Suchergebnisse

Especially since September 11, 2001, national security has been a high policy priority for the United States. Unfortunately, this has come at the detriment of other policies and relationships with foreign nations, including its fellow North American neighbors, Canada, and Mexico. What the current US. administration has overlooked in its reprioritization of policy goals is the close relationship between security and environmental protection. This article discusses the need to more closely incorporate environmental and/or ecological security into a traditional notion of national security and it highlights the specific link between traditional conceptions of security and global climate change. The study additionally debates the question of US. participation in a North American environmental security agenda, namely one that coordinates efforts to address global warming. Adapted from the source document.

Latin American societies and economies are. in a world of change and transition. The past decade, from 1973 to the present, has been for them an era of anxiety on the one hand and of opportunity on the other, a paradoxical era in which prospects for development had to compete with the high social costs of stagnation in many instances.Energy was the catchword, and the name of energy was oil. Its price, its availability, and its promise (a road to riches for those fortunate enough to possess it, a threat of increasing poverty for those unfortunate enough to have to buy it) brought turmoil to the economies, and the bodies politic, of Latin America.

Often enough, social welfare and private benefit do not align for quasi-public goods/services. The inter-basin water transfer (IBWT) project provides a vivid example of this. In this paper, following the game-theoretical approach, we derive an optimal Ramsey pricing scheme to resolve these conflicts. We try to compare traditional supply chain management models with an optimal Ramsey pricing scheme, with an enforcement of coordination among firms. Using simulation techniques, we compute numerical estimates under three regimes: a standard equilibrium decision framework, a coordination decision model and a coordinated Ramsey pricing scheme. Our results show the relative welfare impact of different settings, revealing that the optimal pricing scheme based on the two-part tariff structure cannot only improve social welfare, but also ensure a target profit for participating firms. Lastly, our findings have strong policy implications for the government with profit regulation and the control of water resources.

We examine the stock market reaction to 1227 inter‐corporate ordinary business contract announcements reported by Dow Jones between January 1, 1990 and December 31, 2001. Around contract announcement dates, we find statistically significant positive average abnormal returns and abnormal trading volume for contractors, but insignificant positive abnormal returns and negative abnormal volume for contractees. Cross‐sectionally, contract announcement period returns are higher for contractors who are small relative to the contract size, have higher return volatility, larger market‐to‐book ratios and higher profitability. The announcement period returns of contract‐awarding firms are not significant and are only marginally related to cross‐sectional explanatory factors. The results are consistent with two explanatory stories: contractor quasi‐rents induced by the winner's curse and information signalling about contractor production costs. The results are not consistent with perfect competition, with contracts having positive net present values for both parties, and with a version of incomplete contracting theory.