of drink-driving but a reduced chance of other negative behaviours. In contrast to the existing volumetric tax rates for per litre of alcohol, of all harmful beverage types, cask wine appears to be significantly undertaxed relative to its external costs to society. We also note that regular- and mid-strength beer are comparable to pre-mixed drinks in terms of external costs, and yet there is a significant disparity across their tax rates.
{"title":"Equal Tax for Equal Alcohol? Beverage Types and Antisocial and Unlawful Behaviours*","authors":"Preety Srivastava, Ou Yang, Xueyan Zhao","doi":"10.1111/1475-4932.12704","DOIUrl":"https://doi.org/10.1111/1475-4932.12704","url":null,"abstract":"<p>Alcohol taxation is an important policy instrument for correcting for market failures associated with excessive alcohol consumption. This paper examines the beverage-specific negative externalities by providing empirical evidence linking ten alcoholic beverage types to drink-driving and hazardous, disturbing or abusive behaviours when intoxicated, using data from six waves of an Australian recreational drug survey. We find that regular-strength beer and pre-mixed spirits in a can rank the highest in their links to negative behaviours, followed by mid-strength beer, cask wine, and bottled spirits. Conversely, drinking low-strength beer or fortified wine reduces the probability of these risky and unlawful behaviours. Bottled wine is shown to be associated with an elevated chance of drink-driving but a reduced chance of other negative behaviours. In contrast to the existing volumetric tax rates for per litre of alcohol, of all harmful beverage types, cask wine appears to be significantly undertaxed relative to its external costs to society. We also note that regular- and mid-strength beer are comparable to pre-mixed drinks in terms of external costs, and yet there is a significant disparity across their tax rates.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"98 323","pages":"354-372"},"PeriodicalIF":1.2,"publicationDate":"2022-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12704","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"137632749","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study bonuses in a flat hierarchy and find effort optimality to be violated within a two worker-type model with noisy performance indicators. Dedicated workers extract informational rents from firms whilst slack worker effort is inefficiently low. Whilst increases in measurement noise reduce the supply-side effort effects of bonuses, they also induce demand-side responses from firms seeking to counteract falling worker exertion by increasing bonuses. Our model helps to explain empirical observations that bonuses are more prevalent and larger in jobs with noisy environments, such as within the financial sector.
{"title":"Luck in a Flat Hierarchy: Wages, Bonuses and Noise","authors":"John G. Sessions, John D. Skåtun","doi":"10.1111/1475-4932.12701","DOIUrl":"10.1111/1475-4932.12701","url":null,"abstract":"<p>We study bonuses in a flat hierarchy and find effort optimality to be violated within a two worker-type model with noisy performance indicators. Dedicated workers extract informational rents from firms whilst slack worker effort is inefficiently low. Whilst increases in measurement noise reduce the supply-side effort effects of bonuses, they also induce demand-side responses from firms seeking to counteract falling worker exertion by increasing bonuses. Our model helps to explain empirical observations that bonuses are more prevalent and larger in jobs with noisy environments, such as within the financial sector.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"98 323","pages":"373-391"},"PeriodicalIF":1.2,"publicationDate":"2022-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82548122","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This research examines how foreign ownership affects the choice of two environmental policies. We find that a monopoly with foreign ownership produces more (less) and abates less (more) under emission standards than under emission taxes. As foreign ownership increases, with a small foreign ownership level the government is more likely to adopt the emission tax; and with a large foreign ownership level, if the abatement efficiency is high, then the government is also more likely to adopt the emission tax. We also examine the duopoly case in which a domestic firm with foreign ownership competes with another pure domestic firm.
{"title":"The Impact of Foreign Ownership on the Choice between Emission Taxes and Emission Standards*","authors":"Jiunn-Rong Chiou, Hung-Yi Chen","doi":"10.1111/1475-4932.12702","DOIUrl":"10.1111/1475-4932.12702","url":null,"abstract":"<p>This research examines how foreign ownership affects the choice of two environmental policies. We find that a monopoly with foreign ownership produces more (less) and abates less (more) under emission standards than under emission taxes. As foreign ownership increases, with a small foreign ownership level the government is more likely to adopt the emission tax; and with a large foreign ownership level, if the abatement efficiency is high, then the government is also more likely to adopt the emission tax. We also examine the duopoly case in which a domestic firm with foreign ownership competes with another pure domestic firm.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"98 323","pages":"392-404"},"PeriodicalIF":1.2,"publicationDate":"2022-10-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91087647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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