by the Ramsey government not only increases aggregate efficiency, but it also decreases inequality. This result is in …

approach, we analyze the efficiency of education policy in Ramsey's tradition. Distortive wage taxation is shown to provide an … efficiency reason for subsidizing education in effective terms. Second-best policy is confronted with empirical evidence for OECD …

We study the efficiency of banking regulation under financial integration. Banks freely choose the jurisdiction where … to locate their activities and have private information about their efficiency level. Regulators non-cooperatively offer … regulators to discriminate between banks with different efficiency levels. This result is driven by the endogenous restriction …

providers cannot beat private providers in terms of aggregate efficiency. We finally design a transfer scheme that can make a …

We study upstream horizontal mergers and their potential efficiency gains. We show that an upstream horizontal merger … can give rise to two efficiency-enhancing effects when firms trade through two-part tariffs. It increases R&D investments … efficiency gains can overcome its anti-competitive effects in terms of welfare, we show that when firms merge usually both of the …

tax results in overprovision of the public service, while the effects of a capital tax - and thus the relative efficiency …

successors to the Kyoto protocol are assessed according to four criteria: economic efficiency; environmental effectiveness …