Role of Economics

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Peter J. Wilcoxen - One of the best experts on this subject based on the ideXlab platform.

  • the Role of Economics in climate change policy
    Journal of Economic Perspectives, 2002
    Co-Authors: Warwick J. Mckibbin, Peter J. Wilcoxen
    Abstract:

    The most important characteristic of climate change as a policy problem is uncertainty. From climatology to Economics, uncertainties are pervasive, large and difficult to resolve. However, the economic theory of environmental policy under uncertainty provides a clear guide to the design of an appropriate policy. An efficient and practical approach would be a hybrid that incorporates the best features of tradable permits and emissions taxes. Unfortunately, international negotiations have taken a different approach, focusing on rigid targets and timetables for emissions reductions. The result has been the Kyoto Protocol, an agreement with no real chance of reducing greenhouse gas emissions.

  • the Role of Economics in climate change policy
    Journal of Economic Perspectives, 2002
    Co-Authors: Warwick J. Mckibbin, Peter J. Wilcoxen
    Abstract:

    Many policy problems have frustratingly long histories of inefficient regulation that can be difficult or impossible to reverse, even where large efficiency gains might be had from doing so. Climate change is an exception, however, because little real action has been undertaken to date. It presents an unusual opportunity for an efficient economic policy to be employed right from the beginning. However, the opportunity could easily be lost. Ongoing negotiations conducted under the auspices of the United Nations Framework Convention on Climate Change have so far produced the Kyoto Protocol, a deeply flawed agreement that manages to be both economically inefficient and politically impractical. In this article, we examine the key economic characteristics of climate change and argue that economic theory provides good guidance on the design of an efficient and politically realistic policy. Because climate change involves vast uncertainties and has potentially enormous distributional effects, neither of the standard market-based environmental policy instruments is a viable approach: a tradable permit system would be inefficient, and an emissions tax would be politically unrealistic. However, a hybrid policy, combining the best features of the two, would be an efficient and practical approach. We then compare our hybrid proposal to the Kyoto Protocol and argue that it overcomes the Protocol’s shortcomings.

Paul G Barnett - One of the best experts on this subject based on the ideXlab platform.

  • The Role of Economics in the QUERI program: QUERI Series
    Implementation Science, 2008
    Co-Authors: Mark W Smith, Paul G Barnett
    Abstract:

    Background The United States (U.S.) Department of Veterans Affairs (VA) Quality Enhancement Research Initiative (QUERI) has implemented economic analyses in single-site and multi-site clinical trials. To date, no one has reviewed whether the QUERI Centers are taking an optimal approach to doing so. Consistent with the continuous learning culture of the QUERI Program, this paper provides such a reflection. Methods We present a case study of QUERI as an example of how economic considerations can and should be integrated into implementation research within both single and multi-site studies. We review theoretical and applied cost research in implementation studies outside and within VA. We also present a critique of the use of economic research within the QUERI program. Results Economic evaluation is a key element of implementation research. QUERI has contributed many developments in the field of implementation but has only recently begun multi-site implementation trials across multiple regions within the national VA healthcare system. These trials are unusual in their emphasis on developing detailed costs of implementation, as well as in the use of business case analyses (budget impact analyses). Conclusion Economics appears to play an important Role in QUERI implementation studies, only after implementation has reached the stage of multi-site trials. Economic analysis could better inform the choice of which clinical best practices to implement and the choice of implementation interventions to employ. QUERI Economics also would benefit from research on costing methods and development of widely accepted international standards for implementation Economics.

  • the Role of Economics in the queri program queri series
    Implementation Science, 2008
    Co-Authors: Mark W Smith, Paul G Barnett
    Abstract:

    Background The United States (U.S.) Department of Veterans Affairs (VA) Quality Enhancement Research Initiative (QUERI) has implemented economic analyses in single-site and multi-site clinical trials. To date, no one has reviewed whether the QUERI Centers are taking an optimal approach to doing so. Consistent with the continuous learning culture of the QUERI Program, this paper provides such a reflection.

