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Corrective regulation with imperfect instruments
Dávila, Eduardo; Walther, Ansgar - 2022
This paper studies optimal second-best corrective regulation, when some agents/activities cannot be perfectly regulated … apply our results to scenarios with unregulated agents/activities, uniform regulation across agents/activities, and costly … regulation. We illustrate our results in applications to financial regulation with environmental externalities, shadow banking …
Persistent link: https://www.econbiz.de/10013440427
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Environmental taxation and redistribution concerns : conference paper
Aigner, Rafael Christian - 2013 - This version, 1st March 2013
How is the optimal level of Pigouvian taxation influenced by distributive concerns? With second-best instruments, a higher level of income redistribution calls for a lower level of Pigouvian taxation. More redistribution implies higher distortions from income taxation. Pigouvian tax revenues...
Persistent link: https://www.econbiz.de/10010340529
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Pigou meets mirrlees : on the irrelevance of tax distortions for the second-best Pigouvian tax
Jacobs, Bas; Mooij, Ruud A. de - 2011
This paper extends the Mirrlees (1971) model of optimal income redistribution with optimal corrective taxes to internalize consumption externalities. It is demonstrated that the optimal second-best tax on an externality-generating good should not be corrected for the marginal cost of public...
Persistent link: https://www.econbiz.de/10009010179
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Environmental taxation and redistribution concerns
Aigner, Rafael Christian - 2011
This paper shows how the optimal level of Pigouvian taxation is influenced by distributive concerns. With second-best instruments, a higher level of income redistribution calls for a lower level of Pigouvian taxation. More redistributionimplies that tax collection via the income tax creates...
Persistent link: https://www.econbiz.de/10009232383
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Pigou Meets Mirrlees : On the Irrelevance of Tax Distortions for the Second-Best Pigouvian Tax
Jacobs, Bas - 2013
This paper extends the Mirrlees (1971) model of optimal income redistribution with optimal corrective taxes to internalize consumption externalities. It is demonstrated that the optimal second-best tax on an externality-generating good should not be corrected for the marginal cost of public...
Persistent link: https://www.econbiz.de/10013093870
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Corrective regulation with imperfect instruments
Dávila, Eduardo; Walther, Ansgar - 2022
This paper studies optimal second-best corrective regulation, when some agents/activities cannot be perfectly regulated … apply our results to scenarios with unregulated agents/activities, uniform regulation across agents/activities, and costly … regulation. We illustrate our results in applications to financial regulation with environmental externalities, shadow banking …
Persistent link: https://www.econbiz.de/10014278495
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Corrective regulation with imperfect instruments
Dávila, Eduardo; Walther, Ansgar - 2022
This paper studies optimal second-best corrective regulation, when some agents/activities cannot be perfectly regulated … apply our results to scenarios with unregulated agents/activities, uniform regulation across agents/activities, and costly … regulation. We illustrate our results in applications to financial regulation with environmental externalities, shadow banking …
Persistent link: https://www.econbiz.de/10014374324
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Too levered for Pigou : carbon pricing, financial constraints, and leverage regulation
Döttling, Robin; Rola-Janicka, Magdalena - 2023
We analyze jointly optimal carbon pricing and leverage regulation in a model with financial constraints and endogenous … physical climate risks have a substantial impact on collateral values. Additionally introducing leverage regulation can be …
Persistent link: https://www.econbiz.de/10014315161
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Environmental taxation and redistribution concerns
Aigner, Rafael - 2011
This paper shows how the optimal level of Pigouvian taxation is influenced by distributive concerns. With second-best instruments, a higher level of income redistribution calls for a lower level of Pigouvian taxation. More redistributionimplies that tax collection via the income tax creates...
Persistent link: https://www.econbiz.de/10010286695
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Optimal taxation of externalities interacting through markets : a theoretical general equilibrium analysis
Ren, Xiaolin; Fullerton, Don; Braden, John B. - 2010
This study develops a theoretical general equilibrium model to examine optimal externality tax policy in the presence of externalities linked to one another through markets rather than technical production relationships. Analytical results reveal that the second-best externality tax rate may be...
Persistent link: https://www.econbiz.de/10008749027