, and instruments, this paper analyzes the role of dynamic externalities for individual industries. Key issues examined … include the role of externalities from own industry concentration (localization, or MAR externalities) versus the role of … externalities from overall diversity of the local environment (urbanization, or Jacobs externalities). In contrast to previous …

subject to dynamic increasing returns, and pecuniary externalities that result from the factor substitution in the final goods …

presence of externalities. The paper employs a two-period, open economy framework in which the central government allocates its … externalities. This is not only because debt relief that expands the availability of current resources has positive direct income …

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

positively on the competitive externality. We provide two examples of scenarios where these externalities are relevant. First … and local governments can use seigniorage to their advantage. The effect of competitive externalities is to increase the …

This paper presents a simple but quite general framework for analyzing the impact of informational externalities. By … identifying the traditional pecuniary effect of these externalities which nets out,the paper greatly simplifies the problem of …

programs to alleviate these intergenerational externalities. Specifically, the sub-optimal investment in offspring human …'s education. Less obvious externalities may result when parents underinvest in themselves because they fail to consider spillover … intergenerational externalities in greater detail …