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Ms. White examines various policies that might persuade drivers to adopt such changes, including changes in liability rules, traffic rules and insurance rules.
With touchstone issues like death penalty challenges, school financing and changes in liability laws hanging in the balance, contests for state judgeships around the country have become bruising multimillion-dollar political affairs that critics say are threatening the independence of the nation's state courts.
Using the universe of administrative filings in Rwanda, I document perverse responses to changes in liability: an income tax reform that standard models would predict should lead all taxpayers to pay lower taxes in fact caused firms to increase tax paid by 75%.
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WITH the July 1 deadline for action approaching, members of the State Senate and Assembly are trying to reach some compromise on Governor Kean's $9.3 billion state budget and working on other major bills, including changes in liability-insurance laws and a constitutional amendment to allow voters to directly affect state law.
The Democrats said they would try again to enact the change in liability law.
The trend in private-sector indebtedness moves very closely with the trend in America's current-account balance.I've taken the private-sector indebtedness figure Mr Krugman uses and shown the quarterly change in liabilities alongside the quarterly current-account figure (both are in billions of current dollars).
In our hypothetical example there is no change in liabilities.
In other words, the prices of financial instruments are flexible and adjust to grant the perfect competitiveness of financial markets, where the flows originated by changes in demand for financial instruments generate a similar change in liabilities (supply) of those instruments.
Reacting to what many see as "crises" brought on by courts extending liability too far, state legislatures have enacted breathtakingly large numbers of changes in products liability law, ranging from the trivial to the drastic to the Draconian.
Finally, Croley and Hanson argue that recent changes in commercial liability insurance and consumer product markets may well represent the desirable consequences of efficient changes in products liability law.
The third involves comprehensive changes in medical liability laws, the fourth a return to the way medicine used to be practiced and the fifth a re-evaluation of issues of ethics and cost-effectiveness.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com