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Prices versus quantities reassessed
Karp, Larry S.; Traeger, Christian - 2018
"Prices versus quantities" (Weitzman 1974), a hugely influential paper, is widely cited (and taught) in current debates about the best policy to reduce greenhouse gas emissions. The paper's criterion for ranking policies suggests that technological uncertainty favors taxes over cap and trade....
Persistent link: https://www.econbiz.de/10011927948
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Endogenous emission caps always induce a green paradox
Gerlagh, Reyer; Heijmans, Roweno; Rosendahl, Knut Einar - 2019
For any emission trading system (ETS) with quantity-based endogenous supply of allowances, there exists a negative demand shock, e.g. induced by abatement policy, that increases aggregate supply and thus cumulative emissions. We prove this green paradox for a general model and then apply it to...
Persistent link: https://www.econbiz.de/10012105543
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Think global, act local! : a mechanism for global commons and mobile firms
Ahlvik, Lassi; Liski, Matti - 2019
It is tricky to design local regulations on global externalities, especially so if firms are mobile. We show that when costs and outside options are firms' private information, the threat of firm relocation leads to local regulations that are stricter, not looser. This result is general and...
Persistent link: https://www.econbiz.de/10011996399
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Technology shocks and aggregate fluctuations in an estimated hybrid RBC model
Malley, James R.; Woitek, Ulrich - 2009
technology shocks in explaining aggregate fluctuations. To this end we estimate the model's posterior density using Markov …
Persistent link: https://www.econbiz.de/10003833344
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Timing of technology adoption and product market competition
Milliou, Chrysovalantou; Petrakēs, Emmanuēl - 2009
This paper examines how product market competition affects firms' timing of adopting a new technology as well as …. When goods are differentiated enough, adoption occurs later than it is socially optimal. -- technology adoption …
Persistent link: https://www.econbiz.de/10003854416
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Heckscher-Ohlin theory when countries have different technologies
Fisher, Eric O'Neill - 2010
Rethinking the foundations of Heckscher-Ohlin theory when countries have different technologies, this paper shows how …
Persistent link: https://www.econbiz.de/10003983245
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Business cycle effects of credit and technology shocks in a DSGE model with firm defaults
Pesaran, M. Hashem; Xu, TengTeng - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … different realizations of firm specific technology shocks, possibly leading to default by some firms. The paper advances a new … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …
Persistent link: https://www.econbiz.de/10009312180
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Technology agreements with heterogeneous countries
Hoel, Michael; Zeeuw, Aart de - 2014
For sufficiently low abatement costs many countries might undertake significant emission reductions even without any international agreement on emission reductions. We consider a situation where a coalition of countries does not cooperate on emission reductions but cooperates on the development...
Persistent link: https://www.econbiz.de/10010246011
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Generalized quadratic revenue functions
Chambers, Robert G. (contributor); Färe, Rolf (contributor) - 2008
Carlo evidence suggests that the quadratic specification more precisely represents technology. …
Persistent link: https://www.econbiz.de/10003751214
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Estimated US manufacturing production capital and technology based on an estimated dynamic economic model
Chen, Baoline (contributor); Zadrozny, Peter A. (contributor) - 2005
Production capital and technology, fundamental to understanding output and productivity growth, are unobserved except … of capital and technology for the sample period. We apply the method to annual data from 1947-97 for U.S. total …
Persistent link: https://www.econbiz.de/10003120218