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Macroeconomics after the crisis – hedgehog or fox?

Miller, Marcus; Zhang, Lei - C.E.P.R. Discussion Papers - 2014

‘pecuniary externalities’. Two that affect borrowers and lenders balance sheets in pro-cyclical fashion are described, along with … measures that might help curb their destabilising effects. These ‘pecuniary externalities’ can be thought of as the unintended … Greenwald and Stiglitz (1986) – that when externalities are present, leaving things to the market may not be ‘constrained Pareto …

Persistent link: https://www.econbiz.de/10011083632

Optimal Fines in the Era of Whistleblowers

Buccirossi, Paolo; Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2006

We review current methods for calculating fines against cartels in the US and EU, and simulate their deterrence effects under different assumptions on the legal and economic environment. It is likely that European fines have not had significant deterrence effects before leniency programs were...

Persistent link: https://www.econbiz.de/10005136460

Second-Best Carbon Taxation in the Global Economy: The Green Paradox and Carbon Leakage Revisited

van der Ploeg, Frederick - C.E.P.R. Discussion Papers - 2015

Unilateral second-best carbon taxes are analysed in a two-period, two-country model with international trade in final goods, oil and bonds. Acceleration of global warming resulting from a future carbon tax is large if the price elasticities of oil demand are large and that of oil supply is...

Persistent link: https://www.econbiz.de/10011262885

Can Equity Enhance Efficiency? Some Lessons from Climate Negotiations

Bosello, Francesco; Buchner, Barbara; Carraro, Carlo; … - C.E.P.R. Discussion Papers - 2003

This Paper analyses the relationship between different equity rules and the incentives to sign and ratify a climate agreement. A widespread conjecture suggests that a more equitable distribution of the burden of reducing emissions would enhance the incentives for more countries – particularly...

Persistent link: https://www.econbiz.de/10005136584

A Green Light for Environment, or a Green Light for Protection? The EU-US Dispute Over US Corporate Average Fuel Economy Regulations

Francois, Joseph; Nordström, Håkan - C.E.P.R. Discussion Papers - 1996

The US Corporate Average Fuel Economy (CAFE) regulation mandates, subject to a civil penalty, producers to achieve a certain fleet average fuel economy on sales of new passenger cars. Analysing the incentive effects of CAFE, we find that it affords differential tax treatment to car models with...

Persistent link: https://www.econbiz.de/10005504591

The Political Economy of Coal Subsidies in Europe

Anderson, Kym - C.E.P.R. Discussion Papers - 1995

Both the mining and the burning of coal is pollutive, so one might expect to observe taxes on coal production and consumption. Yet several countries in Western Europe subsidize coal production, and most East European countries subsidize coal consumption. The first part of this paper shows that...

Persistent link: https://www.econbiz.de/10005504664

Climate Tipping and Economic Growth: Precautionary Saving and the Social Cost of Carbon

Zeeuw, Aart J. de; van der Ploeg, Frederick - C.E.P.R. Discussion Papers - 2014

The optimal reaction to a pending productivity shock of which the expected arrival time increases with global warming is to accumulate more precautionary capital to smooth consumption and to levy a carbon tax, proportional to the marginal hazard of a catastrophe, to curb the risk of climate...

Persistent link: https://www.econbiz.de/10011084431

The Tobacco Deal

Bulow, Jeremy I.; Klemperer, Paul - C.E.P.R. Discussion Papers - 1999

We analyse the major economic issues raised by the 1997 Tobacco Resolution and the ensuing proposed legislation that were intended to settle tobacco litigation in the United States. By settling litigation largely in return for tax increases, the Resolution was a superb example of a "win-win"...

Persistent link: https://www.econbiz.de/10005791442

An Economic Analysis of Australian Damage Remedies for Misleading Prospectuses: Trade Practices Act vs. Corporations Law

Pitchford, R. - Research School of Economics, College of Business and … - 1997

Laws that address damages caused by deceptive or misleading prospectuses impact on the incentive issuers face to create such prospectuses, and hence impact on the level of investment. In Australia, it has been proposed to shift from a strict liability regime under s52 of the Trade Practices Act,...

Persistent link: https://www.econbiz.de/10004971400

Decomposing U.S. Water Use Since 1950. Is the U.S. Experience Replicable?

Debaere, Peter; Kurzendoerfer, Amanda - C.E.P.R. Discussion Papers - 2015

Water use in the U.S. has followed a remarkable pattern since 1950, not mimicking the almost uninterrupted 110 percent increase in the size of the U.S. population, the relatively steady 570 percent growth in real GDP, and the 220 percent improvement in per capita GDP. After doubling between 1950...

Persistent link: https://www.econbiz.de/10011272709

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