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The Social Cost of Carbon and the Ramsey Rule
Withagen, Cees - 2019
The objective of this paper is to critically assess the use of simple rules for the social cost of carbon (SCC) that employ a rudimentary form of the Ramsey Rule. Two interrelated caveats apply. First, if climate change poses a serious problem, it is hard to justify an exogenous constant growth...
Persistent link: https://www.econbiz.de/10012892228
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Urban Specialisation; from Sectoral to Functional
Gervais, Antoine; Markusen, James R.; Venables, Anthony J. - 2021
combines elements of the literatures on economic geography, multinational firms, urban economics, and trade theory. A two …
Persistent link: https://www.econbiz.de/10013250045
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Welfare Losses of Road Congestion
Russo, Antonio - 2019
We estimate the marginal external congestion cost of motor-vehicle travel for Rome, Italy, using a methodology that accounts for hypercongestion (a situation where congestion decreases a road’s throughput). We show that the external cost – even when roads are not hypercongested...
Persistent link: https://www.econbiz.de/10012867018
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Rational Drivers and the Choice between Congestion Tolls and Tradeable Permits : A Political Economy Model
Borger, Bruno De; Glazer, Amihai; Proost, Stef - 2021
related to the introduction of congestion policies, focusing on tradeable driving permits and congestion tolls. We have the … congestion tolls in that they avoid strategic behavior once the system is implemented. In contrast, with congestion tolls the … congestion tolls as long as they receive a sufficient share of the permits for free …
Persistent link: https://www.econbiz.de/10013250739
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Trade Costs and Strategic Investment in Infrastructure in a Dynamic Global Economy with Symmetric Countries
Yanase, Akihiko; Van Long, Ngo - 2021
This paper develops a two-country model of intraindustry trade with trade costs, which can be reduced by public investment in an international infrastructure capital, the stock of which accumulates over time. Depending on the trade costs and international distribution of manufacturing firms,...
Persistent link: https://www.econbiz.de/10013314918
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Robots and Firms
Koch, Michael - 2019
We study the implications of robot adoption at the level of individual firms using a rich panel data-set of Spanish manufacturing firms over a 27-year period (1990-2016). We focus on three central questions: (1) Which firms adopt robots? (2) What are the labor market effects of robot adoption at...
Persistent link: https://www.econbiz.de/10012871754
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The Costs and Benefits of Rules of Origin in Modern Free Trade Agreements
Ornelas, Emanuel; Turner, John L. - 2022
We study the welfare impact of rules of origin in free trade agreements where final-good producers source customized inputs from suppliers within the trading bloc. We employ a property-rights framework that features hold-up problems in suppliers’ decisions to invest, and where underinvestment...
Persistent link: https://www.econbiz.de/10014077185
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Priority Roads : The Political Economy of Africa's Interior-to-Coast Roads
Bonfatti, Roberto - 2019
Africa’s interior-to-coast roads are well suited to export natural resources, but not to support regional trade. Are they the optimal response to geography and comparative advantage, or the result of suboptimal political distortions? We investigate the political determinants of road paving in...
Persistent link: https://www.econbiz.de/10012892107
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Why uncertainty matters: Discounting under intertemporal risk aversion and ambiguity
Traeger, Christian - 2012
Uncertainty has an almost negligible impact on project value in the economic standard model. I show that a comprehensive evaluation of uncertainty and uncertainty attitude changes this picture fundamentally. The analysis relies on the discount rate, which is the crucial determinant in balancing...
Persistent link: https://www.econbiz.de/10010280817
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The life satisfaction approach to environmental valuation
Frey, Bruno S.; Luechinger, Simon; Stutzer, Alois - 2009
In many countries environmental policies and regulations are implemented to improve environmental quality and thus individuals’ well-being. However, how do individuals value the environment? In this paper, we review the Life Satisfaction Approach (LSA) representing a new non-market valuation...
Persistent link: https://www.econbiz.de/10010273798