endogenous fuel-specific technological change shows that subsidies cannot substitute for explicit carbon pricing and that even a …

Welfare economics, scope and performance of government, externalities, public goods, cost-benefit analysis, subsidies … addresses externalities, provided the social return is above a threshold. This paper argues that another consideration needs to … be brought into the mix - whether, in spite of the externalities, the private sector has an incentive to undertake the …

searching process of individual investors and the information externalities of investors in the aggregate. Policy implications …

The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple …

This paper formally identifies an important role of banks: Banks competitively internalize production externalities and … facilitate economic growth. I formulate a canonical growth model with externalities as a game among consumers, firms, and banks …. Banks compete for deposits to seek monopoly profits, including externalities. Using loan contracts that specify price and …

Vertical tax externalities between levels of government can occur in federal structures, with responses to the tax … governments co-occupy the same tax base. This paper examines these externalities by considering their implications for a range of …