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Activists versus Captured Regulators
Daubanes, Julien; Rochet, Jean-Charles - 2021
We analyze the consequences of activism in a regulated industry where the regulator has been captured by the industry. Unlike ordinary economic agents, activists are insensitive to monetary incentives. Moreover, they are less well informed than regulators and their actions generate dead-weight...
Persistent link: https://www.econbiz.de/10013315703
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Delegation of Regulation
Kundu, Tapas - 2017
We develop a model to discuss a government's incentives to delegate to bureaucrats the regulation of an industry. The …-based regulation policy requires the government to make use of a bureaucracy; this has a bureaucratic cost, as the bureaucracy diverts … implications for when and how a government should delegate its regulation of industry. We find that bureaucratic discretion reduces …
Persistent link: https://www.econbiz.de/10012949241
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Trade Restrictiveness Indices in Presence of Externalities : An Application to Non-Tariff Measures
Beghin, John - 2014
demand by reducing negative externalities. We apply the framework to the database of Kee et al. (2009) and derive ad valorem …
Persistent link: https://www.econbiz.de/10013046066
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Emissions Taxes and Abatement Regulation under Uncertainty
Christiansen, Vidar; Smith, Stephen - CESifo - 2013
We consider environmental regulation in a context where firms invest in abatement technology under conditions of …
Persistent link: https://www.econbiz.de/10010877925
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The Monopolistic Polluter Under Environmental Liability Law : Incentives for Abatement and R&D
Endres, Alfred - 2013
This paper analyzes the output, abatement, and investment decisions made by a monopolistic polluter under environmental liability law. The model applied considers both integrated and end-of-pipe abatement technologies. We find that in the case of fixed technology, in many instances negligence...
Persistent link: https://www.econbiz.de/10013092076
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Immigration, Fertility, and Human Capital : A Model of Economic Decline of the West
Azarnert, Leonid V. - 2011
I show how the influences of unskilled immigration, differential fertility between immigrants and the local indigenous population, and incentives for investment in human capital combine to predict the decline of the West. In particular, indigenous low-skilled workers lose from unskilled...
Persistent link: https://www.econbiz.de/10013133620
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Endogenous Growth, The Distribution of Wealth, and Optimal Policy Under Incomplete Markets and Idiosyncratic Risk
Clemens, Christiane - 2012
This paper combines the standard incomplete markets model of uninsurable idiosyncratic risks and borrowing constraints with the Arrow/Romer approach to endogenous growth to analyze the interaction of risk, growth, and inequality, the latter also endogenously determined in equilibrium. We derive...
Persistent link: https://www.econbiz.de/10013105141
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The Effects of International Financial Integration in a Model with Heterogeneous Firms and Credit Frictions
Clemens, Christiane - 2013
This paper examines the consequences of international financial integration in a two-sector heterogeneous-agent dynamic general equilibrium model of occupational choice with financial constraints and idiosyncratic risks. We discuss the macroeconomic and distributional effects of financial market...
Persistent link: https://www.econbiz.de/10013073605
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The Unfortunate Regressivity of Public Natural Hazard Insurance : A Quantitative Analysis of a New Zealand Case
Owen, Sally - 2017
Natural hazard insurance is almost always provided through public-private partnerships. Given the dominant role of the public sector, it is surprising that equity issues have not faced more scrutiny with respect to the design of hazard insurance. We provide a detailed quantification of the...
Persistent link: https://www.econbiz.de/10012951694
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Migration, Congestion and Growth
Azarnert, Leonid V. - 2017
This article analyzes the effect of migration from a less advanced economy to a more advanced economy on economic growth. The analysis is performed in a two-country growth model with endogenous fertility, in which congestion diseconomies are incorporated. The model shows that out-migration...
Persistent link: https://www.econbiz.de/10012953488