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Pricing the Ecosystem and Taxing Ecosystem Services : A General Equilibrium Approach

Eichner, Thomas; Pethig, Rudiger - 2021

In an integrated dynamic general equilibrium model of the economy and the ecosystem humans and wildlife species compete for land and prey biomass. We introduce a competitive allocation mechanism in both submodels such that economic prices and ecosystem prices guide the allocation in the economy...

Persistent link: https://www.econbiz.de/10013317058

Investor Protection and Foreign Stakeholders

Giofré, Maela - 2014

Different investor classes are endowed with different rights, and conflicting interests among them can make protections afforded to one party detrimental to another. Indeed, we find that investor protection laws have sizeable "cross" effects on foreign portfolio investment and the direction of...

Persistent link: https://www.econbiz.de/10013069664

How Large are Global Energy Subsidies?

Coady, David P. - 2016

This paper estimates fossil fuel subsidies and the economic and environmental benefits from reforming them, focusing mostly on a broad notion of subsidies arising when consumer prices are below supply costs plus environmental costs and general consumption taxes. Subsidies are $4.9 trillion...

Persistent link: https://www.econbiz.de/10012994355

Stakeholder Governance, Competition and Firm Value

Allen, Franklin - 2014

In many countries, the legal system or social norms ensure that firms are stakeholder oriented. We analyze the … advantages and disadvantages of stakeholder-oriented firms that are concerned with employees and suppliers compared to … shareholder-oriented firms in a model of imperfect competition. Stakeholder firms are more (less) valuable than shareholder firms …

Persistent link: https://www.econbiz.de/10013057260

Implementation of Communication Equilibria by Correlated Cheap Talk : The Two-Player Case

Vida, Peter - 2011

We show that essentially every communication equilibrium of any finite Bayesian game with two players can be implemented as a strategic form correlated equilibrium of an extended game, in which before choosing actions as in the Bayesian game, the players engage in a possibly infinitely long (but...

Persistent link: https://www.econbiz.de/10013128960

Ageing, Government Budgets, Retirement, and Growth

Gonzalez-Eiras, Martín - 2011

We analyze the short and long run effects of demographic ageing - increased longevity and reduced fertility - on per-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital deepening, and indirect effects, working through...

Persistent link: https://www.econbiz.de/10013129861

Emotions in Litigation Contests

Baumann, Florian - 2011

This paper introduces the concept of emotions into the standard litigation contest. Positive (negative) emotions emerge when litigants win (lose) at trial and are dependent in particular on the level of defendant fault. Our findings establish that standard results of litigation contests change...

Persistent link: https://www.econbiz.de/10013129864

Commodity Tax Structure Under Uncertainty in a Perfectly Competitive Market

Goerke, Laszlo - 2011

In a partial equilibrium setting without price uncertainty, the balanced-budget substitution of an ad valorem tax on output for a specific (unit) tax can enhance welfare in imperfectly competitive markets and is without impact in a competitive world. This paper demonstrates that a substitution...

Persistent link: https://www.econbiz.de/10013130099

Strategic Nonlinear Income Tax Competition with Perfect Labor Mobility

Bierbrauer, Felix J. - 2011

Tax competition between two governments who choose nonlinear income tax schedules to maximize the average utility of its residents when skills are unobservable and labor is perfectly mobile is examined. We show that there are no Nash equilibria in which there is a skill type that pays positive...

Persistent link: https://www.econbiz.de/10013130417

Shall We Keep the Highly Skilled at Home? The Optimal Income Tax Perspective

Simula, Laurent - 2011

We examine how allowing individuals to emigrate to pay lower taxes abroad changes the optimal non-linear income tax scheme in a Mirrleesian economy. An individual emigrates if his domestic utility is less than his utility abroad net of migration costs, utilities and costs both depending on...

Persistent link: https://www.econbiz.de/10013130418

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