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Optimal Taxation and Constrained Inefficiency in an Infinite-Horizon Economy with Incomplete Markets

Gottardi, Piero; Kajii, Atsushi; Nakajima, Tomoyuki - 2021

We study the dynamic Ramsey problem of finding optimal public debt and linear taxes on capital and labor income within a tractable infinite horizon model with incomplete markets. With zero public expenditure and debt, it is optimal to tax the risky labor income and subsidize capital, while a...

Persistent link: https://www.econbiz.de/10013315974

Optimal Fiscal Policy with Incomplete Financial Markets

Chatzouz, Moustafa - 2020

This paper studies the optimal design of fiscal policy when financial markets are incomplete at the aggregate and microeconomic level. The government trades a non-state contingent bond (liability) and cannot insure against the uncertainty in future tax revenues, while households are unable to...

Persistent link: https://www.econbiz.de/10012849176

Strategic exploitation of a common-property resource under rational learning about its reproduction

Koulovatianos, Christos - 2013

Persistent link: https://www.econbiz.de/10010413432

Sustainability and Substitution of Exhaustible Natural Resources : How Resource Prices Affect Long-Term R&D Investments

Bretschger, Lucas; Smulders, Sjak - 2015

limited, which seems to be crucial for today's sustainability debate …

Persistent link: https://www.econbiz.de/10014074673

Sustainability and substitution of exhaustible natural resources : how resource prices affect long-term R&D investments

Bretschger, Lucas; Smulders, Sjak - 2003

Persistent link: https://www.econbiz.de/10001843534

The sustainability paradigm : a macroeconomic perspective

Bretschger, Lucas - 1997

Persistent link: https://www.econbiz.de/10013388215

Optimal taxation and constrained inefficiency in an infinite-horizon economy with incomplete markets

Gottardi, Piero; Kajii, Atsushi; Nakajima, Tomoyuki - 2011

Persistent link: https://www.econbiz.de/10010277403

Renewable Resources in an Overlapping Generations Economy Without Capital

Koskela, Erkki; Ollikainen, Markku; Puhakka, Mikko - 2014

We incorporate a renewable resource into an overlapping generations model without capital and with quasi-linear preferences. Besides being an input for production the resource serves as a store of value. We characterise the dynamics, efficiency and stability of the steady state equilibria. The...

Persistent link: https://www.econbiz.de/10014145514

Market dynamics, dynamic resource management and environmental policy in the context of (strong) sustainability

Klarl, Torben - 2011

Persistent link: https://www.econbiz.de/10009356241

Market dynamics, dynamic resource management and environmental policy in the context of (strong) sustainability

Klarl, Torben - 2010

) this analysis provides an environment discussing sustainability in an appropriate inasmuch dynamic way. The paper makes … out to be a pure effort tax in the long run. (4) Strong resource sustainability is not possible, given cost reducing … establishing such a solution in the sense of a policy mix approach. -- Sustainability ; resource management ; environmental policy …

Persistent link: https://www.econbiz.de/10008909783