Environmental regulation and productivity growth: Main policy challenges

Pharmaceutical Regulation and Productivity Challenges

With the costs of pharmaceuticals increasing, steps need to be taken to modernize the approach process in order to reduce the cost of developing new medicines and increase the availability of new and better pharmaceuticals.

Policy Uncertainty, Total Factor Productivity and Growth

This note shows that differences (across sectors or regions) in the effective price of inputs results in low measured total factor productivity (TFP).

Endemic diseases and agricultural productivity: Challenges and policy response

Policy persistence in environmental regulation

We study the optimal emission standards under uncertain pollution damages and transaction costs associated with policy changes in a dynamic setting. We consider three alternative forms of transactions costs and show that they can lead to different kinds of delays of policy changes or smaller scales of these changes. Thus, policy persistence can be a rational response of forward-looking policy m...

Policy Persistance in Environmental Regulation

We study the optimal emission standards under uncertain pollution damages and transaction costs associated with policy changes. We show that in many situations, the authority should avoid or reduce the scale of a policy change in the presence of future transaction costs. Then policy persistence is a rational response of forward-looking policy makers to future transaction costs, rather than a pa...