Warwick J. Mckibbin - One of the best experts on this subject based on the ideXlab platform.

  • the Role of Economics in climate change policy
    Journal of Economic Perspectives, 2002
    Co-Authors: Warwick J. Mckibbin, Peter J. Wilcoxen
    Abstract:

    The most important characteristic of climate change as a policy problem is uncertainty. From climatology to Economics, uncertainties are pervasive, large and difficult to resolve. However, the economic theory of environmental policy under uncertainty provides a clear guide to the design of an appropriate policy. An efficient and practical approach would be a hybrid that incorporates the best features of tradable permits and emissions taxes. Unfortunately, international negotiations have taken a different approach, focusing on rigid targets and timetables for emissions reductions. The result has been the Kyoto Protocol, an agreement with no real chance of reducing greenhouse gas emissions.

  • the Role of Economics in climate change policy
    Journal of Economic Perspectives, 2002
    Co-Authors: Warwick J. Mckibbin, Peter J. Wilcoxen
    Abstract:

    Many policy problems have frustratingly long histories of inefficient regulation that can be difficult or impossible to reverse, even where large efficiency gains might be had from doing so. Climate change is an exception, however, because little real action has been undertaken to date. It presents an unusual opportunity for an efficient economic policy to be employed right from the beginning. However, the opportunity could easily be lost. Ongoing negotiations conducted under the auspices of the United Nations Framework Convention on Climate Change have so far produced the Kyoto Protocol, a deeply flawed agreement that manages to be both economically inefficient and politically impractical. In this article, we examine the key economic characteristics of climate change and argue that economic theory provides good guidance on the design of an efficient and politically realistic policy. Because climate change involves vast uncertainties and has potentially enormous distributional effects, neither of the standard market-based environmental policy instruments is a viable approach: a tradable permit system would be inefficient, and an emissions tax would be politically unrealistic. However, a hybrid policy, combining the best features of the two, would be an efficient and practical approach. We then compare our hybrid proposal to the Kyoto Protocol and argue that it overcomes the Protocol’s shortcomings.

Carsten Grave - One of the best experts on this subject based on the ideXlab platform.

Mark W Smith - One of the best experts on this subject based on the ideXlab platform.

  • The Role of Economics in the QUERI program: QUERI Series
    Implementation Science, 2008
    Co-Authors: Mark W Smith, Paul G Barnett
    Abstract:

    Background The United States (U.S.) Department of Veterans Affairs (VA) Quality Enhancement Research Initiative (QUERI) has implemented economic analyses in single-site and multi-site clinical trials. To date, no one has reviewed whether the QUERI Centers are taking an optimal approach to doing so. Consistent with the continuous learning culture of the QUERI Program, this paper provides such a reflection. Methods We present a case study of QUERI as an example of how economic considerations can and should be integrated into implementation research within both single and multi-site studies. We review theoretical and applied cost research in implementation studies outside and within VA. We also present a critique of the use of economic research within the QUERI program. Results Economic evaluation is a key element of implementation research. QUERI has contributed many developments in the field of implementation but has only recently begun multi-site implementation trials across multiple regions within the national VA healthcare system. These trials are unusual in their emphasis on developing detailed costs of implementation, as well as in the use of business case analyses (budget impact analyses). Conclusion Economics appears to play an important Role in QUERI implementation studies, only after implementation has reached the stage of multi-site trials. Economic analysis could better inform the choice of which clinical best practices to implement and the choice of implementation interventions to employ. QUERI Economics also would benefit from research on costing methods and development of widely accepted international standards for implementation Economics.

  • the Role of Economics in the queri program queri series
    Implementation Science, 2008
    Co-Authors: Mark W Smith, Paul G Barnett
    Abstract:

    Background The United States (U.S.) Department of Veterans Affairs (VA) Quality Enhancement Research Initiative (QUERI) has implemented economic analyses in single-site and multi-site clinical trials. To date, no one has reviewed whether the QUERI Centers are taking an optimal approach to doing so. Consistent with the continuous learning culture of the QUERI Program, this paper provides such a reflection.