Economy

Preferential Trade and Welfare with Differentiated Products

February 7, 2011

We consider analytically and numerically the welfare tradeoffs inherent in a preferential trade area (PTA) with products differentiated by region of origin. For a small open economy in such a setting, welfare gains are associated with higher trade volumes within the PTA. However, welfare losses are induced by declining tariff revenues on trade with nonmember […]

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The Impact of Civil Unions on Hawaii’s Economy and Government

This report provides quantitative and qualitative measures of the impact of same-sex civil unions on the Hawai`i economy, Hawai`i businesses, and the State of Hawai`i’s budget. More specifically, we examine the effect of civil unions on tourism arrivals to Hawai`i; state government revenues and expenditures; employer provision of health insurance to civil union partners and […]

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Construction Forecast: Rail Construction Will Spur Industry Pick-Up

February 4, 2011

Private construction has largely stabilized in the islands and poised for limited growth. But the big impetus for construction on Oahu will come from rail transit.

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UHERO Brief: Honolulu Rail Transit: Do the Benefits Justify the Costs?

January 31, 2011

Preliminary considerations suggest a high degree of uncertainty about whether the benefits of rail justify the costs. As the conversation about rail costs advances, we should continue to consider the relative size of the benefits.

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Honolulu Rail Transit: Do the Benefits Justify the Costs?

Preliminary considerations suggest a high degree of uncertainty about whether the benefits of rail justify the costs. As the conversation about rail costs advances, we should continue to consider the relative size of the benefits.

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UHERO Executive Director Carl Bonham serves on President M.R.C. Greenwood’s Innovation Council

January 13, 2011

UHERO Executive Director Dr. Carl Bonham participated in a panel at an innovation symposium on Jan 13. The panel’s findings indicate that the University of Hawaiʻi and the state have a significant strategic advantage to turn already-robust research efforts into increased job opportunities for Hawaiʻi and the nation. The report, presented for public input and review, […]

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State Forecast Update: Hawaii’s Two-Speed Recovery

December 10, 2010

Recovery edges forward in the Islands, for now primarily in tourism and mostly on Oahu. But the very rapid tourism rebound will begin to spill over to the rest of the economy in 2011.

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The Employment Effects of Fiscal Policy: How Costly Are ARRA Jobs

December 7, 2010

The American Recovery and Reinvestment Act was intended to stimulate the U.S. economy and to create jobs. But at what cost? In this paper, we discuss the range of potential benefits and costs associated with counter-cyclical fiscal policy. Benefits and costs may be social, macroeconomic, structural, and budgetary. They may depend importantly on timing and […]

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Global Economic Forecast: World Recovery Falters

December 3, 2010

Global economic recovery is proceeding, but in an uneven fashion. The developing Asian countries that were the first to show signs of life last year continue to expand at a healthy pace, driven by rebounding trade but also by strong domestic demand. 

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