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on Regulation |
| By: | Olivia Hague |
| Abstract: | Callum McCarthy joined the FSA in September 2003 from the Office of Gas and Electricity Markets where he was Chairman and Chief Executive. He had previously held senior positions in Barclays Bank, BZW and Kleinwort Benson, as well Department for Trade and Industry. He is an economist and graduate of the School of Business at Stanford University, where he was a Sloan Fellow. The lecture was given as part of a full-day conference hosted by the Financial Markets Group, LSE and held in honour of Tommaso Padoa-Schioppa on 8th December 2004. |
| Date: | 2005–02 |
| URL: | http://d.repec.org/n?u=RePEc:fmg:fmgsps:sp159&r=reg |
| By: | Pierre Regibeau; Katharine Rockett |
| Abstract: | We present survey results regarding a series of hypotheses on industry structure, regulation and patent policy towards GM food crops, focussing on the stages of the industry that generate innovations and approved products for sale to the farming sector. Licensing as a means of delegating litigation and regulatory costs comes out as one of the most consistent themes in our responses. We link this practice to a two-tiered industry structure, a weak relation between litigation threat and research trajectory, and a perception by our respondents that patents - as well as patent design - are "one step removed" from their research decisions. |
| Date: | 2005–01–13 |
| URL: | http://d.repec.org/n?u=RePEc:esx:essedp:591&r=reg |
| By: | Richard M. Bird; Francois Vaillancourt (Rotman School of Management, University of Toronto) |
| Abstract: | In this paper, following an introductory section setting out some salient characteristics of the country and its key institutions, we examine three aspects of Canada?s federal arrangements over the last half century. We have chosen these three examples to illustrate, first, an instance in which successful changes were gradually made over time to accommodate changing economic and political circumstances, second, an instance in which the outcome of even greater efforts at changing institutions in the face of political demands was a resounding failure, and, finally, an instance in which, despite the apparent economic desirability of a change, none has even been attempted. The success story is the marked change that has taken place in the sharing of the personal income tax between the federal and the provincial governments. The failure is the unsuccessful attempt to amend the Constitution Act of 1982 to satisfy the demands of Qu?bec, the majority francophone province in Canada. Finally, the story that has not happened is the creation of a national securities commission to replace the existing provincial commissions. |
| Keywords: | Canada, fiscal federalism, constitutional reform, securities regulation |
| JEL: | H11 H77 G28 N42 |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:ttp:itpwps:0504&r=reg |
| By: | Lynn A. Karoly (RAND); Paul S. Davies (Social Security Administration) |
| Abstract: | The Personal Responsibility and Work Opportunity Reconciliation Act of 1996 changed the definition of disability used to determine eligibility for disabled children under the Supplemental Security Income (SSI) program and made other changes in the program. The law required the redetermination of eligibility status for children potentially affected by the new definition of disability. As a result, an estimated 100,000 children were expected to lose SSI benefits. The goal of this paper is to understand the impact of benefit loss on affected children and their families. The analysis draws on data from the 1992, 1993 and 1996 panels of the Survey of Income and Program Participation matched with Social Security Administration records on SSI program participation. The data are used to analyze the impact of the loss of SSI income as a result of the 1996 legislation on family labor supply, welfare program participation, and income and poverty. Compared with families that lost SSI benefits due to normal attrition from the program, the excess benefit loss due to the 1996 childhood disability reforms is associated with lower levels of family labor supply, higher levels of participation in AFDC/TANF and food stamps, and lower levels of family income relative to poverty. For some outcomes, these effects—measured one month after benefit loss—persist for up to 12 months. |
| Date: | 2004–06 |
| URL: | http://d.repec.org/n?u=RePEc:mrr:papers:wp079&r=reg |
| By: | Ours,Jan C. van (Tilburg University, Center for Economic Research) |
| Abstract: | This paper uses information about prime age individuals living in Amsterdam, to study whether the use of alcohol, or tobacco stimulates the use cannabis, i.e. whether alcohol or cannabis are stepping stones for cannabis. The special element of the study is that it concerns the use in an environment where not only alcohol and tobacco but also cannabis is a legal drug. It turns out that alcohol and cannabis are intertemporal substitutes while tobacco and cannabis are intertemporal complements. Only tobacco is a stepping stone for cannabis use. |
| JEL: | C41 D12 I19 |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:kubcen:200512&r=reg |
| By: | Clark, Andrew (PSE and IZA Bonn); Postel-Vinay, Fabien (PSE, CREST-INSEE, CEPR and IZA Bonn) |
| Abstract: | We construct indicators of the perception of job security for various types of jobs in 12 European countries using individual data from the European Community Household Panel (ECHP). We then consider the relation between reported job security and OECD summary measures of Employment Protection Legislation (EPL) strictness on one hand, and Unemployment Insurance Benefit (UIB) generosity on the other. We find that, after controlling for selection into job types, workers feel most secure in permanent public sector jobs, least secure in temporary jobs, with permanent private sector jobs occupying an intermediate position. We also find that perceived job security in both permanent private and temporary jobs is positively correlated with UIB generosity, while the relationship with EPL strictness is negative: workers feel less secure in countries where jobs are more protected. These correlations are absent for permanent public jobs, suggesting that such jobs are perceived to be by and large insulated from labor market fluctuations. |
| Keywords: | perceived job security, Employment Protection Legislation, Unemployment Insurance Benefits |
| JEL: | J28 J65 I31 |
| Date: | 2005–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp1489&r=reg |