This study provides new insights into the effects of the corporate income tax by introducing a general-equi librium model in which households choose portfolios composed of housi ng and nonhousing assets, industries make investment decisions based on Hall-Jorgenson cost-of-capital formulas, and...

While prior literature has identified various effects of environmental policy, this note uses the example of a proposed carbon permit system to illustrate and discuss six different types of distributional effects: (1) higher prices of carbon-intensive products, (2) changes in relative returns to...

"While prior literature has identified various effects of environmental policy, this note uses the example of a proposed carbon permit system to illustrate and discuss six different types of distributional effects: (1) higher prices of carbon-intensive products, (2) changes in relative returns...