Bovine tuberculosis is an intractable policy problem characterised by conflict. Devolution offers the possibility of significant policy variation within Great Britain and bovine tuberculosis has seen this. In Great Britain three distinct policies developed on the back of the same substantial evidence base. Science has not provided the answer and the law has ensured that it remains a difficult issue for the Welsh and Westminster governments. The low incidence of bovine tuberculosis in Scotland has allowed a sustainable policy to develop in that nation.
We develop and estimate a small open economy dynamic stochastic general equilibrium model to investigate the effectiveness of the Australian fiscal stimulus package introduced in the aftermath of the global financial crisis (GFC). The estimated model implies a fiscal multiplier of 0.9 on impact and 1.26 with one‐year monetary accommodation. Utilising the estimated shocks – in particular, the fiscal shocks that mimic the stimulus transfers – we conduct several counterfactual policy experiments. Our results suggest that the stimulus transfers were almost equally important as the concurrent monetary easing actions in helping the Australian economy to avoid a recession after the GFC.
This paper develops a choice-theoretic equilibrium model of the labor market in the presence of a pandemic. It includes heterogeneity in productivity, age and the ability to work from home. Worker and firm behavior changes in the presence of the virus, which itself has equilibrium consequences for the infection rate. The model is calibrated to the UK and counterfactual lockdown measures are evaluated. We find a different response in both the evolution of the virus and the labor market with different lockdown policies. A laissez-faire approach results in lives lost and acts as negative shock to the economy. A lockdown policy, absent any other intervention, will reduce the lives lost but increase the economic burden. Consistent with recent evidence, we find that the economic costs from lockdown are most felt by those earning the least. Finally, we introduce a job retention scheme as implemented by the UK Government and find that it spreads the economic hardship more equitably.
Interest in cognitive approaches has led to a need for means of ascertaining individual perceptions with a view to relating these to spatial behaviour. Yet such methods as the repertory grid, although invaluable for investigating individuals, make comparisons across a wider group difficult. The multidimensional scaling program PREFMAP possesses this facility through its assumption of a group cognitive space whose dimensions, while common to all, have different saliences for different individuals. This study tests the feasibility of using PREFMAP to study perceived attributes of shopping centres. A broad, though not exact, commonality of dimensions appears to exist. Values of subjects' saliences on PREFMAP dimensions are further shown to be related to variations in shopping behaviour, but until multidimensional scaling can be related to a theory of cognition it will not realise its potential for behavioural studies.
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