The Experts below are selected from a list of 115038 Experts worldwide ranked by ideXlab platform
William L Andreen - One of the best experts on this subject based on the ideXlab platform.
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motivating enforcement institutional culture and the clean water act
Social Science Research Network, 2007Co-Authors: William L AndreenAbstract:Vigorous enforcement is a critical component of any credible environmental Protection Program. Congress recognized that fact when it enacted the Clean Water Act in 1972. The Act, therefore, contains an enforceable pollution control scheme, more than adequate federal enforcement tools, and calls upon the states and private citizens to aid in the enforcement of the Act. Unfortunately, enforcement efforts at the U.S. Environmental Protection Agency (EPA) have lapsed several times in the recent past. This article explores a form of self-regulation that would create an ex ante limit on politically motivated attempts to undermine the Act through non-enforcement. While not fail-proof, the full blossoming of a proud, independent law enforcement culture within EPA's enforcement staff may be one of the most feasible ways in which to maintain a stable and vital enforcement Program.
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motivating enforcement institutional culture and the clean water act
Pace Environmental Law Review, 2007Co-Authors: William L AndreenAbstract:Vigorous enforcement is a critical component of any credible environmental Protection Program. Congress recognized that fact when it enacted the Clean Water Act in 1972. The Act, therefore, contains an enforceable pollution control scheme, more than adequate federal enforcement tools, and calls upon the states and private citizens to aid in the enforcement of the Act. Unfortunately, enforcement efforts have lapsed several times in the recent past. This article explores a form of self-regulation that would create an ex ante limit on politically motivated attempts to undermine the Act through non-enforcement. While not fail-proof, the full blossoming of a proud, independent law enforcement culture within the enforcement staff itself may be one of the most feasible ways to maintain a stable and vital enforcement Program.
Jianguo Zhu - One of the best experts on this subject based on the ideXlab platform.
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effectiveness of china s national forest Protection Program and nature reserves
Conservation Biology, 2015Co-Authors: Guopeng Ren, Yongcheng Long, Wei Wang, Stephen S Young, Lin Wang, Jianguo ZhuAbstract:There is profound interest in knowing the degree to which China's institutions are capable of protecting its natural forests and biodiversity in the face of economic and political change. China's 2 most important forest-Protection policies are its National Forest Protection Program (NFPP) and its national-level nature reserves (NNRs). The NFPP was implemented in 2000 in response to deforestation-caused flooding. We undertook the first national, quantitative assessment of the NFPP and NNRs to examine whether the NFPP achieved its deforestation-reduction target and whether the NNRs deter deforestation altogether. We used MODIS data to estimate forest cover and loss across mainland China (2000–2010). We also assembled the first-ever polygon dataset for China's forested NNRs (n = 237, 74,030 km2 in 2000) and used both conventional and covariate-matching approaches to compare deforestation rates inside and outside NNRs (2000–2010). In 2000, 1.765 million km2 or 18.7% of mainland China was forested (12.3% with canopy cover of ≥70%)) or woodland (6.4% with canopy cover <70% and tree plus shrub cover ≥40%). By 2010, 480,203 km2 of forest and woodland had been lost, an annual deforestation rate of 2.7%. Forest-only loss was 127,473 km2 (1.05% annually). In the NFPP provinces, the forest-only loss rate was 0.62%, which was 3.3 times lower than in the non-NFPP provinces. Moreover, the Landsat data suggest that these loss rates are overestimates due to large MODIS pixel size. Thus, China appears to have achieved, and even exceeded, its target of reducing deforestation to 1.1% annually in the NFPP provinces. About two-thirds of China's NNRs were effective in protecting forest cover (prevented loss 4073 km2 unmatched approach; 3148 km2 matched approach), and within-NNR deforestation rates were higher in provinces with higher overall deforestation. Our results indicate that China's existing institutions can protect domestic forest cover.
