Genus-group names of bees and supplemental family-group names / by Charles D. Michener.

no.1

Science policy : USA/USSR / [report prepared for National Science Foundation, Directorate for Scientific, Technological and International Affairs, Division of International Programs].

2

Science, technology, and American diplomacy : an extended study of the interactions of science and technology with United States foreign policy / Committee on International Relations, U.S. House of Representatives.

3

Science, technology, and American diplomacy : an extended study of the interactions of science and technology with United States foreign policy / Committee on International Relations, U.S. House of Representatives.

1

Science, technology, and American diplomacy : an extended study of the interactions of science and technology with United States foreign policy / Committee on International Relations, U.S. House of Representatives.

2

Optimal enforcement policy and firms' emissions and compliance with environmental taxes

In a market where firms with different characteristics decide upon both the level of emissions and their reports, we study the optimal audit policy for an enforcement agency whose objective is to minimize the level of emissions. We show that it is optimal to devote the resources primarily to the easiest-to-monitor firms and to those firms that value pollution the less. Moreover, unless the budget for monitoring is very large, there are always firms that do not comply with the environmental objective and others that do comply; but all of them evade the environmental taxes.

Credit markets and the propagation of monetary policy shocks

This paper analyzes the propagation of monetary policy shocks through the creation of credit in an economy. Models of the monetary transmission mechanism typically feature responses which last for a few quarters contrary to what the empirical evidence suggests. To propagate the impact of monetary shocks over time, these models introduce adjustment costs by which agents find it optimal to change their decisions slowly. This paper presents another explanation that does not rely on any sort of adjustment costs or stickiness. In our economy, agents own assets and make occupational choices. Banks intermediate between agents demanding and supplying assets. Our interpretation is based on the way banks create credit and how the monetary authority affects the process of financial intermediation through its monetary policy. As the central bank lowers the interest rate by buying government bonds in exchange for reserves, high productive entrepreneurs are able to borrow more resources from low productivity agents. We show that this movement of capital among agents sets in motion a response of the economy that resembles an expansionary phase of the cycle.