Narrow search
Showing 1 - 10 of 6,889
Cover Image
The Corrective Tax versus Liability As Solutions to the Problem of Harmful Externalities
Shavell, Steven - 2010
importance in controlling harmful externalities. I compare the tax and liability here in theory and suggest that the conclusions … harmful externalities, its actual use has been limited, mainly to the domain of pollution. Liability, in contrast, has great … help to explain the observed predominance of liability over taxation, except in the area of pollution. The following …
Persistent link: https://www.econbiz.de/10012462420
Cover Image
Tax and Subsidy Combinations for the Control of Car Pollution
Fullerton, Don - 2000
Despite technological advances, an individual car's emissions still cannot be measured reliably enough to impose a Pigovian tax. This paper explores alternative market incentives that could be used instead. We solve for second-best combinations of uniform taxes on gasoline, engine size, and...
Persistent link: https://www.econbiz.de/10012470976
Cover Image
Pigouvian Taxation with Administrative Costs
Polinsky, A. Mitchell - 1981
This paper examines how the optimal Pigouvian tax should be adjusted to reflect administrative costs. Several cases are examined, depending on whether the administrative costs are fixed per firm taxed or are a function of the amount of tax collected, and on whether such costs are borne by the...
Persistent link: https://www.econbiz.de/10012478373
Cover Image
Dynamic Corrective Taxes with Time-Varying Salience
Gilbert, Ben - 2018
The intermittency of payment for many goods creates a disconnect between paying and consuming such that the marginal price is not always salient when consumption decisions are made. This paper derives optimal dynamic corrective taxes when there are externalities as well as internalities from...
Persistent link: https://www.econbiz.de/10012480667
Cover Image
Excessive Volatility in Capital Flows : A Pigouvian Taxation Approach
Jeanne, Olivier - 2010
This paper analyzes prudential controls on capital flows to emerging markets from the perspective of a Pigouvian tax that addresses externalities associated with the deleveraging cycle. It presents a model in which restricting capital inflows during boom times reduces the potential outflows...
Persistent link: https://www.econbiz.de/10012462724
Cover Image
The Two-Part Instrument in a Second-Best World
Fullerton, Don - 2003
The standard theory that the first-best tax on pollution is equal to marginal environmental damages has been extended …
Persistent link: https://www.econbiz.de/10012468554
Cover Image
Environmental Levies and Distortionary Taxation : Pigou, Taxation, and Pollution
Metcalf, Gilbert E. - 2000
Bovenberg and de Mooij (1994) showed that, in the presence of preexisting distorting taxes, the optimal pollution tax typically lies below social marginal damages. Many have viewed this result as a refutation of the so-called double dividend hypothesis,' which suggests that a tax on pollution...
Persistent link: https://www.econbiz.de/10012470820
Cover Image
Optimal Regulation of Financial Intermediaries
Tella, Sebastian Di - 2017
I characterize the optimal financial regulation policy in an economy where financial intermediaries trade capital assets on behalf of households, but must retain an equity stake to align incentives. Financial regulation is necessary because intermediaries cannot be excluded from privately...
Persistent link: https://www.econbiz.de/10012455096
Cover Image
The Purpose of Trade Agreements
Grossman, Gene M. - 2016
This paper reviews the literature on governments' motivations for negotiating and joining international trade agreements. I discuss both normative explanations for trade agreements and explanations based on political-economy concerns. Most of the paper focuses on the purpose of multilateral...
Persistent link: https://www.econbiz.de/10012456604
Cover Image
Sufficient Statistics for Imperfect Externality-Correcting Policies
Jacobsen, Mark R. - 2016
Pigouvian taxes can fully correct for market failures due to externalities, but actual policies are commonly forced to deviate from the Pigouvian ideal due to administrative or political constraints. This paper derives sufficient statistics, which require a minimum of market information, that...
Persistent link: https://www.econbiz.de/10012456611