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the effectiveness of chinas national forest Protection Program and national level nature reserves 2000 to 2010
bioRxiv, 2013Co-Authors: Guopeng Ren, Yongcheng Long, Wei Wang, Stephen S Young, Lin Wang, Jianguo ZhuAbstract:There is profound interest in knowing the degree to which Chinas institutions are capable of protecting its natural forests and biodiversity in the face of economic and political change. Chinas two most important forest Protection policies are its National Forest Protection Program (NFPP) and its National-level Nature Reserves (NNRs). The NFPP was implemented in 17 provinces starting in the year 2000 in response to deforestation-caused flooding. We used MODIS data (MOD13Q1) to estimate forest cover and forest loss across mainland China, and we report that 1.765 million km2 or 18.7% of mainland China was covered in forest (12.3%, canopy cover > 70%) and woodland (6.4%, 40% ≤ canopy cover < 70%) in 2000. By 2010, a total of 480,203 km2 of forest+woodland was lost, amounting to an annual deforestation rate of 2.7%. The forest-only loss was 127,473 km2, or 1.05% annually. The three most rapidly deforested provinces were outside NFPP jurisdiction, in the southeast. Within the NFPP provinces, the annual forest+woodland loss rate was 2.26%, and the forest-only rate was 0.62%. Because these loss rates are likely overestimates, China appears to have achieved, and even exceeded, its NFPP target of reducing deforestation to 1.1% annually in the target provinces. We also assemble the first-ever polygon dataset for Chinas forested NNRs (n=237), which covered 74,030 km2 in 2000. Conventional unmatched and covariate-matching analyses both find that about two-thirds of Chinas NNRs exhibit effectiveness in protecting forest cover and that within-NNR deforestation rates are higher in provinces that have higher overall deforestation.
Eric Zwick - One of the best experts on this subject based on the ideXlab platform.
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did the paycheck Protection Program hit the target
National Bureau of Economic Research, 2020Co-Authors: Joao Granja, Christos Makridis, Constantine Yannelis, Eric ZwickAbstract:From the Abstract: This paper takes an early look at the Paycheck Protection Program (PPP), a large and novel small business support Program that was part of the initial policy response to the COVID-19 [coronavirus disease 2019] pandemic We use new data on the distribution of the first round of PPP loans and high-frequency microlevel employment data to consider two dimensions of Program targeting First, we do not find evidence that funds flowed to areas more adversely affected by the economic effects of the pandemic, as measured by declines in hours worked or business shutdowns If anything, funds flowed to areas less hard hit Second, we find significant heterogeneity across banks in terms of disbursing PPP funds, which does not only reflect differences in underlying loan demand The top-4 banks alone account for 36% of total pre-policy small business loans, but disbursed less than 3% of all PPP loans in the first round Areas that were significantly more exposed to low PPP banks received much lower loan allocations We do not find evidence that the PPP had a substantial effect on local economic outcomes--including declines in hours worked, business shutdowns, initial unemployment insurance claims, and small business revenues--during the first round of the Program Firms appear to use first round funds to build up savings and meet loan and other commitments, which points to possible medium-run impacts As data become available, we will continue to study employment and establishment responses to the Program and the impact of PPP support on the economic recovery Measuring these responses is critical for evaluating the social insurance value of the PPP and similar policies COVID-19 (Disease)
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did the paycheck Protection Program hit the target
Social Science Research Network, 2020Co-Authors: Joao Granja, Christos Makridis, Constantine Yannelis, Eric ZwickAbstract:This paper provides a comprehensive assessment of financial intermediation and the economic effects of the Paycheck Protection Program (PPP), a large and novel small business support Program that was part of the initial policy response to the COVID-19 pandemic in the US. We use loan-level microdata for all PPP loans and high-frequency administrative employment data to present three main findings. First, banks played an important role in mediating Program targeting, which helps explain why some funds initially flowed to regions that were less adversely affected by the pandemic. Second, we exploit regional heterogeneity in lending relationships and individual firm-loan matched data to study the role of banks in explaining the employment effects of the PPP. We find the short- and medium-term employment effects of the Program were small compared to the Program's size. Third, many firms used the loans to make non-payroll fixed payments and build up savings buffers, which can account for small employment effects and likely reflects precautionary motives in the face of heightened uncertainty. Limited targeting in terms of who was eligible likely also led to many inframarginal firms receiving funds and to a low correlation between regional PPP funding and shock severity. Our findings illustrate how business liquidity support Programs affect firm behavior and local economic activity, and how policy transmission depends on the agents delegated to deploy it.
