1,720,964 research outputs found
Cost sharing and catch sharing
Get PDFThe model developed in this paper attempts to provide an explanation of the fact that Icelandic vessel owners and Icelandic skippers do not share costs of operation of a vessel. In the model a skipper is contracted to take a fishing vessel to the fishing ground. The skipper is remunerated with a share of the catch, subject to an agreed minimum. Skippers and vessel owners are modelled as if risk neutral. Skippers develop a fishing strategy which is more costly, the higher the value of the potential catch associated with that strategy. Costs that accrue are partly pecuniary (and shareable) and partly skipper-specific (and non- shareable). The conclusions of the paper demonstrate that given the assumptions of our model, a vessel owner should prefer a remuneration contract with a positive revenue share and zero cost share.Cost sharing, remuneration systems, fishing
Changing rules for regulation of Icelandic fisheries
Get PDFFrom the 1950s to the mid-seventies, Iceland’s efforts in international diplomacy were largely devoted to convincing other nations that Icelanders should control and utilise the resources of the waters within 12, then 50 and finally 200 nautical miles around the island. During the last quarter of the twentieth century, Icelandic politicians have devoted considerable time and effort to the debate on how to organise the utilisation of these resources and in what way the revenues from this harvest should be distributed. This paper gives a short account of the development of regulatory reforms in four types of Icelandic fisheries. None of these reformatory processes can be said to be a replica of any of the other processes. It seems apparent on the face of things that each reformatory process is unique and distinct from the others, except in its final outcome, the rule of the ITQs. However, this conclusion may be too short sighted. From the earliest history of regulatory reforms, it is evident that the ITQ system which eventually came into being was not the intended outcome. There is a common pattern for all the fisheries, however. First of all, serious attempts to reform management practices start when the fishery has collapsed or is close to collapse. Secondly, the first thing that stakeholders do is close the club that has access to the given fishery. Thirdly, a variety of rules are implemented to allocate participation rights when the club of participants has been closed. Fourthly, prior to the invention of the ITQ system, prices were used to manage fisheries in Iceland. It may be that management of fisheries by ITQs rather than through some form of taxes or fees has historical rather than logical roots.Resource Rent Distribution, Fishery Management, Fishery regulation, Rules of Governance
Spinning out of control, Iceland in crisis
Get PDFWithin few days in October 2008 some 85% of the Icelandic bank-sector collapsed, as did the Icelandic króna. Many non-financial firms declared bankruptcy or decimated their workforce. Inflation skyrocketed as did unemployment, the other ingredient in the misery index. This paper records how well-intended policies aimed at making life easier for house-owners, people living in de-populating areas, and taxpayers turned into misfortune. The mixture of lax fiscal policy, tight monetary policy, inflation targeting, and running the smallest floating currency in the world with inadequate foreign reserves proved to be dangerous.Icelandic Bank Crisis 2008, Inflation targeting, Macroeconomic imbalance, Privatization, Overinvestment, Stock Market Collapse, Conflicting Economic Goals.
J. Peter Clinch, Kai Schlegelmilch, Rolf-Ulrich Sprenger and Ursula Triebswetter (Ed), 2002, Greening the Budget: Budgetary Policies for Environmental Improvement
No full textThe Icelandic debate on the case for a fishing fee: A non- technical introduction
Get PDFTResearch by J.D. Sachs and A.M. Warner, indicates that resource-rich countries are less successful in terms of economic growth than are resource-poor countries. The question of what measures Icelanders need to take to prevent their fishery wealth from limiting economic growth is posed. The main body of the essay discusses arguments for a fishing fee. The principal arguments for a fishing fee are listed. One type of argument concerns flexibility, with a view to possibly introducing other forms of management or altering the distribution of profit in the future. Another type of argument concerns equity and fairness, contending that having a fishing fee makes it easier to ensure that the entire nation enjoys the benefit of the resource. A third type of argument is connected to risk-management, maintaining that, if properly arranged, a fishing fee would make it possible to offer vessel operators an indirect insurance policy which otherwise would not be available to them. The fourth type of argument concerns counter-cyclical policy and the problem of co-habitation of the fishery industry and other export industries. and refers to the possibility of wage earners and/or taxpayers being forced (or tempted) to apply general policy instruments to secure a portion of the fishery rent. The general measures available to obtain a piece of the fishery rent share a common failing: their use unavoidably increases costs for other sectors of industry and thus limits possibilities for growth in those sectors and links their performance to fisheries performance. Then there are arguments for neutrality, based on the idea that so-called resource rent taxes should not affect the use of the factors of production. And finally there are economic growth arguments, which can be linked to theories of rent- seeking and Dutch diseaseResource Rent Distribution, fishing fee, Dutch disease, counter cyclical economic policy, rent seeking
Possible stakeholder conflicts in quota regulated fisheries
No full textNo abstracts are to be cited without prior reference to the author.Fishery economists and fishery scientists have forcefully argued that access to fisheries has to be restricted so as to increase stock size, harvest and/or profitability compared to what would be the results of free access. Fisheries economists have pointed out that management by Individual Transferable Quotas (ITQs for short) fare better than other systems of management considered. It is the purpose of this paper to ask what kind of resource stewardship would best serve different stakeholders in an ITQ fishery.The stakeholders in focus are quota holders, non‐quota‐holding fishing firms (skippers) and processors. It is shown, utilizing a simple model, that non‐quota holding fish firms would argue for smaller steady‐state size of the fish stock than would quota holding firms. Fishery managers may find themselvs in the line offire between the two. The final outcomemay well be decided by the political weight of either group
The Equality Multiplier
Get PDFEquality can multiply due to the complementarity between wage determination and welfare spending. A more equal wage distribution fuels welfare generosity via political competition. A more generous welfare state fuels wage equality further via its support to weak groups in the labor market. Together the two effects generate a cumulative process that adds up to an important social multiplier. We focus on a political economic equilibrium which incorporates this mutual dependence between wage setting and welfare spending. It explains how almost equally rich countries differ in economic and social equality among their citizens and why countries cluster around different worlds of welfare capitalism---the Scandinavian model, the Anglo-Saxon model and the Continental model. Using data on 18 OECD countries over the period 1976-2002 we test the main predictions of the model and identify a sizeable magnitude of the equality multiplier. We obtain additional support for the cumulative complementarity between social spending and wage equality by applying another data set for the US over the period 1945-2001.
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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