The interaction of supply and demand is at the root of market and other equilibria. Yet no systematic synthetic treatment of non-renewable resource supply exists; equilibrium analyses or welfare statements usually are formulated without any systematic decomposition into supply and demand. In...

Despite the progress that has been made in the measurement of productivity, there have been few attempts to cast emissions of bad outputs within a joint-production framework. This paper does so. It proposes an experimental framework that depends critically on the shadow price estimates of...

Optimum commodity taxation theory asks how to raise a given amount of tax revenue while minimizing distortions. We reexamine Ramsey's inverse elasticity rule in presence of Hotelling-type non-renewable natural resources. Under standard assumptions borrowed from the...

Optimum commodity taxation theory asks how to raise a given amount of tax revenue while minimizing distortions. We reexamine Ramsey's inverse elasticity rule in presence of Hotelling-type non-renewable natural resources. Under standard assumptions borrowed from the...

Optimum commodity taxation theory asks how to raise a given amount of tax revenue while minimizing distortions. We reexamine Ramsey's inverse elasticity rule in presence of Hotelling-type non-renewable natural resources. Under standard assumptions borrowed from the...

Most developed countries will be facing severe public budget constraints. We derive a formula for how extraction or use of nonrenewable resources should be taxed when governments need to collect commodity tax revenues. Moreover, we show how it can be directly used to indicate how carbon taxation...

Using semi-parametric and non-parametric estimation techniques, we infer cost distributions and informational rents from 457 bids for snow removal contracts offered for tender by the City of Montreal between 1990 and 1998. Bids and costs have decreased over the sample period, while rents...