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Strategic Judgment Proofing
Che, Yeon-Koo - 2008
A liquidity-constrained entrepreneur needs to raise capital to finance a business activity that may cause injuries to third parties -- the tort victims. Taking the level of borrowing as fixed, the entrepreneur finances the activity with senior (secured) debt in order to shield assets from the...
Persistent link: https://www.econbiz.de/10012464464
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The Impact of Pollution Abatement Investment on Productivity Change : AnEmpirical Comparison of the U.S., Germany, and Canada
Conrad, Klaus - 1985
and Germany, and thereby assess the impact of increased pollution abatement capital regulation on productivity growth. Our … expenses incurred to satisfy these regulations, such as investment in pollution abatement capital, is unproductive in terms of … paper we construct a model which explicitly recognizes the difference between pollution abatement capital and "productive …
Persistent link: https://www.econbiz.de/10012477316
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Tax and Subsidy Combinations for the Control of Car Pollution
Fullerton, Don - 2000
Despite technological advances, an individual car's emissions still cannot be measured reliably enough to impose a Pigovian tax. This paper explores alternative market incentives that could be used instead. We solve for second-best combinations of uniform taxes on gasoline, engine size, and...
Persistent link: https://www.econbiz.de/10012470976
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Controlling Stocks and Flows to Promote Quality : The Environment, With Applications to Physical and Human Capital
Keohane, Nathaniel O. - 2000
Our analysis melds two traditional approaches to promoting quality. The first is restoring the stock of quality. The second is curbing its flow of deterioration. Although both approaches are widely used in real world settings, analytic models have tended to focus on one strategy or the other. We...
Persistent link: https://www.econbiz.de/10012471023
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The Effects of Environmental Policy on the Performance of Environmental RIVs
Katsoulacos, Yannis - 1999
pollution are low. In this case RJVs fully share information and internalize the associated externality. However when the level …
Persistent link: https://www.econbiz.de/10012471483
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Regulation Versus Taxation
Alesina, Alberto F. - 2010
We study which policy tool and at what level a majority chooses in order to reduce activities with negative externalities. We consider three instruments: a rule, that sets an upper limit to the activity which produces the negative externality, a quota that forces a proportional reduction of the...
Persistent link: https://www.econbiz.de/10012462243
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Regulatory Choice with Pollution and Innovation
Kolstad, Charles D. - 2010
technologies which reduce the cost of pollution abatement. The innovating firm can patent this innovation and use a licensing fee … a pollution tax or a marketable permit. However, the returns to the innovator from innovation are not the same under the …
Persistent link: https://www.econbiz.de/10012462354
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The Corrective Tax versus Liability As Solutions to the Problem of Harmful Externalities
Shavell, Steven - 2010
harmful externalities, its actual use has been limited, mainly to the domain of pollution. Liability, in contrast, has great … importance in controlling harmful externalities. I compare the tax and liability here in theory and suggest that the conclusions … help to explain the observed predominance of liability over taxation, except in the area of pollution. The following …
Persistent link: https://www.econbiz.de/10012462420
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Corrective Taxation versus Liability
Shavell, Steven - 2010
Taxation and liability are compared here as means of controlling harmful externalities. It is emphasized that liability has an advantage over taxation: inefficiency of incentives arises under taxation when, as would be typical, it would be impractical for a tax to reflect all variables that...
Persistent link: https://www.econbiz.de/10012462421
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GHG Targets as Insurance Against Catastrophic Climate Damages
Weitzman, Martin L. - 2010
A critical issue in climate-change economics is the specification of the so-called "damages function" and its interaction with the unknown uncertainty of catastrophic outcomes. This paper asks how much we might be misled by our economic assessment of climate change when we employ a conventional...
Persistent link: https://www.econbiz.de/10012462520