externalities appear along the lifecycle. In a simple model, we show that it may be efficient to subsidize innovative firms in their … early stages or to protect mature firms from competition to appropriate these externalities. However, non …-benevolent politicians may not choose efficient policies. Real-world examples indicate that politicians tend to concentrate on externalities …

dynamics and vice versa (electoral externalities). We quantify the extent of simultaneous electoral externalities between two … vice versa. Externalities account for around 10% to 30% of variation at the other level of government. The effects differ … across parties. Electoral externalities are less pronounced for the conservative party, but increase in times of government …

federation, we show that vertical fiscal externalities can be the major determinant of the welfare change following environmental … externalities -- state governments can reduce greenhouse gas emissions by over 20 percent without any net cost to themselves …

demand by reducing negative externalities. We apply the framework to the database of Kee et al. (2009) and derive ad valorem …