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Deadweight Costs and the Size of Government

Becker, Gary S. - 1998

We provide a model for analyzing effects of the tax system and spending programs on the determination of government spending and taxpayer welfare and show that tax system or spending program which is suboptimal from a Ramsey point of view can improve taxpayer welfare because the system creates...

Persistent link: https://www.econbiz.de/10012472024

Electoral Incentives and the Allocation of Public Funds

Finan, Frederico - 2016

It is widely believed that politicians allocate public resources in ways to maximize political gains. But what is less clear is whether this comes at a cost to welfare; and if so, whether alternative electoral rules can help reduce these costs. In this paper, we address both of these questions by...

Persistent link: https://www.econbiz.de/10012456813

Local Carbon Policy

Cruz, José-Luis; Rossi-Hansberg, Esteban - National Bureau of Economic Research - 2022

We study local carbon policy to address the consequences of climate change. Standard analysis suggests that the social cost of carbon determines optimal carbon policy. We start by using the spatial integrated assessment model in Cruz and Rossi-Hansberg (2021) to measure the local social monetary...

Persistent link: https://www.econbiz.de/10013210055

Which Social Cost of Carbon? A Theoretical Perspective

Kotchen, Matthew J. - 2016

This paper develops a theoretical foundation for the social cost of carbon (SCC). The model highlights the source of debate over whether countries should use the global or domestic SCC for regulatory impact analysis. I identify conditions under which a country's decision to internalize the...

Persistent link: https://www.econbiz.de/10012456430

An Assessment of the Energy-Efficiency Gap and its Implications for Climate-Change Policy

Gerarden, Todd D. - 2015

Improving end-use energy efficiency--that is, the energy-efficiency of individuals, households, and firms as they consume energy--is often cited as an important element in efforts to reduce greenhouse-gas (GHG) emissions. Arguments for improving energy efficiency usually rely on the idea that...

Persistent link: https://www.econbiz.de/10012457761

Leakage, Welfare, and Cost-Effectiveness of Carbon Policy

Baylis, Kathy - 2013

We extend the model of Fullerton, Karney, and Baylis (2012 working paper) to explore cost-effectiveness of unilateral climate policy in the presence of leakage. We ignore the welfare gain from reducing greenhouse gas emissions and focus on the welfare cost of the emissions tax or permit scheme....

Persistent link: https://www.econbiz.de/10012459763

Monetary Easing, Leveraged Payouts and Lack of Investment

Acharya, Viral V. - 2019

, potentially spurring productive investment. Low interest rates, however, also induce entrepreneurs to lever up so as to increase … their incentives thereby lowering productivity and discouraging investment. If leverage is unregulated (for example, due to … payouts by stimulating investment in response to adverse shocks only up to a level below the first-best. The optimal monetary …

Persistent link: https://www.econbiz.de/10012480414

An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output

Blanchard, Olivier - 1999

increases in government spending have a strong negative effect on investment spending …

Persistent link: https://www.econbiz.de/10012471521

Climate Change and Long-Run Discount Rates : Evidence from Real Estate

Giglio, Stefano - 2015

The optimal investment to mitigate climate change crucially depends on the discount rate used to evaluate the … investment's uncertain future benefits. The appropriate discount rate is a function of the horizon over which these benefits … accrue and the riskiness of the investment. In this paper, we estimate the term structure of discount rates for an important …

Persistent link: https://www.econbiz.de/10012456904

Jump Starting the Euro Area Recovery : Would a Rise in Core Fiscal Spending Help the Periphery?

Blanchard, Olivier - 2015

We show that a fiscal expansion by the core economies of the euro area would have a large and positive impact on periphery GDP assuming that policy rates remain low for a prolonged period. Under our preferred model specification, an expansion of core government spending equal to one percent of...

Persistent link: https://www.econbiz.de/10012457242

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