We study the efficiency of capital allocations at state-controlled and privately owned business groups in China. Using …

liabilities and the capital structure of firms. In our theory, better institutional quality tends to promote a higher share of …

This paper builds a single model that can be used to show efficiency and distributional effects of eight different … approaches can be designed to have the same efficiency effects, even while they have different distributional effects. For … efficiency, enforcement capabilities, and political feasibility). The paper ends with a discussion of likely trade-offs among …

(subject to achieving other government objectives). It starts with a review of the theory and practice of deadweight loss …

This paper describes an efficiency approach to the evaluation of policy changes. Rather than comparing the utility …

instruments. In a simple model with identical consumers, we show conditions under which the same efficiency can be attained by the … efficiency can again be obtained, but only if each person's gasoline tax rate can be made to depend on the characteristics of the …

literature has been prominent in legislative debates about taxation as a tool to discourage smoking, and has contributed theory … research and several equity and efficiency concerns accompanying cigarette taxation debates. It includes economic analysis of …