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Optimal forest conservation: Competitiveness versus green image effects

Koskela, Erkki; Ollikainen, Markku - 2000

This paper provides a theoretical framework to study the behavioral and welfare effects of forest conservation, which leads to a binding harvesting constraint for landowners. The economy is modeled as a three-stage game by the interaction of the government’s conservation policy, with...

Persistent link: https://www.econbiz.de/10010285080

Optimal forest policies in an overlapping generations economy with timber and money bequests

Amacher, Gregory S.; Koskela, Erkki; Ollikainen, Markku - 2001

This paper studies optimal forest policies in an overlapping generations forest economy with one-sided altruism, where timber and monetary bequests can be made across generations and forest amenities are a public good. We extend the existing economics literature by demonstrating that timber...

Persistent link: https://www.econbiz.de/10010285086

On forest rotation undet interest rate variability

Alvarez, Luis H.R.; Koskela, Erkki - 2003

solution for the two dimensional path-dependent optimal stopping problem. Increased interest rate volatility is shown to … lengthen the optimal rotation period. Numerical calculations show that interest rate volatility has a big quantitative …

Persistent link: https://www.econbiz.de/10010285146

Irreversible investment under interest rate variability: Some generalizations

Alvarez, Luis H.R.; Koskela, Erkki - 2003

volatility strengthens the negative impact of interest rate uncertainty and vice versa. …

Persistent link: https://www.econbiz.de/10010285150

Green tax reform and competitiveness

Koskela, Erkki; Schöb, Ronnie; Sinn, Hans-Werner - 2000

This paper studies a revenue-neutral green tax reform that substitutes energy for wage taxes in an open economy with unemployment. As long as the labour tax rate exceeds the energy tax rate, such a reform will increase employment, reduce the domestic firms' unit cost of production and hence...

Persistent link: https://www.econbiz.de/10010285164

A behavioral and welfare analysis of progressive forest taxation

Koskela, Erkki; Ollikainen, Markku - 2003

We use the Hartman rotation model to study behavioral and social welfare effects of forest tax progression. The following new results are shown for harvest and timber taxes. First, a tax-revenue neutral increase in the timber tax rate, compensated by a higher tax exemption, will shorten the...

Persistent link: https://www.econbiz.de/10010285173

Optimal forest taxation under private and social amenity valuation

Koskela, Erkki; Ollikainen, Markku - 2002

This paper analyzes the socially optimal forest taxation in the rotation framework when the government has a binding tax revenue requirement. In the Faustmann model the optimal design of taxation consists of non-distortionary taxes, such as site productivity tax, site value tax or profit tax. A...

Persistent link: https://www.econbiz.de/10010285245

Renewable resources in an overlapping generations economy without capital

Koskela, Erkki; Ollikainen, Markku; Puhakka, Mikko - 2001

We incorporate a renewable resource into an overlapping generations model without capital and with quasi-linear preferences. Besides being an input for production the resource serves as a store of value. We characterize the dynamics, efficiency and stability of the steady state equilibria. The...

Persistent link: https://www.econbiz.de/10010285277

Equilibrium unemployment and capital intensity under product and labor market imperfections

Kauppi, Heikki; Koskela, Erkki; Stenbacka, Rune - 2004

We study the implications of product and labor market imperfections for equilibrium unemployment under both exogenous and endogenous capital intensity. With endogenous capital intensity, stronger labor market imperfections always increase equilibrium unemployment. The relationship between the...

Persistent link: https://www.econbiz.de/10010261119

Progressive taxation and irreversible investment under uncertainty

Alvarez, Luis H. R.; Koskela, Erkki - 2005

investment threshold is a positive function of volatility, but independent of tax rate. For "medium" volatilities it is … independent of both tax rate and volatility. Finally, for "high" volatilities the optimal investment threshold depends positively … on volatility, but negatively on tax rate so that we have "tax paradox". …

Persistent link: https://www.econbiz.de/10010261122