-consistent policy rules that implement the stochastic first best as long as a future market exists. We apply our theory to carbon …

In this paper, we study regulation of externalities involving many small-scale polluters, where the damages from …

externalities via the interest rate. Conditional on differences in the processes determining household earnings for distinct groups … in the population, these savings externalities may contribute to inequality. Working with an open economy heterogenous … earnings processes of British households with university and non-university educated heads entail savings externalities that …

. To identify the reasons for this insufficient implementation in the past decade the Public Choice theory is used. The …

individual regions voluntarily commence international negotiations on public good provision, which are accompanied by side … based on the ideas of Coasean negotiations and Pigouvian taxes. As it is implementable for a wide class of Nash solutions …

We investigate externalities in higher education enrollment over the course of development in a two-sector model. Each … acquiring human capital. Both sectors exhibit productivity externalities in the size of the skill-specific labor and in the …