In a cross-section of countries, government regulation is strongly negatively correlated with social capital. We … document this correlation, and present a model explaining it. In the model, distrust creates public demand for regulation …, while regulation in turn discourages social capital accumulation, leading to multiple equilibria. A key implication of the …

Seminal work by Weitzman (1974) revealed prices are preferred to quantities when marginal benefits are relatively flat … condition determines when indexed quantities are preferred to prices. Applied to climate change policy, we find that the range …

Recent empirical work finds a negative correlation between product market regulation and aggregate employment. We … driving force is the size of income transfers associated with the regulation relative to labor income, and the key propagation … assessing the aggregate effects of product market regulation …