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Adaptation, Anticipation-Bias and Optimal Income Taxation
Aronsson, Thomas; Schöb, Ronnie - CESifo - 2012
Adaptation is omnipresent but people systematically fail to correctly anticipate the degree to which they adapt. This leads individuals to make inefficient intertemporal decisions. This paper concerns optimal income taxation to correct for such anticipation-biases in a framework where consumers...
Persistent link: https://www.econbiz.de/10010877881
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Green Serves the Dirtiest: On the Interaction between Black and Green Quotas
Böhringer, Christoph; Rosendahl, Knut Einar - CESifo - 2009
Tradable black (CO2) and green (renewables) quotas gain in popularity and stringency within climate policies of many OECD countries. The overlapping regulation through both instruments, however, may have important adverse economic implications. Based on stylized theoretical analysis and...
Persistent link: https://www.econbiz.de/10008533987
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Climate Change and Psychological Adaptation: A Behavioral Environmental Economics Approach
Aronsson, Thomas; Schöb, Ronnie - CESifo - 2014
Economic models of climate policy (or policies to combat other environmental problems) typically neglect psychological adaptation to changing life circumstances. People may adapt or become more sensitive, to different degrees, to a deteriorated environment. The present paper addresses these...
Persistent link: https://www.econbiz.de/10010772268
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Marginal Deadweight Loss when the Income Tax is Nonlinear
Blomquist, Sören; Simula, Laurent - CESifo - 2010
Almost all theoretical work on how to calculate the marginal deadweight loss has been done for linear taxes and for variations in linear budget constraints. This is quite surprising since most income tax systems are nonlinear, generating nonlinear budget constraints. Instead of developing the...
Persistent link: https://www.econbiz.de/10008572536
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The Standard Deviation of Life-Length, Retirement Incentives, and Optimal Pension Design
Aronsson, Thomas; Blomquist, Sören - CESifo - 2010
In this paper, we consider how the retirement age as well as a tax financed pension system ought to respond to a change in the standard deviation of the length of life. In a first best framework, where a benevolent government exercises perfect control over the individuals’ labor supply and...
Persistent link: https://www.econbiz.de/10008671698
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One-Sided Private Provision of Public Goods with Implicit Lindahl Pricing
Meier, Volker - CESifo - 2010
We consider a sequential game in which one player produces a public good and the other player can influence this decision by making an unconditional transfer. An efficient allocation requires the Lindahl property: the sum of the two (implicit) individual prices has to be equal to the resource...
Persistent link: https://www.econbiz.de/10008833913
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The Quantity Theory of Money and Friedmanian Monetary Policy: An Empirical Investigation
Hillinger, Claude; Süssmuth, Bernd; Sunder, Marco - CESifo - 2012
directly on the relationship between the rate of change of the money stock and inflation. We believe that this is an inferior … instrument for the long-run control of inflation. An important finding that contradicts all of the previous literature is that … the QTM holds for low inflation as well as for high inflation. We discuss how our findings relate to monetarism generally …
Persistent link: https://www.econbiz.de/10009653372
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The Quantity Theory of Money: An Assessment of its Real Linchpin Prediction
Hillinger, Claude; Süßmuth, Bernd - CESifo - 2010
find evidence of its linchpin prediction that is not limited to periods of high inflation. …
Persistent link: https://www.econbiz.de/10008534035
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Carbon Prices for the Next Thousand Years
Gerlagh, Reyer; Liski, Matti - CESifo - 2012
Climate is a persistent asset, bar none: changes in climate-related stocks have consequences spanning over centuries or possibly millennia to the future. To reconcile the discounting of such far-distant impacts and realism of the shorter-term decisions, we consider hyperbolic time-preferences in...
Persistent link: https://www.econbiz.de/10010554825
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Carbon Prices for the Next Hundred Years
Gerlagh, Reyer; Liski, Matti - CESifo - 2014
World income grows fast without verifiable climate-change impacts on the economy. The growth spell can end if climate impacts turn real but this can take decades to learn. We develop a tractable stochastic climate-economy model with a hidden-state impact process to evaluate the contributions of...
Persistent link: https://www.econbiz.de/10010747216