As I have argued for some time, a tax on coal exports would be effective, it would send a global price signal, and given the elasticities, it would raise revenue from a lesser volume.
In this log-log specification the estimated coefficient of the variable Rev_hosp gives the elasticity of the Caesarean section rate with respect to hospital revenue per bed.
This seems like a large effect, given the wage elasticity for low-wage workers below 0.1.
However, the return of scale in other industries were much less than one, with 0.739 in nonferrous melting industry, 0.731 in chemical material and products industry, 0.715 in instrument industry, 0.708 in timber industry, and 0.657 in gas product and supply industry, respectively, which indicated that the efficiency was lower in larger enterprises given the production elasticity of factors.
Given the low elasticity of supply and demand, it might take a pretty whopping tax to keep our grandchildren medium rare.
Given the very-low elasticity of demand for gasoline, in the short run, it could very well be profitable for a company to produce a bit less CARB gas in order to drive up prices.
Given the higher income elasticity of demand for processed products, the impact of tariff escalation on the production and trade of processed products and on rural employment could be significant.
Thus, given the values of the elasticity of intertemporal substitution of consumption estimated in the literature, we can claim that the sign of ∂ d∗/∂ p would be negative5.
The theoretical model shows that although it is not analytically possible to sign the effect of ppp on optimal migration duration, given the values of the elasticity of intertemporal substitution of consumption uncovered by the previous literature, optimal migration duration would decrease in ppp, as claimed by Stark et al. (1997) for a more specific case.
