Showing 1 - 10 of 19
A small open economy produces a consumer good, green and black energy, and imports fossil fuel at an uncertain price. Unregulated competitive markets are shown to be inefficient. The implied market failures are due to the agents' attitudes toward risk, to risk shifting and the uniform price for...
Persistent link: https://www.econbiz.de/10003969720
productive efficiency, in the public sector. We focus on reforms aiming to establish parity between work conditions in the public …
Persistent link: https://www.econbiz.de/10010477149
We study the incidence of carbon-reduction and green-energy promotion policies in an open fossil-fuel importing general equilibrium economy. The focus is on mixed price-based or quantity-based policies. Instruments directed toward promoting green energy are shown to reduce also carbon emissions...
Persistent link: https://www.econbiz.de/10003872440
energy from fossil fuels by subsidizing green energy, although in our model green energy promotion is not efficiency …
Persistent link: https://www.econbiz.de/10003974681
by the Ramsey government not only increases aggregate efficiency, but it also decreases inequality. This result is in … contrast to common view and policy practice. -- user fees ; Ramsey taxation ; efficiency ; inequality …
Persistent link: https://www.econbiz.de/10009571131
government share in GDP; and as a measure of government efficiency, we construct an index by following the methodology of Afonso … efficiency. Specifically, while a larger size of government is bad for incentives when one ignores efficiency, the results change … drastically when government efficiency is also taken into account. Only when our measure of size exceeds our measure of efficiency …
Persistent link: https://www.econbiz.de/10002746122
providers cannot beat private providers in terms of aggregate efficiency. We finally design a transfer scheme that can make a …
Persistent link: https://www.econbiz.de/10009130257
This paper incorporates an uncoordinated struggle for extra fiscal favors into an otherwise standard Dynamic Stochastic General Equilibrium model. This reflects the popular belief that interest groups compete for privileged transfers and tax treatment at the expense of the general public...
Persistent link: https://www.econbiz.de/10003300952
This paper quantifies the welfare differences among a monetary union, flexible exchange rates (economic disintegration) and a monetary plus fiscal transfer union (higher economic integration). The vehicle of analysis is a medium-scale New Keynesian DSGE model consisting of two heterogeneous...
Persistent link: https://www.econbiz.de/10011430977
This paper studies the implications of changes in the fiscal (spending-tax) policy mix when all categories of spending and taxes are according to their functional breakdown. In so doing, we build a general equilibrium OLG model which naturally incorporates the main functional categories of...
Persistent link: https://www.econbiz.de/10011342332