IN PRACTICE, fiscal policies may be ap-plied inappropriately because conventional
measures of the fiscal deficit miscalculate the public sector's true budget constraint and give …

Whatever the real or imagined ills of the economy, the news media, most politicians and a
fair proportion of the economics profession are quick to point to the culprit:“the budget …

I am especially indebted to Moses Abramovitz both for encouraging me to undertake this
article and for his detailed, insightful, and most useful comments on earlier drafts. Very …

There is no fixed stock, only a flow into current inventory, ie, reserves. Development outlay
per added unit of reserves or capacity is also a proxy for finding cost and resource rent …

This book has been updated to reflect what may be one of the biggest changes in public
lands management since multiple use: ecosystem management. The federal agency …

Eisner argues that the federal deficit as currently measured is inaccurate and misleading.
When inflation is properly accounted for, he points out, a dramatically different picture of the …

We study how much private mineral owners capture geologically-driven advantages in well
productivity through a higher royalty rate. Using proprietary data from nearly 1.8 million …

There is now a consensus in the literature on resource economics that a depletable
resource should command a price in excess of its marginal extraction cost, simply to reflect …

▪ Abstract The crude oil and natural gas markets have a long colorful history. To understand
them, one needs some economic theory. The dominant view, of a fixed mineral stock …

This paper critically reviews recent work regarding the sustainability of public debt. It argues
that Debt Sustainability Analyses (DSAs) should be more than mere mechanical simulation …