Resale price maintenance (RPM) has been applied to a number of products that do not seem to require tangible presale dealer services. This article explains why RPM might exist in these instances. We show that RPM will be adopted when a manufacturer wishes to "purchase" quality or style...

This article analyzes optimal taxation and debt policies in a model of overlapping generations of finite-lived agents. Taxes are levied proportionately on capital and labor incomes. Tax rates are uniform across all agents. When the social and private discount rates coincide, the optimal...