R. G. Newell

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Recent studies find that environmental tax swaps typically exacerbate the costs of the tax system and therefore do not produce a " double dividend ". We extend previous models by incorporating tax-favored consumption goods (e.g. housing, medical care). In this setting, the efficiency gains from recycling environmental tax revenues are larger because(More)
In 2007, the Centers for Medicaid and Medicare Services (CMS) created a novel payment program to create incentives for physician's to focus on quality of care measures and report quality performance for the first time. Initially termed "The Physician Voluntary Reporting Program," various Congressional actions, including the Tax Relief and Health Care Act of(More)
Small island economies are almost entirely dependent on petroleum-based products as the fuel stock for power generation. This dependency places a significant burden on economic growth with up to 30% of GDP attributable to importing oil along with accompanying environmental concerns. This paper focuses on the U.S. Virgin Islands (USVI) and considers(More)
for assistance in the preparation of this manuscript. We remain responsible for all remaining errors The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject(More)
It is often noted that energy prices are quite volatile, reflecting market participants' adjustments to new information from physical energy markets and/or markets in energy-related financial derivatives. Price volatility is an indication of the level of uncertainty, or risk, in the market. This paper describes how markets price risk and how the(More)
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