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Kaplow, Louis - 2017

basic and ubiquitous features of regulation as actually implemented throughout the world has received little theoretical … because exemption induces additional harmful activity to be channeled their way. This article analyzes optimal regulation with … regulation, which illustrates the contrast with the mechanism design approach that analyzes the optimal use of instruments of a …

Persistent link: https://www.econbiz.de/10012453826

Economic Analysis of Law

Kaplow, Louis - 1999

This is a survey of the field of economic analysis of law, focusing on the work of economists. The survey covers the three central areas of civil law liability for accidents (tort law), property law, and contracts as well as the litigation process and public enforcement of law

Persistent link: https://www.econbiz.de/10012471847

On the Optimal Burden of Proof

Kaplow, Louis - 2012

The burden of proof is a central feature of adjudication, and analogues exist in many other settings. It constitutes an important but largely unappreciated policy instrument that interacts with the level of enforcement effort and magnitude of sanctions in controlling harmful activity. Models are...

Persistent link: https://www.econbiz.de/10012460894

Transition Policy : A Conceptual Framework

Kaplow, Louis - 2003

Legal change, whether through legislation, regulation, or court decision, is a common phenomenon, and virtually all …

Persistent link: https://www.econbiz.de/10012469102

Indicator Variables for Optimal Policy under Asymmetric Information

Svensson, Lars E.O. - 2001

The optimal weights on indicators in models with partial information about the state of the economy and forward-looking variables are derived and interpreted, both for equilibria under discretion and under commitment. The private sector is assumed to have information about the state of the...

Persistent link: https://www.econbiz.de/10012470469

Fiscal Requirements for Price Stability

Woodford, Michael - 2001

This paper argues that maintaining price stability requires not only commitment to an appropriate monetary policy rule, but an appropriate fiscal policy rule as well. 'Ricardian equivalence' does not imply that fiscal policy is irrelevant, except in the case of a certain class of policies...

Persistent link: https://www.econbiz.de/10012470657

Inflation Stabilization and Welfare

Woodford, Michael - 2001

This paper derives loss functions for monetary policy that are grounded in the welfare of private agents, for optimizing models with nominal price rigidities. Inflation stabilization enhances welfare, insofar as variable inflation results in real distortions when prices are not adjusted...

Persistent link: https://www.econbiz.de/10012470658

Indicator Variables for Optimal Policy

Svensson, Lars E.O. - 2000

The optimal weights on indicators in models with partial information about the state of the economy and forward-looking variables are derived and interpreted, both for equilibria under discretion and under commitment. An example of optimal monetary policy with a partially observable potential...

Persistent link: https://www.econbiz.de/10012470783

Monetary Policy in a World Without Money

Woodford, Michael - 2000

This paper considers whether the development of electronic money' poses any threat to the ability of central banks to control the value of their national currencies through conventional monetary policy. It argues that even if the demand for base money for use in facilitating transactions is...

Persistent link: https://www.econbiz.de/10012470890

A Framework for Assessing Estate and Gift Taxation

Kaplow, Louis - 2000

Whether and how estates and gifts should be taxed has long been a controversial subject, and the approach to estate and gift taxation varies among developed countries. Arguments for and against various forms of transfer taxation have focused on concerns about the distribution of income and...

Persistent link: https://www.econbiz.de/10012470975

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