Because of difficulties measuring pollution, many prior papers suggest a subsidy to some observable method of reducing pollution. We take three such papers as examples, and we extend each of them to show how welfare under the suggested subsidy can be increased by the addition of an output tax....

Abstract

Definitions can matter, and Don Fullerton and Michael Geruso argue that proponents of social security privatization mean a host of different things by "privatization." They point out that many of the gains from privatization seen by economists like Martin Feldstein and Laurence Kotlikoff owe to...