nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2011‒04‒02
four papers chosen by
Karl Petrick
University of the West Indies

  1. Inequality, Human Capital Formation and the Process of Development By Oded Galor
  2. Coordinating Regional and Multilateral Financial Institutions By C. Randall Henning
  3. Ecosystem Services: Quantification, Policy Applications, and Current Federal Capabilities By Scarlett, Lynn; Boyd, James W.
  4. The Wealth Of Nature: Valuing Ecosystem Services By A. Myrick Freeman III

  1. By: Oded Galor
    Abstract: #
    Keywords: Education, Gender Gap, Human capital, Income distribution, Inequality, Devel- opment, Unified Growth Theory
    Date: 2011
  2. By: C. Randall Henning (Peterson Institute for International Economics)
    Abstract: Recent crises and the expansion of international financial arrangements have dramatically elevated the importance of cooperation between regional institutions and the International Monetary Fund (IMF). While the case for coordination between regional and multilateral institutions is generally accepted, however, the need to organize it on an ex ante is not fully appreciated. The relatively successful cooperation among the European Commission, European Central Bank, and IMF on the European debt crisis is not likely to be easily replicated in joint programs for countries in other regions, moreover, and the costs of coordination failure could be very large. Recent innovations at the IMF, on the other hand, present opportunities for cooperation with regional facilities. Henning reviews (1) the case for organizing cooperation on an ex ante basis, (2) the policy and institutional matters that should be coordinated, (3) how East Asian arrangements in particular and the IMF might cooperate, and (4) an Interinstitutional Agenda of general principles, modalities, and institutional recommendations. The G-20, member states, and institutions themselves should address this agenda proactively.
    Keywords: Financial crises, IMF, regional financial institutions, regional integration, Chiang Mai Initiative, European debt crisis, international cooperation
    JEL: F53 F33 F34 F30
    Date: 2011–03
  3. By: Scarlett, Lynn (Resources for the Future); Boyd, James W. (Resources for the Future)
    Abstract: The study describes existing federal policies that permit or promote ecosystem services analysis, management, investments, and markets. Our survey discusses: 1) current programs that stimulate or support the measurement of ecosystem services; 2) existing federal drivers of ecosystem services analysis; and 3) programs that stimulate investment in ecosystem services. Understanding existing capacity is important to federal and other leaders who see opportunities for environmental policy innovations—such as payments, markets, and management practices—based on ecological wealth and services.
    Keywords: ecosystem services, natural capital, ecosystem-based management
    Date: 2011–03–24
  4. By: A. Myrick Freeman III (William D. Shipman Professor of Economics Emeritus, Bowdoin College)
    Abstract: In May, 2009, the U. S. Environmental Protection Agency (EPA) released a report titled "Valuing the Protection of Ecological Systems and Services" (U.S. EPA, 2009). I was a member of the EPA Science Advisory Board's Committee on Valuing the Protection of Ecological Systems and Services (C-VPESS) that produced the Report. In this paper, I will try to clarify what we mean by the terms "ecosystem services," "value," and "the wealth of nature." I will also try to see what lessons can be drawn from the C-VPESS Report and the 5 years of Committee deliberations that lie behind it and what conclusions and implications this work has for EEPSEA researchers working in the field of the economics of natural resources.
    Keywords: ecosystem
    Date: 2010–07

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