Optimal Minimum Wage in a Competitive Economy: an Alternative Modelling Approach

This paper analyzes whether a minimum wage can be an optimal redistribution policy when distorting taxes and lump-sum transfers are also available in a competitive economy. We build a static general equilibrium model with a Ramsey planner making decisions on taxes, transfers, and minimum wage levels. Workers are assumed to differ only in their productivity. We find that optimal redistribution may imply the use of a minimum wage. The key factor driving our results is the reaction of the demand for low skilled labor to the minimum wage law. Hence, an optimal minimum wage appears to be most likely when low skilled households are scarce, the complementarity between the two types of workers is large or the difference in productivity is small. The main contribution of the paper is a modelling approach that allows us to adopt analysis and solution techniques widely used in recent public finance research. Moreover, this modelling strategy is flexible enough to allow for potential extensions to include dynamics into the model.

An empirical comparison of the performance of alternative option pricing models

Published as an article in: Investigaciones Economicas, 2005, vol. 29, issue 3, pages 483-523.

The coincidence of the kernel and nucleolus of a convex game: an alternative proof

In 1972, Maschler, Peleg and Shapley proved that in the class of convex the nucleolus and the kernel coincide. The only aim of this note is to provide a shorter, alternative proof of this result.

Report on the Alternative Platform Observer Program in North Carolina: March 2006 to March 2007

In February 2006, an Alternative Platform Observer Program (APP) was implemented in North Carolina (NC) to observe commercial gillnet trips by small vessels [<24 ft (7.2 m)] in nearshore waters out to three nm (5.6 km). Efforts began with outreach to the fishing industry while simultaneously gathering information to be incorporated in a Database of Fishermen. From 30 March 2006 through 31 March 2007, 36 trips were observed. Observed trips of the NC nearshore gillnet fishery targeted seven species: kingfish (Menticirrhus spp.), Spanish mackerel (Scomberomorus maculatus), spiny dogfish (Squalus acanthias), spot (Leiostomus xanthurus), spotted seatrout (Cynoscion nebulosus), striped bass (Morone saxatilis), and weakfish (Cynoscion regalis). Of the 36 trips, 20 (55.6%) were with vessels that were new to the Northeast Fisheries Observer Program (NEFOP), having never carried an observer. Based on the landings data for small vessels from North Carolina Division of Marine Fisheries (NCDMF), the APP has achieved 10.1% coverage by number of trips and 4.0% by pounds landed. No incidental takes of bottlenose dolphins were observed by the APP, although bottlenose dolphins were sighted during 19 (52.8%) observed trips. The APP has drastically increased the number of observed trips of small vessels in the nearshore waters of NC. When combined with trips observed by NEFOP (n=205), the APP resulted in a 15.6% increase in the number of observed gillnet trips. (PDF contains 34 pages)

Hydroacoustic surveys: a non-destructive approach to monitoring fish distributions at National Marine Sanctuaries

The science of fisheries acoustics and its applicability to resource management have evolved over the past several decades. This document provides a basic description of fisheries acoustics and recommendations on using this technology for research and monitoring of fish distributions and habitats within sanctuaries. It also describes recent efforts aimed at applying fisheries acoustics to Gray’s Reef National Marine Sanctuary (GRNMS) (Figure 1). Historically, methods to assess the underwater environment have included net trawls, diver censuses, hook and line, video, sonar and other techniques deployed in a variety of ways. Fisheries acoustics, using active sonar, relies on the physics of sound traveling through water to quantify the distribution of biota in the water column. By sending a signal of a given frequency through the water column and recording the time of travel and the strength of the reflected signal, it is possible to determine the size and location of fish and estimate biomass from the acoustic backscatter. As a fisheries assessment tool, active hydroacoustics technology is an efficient, non-intrusive method of mapping the water column at a very fine spatial and temporal resolution. It provides a practical alternative to bottom and mid-water trawls, which are not allowed at GRNMS. Passive acoustics, which uses underwater hydrophones to record man-made and natural sounds such as fish spawning calls and sounds produced by marine mammals for communication and echolocation, can provide a useful, complementary survey tool. This report primarily deals with active acoustics, although the integration of active and passive acoustics is addressed as well. (PDF contains 32 pages)

Libraries and alternative formats research

Good practice pointers

Guide to obtaining textbooks in alternative formats

Digital text benefits a wide range of learners, particularly disabled learners. For those with a visual impairment, it can be magnified or read out loud using synthetic speech. It can be navigated by heading and subheading levels, and text colours and backgrounds can be altered, both useful features for dyslexic learners. Definitions of unfamiliar words can be checked without leaving the text.

Libraries and alternative formats research

This series of five documents is a result of research carried out with a grant from CLAUD (a group of HE librarians in South West England who are working to help create libraries accessible to users with a disability). The research involved over 60 responses representing 49 different Higher Education Institutes (HEIs).

Getting information in alternative formats

For many learners, course materials in standard print format are difficult to use. Getting these in alternative formats could make a big difference but how do you find out what the options are? This guide seeks to provide an overview of the alternative formats available and how you can create them.