Price Discovery in Emissions Permit Auctions

Auctions are increasingly being used to allocate emissions allowances (“permits”) for cap and trade and common-pool resource management programs. These auctions create thick markets that can provide important information about changes in current market conditions. This paper reports a laboratory experiment in which half of the bidders experienced unannounced increases in their willingness to pay for permits.

So You Want to Create a Job ...

Bill Shobe's presentation to the April 29th Richmond Association for Business Economics Jobs Summit outlines some of the economic fundamentals that determine what power the governor has to create jobs.  Not surprisingly, it's rarely as simple as the job creation press releases make out.

Economic Implications of an Aging Community

This presentation was made at the Region 2000 Summit on Age Wave Planning at Lynchburg College on November 20, 2009.  It highlights regional characteristics of aging in Virginia over the period 1980-2030, reviews recent economic and planning literature concerned with the regional economic and fiscal impacts of aging, and reports the results of economic simulations of state and Region 2000 aging using REMI PI+ and IMPLAN.