Policies affecting the cost of energy use provide correct incentives for technology choices only if there is a market reward for energy efficiency. We provide clean evidence for market efficiency by considering how heating technologies capitalize into house values using detailed Finnish register...

This paper provides an overview of the role that forestry activities play in mitigating climate change. The emphasis is on a comparison of carbon offset credits and a carbon tax/subsidy scheme for incentivizing reductions in the release of CO2 emissions and increase in sequestration of...

Using an intertemporal model of saving and capital accumulation we demonstrate that it is impossible for any binding minimum wage to increase the after-tax incomes of workers if the production function is Cobb-Douglas with constant returns to scale, or if there are no differences in ability...

Future market developments determine the fate of fossil fuel carbon currently conserved unilaterally. Dynamic fuel depletion naturally suggests leakage rates approaching 100%. Reasons for lower leakage differ from what limits rates in previous studies. Discounting reduces present-value leakage...

This paper analyzes long run outcomes resulting from adopting a binding minimum wage in a neoclassical model with perfectly competitive labour markets and capital accumulation. The model distinguishes between workers of heterogeneous ability and capitalists who do all the saving, and it entails...