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market distortion; rational decision making within game theory frameworks under different jurisdictional background …
Persistent link: https://www.econbiz.de/10014192105
We develop an overlapping generations model where consumption is the source of polluting emissions. Pollution stock accumulates with emissions but is partially assimilated by nature at each period. The assimilation capacity of nature is limited and vanishes beyond a critical level of pollution....
Persistent link: https://www.econbiz.de/10014050188
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Empirically, the income share is procyclical for the low-income groups and acyclical for the top 5%. We find that business cycle models should consider overlapping generations and elastic labor supply in order to replicate this finding.
Persistent link: https://www.econbiz.de/10010264090
Although a large body of research has examined the effects of unions on the wage distribution, surprisingly little … attention has been devoted to the effects of unions on the distribution of income. This paper examines the long-run relationship …, we find that (i) unions have, on average, a negative long-run effect on income inequality, (ii) there is considerable …
Persistent link: https://www.econbiz.de/10010406053
We study the performance of alternative climate policies in a dynamic stochastic general equilibrium model that includes an environmental externality and agency problems associated with financial intermediation. Heterogeneous polluting producers finance their capital acquisition by combining...
Persistent link: https://www.econbiz.de/10014242956
The prevalence of labor unions have declined post-WWII, and this paper examines whether globalization is a contributing …
Persistent link: https://www.econbiz.de/10014580754
labor unions. The lobbies of employers and labor unions influence that agency, relating their prospective political …
Persistent link: https://www.econbiz.de/10011347148
Major carbon-pricing systems in Europe and North America involve multiple jurisdictions (countries or states). Individual jurisdictions often pursue additional initiatives—such as unilateral carbon price floors, legislation to phase out coal, aviation taxes or support programs for renewable...
Persistent link: https://www.econbiz.de/10012890770