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This paper examines whether a central bank digital currency (CBDC) reinforces inefficiencies in transactions with cash. In this case, the gap between the traded quantity and the welfare-maximizing one, which arises due to discounting or a suboptimal amount of money, increases further. To get...
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This paper investigates the welfare costs of unilateral versus internationally coordinated emission permit policies in a two-country overlapping generations model with producer carbon emissions. We show that, for a net foreign debtor country, the domestic welfare costs of a unilateral domestic...
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sufficient, for constrained efficiency. We also provide restrictions on the fundamentals sufficient to guarantee that equilibria … discuss the nature of welfare improving policies. -- Human capital ; Efficiency ; Labour Supply … wohlfahrtssteigernde Politikmaßnahmen. -- Human capital ; Efficiency ; Labour Supply …
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