This paper identifies the migration policies that emerge when both the sending country and the receiving country wield power to set migration quotas, when controlling migration is costly, and when the decision how much human capital to acquire depends, among other things, on the migration...

This paper is the first to examine the effect of minimum price guaranteesin a sequential search model. Minimum price guarantees are notadvertised and only known to consumers when they come to the shop.We show that in such an environment, minimum price guarantees increasethe value of buying the...

This paper studies majority voting on taxes when tax evasion is possible. We characterize the voting equilibrium where the agent with median taxed income is pivotal. Since the ranking of true incomes does not necessarily correspond to the ranking of taxed incomes, the decisive voter can differ...

We consider a real business cycle model with a productive externality and an aggregate non- convex technology set µa la Benhabib and Farmer embodying capacity utilization, which exhibits indeterminacy of the steady state and multiplicity of deterministic equilibria under plausible values of the...

There is a tendency among policy-makers and industry lobbyists toward "specific", "relative" or "output-based" quotas, i.e., freely distributed to firms proportionally to their output. With a stochastic analytical model, we demonstrate that relative quotas are dominated either by absolute quotas...

The increased demand for a more equal parental sharing of the responsibilities for children has led many countries to reconstruct their parental leave systems so to provide stronger incentives for fathers to participate in childcare. Father's quotas are becoming widely spread across Europe. This...

This paper critically and selectively surveys the literature on protection for sale and discusses directions for future research in this area. It suggests that the standard approach needs to be augmented to provide more compelling tests of this model.

We explore the efficacy of price and quantity controls as environmental policy instruments in a stochastic setting in which agents are risk averse. We demonstrate that the assumption of risk aversion may improve the performance of a tax relative to that of a system of tradable quotas, and that...

The topic of this note is issues related to R&D expenditures leading to improved technologies for reducing environmentally harmful emissions. The focus is on he following questions: Will a market economy where environmental policies are restricted to taxes or quotas give the socially efficient...