Explication of reality may draw tools outside the phenomenon. That is the essence of case study, and the epistemological motivation of this paper. The paper illuminates the space of PPP policy in the UK. Yet, that illumination raises questions that stand to guide other countries, and the paper...

When large numbers of people are enabled to travel rapidly around the country, will it affect information production in capital markets? We study a government-directed buildout of high-speed rails (HSR) and find that after being connected to the HSR network, firms experience increased...

Many predictions and conclusions in climate change literature have been made on the basis of theoretical analyses and quantitative models that assume exogenous technological change. One may wonder if those policy prescriptions hold in the more realistic case of endogenously evolving...

The relationship between economic growth and pollution is very complex, depending upon a host of different factors. Thus the study of this phenomenon represents a challenging endeavor. While most economics papers begin with theory and support that theory with econometric evidence, the literature...

Many international treaties come into force only after a minimum number of countries have signed and ratified the treaty. Why do countries agree to introduce a minimum participation constraint among the rules characterising an international treaty? This question is particularly relevant in the...

This paper examines recent theoretical developments of the theory of coalition stability. It focuses on the relationship between the incentives to defect from a coalition, the size of the resulting equilibrium coalition structure, and the different assumptions on membership rules, coalition...

A utilitarian social planner who maximizes social welfare assigns the available income to those who are most efficient in converting income into utility. However, when individuals are concerned about their income falling behind the incomes of others, the optimal income distribution under...

We characterize the Laffer curves for labor taxation and capital income taxation quantitatively for the US, the EU-14 and individual European countries by comparing the balanced growth paths of a neoclassical growth model featuring ”constant Frisch elasticity” (CFE) preferences. We derive...

This paper reviews recent developments in the study of the so-called "double dividend", i.e. the possibility of improving the environment and, at the same time, reducing the distortions of the tax system through revenue-neutral green taxes. Recent modeling advances are considered at both the...

This paper analyses the costs and benefits of a fiscal reform designed to simultaneously increase environmental quality and employment. The investigation is carried out using an econometric general equilibrium model in which the labour market is unionised and segmented, i.e. in which demand,...