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Part of a series which focuses on research into labour economics, this volume explores such topics as growth and labour mobility, public policies and the working poor, the structure and consequences of eligibility rules for a social programme, and testing job search models.
The 5th Amendment to the Constitution prohibits the government from taking private property for public use without paying the owner just compensation. Some owners allege that the gov't's. regulations have effectively taken their property -- by restructuring the ways in which they can use it -- & that they should be compensated. Chapters: regulatory takings: the status " increasing access to compensation; increasing access to fed. courts & encouraging settlements; augmenting requirements for agency takings analyses; paying compensation awards from agency budgets; estimating the cost of expanding eligibility for compensation. Charts & tables.
Modern international investment agreements have challenged the customary exclusion of public good regulations from being considered government 'takings' subject to compensation rules. Full compensation for regulatory takings can, however, lead to over-investment and excessive entry in risky industries. An alternative is to 'carve-out' apparently efficient regulation from compensation requirements. We design a carve-out/compensation rule that induces efficient regulation and firm-level investment even when the regulator suffers fiscal illusion and has private information about the social benefit from regulation. We also show that a carve-out reduces the subsidy to risky industry implicit in compensation rules, and thus mitigates the entry problem.
The Economics of Eminent Domain: Private Property, Public Use, and Just Compensation presents an overview of the economics of eminent domain. Beginning with a brief review of the relevant case law for both physical acquisitions and for regulatory takings, the authors survey the economics literature examining eminent domain.
This book is the first large-scale effort devoted to this controversial issue, providing a vast platform of comparative knowledge on direct, indirect, categorical, and partial takings. Written for legal professionals, academics, urban and regional planners, real estate developers, and civil-society groups, the book analyzes thirteen advanced economy countries representing a variety of legal regimes, institutional structures, cultures, geographic sizes, and population densities.
This law school study aid contains the history and cases related to the Takings Clause of the United States Constitution. The authors bring their long-time teaching experience to this important area.
The efficacy of various political institutions is the subject of intense debate between proponents of broad legislative standards enforced through litigation and those who prefer regulation by administrative agencies. This book explores the trade-offs between litigation and regulation, the circumstances in which one approach may outperform the other, and the principles that affect the choice between addressing particular economic activities with one system or the other. Combining theoretical analysis with empirical investigation in a range of industries, including public health, financial markets, medical care, and workplace safety, Regulation versus Litigation sheds light on the costs and benefits of two important instruments of economic policy.
Law and Economics deals with the economic analysis of legal relations, legal provisions, laws and regulations and is a research field which has a long tradition in economics. It was lost after the expulsion of some of the leading economists from Germany during 1933 to 1938, but then revived in Chicago. Both the subject of Law of Economics and the need for a concise Encyclopedia is particularly relevant in Europe today. Currently in the European Union there are several different legal cultures: the Anglo-Saxon legal framework, the German legal framework, which for example also includes Greece, and the Roman legal family—three jurisdictions which have to be covered with one and the same theory. In the EU, the task of the European Commission to interact with the various European jurisdictions means different legal cultures collaborating and some degree of harmonization is necessary. The result is an immediate need, if only for the science, to show how a given problem is solved in each legal tradition and jurisdiction. This Encyclopedia provides both a common language and precise definitions in the field, which will be useful in the future to avoid misunderstandings during harmonization of EU Law