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The Unequal Economic Consequences of Carbon Pricing
Känzig, Diego R. - National Bureau of Economic Research - 2023
emissions and more green innovation. This comes at the cost of a fall in economic activity, which is borne unequally across …
Persistent link: https://www.econbiz.de/10014287322
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Inclusion and Democratization Through Web3 and DeFi?$bInitial Evidence from the Ethereum Ecosystem
Cong, Lin William; Tang, Ke; Wang, Yanxin; Zhao, Xi - National Bureau of Economic Research - 2023
Web3 and DeFi are widely advocated as innovations for greater financial inclusion and democratization. We assemble the most comprehensive dataset to date on the largest Web3 ecosystem and use large-scale computing to conduct an initial investigation. We describe Ethereum's network structure,...
Persistent link: https://www.econbiz.de/10014226146
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Optimal Income Taxation
Kaplow, Louis - National Bureau of Economic Research - 2022
This article explores subjects in optimal income taxation characterized by recent research interest, practical importance in light of concerns about inequality, potential for misunderstanding, and prospects for advancement. Throughout, the analysis highlights paths for further investigation....
Persistent link: https://www.econbiz.de/10013334417
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Optimal Gradualism
Lehr, Nils H.; Restrepo, Pascual - National Bureau of Economic Research - 2022
This paper studies how gradualism affects the welfare gains from trade, technology, and reforms. When people face adjustment frictions, gradual shocks create less adverse distributional effects in the short run. We show that there are welfare gains from inducing a more gradual transition via...
Persistent link: https://www.econbiz.de/10013477247
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Voting on Public Goods : Citizens vs. Shareholders
Döttling, Robin; Levit, Doron Y.; Malenko, Nadya; … - National Bureau of Economic Research - 2024
We study the interplay between a "one person-one vote" political system and a "one share-one vote" corporate governance regime. The political system sets Pigouvian subsidies, while corporate governance determines firm-specific public good investments. Our analysis highlights a two-way feedback...
Persistent link: https://www.econbiz.de/10014576634
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Taxation and Innovation : What Do We Know?
Akcigit, Ufuk - 2020
the many margins through which tax policies can affect innovation, the main driver of economic growth in the long …-run. These margins include the impact of tax policy on i) the quantity and quality of innovation; ii) the geographic mobility of … innovation and inventors across U.S. states and countries; iii) the declining business dynamism in the U.S., firm entry, and …
Persistent link: https://www.econbiz.de/10012481692
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Leaders and Followers : Perspectives on the Nordic Model and the Economics of Innovation
Stiglitz, Joseph E. - 2014
learning by doing, where learning occurs within the industrial sector but spills over to other sectors, we demonstrate the … innovation. After identifying pervasive market failures in innovation, it explains why those associated with the Nordic model may … be particularly conducive to innovation, and demonstrates that, in general, the optimal policies of the leader should …
Persistent link: https://www.econbiz.de/10012458174
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"Zero Cost'' Majority Attacks on Permissionless Blockchains
Gans, Joshua; Hałaburda, Hanna - National Bureau of Economic Research - 2023
Permissionless blockchains were constructed with a view to being sustainably secure. At the heart of blockchain consensus mechanisms was an explicit cost (whether it be work or stake) for participation in the network and the opportunity to propose blocks that would be added to the blockchain. A...
Persistent link: https://www.econbiz.de/10014322860
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Vintage Capital and Creditor Protection
Benmelech, Efraim - 2010
We provide novel evidence linking the level of creditor protection provided by law to the degree of usage of technologically older, vintage capital in the airline industry. Using a panel of aircraft-level data around the world, we find that better creditor rights are associated with both...
Persistent link: https://www.econbiz.de/10012462916
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Environmental Regulation, Investment Timing, and Technology Choice
Gray, Wayne B. - 1997
We began this project interested in collecting real-world' insight about how environmental regulation affects the paper industry. Based on conversations with people in the industry and visits to paper mills, we formulated several hypotheses related to technology choice in new mills and the...
Persistent link: https://www.econbiz.de/10012472781