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did the paycheck Protection Program hit the target
Research Papers in Economics, 2020Co-Authors: Joao Granja, Christos Makridis, Constantine Yannelis, Eric ZwickAbstract:This paper takes an early look at the Paycheck Protection Program (PPP), a large and novel small business support Program that was part of the initial policy response to the COVID-19 pandemic. We use new data on the distribution of the first round of PPP loans and high-frequency micro-level employment data to consider two dimensions of Program targeting. First, we do not find evidence that funds flowed to areas more adversely affected by the economic effects of the pandemic, as measured by declines in hours worked or business shutdowns. If anything, funds flowed to areas less hard hit. Second, we find significant heterogeneity across banks in terms of disbursing PPP funds, which does not only reflect differences in underlying loan demand. The top-4 banks alone account for 36% of total pre-policy small business loans, but disbursed less than 3% of all PPP loans in the first round. Areas that were significantly more exposed to low-PPP banks received much lower loan allocations. We do not find evidence that the PPP had a substantial effect on local economic outcomes—including declines in hours worked, business shutdowns, initial unemployment insurance claims, and small business revenues—during the first round of the Program. Firms appear to use first round funds to build up savings and meet loan and other commitments, which points to possible medium-run impacts. As data become available, we will continue to study employment and establishment responses to the Program and the impact of PPP support on the economic recovery. Measuring these responses is critical for evaluating the social insurance value of the PPP and similar policies.
Christos Makridis - One of the best experts on this subject based on the ideXlab platform.
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using machine learning to understand veterans receipt of loans in the paycheck Protection Program
Social Science Research Network, 2020Co-Authors: Christos Makridis, J D Kelly, Gil AlterovitzAbstract:This paper provides the first quantitative investigation of the receipt of funds from the Paycheck Protection Program (PPP) among Veterans between April and June. We find that Veterans received 3.5% more loans and 6.8% larger loans than their counterparts (p<0.01), controlling for a wide array of zipcode characteristics and exploits within-zipcode variation in further robustness. We subsequently use machine learning to predict PPP loan receipt among Veterans, finding that characteristics about quality of the local Department of Veterans Affairs medical centers are predictive. We develop models to predict the number of PPP loans awarded to Veteran-owned, finding that the inclusion of local VA medical center characteristics adds almost as much explanatory power as the industry and occupational composition in an area and even more than the education, race, and age distribution combined. Our results suggest that VA medical centers can play an important role in helping Veterans thrive even beyond addressing their direct medical needs.
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did the paycheck Protection Program hit the target
National Bureau of Economic Research, 2020Co-Authors: Joao Granja, Christos Makridis, Constantine Yannelis, Eric ZwickAbstract:From the Abstract: This paper takes an early look at the Paycheck Protection Program (PPP), a large and novel small business support Program that was part of the initial policy response to the COVID-19 [coronavirus disease 2019] pandemic We use new data on the distribution of the first round of PPP loans and high-frequency microlevel employment data to consider two dimensions of Program targeting First, we do not find evidence that funds flowed to areas more adversely affected by the economic effects of the pandemic, as measured by declines in hours worked or business shutdowns If anything, funds flowed to areas less hard hit Second, we find significant heterogeneity across banks in terms of disbursing PPP funds, which does not only reflect differences in underlying loan demand The top-4 banks alone account for 36% of total pre-policy small business loans, but disbursed less than 3% of all PPP loans in the first round Areas that were significantly more exposed to low PPP banks received much lower loan allocations We do not find evidence that the PPP had a substantial effect on local economic outcomes--including declines in hours worked, business shutdowns, initial unemployment insurance claims, and small business revenues--during the first round of the Program Firms appear to use first round funds to build up savings and meet loan and other commitments, which points to possible medium-run impacts As data become available, we will continue to study employment and establishment responses to the Program and the impact of PPP support on the economic recovery Measuring these responses is critical for evaluating the social insurance value of the PPP and similar policies COVID-19 (Disease)
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did the paycheck Protection Program hit the target
Social Science Research Network, 2020Co-Authors: Joao Granja, Christos Makridis, Constantine Yannelis, Eric ZwickAbstract:This paper provides a comprehensive assessment of financial intermediation and the economic effects of the Paycheck Protection Program (PPP), a large and novel small business support Program that was part of the initial policy response to the COVID-19 pandemic in the US. We use loan-level microdata for all PPP loans and high-frequency administrative employment data to present three main findings. First, banks played an important role in mediating Program targeting, which helps explain why some funds initially flowed to regions that were less adversely affected by the pandemic. Second, we exploit regional heterogeneity in lending relationships and individual firm-loan matched data to study the role of banks in explaining the employment effects of the PPP. We find the short- and medium-term employment effects of the Program were small compared to the Program's size. Third, many firms used the loans to make non-payroll fixed payments and build up savings buffers, which can account for small employment effects and likely reflects precautionary motives in the face of heightened uncertainty. Limited targeting in terms of who was eligible likely also led to many inframarginal firms receiving funds and to a low correlation between regional PPP funding and shock severity. Our findings illustrate how business liquidity support Programs affect firm behavior and local economic activity, and how policy transmission depends on the agents delegated to deploy it.
