Best Selling Books by David Elliot

"The Clintons," this lavish addition to the acclaimed "Story in Photographs" series, takes a fascinating look at one of the world''s most dynamic political couples: Bill and Hillary Clinton. Through words and more than 220 images, it examines Bill''s and Hilary''s early lives, their personal and professional relationship, their tumultuous but ultimately successful marriage, and their political life. Features a foreword by "Hardball" host and John F. Kennedy biographer, Chris Matthews.

Social impact bonds (SIBs) are an innovative financing mechanism for public goods. In a SIB, an investor provides capital to a service provider for a social intervention. The investor receives a return from the government based on the outcome of the intervention relative to a predetermined benchmark. We describe the basic structure of a SIB and provide some descriptive statistics for these financial instruments. We then consider a formal model of SIBs and examine their ability to finance positive net present value projects that traditional debt finance cannot. We find that SIBs expand the set of implementable projects if governments are pessimistic (relative to the private sector) about the probability an intervention would succeed or if the government is particularly averse to paying costs associated with a project that does not generate offsetting benefits. As various public programs include both these features, we conclude that SIBs are a real innovation in public finance and should be considered for projects when traditional debt finance has been rejected.

In 2021, the Biden Administration issued mandates requiring COVID-19 vaccinations for U.S. federal employees and contractors and for some healthcare and private sector workers. Although these mandates have been subject to legal challenges and some have been halted or delayed, rigorous appraisal of their benefits and costs accompanied neither the decision to implement them nor the efforts to terminate them. This paper aims to help fill that gap. We estimate the direct costs and health-related benefits that would have accrued if these vaccination requirements had been implemented as intended. Compared with the vaccination rates observed in January 2022, we find that the mandates could have led to 15 million additional vaccinated individuals, increasing the overall proportion of the fully vaccinated U.S. population to 68%. The associated net benefits depend on the evolution of the pandemic from the time of mandate enactment--information unavailable ex ante to analysts or policymakers. In scenarios involving the emergence of a novel, more transmissible variant, against which vaccination and previous infection offer moderate protection, the estimated net benefits reach more than $16,000 per additional vaccinated individual, with more than 20,000 total deaths averted in total. In scenarios involving a fading pandemic, existing vaccination-acquired or infection-acquired immunity provides sufficient protection, and the mandates'' benefits are unlikely to exceed their costs. Thus, mandates may be most useful when the consequences of inaction are catastrophic. However, we do not compare the effects of mandates with alternative policies for increasing vaccination rates or promoting other protective measures, which may receive stronger public support and be less likely to be overturned by litigation.

We discuss and review literature on the macroeconomic effects of epidemics and pandemics since the late 20th century. First, we cover the role of health in driving economic growth and well-being and discuss standard frameworks for assessing the economic burden of infectious diseases. Second, we sketch a general theoretical framework to evaluate the tradeoffs policymakers must consider when addressing infectious diseases and their macroeconomic repercussions. In so doing, we emphasize the dependence of economic consequences on (i) disease characteristics; (ii) inequalities among individuals in terms of susceptibility, preferences, and income; and (iii) cross-country heterogeneities in terms of their institutional and macroeconomic environments. Third, we study pharmaceutical and nonpharmaceutical policies aimed at mitigating and preventing infectious diseases and their macroeconomic repercussions. Fourth, we discuss the health toll and economic impacts of five infectious diseases: HIV/AIDS, malaria, tuberculosis, influenza, and COVID-19. Although major epidemics and pandemics can take an enormous human toll and impose a staggering economic burden, early and targeted health and economic policy interventions can often mitigate both to a substantial degree.

"Biodiesel is a renewable, sustainable, clean-burning biogenic fuel that can serve as a substitute for conventional ultra-low sulfur diesel (ULSD). Biodiesel is comprised of mono-alkyl esters of long chain fatty acids and is produced via transesterification, whereby glycerin is separated from the fatty acid component of either an oil or fat. The full process yields the fatty acid methyl ester (biodiesel fuel) and glycerin, an economically valuable by-product. As part of a United States Environmental Protection Agency (EPA) Climate Showcase Communities Grant to Monroe County, New York and Rochester Institute of Technology (RIT), the Golisano Institute for Sustainability (GIS) was engaged to develop a closed-loop biodiesel production process system using the food service waste cooking oil stocks. Because the waste oil feedstock supply and fuel demand are internal within the institution, the system dynamics, economic feasibility, and environmental benefits versus the incumbent ultra-low sulfur diesel can be effectively quantified. Along with establishing quantitative metrics associated with quality of the fuel itself, the main goal of this part of a broader research program included utilizing the biodiesel fuel for campus vehicular applications. Ultimately, developing a robust waste-to-energy process within the system boundaries of the institution is the desired outcome, along with economic valuation, emissions testing, fuel quality metrics and standardization, life cycle assessment, and energy return on investment for the university''s stakeholders. Through the execution of this project, two successful biodiesel batches were produced which met American Society of Testing and Materials (ASTM) quality standards for vehicle use. Lower heating value (LHV) measurement demonstrated comparable embodied energy content to earlier published data. In addition, cloud point measurements were taken to understand the performance of the fuel in cold weather conditions, and these metrics were also consistent with published data for biodiesel fuels. Through direct measurements of exhaust gas composition, overall reductions in greenhouse gas emissions were observed in two test vehicles. However, consistent with published data, there is evidence that emissions of nitrous oxides (NOx) may be higher with a 20% biodiesel blend (B20), depending on the specific vehicle and the type of exhaust gas recirculation (EGR) valve technology employed. According to a life cycle assessment conducted on the closed-loop biodiesel production process, the cumulative energy demand (CED) was 752 MJ/100 km and the global warming potential (GWP) was 80.6 kg CO2-eq./100 km. Crude oil-based diesel contributes the most to the energy and environmental impact to the total combustion CED and GWP of a B20 fuel mixture, while the methanol component contributes the greatest energy and environmental impact to just the biodiesel component. The energy return on investment (EROI) was determined to vary depending on specific waste oil properties and processing conditions, with a value of 4.16 determined to be most representative of the developed conversion process. This demonstrates that waste cooking oil biodiesel production at RIT is net energy positive, and thus can reasonably contribute to the University''s renewable energy and GHG emissions reduction goals. The closed-loop biodiesel process also presented a compelling economic case, with a total computed cost of $3.35/gallon (including a conservative estimate for production labor) well lower than the reported national prices of B100 at retail market."-Abstract.

"Sydney Penguin is an inventor whose ideas have a habit of getting him and his friend Bill the Whale into trouble. But clever Sydney is more than capable of fixing the chaos he creates. His two classic adventures, in which he makes a machine to scare off men with clubs and harpoons, and builds a hot-air balloon to save a stranded whale, are brought together in this single volume"--Back cover.