This paper is concerned with optimal commodity taxation in a spatial setting, represented by a monocentric urban model with homogenous people. It shows the need for an adjustment of the basic optimal taxation formulas, i.e. Ramsey (1927) and Atkinson and Stiglitz (1980), in a spatial setting and...

This paper presents (sufficient) conditions for the domestic investor/consumer to hold in equilibrium a disproportionate share of domestic assets. The analysis is carried out in a general equilibrium framework of products and assets markets, when the source of the uncertainty is productivity...

Th is article examines an individual's demand for hedging instruments (forward contracts, futures contracts, and commodity bonds) and analyzes how the demand for a hedging instrument is affected by: the instrument's price, the hedger's wealth, and the degree of risk aversion desired

[fre] Un changement de la valeur de la terre associé à un projet d'investissement peut donner, selon la littérature existante à ce sujet, une estimation faussée du vrai bénéfice social qui est une source potentielle de l'échec du marché (market failure). Cet article est consacré à...

This paper examines the properties of stationary-state general equilibrium in a monocentric city with durable housing. On the demand side, identical households choose location, housing quality and quantity (floor area), and other goods. On the supply side, developers choose the structural...

While there are many successes for students and teachers to enjoy in modern public …nance there remain some ‘awkward moments’ — moments when, you, the student or the teacher, would prefer to be somewhere other than the classroom. This essay discusses three of these ‘moments’ and...