INFORMATION DISCLOSURE POLICIES: EVIDENCE FROM THE ELECTRICITY INDUSTRY

While theory suggests that information programs may correct market failures and improve welfare, the empirical impacts of these policies remain undetermined. We show that mandatory disclosure programs in the electricity industry achieve stated policy goals. We find that the proportion of fossil fuels decreases, and the proportion of clean fuels increases in response to disclosure programs. However, the programs may produce unintended consequences. For example, programs may make “clean” firms cleaner, while leaving “dirty” firms relatively unchanged. If the marginal benefits of pollution abatement are larger at dirty firms than at clean firms, disclosure programs may induce inefficient abatement allocations. (JEL D83, Q58, D21)     

Introduction thématique à la Iittérature latino-américaine

Latin-american literature during the past twenty years has enjoyed a success which goes beyond its regional setting. Most assuredly, this success is a function of its artistic merit. At the same time, in a continent where freedom of expression is seldom found artistic creativity is not simply an exclusive function of esthetic considerations. In addition, it can become a substitute for political language and debate. These symbolic narratives therefore represent an instrument for the analysis of Lation-aimerican reality. The present study considers literature in this context.
La littérature latino-américaine des vingt dernières années a connu un succès qui dépasse largement le cadre régional. Certes, ce succès correspond à sa valeur artistique. Mais dans un continent où la liberté d'expression constitue une pratique peu courante, la créativité cesse d'être un simple moyen de diffusion esthétique. Elle devient forcément un substitut du langage politique. Les récits symboliques représentent alors un instrument pour l'analyse de la réalité latino-américaine, des idéologies qui s'y affrontent et des formes sémantiques qui les véhiculent. Le présent travail est proposé dans la perspective de cette analyse.     

LEARNING BUT NOT EARNING? THE IMPACT OF JOB CORPS TRAINING ON HISPANIC YOUTH

Why did Hispanics who participated in Job Corps (JC) training not experience earnings gains like whites and blacks, despite achieving similar human capital gains? We find that the differential labor market outcomes of each group are related to the different levels of local labor market unemployment rates (LUR) they face. Furthermore, the groups exhibit differential impacts on their earnings from the LUR they face, which also vary by randomization status. We find that (a) blacks and Hispanics face higher LUR that mitigate their potential gains from JC and (b) JC “shields” whites from adverse LUR, but not blacks and Hispanics. (JEL J24, J13, J15)