Rates of time preference for saving lives
Environmental programs provide future benefits but involve substantial start-up costs. Regulators prefer to analyze these programs on the basis of cost-per-life-saved, rather than assigning dollar values to the declines in future risk. Surveys indicate that the public is present-oriented, preferring to implement environmental programs that will save fewer people in the present rather than a greater number of people in the future. These responses could be the result of self-preservation tendencies or the belief that more effective programs will save people in the future.
Publication Name: American Economic Review
Assessing the effectiveness of saving incentives
Voluntary public policies providing incentives to save money for retirement may be ineffective as individuals who are unable to control expenditure to save for the future are unlikely to enroll in them. Individual Retirement Accounts (IRAs) assure employees without pension plans of a saving program. In the 401(k) plan, sponsored by the employers, the contribution is deducted from the payroll and the accumulated interest is untaxable. The 401(k) plan is more attractive to employees with low incomes while an IRA plan attracts wealthier, older employees.
Publication Name: Journal of Economic Perspectives
On Keynesian theories of liquidity preference
A macroeconomic perspective on the interaction between the financial system and the level of economic activity has been proposed. It focuses on the relationship between liquidity preference, investment and how confidence fits into the picture. Two Keynesian theories of liquidity preference have been evaluated and both found to give insight into some parts of the monetary thought of John Maynard Keynes.
Publication Name: Manchester School
- Abstracts: Presidential preferences for inflation versus unemployment. Appointments, presidential power, and the Federal Reserve
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- Abstracts: Intertemporal preferences, imperfect competition and effective fiscal intervention. Effective protection in the presence of joint production
- Abstracts: Evidence on real gains in corporate acquisitions. An equilibrium theory of nominal and real exchange rate comovement
- Abstracts: Seeing risk in three dimensions. Keep it simple. Three generations keep on trucking in Johnstown