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Educational Production
Lazear, Edward P. - 2021
their classmates do worse. The theory presented below reconciles all of these facts by recognizing that classroom teaching … ranges away from equilibrium levels will adversely affect educational output. The theory argues for a particular non … by lowering class size. The theory provides a measurable and operational way to define school quality that can be tested …
Persistent link: https://www.econbiz.de/10013249228
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Optimal Taxation with Rent-Seeking
Rothschild, Casey - 2011
Recent policy proposals have suggested taxing top incomes at very high rates on the grounds that some or all of the highest wage earners are engaged in socially unproductive or counterproductive activities, such as externality imposing speculation in the financial sector. To address this, we...
Persistent link: https://www.econbiz.de/10013125562
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A Comment on the Role of Prices for Excludable Public Goods
Metcalf, Gilbert E. - 2007
Blomquist and Christensen (2005) argue that welfare is initially decreasing in the price of an excludable public good and that the case for a positive price for an excludable public good price is weak. We argue that this result follows from their particular characterization of the public good...
Persistent link: https://www.econbiz.de/10012778320
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Should the Government's Allocation Branch Be Concerned About the Distortionary Cost of Taxation and Distributive Effects?
Kaplow, Louis - 2021
Does taxation for public goods generally involve a distortionary cost? Are Pigouvian taxes desirable because they raise revenue without having to resort to distortionary taxes? Should decisions concerning public goods or Pigouvian taxes depend on whether their incidence is regressive? The answer...
Persistent link: https://www.econbiz.de/10013310218
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Political Economy of Ramsey Taxation
Acemoglu, Daron - 2009
We study the dynamic taxation of capital and labor in the Ramsey model under the assumption that taxes and public good provision are decided by a self-interested politician who cannot commit to policies. We show that, as long as the discount factor of the politician is equal to or greater than...
Persistent link: https://www.econbiz.de/10013156673
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Optimal Policy with Heterogeneous Preferences
Kaplow, Louis - 2010
Optimal policy rules--including those regarding income taxation, commodity taxation, public goods, and externalities--are typically derived in models with homogeneous preferences. This article reconsiders many central results for the case in which preferences for commodities, public goods, and...
Persistent link: https://www.econbiz.de/10012758594
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Multiple Equilibria in Open Economy Models with Collateral Constraints : Overborrowing Revisited
Schmitt-Grohé, Stephanie - 2016
This paper establishes the existence of multiple equilibria in infinite-horizon open- economy models in which the value of tradable and nontradable endowments serves as collateral. In this environment, the economy displays self-fulfilling financial crises in which pessimistic views about the...
Persistent link: https://www.econbiz.de/10012990790
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When are Anonymous Congestion Charges Consistent with Marginal Cost Pricing?
Arnott, Richard J.; Kraus, Marvin - 2021
these constraints undermine the feasibility of marginal cost pricing, and hence the applicability of the first-best theory …
Persistent link: https://www.econbiz.de/10013225057
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Ownership and Use Taxes as Congestion Correcting Instruments
Chia, Ngee-Choon; Tsui, Albert K.C; Whalley, John - 2021
In countries, such as Singapore, that have implemented vehicle congestion policies, recent years have seen a shift towards motor vehicle taxes based on car use. Ownership taxes reduce the number of cars on the road, leaving the price per trip largely unaffected. Use taxes such as fuel taxes and...
Persistent link: https://www.econbiz.de/10013247191
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Toll Competition Among Congested Roads
Engel, Eduardo M. R. A.; Galetovic, Alexander; Fischer, … - 2021
A growing number of roads are currently financed by the private sector via Build-Operate-and -Transfer (BOT) schemes. When the franchised road has no close substitute, the government must regulate tolls. Yet when there are many ways of getting from one point to another, regulation may be avoided...
Persistent link: https://www.econbiz.de/10013245129