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did the paycheck Protection Program hit the target
Research Papers in Economics, 2020Co-Authors: Joao Granja, Christos Makridis, Constantine Yannelis, Eric ZwickAbstract:This paper takes an early look at the Paycheck Protection Program (PPP), a large and novel small business support Program that was part of the initial policy response to the COVID-19 pandemic. We use new data on the distribution of the first round of PPP loans and high-frequency micro-level employment data to consider two dimensions of Program targeting. First, we do not find evidence that funds flowed to areas more adversely affected by the economic effects of the pandemic, as measured by declines in hours worked or business shutdowns. If anything, funds flowed to areas less hard hit. Second, we find significant heterogeneity across banks in terms of disbursing PPP funds, which does not only reflect differences in underlying loan demand. The top-4 banks alone account for 36% of total pre-policy small business loans, but disbursed less than 3% of all PPP loans in the first round. Areas that were significantly more exposed to low-PPP banks received much lower loan allocations. We do not find evidence that the PPP had a substantial effect on local economic outcomes—including declines in hours worked, business shutdowns, initial unemployment insurance claims, and small business revenues—during the first round of the Program. Firms appear to use first round funds to build up savings and meet loan and other commitments, which points to possible medium-run impacts. As data become available, we will continue to study employment and establishment responses to the Program and the impact of PPP support on the economic recovery. Measuring these responses is critical for evaluating the social insurance value of the PPP and similar policies.
Manju Puri - One of the best experts on this subject based on the ideXlab platform.
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small bank financing and funding hesitancy in a crisis evidence from the paycheck Protection Program
Social Science Research Network, 2021Co-Authors: Tetyana Balyuk, Nagpurnanand Prabhala, Manju PuriAbstract:We study the delivery of subsidized financing to small firms through the Paycheck Protection Program (PPP). Smaller firms are less likely to gain early PPP access, an effect attenuated in small banks and firms with prior lending relationships. Their more even treatment offers a new rationale, beyond traditional soft information arguments, for why small businesses pair with small banks. We also detect a “funding hesitancy” in PPP uptake by small businesses, partly reflecting their wariness of the extensive, subjective government powers to investigate PPP recipients. We discuss the implications of the results for research and policies on small business financing.
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indirect costs of government aid and intermediary supply effects lessons from the paycheck Protection Program
National Bureau of Economic Research, 2020Co-Authors: Tetyana Balyuk, Nagpurnanand Prabhala, Manju PuriAbstract:The $669 billion Paycheck Protection Program (PPP) provides highly subsidized financing to small businesses. The PPP is a positive shock in financing supply to the small, highly constrained publicly listed firms in our sample and has average positive treatment effects. Yet, uptake is not universal. In fact, several firms return PPP funds before use, and curiously, experience positive valuation effects when they do so. These firms desire and the markets value the release from government oversight even if it means giving up cheap funding. The PPP is also a demand shock to the banks making PPP loans. Intermediary supply effects shape PPP delivery. Larger borrowers enjoy earlier PPP access, an effect that is more pronounced in big banks. The results have implications for policy design, the costs of being public, and bank-firm relationships.
